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Stocks and Shares ISAObjective
The ETFS DAX® Daily 2x Short GO UCITS ETF (the "Fund") is designed to track the performance of the ShortDAX® x2 Index (the "Tracked Index"). The Tracked Index is a strategic index that is designed to provide twice the inverse of the daily percentage change in the level of the DAX® Index (the "Underlying Index") plus an implied amount reflecting the interest accruing on the cash proceeds earned from the sale of the index portfolio (the “Interest Rate”) less the cost of borrowing the index portfolio for the leveraged short exposure (the “Borrowing Cost”). This magnified inverse exposure is known as a 'short and leveraged' exposure. For example, if the Underlying Index was to decrease in value by 5% on a particular day, the Tracked Index is designed to increase in value by 10% on that day, subject to the adjustments for the Interest Rate and Borrowing Cost. The Fund is designed to reflect the performance of the Tracked Index, minus fees and expenses. The Fund is an exchange traded fund ("ETF"). Shares in the ETF can be created and redeemed on demand by authorised participants and are traded on exchange. The ETF is authorised and regulated as a UCITS and is eligible for investment by other UCITS. The ETF is backed by unfunded swaps. The ETF gains exposure to the Index via a swap and counterparty exposure is mitigated by a combination of cash and eligible securities. The Bank of New York Mellon manages the securities posted as collateral. Details of the collateral held can be found in the Collateral section of the ETF Securities website (www.etfsecurities.com).
- Leverage-200
- Currency hedgingNo