ETFS Bearish EUR vs G10 Currency Basket Securities
SEUB 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 daily 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.
|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|
|Custodian||The Bank of New York Mellon|
|Trustee||The Law Debenture Trust Corporation p.l.c.|
|Issuer||ETFS Foreign Exchange Limited|
|Registrar||Computershare Investor Services (Jersey) Ltd|
|Collateral manager||The Bank of New York Mellon|
|Counterparty||Morgan Stanley & Co. International plc|
Listings & Codes
|Listings & Codes|
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.
† Source: Bloomberg, all data delayed at least 15 minutes.
Note: Volume is the number of securities traded on the relevant Exchange. Estimated value of securities traded (volume x Last price). For the purposes of showing the total turnover, we convert the turnover for each product from its trading currency into USD using a standard end-of-day benchmark exchange rate.
Diversified EUR Short Basket Index (EUR) (TR)
The Index gives investors a negative or inverse exposure to the Euro relative to a basket of G10 currency pairs. If the Euro were to fall against all nine G10 currencies, then the Index would rise in value. Conversely, if the Euro were to rise in value against all nine G10 currencies, then the Index would fall in value. The index return also includes a component based on the interest rate differentials, reflecting the difference between Eurozone interest rates and those of other countries in the basket and which is obtained by rolling positions daily.
The Index is a total return index, which means that it also provides a collateral yield.
|Index Name||Diversified EUR Short Basket Index (EUR) (TR)|
|Index Constituent Count||9|
|Index Type||Total Return|
|Security||24 May 2019|
|Currency (weighting)||24 May 2019|
|1. US Dollar||29.60%|
|2. Pound Sterling||15.38%|
|4. Yuan Renminbi||9.29%|
|6. Hong Kong Dollar||5.65%|
|7. Swiss Franc||4.40%|
|8. Cayman Islands Dollar||4.09%|
|9. Swedish Krona||2.55%|
|10. Bermudian Dollar||2.43%|
|11. Canadian Dollar||1.99%|
|12. New Israeli Sheqel||1.94%|
|Country (weighting)||24 May 2019|
|1. UNITED STATES||29.60%|
|2. UNITED KINGDOM||15.38%|
|5. HONG KONG||5.65%|
|8. CAYMAN ISLANDS||4.09%|
|Constituents Top 20||24 May 2019|
|1. UNITED KINGDOM GILT 2.0 22JUL20||5.77%|
|2. VISA INC USD 0.0001||2.00%|
|3. WH GROUP LTD USD 0.0001 144A||2.00%|
|4. WESTROCK CO USD 0.01||2.00%|
|5. UNITED UTILITIES GROUP PLC 5P||2.00%|
|6. ESSITY AB SEK 3.35||2.00%|
|7. DIAGEO PLC 28.93518P||2.00%|
|8. HERMES INTERNATIONAL NPV||2.00%|
|9. HUNT(JB)TR COM USD0.01||2.00%|
|10. INFOSYS LTD INR 5.0 ADR||2.00%|
|11. JAPAN TOBACCO INC NPV||2.00%|
|12. MICHELIN EUR 2.0 REGD||2.00%|
|13. MURATA MFG NPV||2.00%|
|14. PARTNERS GROUP HOLDING AG CHF 0.01||2.00%|
|15. RED HAT INC USD 0.0001||2.00%|
|16. TECHNIPFMC PLC USD 1.0||2.00%|
|17. AIA GROUP LTD NPV||2.00%|
|18. BROADCOM INC NPV||2.00%|
|19. CELGENE CO COM USD0.01||2.00%|
|20. CHINA CONSTRUCTION BANK COR CNY 1.0||2.00%|
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