Index provider Stoxx has licensed the Dow Jones Euro Stoxx 50 index to serve as the underlying for two leveraged ETFs issued by Xact Fonder in Sweden.
The Xact Europe Bull 2 is designed to provide two times the daily performance of the underlying index, while the Xact Europe Bear 2 aims to return the inverse of two times the daily performance. The two funds, which Stoxx claims are the first on offer in the Nordic markets tracking a regional European index, are listed on the Stockholm Stock Exchange. The index has 50 constituents representing 12 Eurozone countries, with the weight of each capped at 10% of the index's total market capitalisation. As of December 3, the index was up 17.32% for the year, according to Stoxx.
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