Deutsche Asset Management has cross-listed five ETFs to SIX Swiss Exchange, including one equity fund, three fixed income funds, and an ETF of ETFs.
The five db x-tracker funds cross-listed to SIX include one equity fund, three fixed income funds, and an ETF of ETFs.
They comprise a China A-Shares ETF, a euro-denominated corporate bond ETF, a global government bond ETF, an inflation-linked bond ETF, and an income-focused multi-asset portfolio ETF.
China A-Shares
The db x-trackers Harvest CSI300 Index UCITS ETF (RQFI SW) tracks the CSI 300 Index, composed of the 300 most representative (as measured by a combination of market capitalisation and liquidity) A-shares listed on the Shanghai and Shenzhen stock exchanges.
A-shares are Mainland-domiciled securities quoted in Chinese renminbi, and have traditionally been difficult for investors outside of China to access.
The fund has been available on a number of European exchanges since 2014, included the London Stock Exchange, and holds over £200 million in assets under management.
Euro-denominated corporate bonds
The db x-trackers iBoxx EUR Corp Yield Plus UCITS ETF (XDEP SW) tracks the Markit iBoxx EUR Corporates Yield Plus Index, designed to reflect the performance of corporate bonds denominated in euros and issued by companies with a credit rating between BB- and AAA.
The underlying methodology aims to appeal to yield-hungry investors by offering a yield pick-up compared to vanilla beta ETFs. It does this by selecting those bonds in the top half of the iBoxx EUR Corporate bond universe ranked by yield spread. The strategy also allows for bonds to be held that were investment grade at the time of inclusion but have since been downgraded (so-called ‘fallen angels’), up to a maximum of 20% of the portfolio.
The fund trades in euros and has a TER 0.25%. Also listed on LSE and Deutsche Börse, and has more than £200m in AUM.
Global government bonds
The db x-trackers II Global Government Bond UCITS ETF (XG7S SW) tracks the Citi World Government Bond Index – Developed Markets, providing broad exposure across the yield curve to investment-grade bonds issued by governments from developed markets.
The fund trades in euros and has a TER of 0.20%. There are additional listings on LSE, Deutsche Börse and Borsa Italiana, and has more than £800m in AUM.
Inflation-linked bonds
The db x-trackers II Global Inflaton-Linked Bond UCITS ETF (XGII SW) tracks the Bloomberg Barclays World Government Inflation-Linked Bond Index, providing exposure to inflation-linked government bonds issued by governments of developed market countries.
Inflation-linked bonds differ from regular government securities in that the principal amount of the issue is adjusted over time to reflect changes in an underlying price index. Although the coupon rates of these issues are generally fixed throughout their life, the principal amount varies over time in response to the rate of inflation. As such, increases in inflation correspond to increased principal amounts and therefore coupon payments. Investors should note, however, that decreases in inflation would lower the value of the coupon and principal payments.
The fund trades in euros and has a TER of 0.20%. There are additional listings on LSE, Deutsche Börse, and Borsa Italiana, and it has around £1bn in AUM.
Multi-asset income
The db x-trackers Portfolio Income UCITS ETF (XS7W SW) is actively managed and provides exposure to a diversified portfolio of ETFs, from a pre-defined selection universe of db X-trackers UCITS ETFs, offering exposure to equities, fixed income, commodities and alternative investments. The overall composition of the portfolio aims to deliver a high level of investor income while maintaining the potential for moderate capital growth.
The ETF has additional listings on Deutsche Börse and Borsa Italiana, and comes with a TER of 0.65%. AUM is £26m.