Solactive launches Spain equity benchmark

Jun 27th, 2017 | By | Category: Equities

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Germany-based index provider Solactive has launched the Solactive Spain 40 Index, a new benchmark index tracking the performance of the forty largest and most liquid companies listed in Spain. The index has been adopted as the underlying reference for the Xtrackers Spanish Equity UCITS ETF (DXIBX).

Solactive launches Spain equity benchmark

Steffen Scheuble, CEO of Solactive

This ETF was formerly the Xtrackers IBEX 35 UCITS ETF, which tracked the IBEX 35 Index.

The Solactive Spain 40 Index is a free-float market capitalisation weighted index covering approximately 63% of the total Spanish equity market. To be eligible for inclusion, company shares must be listed on the Madrid Stock Exchange. The forty largest companies among the sixty most liquid according to 6-month average daily trading volume are chosen as final index components. The index composition is readjusted quarterly.

The three most represented sectors are finance, technology and utilities, which together make up 66% of the total index weight. The five largest single components are Banco Santander, Banco Bilbao Vizcaya Argentaria, Telefonica, Iberdrola and Inditex.

Steffen Scheuble, CEO, Solactive AG, commented: “The Solactive Spain 40 Index joins the portfolio of Solactive-branded benchmarks with regional and country exposure which at the moment cover Canada, Germany, Europe, Scandinavia, Switzerland and the US, among others. Solactive has been very active in the benchmark space since it first entered it two years ago. Following increased customer demand, we have continued expanding our suite of cost-effective broad-based indices.”

The index is denominated in euros and calculated as a gross total return (GTR), price return (PR) and net total return (NTR) index.

The Xtrackers Spanish Equity UCITS ETF has a total expense ratio of 0.30% and assets under management of €269 million.

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