ETFlab releases DJ Euro Stoxx 50 Short fund

ETFlab Investment has released an ETF tracking the Dow Jones Euro Stoxx 50 Short index on the Xetra platform of the Deutsche Boerse.

The ETFlab DJ Euro Stoxx 50 Short ETF provides exposure to the inverse performance of the 50 largest European companies.

Any negative development in the underlying Euro Stoxx 50 benchmark results in a positive change of the same amplitude in the short version, and vice versa.

For example, if the underlying index is down 2%, the short index is up 2%, plus interest earned on the investment based on the Euro Overnight Index Average (Eonia).

Stoxx CEO Ricardo Manrique says: "The index's sophisticated, rules-based and transparent methodology enables market participants to access an innovative solution that can be used for both taking a specific view on the direction of markets or for hedging."

The fund is non-distributing and has a management fee of 0.4%. The issuer ETFlab Investment is a subsidiary of DekaBank Deutsche Girozentrale.

Xetra's XTF segment comprises 544 exchange-traded index funds and has an average monthly trading volume of around €11bn.