ETF provider VanEck Vectors has expanded its presence in Europe with the cross listing of four ETFs on the Borsa Italiana.
VanEck currently has over 70 ETPs spanning a range of asset classes and geographies.
The four ETFs now available to trade on the Italian stock exchange are: the VanEck Vectors JP Morgan EM Local Currency Bond UCITS ETF (EMLC), the VanEck Vectors Gold Miners UCITS ETF (GDX), the VanEck Vectors Junior Gold Miners UCITS ETF (GDXJ) and the VanEck Vectors Morningstar US Wide Moat UCITS ETF (MOAT).
VanEck Vectors is the ETF business of VanEck, a US-based asset manager with $34 billion in assets under management. Globally, the firm manages more than 70 exchange-traded products that span a range of sectors, asset classes, and geographies.
Philipp Schlegel, international business development at VanEck, said: “Within recent years, Borsa Italiana has recorded a significant rise in average daily ETF trades on the Italian stock exchange. By listing our ETFs on Borsa Italiana, we are responding to investor demand for access to local trading.”
Silvia Bosoni, head of ETFs listing at Borsa Italiana, added: “We are pleased to welcome VanEck to the Italian Stock Exchange…The steady growth of ETF trading volume and assets under management shows that local listings are important to Italian investors and will continue to be in the future.”
EMLC gives investors local-currency exposure to emerging market debt, which tends to provide higher yields than developed markets with the potential for currency appreciation. Local currency emerging market bonds tend to have a lower correlation to the US dollar and help to diversify a portfolio. The fund has $17 million in assets under management (AUM) and a total expense ratio (TER) of 0.44%.
GDX and GDXJ provide exposure to global mining equity. GDX includes large, mid and small-sized global gold mining companies. GDXJ invests in micro, small and mid-sized mining companies that are in an exploratory or early mining phase. GDX has AUM of $112m and a TER of 0.53%, while GDXJ has AUM of $63m and a TER of 0.55%.
MOAT gives investors exposure to US companies with a significant and sustainable competitive advantage over their peers, as judged by analysts at Morningstar. MOAT includes the cheapest stocks that are given a wide moat rating. The fund has AUM of $17m and a TER of 0.49%.