ETF Explainer: GRE

Each issue, we look at an ETF with a particularly interesting chart and explain the market forces behind its performance. This time, we look at the Lyxor UCITS ETF FTSE Athex Large Cap (GRE), an exchange traded fund which has around £152 million in assets under management, and which has plummeted over the past 12 months as economic and political tensions mount between Greece and the eurozone.

JUL 28 The ETF hits its year peak of 1.8850 points as markets grind higher over the summer.

OCT 16 GRE sinks to 1.3500 points as the VIX index spikes and tremors are felt across all markets after a summer lull.

JAN 26 The ETF plunges overnight as the Greeks vote for Alexis Tsipras in a snap election, bringing an anti-austerity party to power. Grexit fears mount.

FEB 20 Markets sigh with relief as Greece's bailout deal is extended to June. There are still concerns for its future within the eurozone.

JUN 26 GRE has fallen 36.5% over 12 months. Lyxor announces it has halted trading on the ETF as Greece shuts its banks and stock exchange.

JUL 05 The Greeks voted "no" in a referendum, refusing to accept the conditions imposed by its creditors. The EU continues with its austerity bailout package. GRE is still not trading