FLGECredit Suisse FI Large Cap Growth Enhanced ETN
FLGE Fund Description
FLGE provides 2X levered exposure to the total return of the Russell 1000 Growth Index, with leverage reset at least quarterly.
FLGE Factset Analytics Insight
FLGE provides 2x leveraged exposure to an index of US large-cap growth stocks. Unlike most geared products, the note resets its leverage quarterly, or in the event of a 20% decline in the underlying index since the last reset date. There is a 5 bp fee at each reset. This strategy mutes the effects of compounding and path dependency that plague other leveraged funds, but it means that investors in the fund won't receive exactly 2x leverage until the next reset. FLGE doesn't see a lot of trading activity, with low daily volume and sizeable spreads. However, it has attracted impressive AUM in spite of a high fee. Note that FLGE is a "bespoke" product, created for Fisher Asset Management and its clients. The notes are unadvertised—lacking even a website—because they aren't intended for individual investors. Also consider FBGX, a similar series of notes tracking the same index.
FLGE CHARTS AND PERFORMANCE
FLGE Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of FLGE. FLGE is rated a N/A out of 5.