The US-traded UPV ETF provides leveraged exposure to European indices, it’s unhedged to swings in European currencies, while it’s traded in $US providing some mixed tracking for local investors. Fees are 0.95% while gearing is 2x, and dividends are paid quarterly, with its current yield ~1.7%. Tracking is again “ok” with the European benchmark up 4.4% in the last 3 months, while the UPV ETF has gained +7.3%. Overall, a solid ETF when active investors/traders want to move overweight towards Europe, although the FX influence is not ideal.
- We like the UPV ETF for a seasonal rally by European stocks.
MM is bullish on the UPV ETF into Christmas
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