Investing with ETFs: Sweden

Sweden is the most developed and active market the region with 22 listed ETFs offering exposure to the Nordic markets

Hortense Bioy, CFA 30.11.2010 | 11:33

Those interested in the well-funded, export-driven Swedish economy could look at XACT OMXS30, which holds the 30 largest equities on the Stockholm stock exchange. It is a well-diversified fund with half of its weighting in the industrial and financial sectors. The top 10 holdings comprise 66% of the portfolio, which includes major names such as H&M  (13.7%), Nordea Bank (10.3%), Ericsson (8%) and Volvo (5.2%). XACT OMXS30 is the largest ETF within the Nordic region with some EUR 700 million of assets under management. It is also the most actively-traded non-leveraged fund on the Stockholm stock exchange.

Those seeking similar exposure could look at its smaller and less liquid sister fund XACT OMXSB, which currently tracks the performance of the 89 largest shares in Sweden. This ETF is slightly less top heavy than the aforementioned XACT OMXS30, with the top 10 holdings comprising 50.8% of the portfolio, but it offers very similar return and risk characteristics.

For active traders who have a very high risk tolerance, XACT offers leveraged and inverse ETFs listed in Stockholm. Despite their risks, these funds have proved very popular among local retail investors, as evidenced by the high number of relatively small daily trades.

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Om forfatteren

Hortense Bioy, CFA

Hortense Bioy, CFA  is director of passive fund research in Europe.

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