WisdomTree Short EUR Long GBP 3x Daily
WisdomTree Short EUR Long GBP 3x Daily is an exchange traded currency (""ETC""). Its securities can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company.
The ETC obtains exposure to the Index by entering into unfunded swaps with a counterparty. There is no upfront cash payment by the Issuer to the counterparty when an unfunded swap is created. However, daily cash payments are made between the Issuer and the counterparty to reflect the movements in the value of the Index.
Separately, the Issuer uses the cash it holds to purchase eligible collateral from the counterparty under a daily reverse repurchase agreement (""reverse repo""), an agreement whereby the counterparty agrees to repurchase such eligible collateral from the Issuer the following day. The eligible collateral is held by the custodian in a custody account.
*Formerly ETFS 3x Short EUR Long GBP
|Currency hedged||No – this product is not protected against adverse currency movements|
|Daily Change (31 Mar 2020)||1.20%|
|Price (NAV) (31 Mar 2020)||£32.17|
|Replication method||Synthetic - unfunded swap backed by collateral|
|Legal form||Debt security|
|Securities regulator||Financial Conduct Authority (FCA UK)|
|UK Reporting Status||Yes|
|Key Service Providers|
|Trustee||The Law Debenture Trust Corporation p.l.c.|
|Issuer||WisdomTree Foreign Exchange Limited|
|Registrar||Computershare Investor Services (Jersey) Ltd|
|Collateral manager||The Bank of New York Mellon|
|Counterparty||Morgan Stanley & Co. International plc|
|Daily Swap Rate||0.00233%|
|Entry / Exit fees||None when traded on Exchange|
Listings & Codes
|Listings & Codes|
i The above chart presents information about the difference between the daily market price for shares of the Fund and the Fund's net asset value. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. eastern time for most Funds). The vertical axis of the chart shows the premium or discount expressed as a percentage of mid-point.
MSFXSM Triple Short Euro/GBP Index (TR)
The Index provides a 3x leveraged 'short' exposure to: (i) EUR relative to GBP. For example, if EUR were to rise in value relative to GBP, the Index (tracked by the ETC) would decrease in value by three times the same amount. Conversely if EUR were to decrease in value relative to GBP, the Index would increase in value by three times the same amount; and (ii) an interest rate differential reflecting the difference between the EUR and the GBP exchange rates.
The Index is a total return index, which means that it also provides a collateral yield.
|Index Name||MSFXSM Triple Short Euro/GBP Index (TR)|
|Index Constituent Count||1|
|Index Type||Total Return|
|Reuters Index Ticker||n.a.|
|Security||30 Mar 2020|
|1. Bloomberg WTI Crude Oil Subindex Total Return||100.00%|
|Currency (weighting)||30 Mar 2020|
|3. Pound Sterling||14.65%|
|4. US Dollar||5.65%|
|Country (weighting)||30 Mar 2020|
|3. UNITED KINGDOM||14.65%|
|4. UNITED STATES||5.65%|
|Constituents Top 20||30 Mar 2020|
|1. JAPAN TREASURY DISCOUNT 0.0 22FEB21||24.07%|
|2. FRENCH REPUBLIC GOV 2.25 25JUL20 IL||18.04%|
|3. UNITED KINGDOM GILT 3.5 22JUL68||12.26%|
|4. JAPAN GOVERNMENT TWO YE 0.1 01JUN20||9.34%|
|5. UNITED STATES TREAS BD 2.75 15NOV42||5.49%|
|6. FRANCE TREASURY BILL BT 0.0 12AUG20||4.53%|
|7. FRENCH REPUBLIC GOVE 1.1 25JUL22 IL||4.38%|
|8. FRENCH REPUBLIC GOVERN 3.25 25MAY45||4.05%|
|9. FRENCH REPUBLIC GOVERNM 0.0 25NOV29||3.16%|
|10. FRENCH REPUBLIC GOVERNM 0.0 25FEB23||2.85%|
|11. FRENCH REPUBLIC GOVERN 0.25 25NOV26||2.53%|
|12. UNITED KINGDOM GILT 2.5 22JUL65||2.45%|
|13. BUNDESREPUBLIK DEUTSCHL 3.0 04JUL20||1.90%|
|14. REPUBLIC OF AUSTR 3.65 20APR22 144A||1.33%|
|15. FRANCE GOVERNMENT BD 5.5 25APR2029||1.15%|
|16. BUNDESOBLIGATION 0.0 05APR24||1.01%|
|17. FRENCH REPUBLIC GOVERNM 3.5 25APR26||0.62%|
|18. FRENCH REPUBLIC GOVE 0.1 01MAR28 IL||0.59%|
|19. UNITED STATES TREAS 0.75 15FEB45 IL||0.17%|
|20. FRENCH REPUBLIC GOVERNM 1.0 25MAY27||0.09%|
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