Analyse: Lyxor UCITS ETF EuroMTS Highest Rated Macro-Weighted Govt Bond

Dieser Bond-ETF umfasst nur die top-gerateten Schuldner der Eurozone und ist zudem nach vier Makroökonomischen Faktoren gewichtet. Sicherheit steht hier also vor Rendite.

Jose Garcia Zarate 21.02.2014
Facebook Twitter LinkedIn

Rolle im Portfolio

The Lyxor EuroMTS Highest Rated Macro-Weighted Government Bond ETF – previously Lyxor EuroMTS AAA Government Bond - offers investors exposure to the entire maturity spectrum of top-rated Eurozone government bonds. The ETF tracks a fundamentally-weighted index which assigns individual country weights on the basis of a series of key macroeconomic indicators. This aims to address commonly cited pitfalls of market capitalisation fixed income indices such as the over-exposure to heavily indebted constituents.    

The restriction in terms of credit rating and the reference to a macro-weighted fixed income index afford this ETF something of a dual role in a Eurozone-centric investment portfolio. Investors with low tolerance to risk are likely to use it as a core fixed income building block, offering the necessary counterweight to Eurozone equity fund exposure; particularly useful at times of economic downturn. Meanwhile investors with a more daring attitude to risk may prefer to use it as a satellite component, a sort of hedge or cushion to a core made up of an ETF encompassing all Eurozone issuers irrespective of credit standing.

This ETF can also work tactically, either as a complement or a hedging tool for investment portfolios with exposure to other geographical areas within the fixed income universe (e.g. UK, emerging European markets). However, foreign exchange considerations would need to be taken into account, particularly so if the ETF is to be used as part of a hedging strategy.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

Um diesen Artikel zu lesen, müssen Sie sich anmelden

Hier kostenlos registrieren
Facebook Twitter LinkedIn

Über den Autor

Jose Garcia Zarate  ist Senior ETF Analyst bei Morningstar