Source unveils eurozone banks ETF

The ETF, trading on the Deutsche Boerse's Xetra platform at a total expense ratio of 0.30%, comes alongside Source's existing Stoxx Europe 600 Bank ETF, which has traded over €2bn on average since May 2010. Source says these volumes have been driven by the performance dynamics and macro environment surrounding European banks, but adds the relative performance of banks in countries such as Spain has highlighted the need for a tradable ETF targeting eurozone banks. Source CEO Ted Hood explains: "We have seen a significant increase in demand for eurozone banks sector exposure." The Eu...