Thematic investing
with ETFs
Committed to commodities
Established in 2003, ETF Securities is a specialised issuer of Exchange Traded
Products (ETPs) with global assets under management of US$26.3 billion (as
at 31 July 2012). ETF Securities is a pioneer in the development of ETPs, which
are listed investment vehicles that aim to combine the benefits of access to
an underlying commodity, currency, stock market index or investment strategy
with the benefits of listing on a recognised and properly regulated exchange.
ETPs include Exchange Traded Commodities, Exchange Traded Currencies and
Exchange Traded Funds.
04
08
14
The benefits of Exchange Traded
Funds (ETFs)
ETF Securities and thematic ETFs
What is thematic investing?
1
2
3
4
5
6
7
8
ETFX DJ-UBS All Commodities 3 Month Forward Fund
ETFX DAXglobal Alternative Energy Fund
ETFX DAXglobal Coal Mining Fund
ETFX DAXglobal Gold Mining Fund
ETFX DAXglobal Shipping Fund
ETFX S-Net ITG Global Agri Business Fund
ETFX WNA Global Nuclear Energy Fund
ETFX Dow Jones Global Select Dividend Fund
ETF Securities (UK) Limited
3 Lombard Street
London EC3V 9AA
United Kingdom
4 | Thematic investing with ETFs
The benefits of Exchange
Traded Funds (ETFs)
An Exchange Traded Fund (ETF) is a listed investment vehicle that tracks a
specified index. By buying an ETF, an investor gains exposure to the underlying
index as easily as if they were buying an ordinary share on a stock exchange.
ETFs offer a number of benefits:
• Accuracy. ETFs are open ended in structure. This means
that the number of shares in issue grows or contracts
depending on the demand for the shares. The market price
of an ETF’s share is generally based on the value of the
underlying index.
• Accessibility. Unlike unlisted funds, ETFs are traded and
settled on regulated stock exchanges. They may be held in
ordinary brokerage or custodial accounts. In these respects,
they are like ordinary listed shares.
• Simplicity. ETFs can provide exposure to an index based on
multiple underlying securities, in one single trade.
• Transparency. Details of the indices on which the ETFs are
based are publicly available. The pricing and performance of
an ETF may therefore be verified independently.
• The flexibility that comes from being listed and traded on a
regulated stock exchange. This is a key difference between
ETFs and conventional investment funds.
• Cost effectiveness. Usually the management fees and other
costs of ETFs are low relative to those in respect of other
funds and collective investment vehicles.
5
6 | Thematic investing with ETFs
ETF Securities and thematic ETFs
7
In 2008, ETF Securities launched ETF Exchange, a platform of ETFs that
includes a series of thematic ETFs (the “ETFX Thematic ETFs”). Like other ETFs,
these are open-ended, cost-effective investment funds which are designed
to track the performance of specified market indices. They are all listed on
regulated stock exchanges and are traded and settled like ordinary shares.
The ETFX Thematic ETFs comply with
the European Union’s Undertaking for
Collective Investment in Transferable
Securities (UCITS) directive and are
also eligible for investment by other
UCITS vehicles. They are structured as
sub-funds of ETFX Fund Company plc,
which is an independent, open-ended
investment company that is domiciled
in Ireland.
Rather than investing directly in the
constituents of the underlying indices,
the ETFX Thematic ETFs use swaps in
order to replicate the performance of
the indices. Each ETF enters into swap
agreements with one or more banks,
whereby the ETF receives payments
from the bank when the index goes up
and makes payments to the bank when
the index goes down. By using swaps,
the ETF can efficiently track the upward
or downward performance of the index
without having to actually own the shares
which make up the index. The ETF
pays certain fees and expenses to the
bank for entering into the swaps. This
approach can be more cost effective than
conventional approaches such as buying
the underlying securities separately.
The ETFX Thematic ETF range is
supported by a consortium of four
leading investment banks: Bank of
America Merrill Lynch, Barclays Capital,
Citi and Rabobank International
act as swap counterparties. Using
multiple counterparties has a number
of advantages. The credit risk that
would result from the use of a single
counterparty is reduced. To further
mitigate counterparty risk all ETFs are
targeted to be fully-collaterised, which
means that cash or other transferable
securities are held independently on
behalf of the ETF.
8 | Thematic investing with ETFs
What is thematic investing?
The basic concept behind thematic investing is that there are global, or at least
international trends that provide the potential for superior returns to investors in
listed companies. Usually the trends are long-run in nature. The companies that
benefit from them may be concentrated in one or two national stock markets or
may be found in many different countries.
Traditionally, thematic investing has involved an active decision by an investment manager:
should a particular stock be included in a portfolio because it provides attractive and
suitable access to the trend in question? More recently, investment banks and other
index providers have developed indices that are suitable for investors who want to invest
thematically. The indices are designed so that they include leading stocks that could
reasonably be expected to benefit from the trend in question. Providers of thematic indices
generally provide details of their selection criteria for inclusion of stocks in an index.
The creation of these indices has provided a new opportunity for investors.
9
ETF Securities has developed eight thematic ETFs:
1
ETFX DJ-UBS All Commodities 3 Month Forward Fund
2
ETFX DAXglobal Alternative Energy Fund
3
ETFX DAXglobal Coal Mining Fund
4
ETFX DAXglobal Gold Mining Fund
5
ETFX DAXglobal Shipping Fund
6
ETFX S-Net ITG Global Agri Business Fund
7
ETFX WNA Global Nuclear Energy Fund
8
ETFX Dow Jones Global Select Dividend Fund
10 | Thematic investing with ETFs
1
ETFX DJ-UBS All Commodities
3 Month Forward Fund
ISIN: IE00B4WPHX27
The theme behind the Dow Jones-UBS Commodity Index 3 Month Forward
Total ReturnSM: changes to the prices of a basket of commodities
ETFX DJ-UBS All Commodities 3 Month Forward Fund is
designed to track the Dow Jones-UBS Commodity Index 3-Month
Forward Total ReturnSM 5.
According to the index provider (http://www.djindexes.com), the
index is based on the Dow Jones-UBS Commodity IndexSM - ‘a
broadly diversified index that allows investors to track commodity
futures through a single, simple measure.’ Both indices
‘are composed of futures contracts on a variety of physical
commodities. Unlike equities, which typically entitle the holder to
a continuing stake in a corporation, commodity futures contracts
normally specify a certain date for the delivery of the underlying
physical commodity. In order to avoid the delivery process and
maintain a long futures position, nearby contracts must be sold
and contracts that have not yet reached the delivery period
must be purchased. This process is known as “rolling” a futures
position.’3
The fund’s performance will be driven by movements in the value
of these underlying futures contracts, which are for delivery on a
rolling three month basis. The process of rolling helps to reduce
the impact of extreme volatilities in the value of the underlying
commodities.
The ETFX DJ-UBS All Commodities 3 Month Forward Fund
carries a management expense ratio (MER) of 0.55%.
11
ETFX DAXglobal
Alternative Energy Fund
2
ISIN: IE00B3CMS880
The theme behind the DAXglobal® Alternative Energy Index: demand for
clean energy
ETFX DAXglobal Alternative Energy Fund is designed to track the
performance of the DAXglobal® Alternative Energy Index.
requirement for alternative energies. The DAXglobal® Alternative
Energy Index replicates this global mega trend.’
According to the index provider (www.dax-indices.com),
‘alternative energies are increasingly considered as an
independent industry sector. Alternative energies not only address
global climate change and energy diversification but also energy
supply and the need for energy availability. Energy experts expect
considerable investments in renewable and alternative energies.
According to the International Energy Agency (IEA), the future
population growth and the increasing need for energy will require
annual investment of approximately € 800 billion until 2030. At the
same time the yearly economic damages will amount to 5 – 20%
of the worldwide GDP, if no considerable measures to reduce
the CO2-emissions are taken. Due to the foreseeable bottlenecks
in the global energy resources of fossil fuel, there will be an
increased demand for alternative energies such as solar, wind
and natural gas. The growing demand for energy in emerging
markets like China and India will provide an additional boost in the
The index provider notes that the DAXglobal® Alternative Energy
Index ‘replicates the performance of the fifteen largest companies
worldwide in the alternative energy segment. These energy
sources will increasingly replace the traditional fossil fuels oil and
coal in the future. Three companies have been selected from each
of the five energy sub-segments – wind, solar, natural gas, ethanol
and a cluster of geo-thermal, hydro energy and batteries. These
five segments are equally weighted. Within these sub-segments
companies qualify by market capitalisation and an average daily
trade volume of more than US$1million. This results in a balanced
coverage of relevant sub-segments and a broad international
diversification.’1
The ETFX DAXglobal Alternative Energy Fund carries a
management expense ratio (MER) of 0.65%.
12 | Thematic investing with ETFs
3
ETFX DAXglobal Coal
Mining Fund
ISIN: IE00B3CNHF18
The theme behind the DAXglobal® Coal Index: the continuing importance of
coal as an energy source
ETFX DAXglobal Coal Mining Fund is designed to track the
performance of the DAXglobal® Coal Index.
• Coal mining: companies that explore coal, mine coal or
provide coal mining support.
According to the index provider (www.dax-indices.com) the index
‘enables investors to profit from the solid demand of coal. Coal is
and will remain one of the main sources of energy, especially in
developing countries. Coal is indispensable for many industries.
For example, 64 % of all smelting furnaces used in the global
steel industry are coal-fired. Liquid coal is also becoming
increasingly important as a crude oil substitute, and coal is the
preferred energy source of the cement industry.’
• Coal equipment: companies that produce equipment for
coal mining, coal processing, coal transport or any other
component of the coal product lifecycle.
The index ‘constituents are exclusively companies from the areas
of coal mining, mining equipment and coal transportation that
generate at least 50% of their revenue from this sector.
• Coal transportation: companies involved in the transportation
of coal. Other: companies operating in any other field of the
coal industry (except power generation).’
‘The selection of the index constituents is based on market
capitalisation and the average daily traded value (ADTV).’1
The ETFX DAXglobal Coal Mining Fund carries a management
expense ratio (MER) of 0.65%.
13
ETFX DAXglobal Gold
Mining Fund
4
ISIN: IE00B3CNHG25
The theme behind the DAXglobal® Gold Miners Index: identifying companies
that could benefit from changes in the gold price
ETFX DAXglobal Gold Mining Fund is designed to track the
performance of the DAXglobal® Gold Miners Index.
According to the index provider (www.dax-indices.com), the ‘index
gives investors the opportunity to participate in and track the
performance of attractive growth companies operating around
the world primarily in the areas of gold mining. The constituents
are exclusively companies that generate at least 50% of their
income in this sector.’ The index provider suggests that ‘the index
enables investors to profit from the growing demand for gold
which is perceived as a safe investment, especially in times of
crisis and inflation.’
‘Gold mining covers exploration drilling, geological assessment,
financing, development, extraction, initial refinement, and
delivery of gold doré. The prices of gold mining shares are not
only dependent on the current prices of gold. Other components
are the presumed reserves and the relationship between gold
mining costs and the anticipated value of the gold extracted.’
The portfolio of the DAXglobal® Gold Miners index includes
companies that generate at least 50% of their revenues from
the seven aspects of gold mining identified in the previous
paragraph.
‘The selection of the index constituents is based on market
capitalisation and the average daily traded value (ADTV).’1
The ETFX DAXglobal Gold Mining Fund carries a management
expense ratio (MER) of 0.65%.
14 | Thematic investing with ETFs
5
ETFX DAXglobal
Shipping Fund
ISIN: IE00B3CMS880
The theme behind the DAXglobal® Shipping Index: globalisation and the
continuing importance of seaborne trade
ETFX DAXglobal Shipping Fund is designed to track the
performance of the DAXglobal® Shipping Index.
According to the index provider (www.dax-indices.com), the
‘index replicates the performance of the largest and most liquid
companies in the freight shipping industry.’
The index provider suggests that the ‘index enables investors
to profit from the growing globalisation and the international
exchange of goods.’
The portfolio of the DAXglobal® Shipping index includes
companies that generate at least 50% of their revenues from the
two major sub-sectors identified above.
The industry is seen as consisting of two major sub-sectors:
• Freight transport: ‘companies involved in the transport of
freight by sea, coastal and inland waters shipping, whether
scheduled or not, including the rental of ships or boats
with crew for waterborne cargo transport and the towing or
pushing of barges, oil rigs, etc.’
• Shipbuilders: ‘companies involved in the manufacture of
ships used in freight transport.’
‘The selection of the index constituents is based on market
capitalisation and the average daily traded value (ADTV).’1
The ETFX DAXglobal Shipping Fund carries a management
expense ratio (MER) of 0.65%.
15
ETFX S-Net ITG Global
Agri Business Fund
6
ISIN: IE00B3CNHD93
The theme behind the S-Net ITG Agriculture IndexSM: demand for food and other
agricultural commodities
ETFX S-Net ITG Global Agri Business Fund is designed to track
the performance of the S-Net ITG Agriculture IndexSM.
According to the index provider (http://www.snetglobalindexes.
com), the index ‘is designed to serve as a fair, impartial
and transparent measure of the performance of the Global
Agriculture Industry.’
The index contains only those companies engaged in “primary”
agriculture and excludes companies engaged in packaged
food production and distribution. Accordingly, it includes only
those companies that produce agricultural commodities and
products and services essential to the production of agricultural
commodities.
The index is ‘inclusive’ in that it ‘strives to include all companies
over a certain size that are significant participants in the global
agriculture industry.’ The index includes companies ‘engaged
in the following agricultural sectors: a) Seeds, Chemicals
and Fertilizers, b) Equipment and Irrigation, c) Commodity
Agricultural Products and d) Livestock Producers’.
Each company in the index ‘must generate at least 50% of
its revenues from its participation in the agricultural sector.’
Collectively, the companies in the index generate over 75% of
their ‘total revenues from agriculture-related activities.’4
The ETFX S-Net ITG Global Agri Business Fund carries a
management expense ratio (MER) of 0.65%.
16 | Thematic investing with ETFs
7
ETFX WNA Global
Nuclear Energy Fund
ISIN: IE00B3C94706
The theme behind the WNA Nuclear Energy IndexSM: the global demand for
electricity and the impact of this on nuclear power
ETFX WNA Global Nuclear Energy Fund is designed to track the performance of the WNA Nuclear Energy IndexSM.
According to the index provider (http://wna.snetglobalindexes.com), the index ‘is designed
to serve as a fair, impartial and transparent measure of the performance of the Global
Nuclear Energy Industry.’
The index is described as being ‘inclusive’ in that it ‘strives to include all companies over a
certain size that are significant participants in the global nuclear energy industry.’ The index
includes companies from five major sub-sectors: reactor designs; primary construction;
fuels; technology, equipment and service providers; and nuclear power generation. The
companies must ‘must pass minimum hurdles based on revenues derived from their nuclear
energy activities.’5
The ETFX WNA Global Nuclear Energy Fund carries a management expense ratio (MER)
of 0.65%.
17
ETFX Dow Jones Global
Select Dividend Fund
8
ISIN: IE00B67DFL95
The theme behind the Dow Jones Global Select Dividend IndexSM: in a world
where interest rates are relatively low, dividend yield can be an important
component of total return over time
ETFX Dow Jones Global Select Dividend Fund is designed to track the performance of
the Dow Jones Global Select Dividend IndexSM.
According to the index provider (http://www.djindexes.com), the index seeks ‘to
represent the stock performance of 100 leading dividend-paying companies
worldwide.’ The index is ‘derived from the developed-market portion of the Dow Jones
Global IndexSM.’ Stocks are screened for inclusion in the index on the basis of ‘dividend
per share growth rate, payout ratio and average daily volume.’3
In short, the dividends paid by the component companies must by high and
sustainable. To put further emphasis on dividend performance, constituents of the
index are dividend weighted rather than market capitalisation weighted. The weights of
individual securities are capped to prevent one or several components from dominating
the index.
The ETFX Dow Jones Global Select Dividend Fund carries a management expense ratio
(MER) of 0.50%.
18 | Thematic investing with ETFs
Important Information
Important Information: This financial promotion has been
issued and approved for the purpose of section 21 of the
Financial Services and Markets Act 2000 by ETF Securities
(UK) Limited (“ETFS UK”) which is authorized and regulated
by the United Kingdom Financial Services Authority (“FSA”).
The products discussed in this document are issued by ETFX
Fund Company plc (the “Issuer”), an open-ended investment
company with variable capital having segregated liability
between its sub-funds and is organised under the laws of Ireland
as a public limited company. The Issuer has been authorised
by the Central Bank of Ireland (the “Financial Regulator”) as
a UCITS pursuant to the European Communities (Undertaking
for Collective Investment in Transferable Securities) Regulations,
2003 and shall issue a separate class of shares (the “Shares”)
representing each sub-fund. The Shares discussed in this
document are issued by the ETFX WNA Global Nuclear Energy
Fund, ETFX S-Net ITG Global Agri Business Fund, ETFX
DAXglobal Shipping Fund, ETFX DAXglobal Gold Mining Fund,
ETFX DAXglobal Coal Mining Fund, ETFX S-Net ITG Global Agri
Business Fund, ETFX DAXglobal Alternative Energy Fund, Dow
Jones Global Select Total Return IndexSM, ETFX DJ-UBS All
Commodities 3 Month Forward Fund (the “Funds”).
This communication constitutes an advertisement within the
meaning of Section 31 para. 2 of the German Securities Trading
Act (Wertpapierhandelsgesetz – WpHG); it is not a financial
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financial analysis and is also not subject to the ban on trading
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No investment advice: ETFS UK is required by the FSA
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Historical performance is no indication of future
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strategy would have been. However, back tested performance
is purely hypothetical and is provided in this document solely for
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indication of actual or future performance.
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and other risks associated with an investment in the securities
offered by the Issuer.
1
http://www.dax-indices.com, as at 8 August 2012
2
http://www.etfsecurities.com, as at 8 August 2012.
3
http://www.djindexes.com, as at 8 August 2012.
4
http://itg.snetglobalindexes.com, as at 8 August 2012.
5
http://wna.snetglobalindexes.com, as at 8 August 2012.
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be restricted by law.
For Dutch investors: The Fund has been registered with the
Netherlands Authority for the Financial Markets following the
UCITS passport-procedure pursuant to section 2:72 of the
Dutch Financial Supervision Act.
19
For French investors: The Issuer is a UCITS governed by Irish
legislation and approved by the Financial Regulator as UCITS
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simplified prospectus, any supplements or addenda thereto, the
latest annual reports and the memorandum of incorporation and
articles of association) are available in France, free of charge,
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For United Kingdom investors: The Fund is a recognised
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the prospectus, the simplified prospectus, the latest previous
annual reports and the memorandum of incorporation and the
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www.etfsecurities.com.
Third parties: The ETFX WNA Global Nuclear Energy Fund is
not sponsored, endorsed, sold or promoted by WNA Global
Indexes, LLC, (“WGI”). WGI makes no representation or warranty,
express or implied, to the shareholders of the Issuer or any
member of the public regarding the advisability of investing in
securities generally or in the ETFX WNA Global Nuclear Energy
Fund particularly or the ability of the WNA Nuclear Energy
IndexSM to track the performance of the securities market.
WGI’s only relationship to the Issuer is the licensing of certain
service marks and trade names of WGI and of the WNA Nuclear
Energy IndexSM to its promoter, which service marks and trade
names are determined, composed and calculated by WGI
without regard to the Issuer or the ETFX WNA Global Nuclear
Energy Fund. WGI has no obligation to take the needs of the
ETFX WNA Global Nuclear Energy Fund or its shareholders
into consideration in determining, composing or calculating
the WNA Nuclear Energy IndexSM. WGI is not responsible for
and has not participated in the determination of the prices at
which Shares of the ETFX WNA Global Nuclear Energy Fund
are issued. WGI has no obligation or liability in connection with
the administration, marketing or trading of the ETFX WNA Global
Nuclear Energy Fund.
WGI DOES NOT GUARANTEE THE ACCURACY AND/OR
THE COMPLETENESS OF THE WNA NUCLEAR ENERGY
INDEXSM OR ANY DATA INCLUDED THEREIN AND WGI
SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS,
OR INTERRUPTIONS THEREIN. WGI MAKES NO WARRANTY,
EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED
BY THE ETFX WNA GLOBAL NUCLEAR ENERGY FUND, ITS
SHAREHOLDERS, OR ANY OTHER PERSON OR ENTITY FROM
THE USE OF THE WNA NUCLEAR ENERGY INDEXSM OR
ANY DATA INCLUDED THEREIN. WGI MAKES NO EXPRESS
OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS
ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR
A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE
WNA NUCLEAR ENERGY INDEXSM OR ANY DATA INCLUDED
THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING,
IN NO EVENT SHALL WGI HAVE ANY LIABILITY FOR ANY
SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL
DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED
OF THE POSSIBILITY OF SUCH DAMAGES.
The ETFX S-Net ITG Global Agri Business Fund is not sponsored,
endorsed, sold or promoted by S-Network Global Indexes, LLC,
(“SNGI”). SNGI makes no representation or warranty, express
or implied, to the shareholders of the Issuer or any member of
the public regarding the advisability of investing in securities
generally or in the ETFX S-Net ITG Global Agri Business Fund
particularly or the ability of the S-Network ITG Agriculture
IndexSM to track the performance of the securities market.
SNGI’s only relationship to the Issuer is the licensing of certain
service marks and trade names of SNGI and of the S-Network
ITG Agriculture IndexSM to the Issuer’s promoter, which
service marks and trade names are determined, composed
and calculated by SNGI without regard to the ETFX S-Net ITG
Global Agri Business Fund. SNGI has no obligation to take the
needs of the ETFX S-Net ITG Global Agri Business Fund or its
shareholders into consideration in determining, composing or
calculating the S-Network ITG Agriculture IndexSM. SNGI is not
responsible for and has not participated in the determination of
the prices at which shares of the ETFX S-Net ITG Global Agri
Business Fund are issued. SNGI has no obligation or liability in
connection with the administration, marketing or trading of the
ETFX S-Net ITG Global Agri Business Fund.
SNGI DOES NOT GUARANTEE THE ACCURACY AND/OR THE
COMPLETENESS OF THE S-NETWORK ITG AGRICULTURE
INDEXSM OR ANY DATA INCLUDED THEREIN AND SNGI
SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS,
OR INTERRUPTIONS THEREIN. SNGI MAKES NO WARRANTY,
EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED
BY THE ETFX S-NET ITG GLOBAL AGRI BUSINESS FUND,
ITS SHAREHOLDERS, OR ANY OTHER PERSON OR ENTITY
FROM THE USE OF THE S-NETWORK ITG AGRICULTURE
INDEXSM OR ANY DATA INCLUDED THEREIN. SNGI MAKES
NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY
DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR
FITNESS FOR A PARTICULAR PURPOSE OR USE WITH
RESPECT TO THE S-NETWORK ITG AGRICULTURE INDEXSM
OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING
ANY OF THE FOREGOING, IN NO EVENT SHALL SNGI HAVE
ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR
CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS),
EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.
The ETFX DAXglobal Shipping Fund is neither sponsored nor
promoted, distributed or in any other manner supported by
Deutsche Börse AG (the “Licensor”). The Licensor does not
give any explicit or implicit warranty or representation, neither
regarding the results deriving from the use of the DAXglobal®
Shipping Index and/or the term DAXglobal® (the “Index
Trademark”) nor regarding the DAXglobal® Shipping Index
value at a certain point in time or on a certain date nor in any
other respect. The DAXglobal® Shipping Index is calculated and
published by the Licensor. Nevertheless, as far as admissible
under statutory law the Licensor will not be liable vis-à-vis third
parties for potential errors in the DAXglobal® Shipping Index.
Moreover, there is no obligation for the Licensor vis-à-vis third
parties, including investors, to point out potential errors in the
DAXglobal® Shipping Index. Neither the publication of the
DAXglobal® Shipping Index by the Licensor nor the granting
of a license to the issuer’s promoter regarding the DAXglobal®
Shipping Index as well as the Index Trademark for the utilisation
in connection with the ETFX DAXglobal Shipping Fund, which
is derived from the DAXglobal® Shipping Index, represents a
recommendation by the Licensor for a capital investment or
contains in any manner a warranty or opinion by the Licensor
with respect to the attractiveness of an investment in the
ETFX DAXglobal Shipping Fund. In its capacity as sole owner
of all rights to the DAXglobal® Shipping Index and the Index
Trademark the Licensor has solely licensed to the promoter
of the ETFX DAXglobal Shipping Fund the utilisation of the
DAXglobal® Shipping Index and the Index Trademark as well as
any reference to the DAXglobal® Shipping Index and the Index
Trademark in connection with the ETFX DAXglobal Shipping
Fund.
The ETFX DAXglobal Gold Mining Fund is neither sponsored
nor promoted, distributed or in any other manner supported by
Deutsche Börse AG (the “Licensor”). The Licensor does not
give any explicit or implicit warranty or representation, neither
regarding the results deriving from the use of the DAXglobal®
Gold Miners Index and/or the term DAXglobal® (the “Index
Trademark”) nor regarding the DAXglobal® Gold Miners Index
value at a certain point in time or on a certain date nor in any other
respect. The DAXglobal® Gold Miners Index is calculated and
published by the Licensor. Nevertheless, as far as admissible
under statutory law the Licensor will not be liable vis-à-vis third
parties for potential errors in the DAXglobal® Gold Miners Index.
Moreover, there is no obligation for the Licensor vis-à-vis third
parties, including investors, to point out potential errors in the
DAXglobal® Gold Miners Index. Neither the publication of the
DAXglobal® Gold Miners Index by the Licensor nor the granting
of a license to the Issuer’s promoter regarding the DAXglobal®
Gold Miners Index as well as the Index Trademark for the
utilisation in connection with the ETFX DAXglobal Gold Mining
Fund, which is derived from the DAXglobal® Gold Miners Index,
represents a recommendation by the Licensor for a capital
investment or contains in any manner a warranty or opinion by
the Licensor with respect to the attractiveness of an investment
in the ETFX DAXglobal Gold Mining Fund. In its capacity as
sole owner of all rights to the DAXglobal® Gold Miners Index
and the Index Trademark the Licensor has solely licensed to
the promoter of the ETFX DAXglobal Gold Mining Fund the
utilisation of the DAXglobal® Gold Miners Index and the Index
Trademark as well as any reference to the DAXglobal® Gold
Miners Index and the Index Trademark in connection with the
ETFX DAXglobal Gold Mining Fund.
The ETFX DAXglobal Coal Mining Fund is neither sponsored
nor promoted, distributed or in any other manner supported by
Deutsche Börse AG (the “Licensor”). The Licensor does not
give any explicit or implicit warranty or representation, neither
regarding the results deriving from the use of the DAXglobal®
Coal Mining Index and/or the term DAXglobal® (the “Index
Trademark”) nor regarding the DAXglobal® Coal Mining Index
value at a certain point in time or on a certain date nor in any other
respect. The DAXglobal® Coal Mining Index is calculated and
published by the Licensor. Nevertheless, as far as admissible
under statutory law the Licensor will not be liable vis-à-vis third
parties for potential errors in the DAXglobal® Coal Mining Index.
Moreover, there is no obligation for the Licensor vis-à-vis third
parties, including investors, to point out potential errors in the
DAXglobal® Coal Mining Index. Neither the publication of the
DAXglobal® Coal Mining Index by the Licensor nor the granting
of a license to the Issuer’s promoter regarding the DAXglobal®
Coal Mining Index as well as the Index Trademark for the
utilisation in connection with the ETFX DAXglobal Coal Mining
Fund, which is derived from the DAXglobal® Coal Mining Index,
represents a recommendation by the Licensor for a capital
investment or contains in any manner a warranty or opinion by
the Licensor with respect to the attractiveness of an investment
in the ETFX DAXglobal Coal Mining Fund. In its capacity as
sole owner of all rights to the DAXglobal® Coal Mining Index
and the Index Trademark the Licensor has solely licensed to the
promoter of the ETFX DAXglobal Coal Mining Fund the utilisation
of the DAXglobal® Coal Mining Index and the Index Trademark
as well as any reference to the DAXglobal® Coal Mining Index
and the Index Trademark in connection with the ETFX DAXglobal
Coal Mining Fund.
The ETFX DAXglobal Alternative Energy Fund is neither
sponsored nor promoted, distributed or in any other manner
supported by Deutsche Börse AG (the “Licensor”). The
Licensor does not give any explicit or implicit warranty or
representation, neither regarding the results deriving from
the use of the DAXglobal® Alternative Energy Index and/or
the term DAXglobal® (the “Index Trademark”) nor regarding
the DAXglobal® Alternative Energy Index value at a certain
point in time or on a certain date nor in any other respect.
The DAXglobal® Alternative Energy Index is calculated and
published by the Licensor. Nevertheless, as far as admissible
under statutory law the Licensor will not be liable vis-à-vis
third parties for potential errors in the DAXglobal® Alternative
Energy Index. Moreover, there is no obligation for the Licensor
vis-à-vis third parties, including investors, to point out potential
errors in the DAXglobal® Alternative Energy Index. Neither the
publication of the DAXglobal® Alternative Energy Index by the
Licensor nor the granting of a license to the Issuer’s promoter
regarding the DAXglobal® Alternative Energy Index as well as
the Index Trademark for the utilisation in connection with the
ETFX DAXglobal Alternative Energy Fund, which is derived
from the DAXglobal® Alternative Energy Index, represents a
recommendation by the Licensor for a capital investment or
contains in any manner a warranty or opinion by the Licensor
with respect to the attractiveness of an investment in the ETFX
DAXglobal Alternative Energy Fund. In its capacity as sole
owner of all rights to the DAXglobal® Alternative Energy Index
and the Index Trademark the Licensor has solely licensed to the
promoter of the ETFX DAXglobal Alternative Energy Fund the
utilisation of the DAXglobal® Alternative Energy Index and the
Index Trademark as well as any reference to the DAXglobal®
Alternative Energy Index and the Index Trademark in connection
with the ETFX DAXglobal Alternative Energy Fund.
The Dow Jones Global Select Total Return IndexSM is a
product of Dow Jones Indexes, a licensed trademark of CME
Group Index Services LLC (“CME”), and has been licensed
for use. “Dow Jones®”, “Dow Jones Global Select Total Return
IndexSM” and “Dow Jones Indexes” are service marks of Dow
Jones Trademark Holdings, LLC (“Dow Jones”) and have been
licensed for use for certain purposes by ETF Securities Limited.
ETF Securities’ ETFX Dow Jones Global Select Dividend Fund
based on the Dow Jones Global Select Total Return IndexSM is
not sponsored, endorsed, sold or promoted by CME Indexes,
Dow Jones or their respective affiliates, and CME Indexes, Dow
Jones and their respective affiliates make no representation
regarding the advisability of trading in such product.
The Dow Jones-UBS Commodity IndexesSM are a joint product
of Dow Jones Opco, LLC (“Dow Jones Opco”), a subsidiary
of S&P Dow Jones Indices LLC, and UBS Securities LLC
(“UBS”), and have been licensed for use. Dow Jones® and DJ
are trademarks of Dow Jones Trademark Holdings LLC. UBS®
is a registered trademark of UBS AG. S&P® is a registered
trademark of Standard & Poor’s Financial Services LLC. ETF
Securities Limited’s ETFX DJ-UBS All Commodities 3 Month
Forward Fund based on the Dow Jones-UBS Commodity Index
3 Month Forward Total ReturnSM, are not sponsored, endorsed,
sold or promoted by Dow Jones, UBS, Dow Jones Opco or
any of their respective subsidiaries or affiliates, and none of
Dow Jones, UBS, Dow Jones Opco or any of their respective
affiliates, makes any representation regarding the advisability of
investing in such product(s).
Thematic ETFs
Exchange¹
ETFX DJ-UBS All Commodities 3 Month
Forward Fund
ETFX DAXglobal Alternative Energy Fund
ETFX DAXglobal Coal Mining Fund
ETFX DAXglobal Gold Mining Fund
ETFX DAXglobal Shipping Fund
ETFX S-Net ITG Global Agri
Business Fund
ETFX WNA Global Nuclear Energy Fund
ETFX Dow Jones Global Select
Dividend Fund
1
Bloomberg
Code
Reuters
Code
Exchange
Code
ISIN
SEDOL
Code
Base
Currency
Trading
Currency
MER
0.55%
UK
COMF LN
COMF.L
COMF
IE00B4WPHX27
B4WPHX2
USD
USD
UK
CMFP LN
CMFPP.L
CMFP
IE00B4WPHX27
B51WGY5
USD
GBX
0.55%
DE
ETL2 GY
ETL2.DE
ETL2
DE000A1CXBV8
B3XCCV8
USD
EUR
0.55%
CH
COMF SW
ECCOMF.S
COMF
IE00B4WPHX27
B7TBX69
USD
CHF
0.55%
UK
ALTE LN
ALTE.L
ALTE
IE00B3CNHC86
B3CJYF8
EUR
EUR
0.65%
UK
ALTP LN
ALTEP.L
ALTP
IE00B3CNHC86
B3DWS21
EUR
GBX
0.65%
FR & NL
ALTE NA
ALTE.AS
ALTE
IE00B3CNHC86
B3D34Y8
EUR
EUR
0.65%
0.65%
DE
ETLU GY
ETLU.DE
ETLU
DE000A0Q8M94
B3K69S9
EUR
EUR
IT
ALTE IM
ALTE.MI
ALTE
IE00B3CNHC86
B3L9W33
EUR
EUR
0.65%
CH
ALTE SW
ALTE.S
ALTE
IE00B3CNHC86
B4ZP8W5
EUR
CHF
0.65%
UK
COAL LN
KOAL.L
COAL
IE00B3CNHF18
B3CJV80
USD
USD
0.65%
UK
COAP LN
COAP.L
COAP
IE00B3CNHF18
B3DWRK2
USD
GBX
0.65%
FR & NL
KOAL NA
KOAL.AS
KOAL
IE00B3CNHF18
B3D34T3
USD
EUR
0.65%
DE
ETLW GY
ETLW.DE
ETLW
DE000A0Q8NB0
B3K69Z6
USD
EUR
0.65%
IT
AUCO IM
AUCO.MI
AUCO
IE00B3CNHG25
B3L9VL4
USD
EUR
0.65%
CH
COAL SW
KOAL.S
COAL
IE00B3CNHF18
B71G8J0
USD
CHF
0.65%
UK
AUCO LN
AUCO.L
AUCO
IE00B3CNHG25
B3CJVD5
USD
USD
0.65%
UK
AUCP LN
AUCOP.L
AUCP
IE00B3CNHG25
B3DWRM4
USD
GBX
0.65%
FR & NL
AUCO NA
AUCO.AS
AUCO
IE00B3CNHG25
B3D34V5
USD
EUR
0.65%
DE
ETLX GY
ETLX.DE
ETLX
DE000A0Q8NC8
B3K6B27
USD
EUR
0.65%
IT
AUCO IM
AUCO.MI
AUCO
IE00B3CNHG25
B3L9VL4
USD
EUR
0.65%
CH
AUCO SW
AUCO.S
AUCO
IE00B3CNHG25
B71GBH9
USD
CHF
0.65%
UK
SHIP LN
SHIP.L
SHIP
IE00B3CMS880
B3CPX60
USD
USD
0.65%
UK
SHPP LN
SHPP.L
SHPP
IE00B3CMS880
B3DWRT1
USD
GBX
0.65%
FR & NL
SHIP NA
SHIP.AS
SHIP
IE00B3CMS880
B3D34X7
USD
EUR
0.65%
DE
ETLP GY
ETLP.DE
ETLP
DE000A0Q8M45
B3K69C3
USD
EUR
0.65%
IT
SHIP IM
SHIP.MI
SHIP
IE00B3CMS880
B3L9VV4
USD
EUR
0.65%
CH
SHIP SW
SHIP.S
SHIP
IE00B3CMS880
B6YR741
USD
CHF
0.65%
UK
AGRI LN
MOOO.L
AGRI
IE00B3CNHD93
B3CJV46
USD
USD
0.65%
UK
AGRP LN
MOOP.L
AGRP
IE00B3CNHD93
B3DWRH9
USD
GBX
0.65%
FR & NL
MOOO NA
MOOO.AS
MOOO
IE00B3CNHD93
B3D34S2
USD
EUR
0.65%
0.65%
DE
ETLV GY
ETLV.DE
ETLV
DE000A0Q8NA2
B3K69X4
USD
EUR
IT
AGRI IM
AGRIT.MI
AGRI
IE00B3CNHD93
B3L9VG9
USD
EUR
0.65%
CH
AGRI SW
MOOO.S
AGRI
IE00B3CNHD93
B71G6P2
USD
CHF
0.65%
0.65%
UK
NUKE LN
NUKE.L
NUKE
IE00B3C94706
B3CJT08
USD
USD
UK
NUKP LN
NUKP.L
NUKP
IE00B3C94706
B3DWRD5
USD
GBX
0.65%
FR & NL
NUKE NA
NUKE.AS
NUKE
IE00B3C94706
B3D34Q0
USD
EUR
0.65%
DE
ETLN GY
ETLN.DE
ETLN
DE000A0Q8M37
B3K6967
USD
EUR
0.65%
IT
NUKE IM
NUKE.MI
NUKE
IE00B3C94706
B3L66M1
USD
EUR
0.65%
CH
NUKE SW
NUKE.S
NUKE
IE00B3C94706
B3QRQ29
USD
CHF
0.65%
UK
GDIV LN
GDIV.L
GDIV
IE00B67DFL95
B460HS8
USD
USD
0.50%
DE
ETL5 GY
ETL5.DE
ETL5
DE000A1H81A3
B625J74
USD
EUR
0.50%
CH
GDIV SW
GDIV.S
GDIV
IE00B67DFL95
B41XB46
USD
CHF
0.50%
UK = London Stock Exchange, DE = Deutsche Börse (Xetra), FR & NL = NYSE Euronext, IT = Borsa Italiana, CH = Six Swiss Exchange.
ETF Securities (UK) Limited
3 Lombard Street
London EC3V 9AA
United Kingdom
T +44 (0)20 7448 4330
E [email protected]
W etfsecurities.com/aboutus