Stoxx index to underlie new exchange-traded fund

The Dow Jones Stoxx 50 index has been licensed to ETFlab Investment to underlie a new exchange-traded fund (ETF). The index, which is one of the benchmarks for European equity performance, includes blue-chip super sector leaders from 18 countries across Europe.

The ETF will be listed on Deutsche Börse today. It joins several existing funds already based on the index which are listed across Europe and in the US, from providers including Easy ETF and iShares. ETFlab has already launched a fund based on the Dow Jones Eurostoxx 50, which includes companies from the eurozone.

The index is weighted by float-adjusted market capitalisation, with the maximum set at 10% of the index's total value for each constituent. It is rebalanced every September.

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