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Deutsche Bank lists four credit derivative ETFs on Deutsche Börse

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Four new credit derivative exchange-traded funds issued as part of Deutsche Bank’s db x-trackers II ETF umbrella fund have been launched on Deutsche Börse’s Xetra trading platform.

Four new credit derivative exchange-traded funds issued as part of Deutsche Bank’s db x-trackers II ETF umbrella fund have been launched on Deutsche Börse’s Xetra trading platform. The ETFs make the iTraxx credit derivative benchmark indices tradable in the format of Ucits III funds.

The db x-trackers II iTraxx Europe Subordinated Financials 5-year TRI ETF and the iTraxx Europe Subordinated Financials 5-year Short TRI ETF are based on the iTraxx Europe Subordinated Financials 5-year Total Return Index. Each has a management fee of 0.21 percent.

The iTraxx Europe Senior Financials 5-year TRI ETF and the iTraxx Europe Senior Financials 5-year Short TRI ETF are based on the iTraxx Europe Senior Financials 5-year Total Return Index, ands carry a management fee of 0.18 percent.

The two long ETFs measure the return for a credit protection seller of holding iTraxx Europe Financials credit derivative transactions with a tenor of five years. The underlying indices comprise the subordinated and senior debt respectively from the 25 finance companies in the iTraxx Europe index. With the two short products, investors participate in the return for credit protection buyers.

Following the listings of the four db x-trackers ETFs, Xetra lists a total of 369 exchange-traded index funds, the largest offering of any European stock exchange, and currently has an average monthly trading volume of more than EUR9bn.

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