Rolle im Portfolio
The Lyxor ETF IBEX 35 ETF offers investors exposure to the performance of Spanish large-cap equities as measured by the Madrid stock exchange benchmark market index. Investors seeking to build a Spanish-centric portfolio can make use of this ETF as a core building block in order to meet broad large-cap equity market exposure needs. This ETF can also act as a satellite tool to tactically overweight Spanish equities within an internationally diversified portfolio.
The geographical tactical role of this ETF goes beyond the confines of the Spanish market. The IBEX 35 is both a dual bet on Spain and the broader international economy. Within the IBEX 35 we find truly multinational companies such as Inditex, Telefonica, Banco Santander, BBVA, Iberdrola and Repsol, which derive a large share of their revenue from their non-Spanish operations.
The IBEX 35 is a top heavy index, with the six largest components accounting for around 60-70% of its market capitalisation. In terms of sector concentration, financials, telecoms and utilities represent around 70% of the index’s market capitalisation, with financials the biggest exposure at 35-40%. Investors outside of the Eurozone looking at this EUR-denominated ETF should be aware of currency risk.
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