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Ossiam Shiller Barclays CAPE US Sector Value ETF passes USD1bn in assets


The Ossiam Shiller Barclays CAPE US Sector Value TR ETF, which was launched two years ago, passed the USD1 billion assets under management milestone in June.

The ETF, available in three share classes (USD, EUR and EUR-hedged) listed on the London Stock Exchange, XETRA, Euronext Paris, Borsa Italiana and SIX Swiss Exchange, tracks the Shiller Barclays CAPE US Sector Value Net TR Index.
Its strategy is one of two Ossiam strategies tracking Shiller Barclays CAPE Sector Value indices. The indices, developed jointly by Barclays and Professor Robert Shiller, use the Cyclically Adjusted Price-to-Earnings (CAPE) ratio as a valuation driver in a sector rotational strategy. Since its inception two years ago, the strategy has attracted allocations from a range of investors, including insurance companies, pension funds and discretionary wealth managers based in Europe and Latin America.
The EUR and USD share classes were launched in June 2015. A third EUR-hedged share class was launched in May 2017 following investor demand. Since launching in June 2015, the fund has returned 30.84 per cent, in comparison to the 17.67 per cent delivered by the S&P 500 Net TR Index over the same period.
Shiller says: “The US stock market appears expensive by world standards right now, but not all sectors in it are. It makes sense to hold part of a diversified portfolio in the US with a focus on value, as provided by the Ossiam-Shiller-Barclays CAPE US products. I feel grateful to the people at Ossiam and at Barclays for the careful work they have done to make the CAPE products a reality for so many people.”
Bruno Poulin, CEO of Ossiam, says: “This ETF is one of our most popular with investors, which we attribute to consistent positive returns through a range of market conditions since its launch using the highly-regarded CAPE ratio as the basis of valuation for the strategy. We are proud that our partnership with Professor Shiller and Barclays Bank has become a durable success.”
“We are delighted to see that our long-standing collaboration with Ossiam has attracted considerable interest from clients,” says Nicolas Aractingi, Director in the Quantitative Investment Strategies team at Barclays. “The success of the two products shows that the Ossiam Shiller Barclays CAPE ETFs are a popular way for many clients to access this family of smart beta indices.”

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