Invesco has cross-listed the Invesco AT1 Capital Bond UCITS ETF and its euro-hedged share class on Borsa Italiana under the tickers AT1 IM and XAT1 IM respectively.

Invesco has listed a euro-hedged share class of its recently launched AT1 CoCo bond ETF on Deutsche Börse’s Xetra and Frankfurt exchanges.

DWS has introduced a new currency-hedged share class for its Stoxx Europe 600 ETF. Listed on Deutsche Börse’s Xetra exchange, the Xtrackers Stoxx Europe 600 EUR Hedged UCITS ETF (XSXE GR) offers euro-hedged exposure to pan-European stocks across 17 generally developed market countries. Currency hedges within the share class minimise the effect of fluctuations between non-euro denominated constituents and the euro.

State Street Global Advisors has launched a new currency-hedged share class for the SPDR Thomson Reuters Global Convertible Bond UCITS ETF. The new listing minimizes the exchange rate risk between the fund’s underlying currency exposures and the euro.

BlackRock has listed new currency-hedged share classes for the iShares Fallen Angels High Yield Corp Bond UCITS ETF, providing currency risk mitigation for investors trading in euros or pounds sterling. The fund tracks a portfolio of fallen angel bonds issued by companies in developed market countries.

DWS will close and liquidate three of its US-listed Xtrackers ETFs—the Xtrackers MSCI Brazil Hedged Equity ETF (DBBR US), Xtrackers MSCI EAFE Small Cap Hedged Equity ETF (DBES US), and Xtrackers MSCI Mexico Hedged Equity ETF (DBMX US). The funds, which collectively account for less than 1% of DWS’s total US AUM, will have their last day of trading on 31 May 2018.

DWS has launched the Xtrackers II USD Emerging Markets Bond UCITS ETF (XUEM GY) on Xetra, providing exposure to investment grade and high yield emerging market bonds denominated in US dollars. The fund’s reference index is composed of bonds issued by governments, regional governments, or government-related entities.

DWS Group, the asset manager recently spun out of Deutsche Bank, has introduced a euro-hedged version of its core US equity ETF on Xetra. The newly listed Xtrackers MSCI USA UCITS ETF 2C – EUR Hedged (XD9E GR) share class offers euro-referenced investors currency-hedged equity exposure to large and medium-sized US companies.

To hedge, or not to hedge, that is the question faced by portfolio managers with global investment mandates. While institutional investors may have the luxury of delegating this question to a dedicated fx overlay manager, for others it has the potential to cause sleepless nights. One thing is for sure, the performance differences between being hedged or unhedged can be stark, as demonstrated by the returns of Euro Stoxx 50 equity ETFs over the past month.

Invesco has introduced a currency-hedged share class of its recently listed PowerShares Preferred Shares UCITS ETF, which provides exposure to preferred shares issued in the US. The new share class, which mitigates exchange rate risk between the US dollar and the euro, has been listed on Xetra and Börse Frankfurt.