Exchange Traded Funds (ETFs)

Exchange Traded Funds (ETFs)Instruments for passive investment strategies

Unlike actively managed funds, where the fund manager’s investment goal is to outperform a reference index, Exchange Traded Funds (ETFs) pursue a passive investment strategy. They aim to track the performance of an underlying index as precisely as possible. Underlying indices may be national or international stock indices, bond and real-estate indices or commodity and strategy indices. By replicating indices, entire markets can be traded as easily as a share. With just a single exchange transaction the investor thus acquires an entire basket of securities and saves the additional transaction costs that would otherwise accrue for individual investments. In this way, investment strategies can be simply and efficiently implemented.

All the main trading services are available for trading exchange-traded funds on the Xetra® platform. They include: continuous trading from 9 a.m. until 5.30 p.m., the use of different order types and a minimum trade size of one share. Liquidity is provided by Designated Sponsors with their binding bid and ask prices. The price can be verified at any time using the indicative NAV (net asset value), which is calculated continuously.

XTF Exchange Traded Funds is the designation for the trading segment for actively and passively managed ETFs on the Xetra platform. Special conditions for admission to the XTF segment ensure high transparency and quality standards, a factor that has helped enable Deutsche Börse Cash Market and its XTF segment to remain market leader since its launch in April 2000. It has the largest number of ETFs and highest trading volume in Europe.

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