Lyxor lists daily hedged ETF on Italy’s stock exchange
Lyxor has listed its Ucits ETF S&P 500 Daily Hedged on Borsa Italiana, a product aimed at the US stock index.
Lyxor has already another daily hedged ETF listed on Japanese index TOPIX, which was also listed on the Italian Stock Exchange earlier in June.
The ETF offers an accurate daily hedge against exchange rate risk on EUR/USD currencies, Lyxor said. The investment instrument is said to be the cheapest of its type (S&P 500 EUR Hedged), with a total TER of 0.5% per year.
Marcello Chelli, Italy country head for Lyxor ETF, commented: “The methodology of daily hedge against exchange rate risk is more accurate than its monthly version.”