Lyxor has listed its Lyxor Nasdaq-100 Daily (2x) Leveraged UCITS ETF on Deutsche Börse Xetra.
The Nasdaq 100 has clocked up a gain of 41.2% year-to-date.
The new share class trades in euros under the ticker L8I7 GY.
The fund provides twice the daily return of the Nasdaq 100 Index, one of the world’s preeminent large-cap growth-oriented indices.
The index tracks the performance of 100 of the largest US and international non-financial companies by market capitalization listed on the Nasdaq stock market, subject to various diversification requirements.
The index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade, and biotechnology.
It does not contain securities of any traditional financial companies or investment companies. Technology stocks account for more than 48% of the index.
Known for being a technology-heavy index, major constituents include tech titans such as Apple, Microsoft, Amazon, Alphabet, Facebook, Tesla, Nvidia, Adobe, PayPal, and Netflix.
The Lyxor Nasdaq-100 Daily (2x) Leveraged UCITS ETF debuted on Euronext Paris (Ticker: LQQ FP) in euros in April 2018 and comes with an expense ratio of 0.60%.
It currently houses €220 million in assets under management, highlighting the strong demand for tactical exposure to this segment.
The Nasdaq 100 Index has been among the best-performing equity indices this year, clocking up a gain of 41.2% year-to-date, as measured in US dollars, as of 4 December. The index has been a net winner during the coronavirus pandemic owing to its significant allocation to technology companies and, to a lesser degree, biotechnology firms that have benefited from social-distancing restrictions and increased spending on healthcare respectively.
In October, Lyxor reduced the expense ratio on its regular Nasdaq 100 fund, the $1.7bn Lyxor Nasdaq-100 UCITS ETF, from 0.30% to 0.22%, making it the cheapest UCITS ETF in Europe for this exposure.
This ETF is synthetically replicated and maintains listings on Euronext Paris (UST FP), Borsa Italiana (UST IM), London Stock Exchange (NASD LN / NASL LN), and Xetra (LYMS GY).