Amundi Launches Low-Cost U.S. Equity ETF in Europe
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Amundi has extended its suite of equity ETFs with the launch of a U.S. equity ETF for 3 basis points alongside an MSCI World ex-U.S. exposure.
The Amundi MSCI USA UCITS ETF (WEBH) and the Amundi MSCI World EX USA UCITS ETF (WEXE) are listed on the Deutsche Boerse with a total expense ratio (TER) of 0.03% and 0.15%, respectively. WEBH tracks the MSCI USA index, providing exposure to the performance of around 85% of the free float-adjusted market capitalisation in the US.
WEXE tracks the MSCI World EX USA index, which captures 828 large and mid-cap companies across developed markets countries excluding the U.S.
Novo Nordisk, ASML, Nestle
The top three holdings are Novo Nordisk (2.3%), ASML (1.8%) and Nestle (1.5%), with Japan holding the highest country weighting at 20.4%.
Benoit Sorel, head of ETF, indexing and smart beta at Amundi, said: “These two ETFs offer investors the opportunity to manage their exposure to US and global markets more precisely, adding an already comprehensive toolkit for increasingly granular allocation.
“These new offerings demonstrate our commitment to developing valuable solutions tailored to our clients' needs.”
The launch follows the boom of ‘magnificent seven’ stocks which has led to an increasingly higher weighting in the MSCI World index, of which the US currently accounts for 72%.
WEXE matches the fee of the Xtrackers MSCI World ex USA UCITS ETF (EXUS) which launched in March this year.