| AXA
Investment Managers Steps Into ETF Ring
By IndexFunds.com Staff
April 26, 2001 |
|
Three exchange-traded funds (ETFs) based on broad global and
regional benchmarks began trading on Euronext yesterday.
They are hitched to the following indexes:
- Dow Jones Global Titans 50 Index
- Dow Jones STOXX 50 Index
- Dow Jones Euro STOXX 50 Index
Euronext is the exchange created by the merger of the Amsterdam,
Brussels, and Paris exchanges in September 2000. The exchange
now lists several ETFs, including "Leaders" (LDRS) and
several Barclays iShares
based on Bloomberg indexes.
The announcement signals the entry of AXA Investment Managers
into the ever-expanding world of ETFs, or "trackers"
as they call them in Europe. These three new offerings are the
first in a series by AXA called EasyETF.
There are currently two LDRS that trade on Euronext that are
based on the STOXX 50 and the Euro STOXX 50, but now Europeans
have access to a broad global index comprised of international
blue chip companies in the Global Titans Index.
"We chose the Dow Jones Global Titans 50 to offer European
investors 50 of the world's leading multinational corporations,"
said Timothy Ryan, head of quantitative research for AXA Investment
Managers.
| Index |
3 mo. ret. |
1 yr. ret. |
3 yr. ann.
ret. |
5 yr. ann.
ret. |
| Dow Jones Global Titans 50
|
-7.83% |
-22.05% |
1.59% |
9.47% |
| Dow Jones STOXX 50 |
-11.44% |
-18.68% |
1.97% |
13.28% |
| Dow Jones Euro STOXX 50 |
-11.17% |
-18.07% |
3.81% |
13.86% |
Sources: Dow Jones Indexes, STOXX daily
closing price index data - all data as of 4/25/2001
The STOXX 50 index holds large companies throughout Europe, while
the Euro STOXX 50 is comprised of securities from countries in
the Eurozone (countries that will soon transition exclusively
to Euro currency). The chart below shows the performance of the
two indexes over the past decade:
Chart courtesy of STOXX
State Street to Launch REIT ETF
The American Stock Exchange (AMEX) will commence trading
on a streetTRACKS ETF tied to the Wilshire Real Estate Investment
Trust (REIT)
Index tomorrow. The new fund, managed by State Street Global
Advisors (SSgA), will have an expense ratio of 0.25% and trade
under the symbol RWR.
| Index |
1 yr. ret. |
3 yr. ret. |
5 yr. ann. ret. |
10 yr. ann. ret. |
15 yr. ann. ret. |
| Wilshire REIT |
25.93% |
1.94% |
10.87% |
10.17% |
7.67% |
| S&P 500 |
-21.67% |
3.05% |
14.18% |
14.41% |
14.03% |
Source: Morningstar data as of 3/30/2001
