Hedged Italy ETF Changes To Germany

October 27, 2017

Deutsche Asset Management is shaking up a bit its lineup of Xtrackers ETFs this month, assigning new Nasdaq benchmarks, tickers and expense ratios to two international ETFs, and slashing fees on another.

The most notable makeover is on the Xtrackers MSCI Italy Hedged Equity ETF (DBIT), which, effective Oct. 27, became a different strategy focused on another country entirely.

DBIT is now the Xtrackers Germany Equity ETF (GRMY).

The underlying index was changed from the MSCI Italy 25/50 100% Hedged to the Nasdaq Germany Large Mid Cap Index.

Another fund changing benchmarks is the Xtrackers MSCI Southern Europe Hedged Equity ETF (DBSE), which, also effective Oct. 27, became the Xtrackers Eurozone Equity ETF (EURZ), investing in companies based in eurozone countries.

EURZ now tracks the Nasdaq Eurozone Large Mid Cap Index, replacing the strategy’s original index, the MSCI Southern Europe US Dollar Hedged Index.

Major Fee Cuts

Both GRMY and EURZ have also seen their fees cut significantly, from 0.45% to 0.15%, or $15 per $10,000 invested.

Finally, Deutsche also slashed fees on the Xtrackers Japan JPX-Nikkei 400 Equity ETF (JPN) to 0.15%, down from its previous expense ratio of 0.40%.

According to Fiona Bassett, Deutsche’s head of passive asset management, Americas, these changes reflect the firm’s “capabilities” and expertise in the region, allowing it to keep improving “efficiencies and cost savings” to investors.

Deutsche has 54 ETFs on the market today, commanding roughly $14 billion in total assets.

Contact Cinthia Murphy at [email protected]


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