State Street Global Advisors (SSgA) begun trading the SPDR EURO STOXX 50 Currency Hedged ETF (NYSEArca: HFEZ) on Wednesday, June 10, 2015.
Here is a synopsis of the new ETF:
FUND INFORMATION:
| Symbol: HFEZ | Exchange: NYSE Arca |
| Name: SPDR EURO STOXX 50 Currency Hedged ETF | Net Expense Ratio: 0.32% |
FUND OBJECTIVE:
The SPDR EURO STOXX 50 Currency Hedged ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the EURO STOXX 50 Hedged USD Index.
REFERENCE INDEX:
The EURO STOXX 50 Hedged USD Index is a market capitalization weighted index designed to represent the performance of the largest companies across components of the 19 EURO STOXX Supersector Indexes, with the currency risk of the component securities hedged against the US dollar on a monthly basis.
The EURO STOXX Supersector Indexes are subsets of the EURO STOXX Index. The EURO STOXX Index is a broad yet liquid subset of the STOXX Europe 600 Index, which covers the 600 largest companies in Europe. The Index captures approximately 60% of the free-float market capitalization of the EURO STOXXTotal Market Index, which in turn covers approximately 95% of the free float market capitalization of the represented countries. Index composition is reviewed annually and weights are reviewed quarterly.
Countries covered in the Index have historically included, among others, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands and Spain.
The 50 companies in the Index are selected by first identifying the companies that equal approximately 60% of the free-float market capitalization of each corresponding EURO STOXXTotal Market Index Supersector Index. In addition, any stocks that are currently components of the Index are added to the list. From that list, the 40 largest stocks are selected to be components of the Index. In addition, any stocks that are current components of the Index (and ranked 41-60 on the list) are included as components. If there are still less than 50 component stocks, the applicable number of the largest remaining stocks on the list ranked 41 or higher are included as components of the Index. Individual components are capped at a maximum weight of 10% of the Index at each quarterly review.The Index has no limitations on market capitalization of the component stocks, and no limitations on individual country allocations.
Index Top Holdings (04/30/15):
| Total SA | 5.01% |
| Sanofi | 4.79% |
| Bayer AG | 4.67% |
| Banco Santander S.A. | 4.13% |
| Daimler AG | 3.74% |
| Anheuser-Busch InBev SA | 3.64% |
| BASF SE | 3.57% |
| Siemens AG | 3.34% |
| Allianz SE | 3.03% |
| SAP SE | 2.81% |
Index Top Sectors (04/30/15):
| Banks | 18.24% |
| Chemicals | 9.99% |
| Industrial Goods & Services | 8.85% |
| Oil & Gas | 7.83% |
| Insurance | 7.28% |
| Automobiles & Parts | 6.77% |
| Personal & Household Goods | 6.31% |
| Telecommunications | 6.03% |
| Health Care | 5.81% |
| Utilities | 5.66% |
Index Top Country Weights (04/30/15):
| France | 35.30% |
| Germany | 32.09% |
| Spain | 12.75% |
| Italy | 7.67% |
| Netherlands | 7.58% |
| Belgium | 3.64% |
| Finland | 0.97% |
Useful Links:
HFEZ Home Page