BlackRock has rolled out a new US dollar-hedged exchange-traded fund (ETF) that invests in the equities of large and mid-sized European companies.
The iShares MSCI EMU USD Hedged Ucits ETF will track an index comprising around 240 stocks from 10 developed countries that are within the European Economic and Monetary Union.
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With a total expense ratio of 0.38%, the new UCITS-compliant ETF is physically replicating, which means it can purchase and hold the underlying stocks in the index.
The European equities fund will expand iShares’ currency hedged range in Europe to 14 products.
BlackRock head of product for iShares in EMEA Tom Fekete said: "Europe has experienced a cyclical rebound from 2014 and equity valuations are attractive relative to those in the US. At the start of 2015, corporate earnings revisions in Europe turned positive for the first time since 2010.
"One of the benefits of a currency-hedged ETF is that investors don’t have to maintain an independent hedge and can separate and control their currency risk."
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By GlobalData
