SPA ETF plc gets into italian ETF market

Borsa Italiana welcomes the first six ETFs issued by  SPA ETF. The ETFs will be listed on the Open-end Index Funds - class 2 segment of ETFplus market. The investment target of the ETFs is to mirror the performance of  following indices:

MarketGrader 40, MarketGrader 100, MarketGrader 200, MarketGrader Large Cap, MarketGrader Mid Cap e MarketGrader Small Cap

The Market Grade indices are a unique rules-based, quantitatively driven indices, which select American stocks on company's fundamental attractiveness.
Market Grader system scores each company according to a number of company specific fundamental factors such as Growth, Value, profitability and Cash Flow. Each of these categories, in turn, is composed of six unique indicators, giving a total of 24 fundamental indicators.

·      MarketGrader 40: the index is composed by 40 stocks selected, using the above mentioned methodology, from equities listed on US exchanges. All companies must have a market capitalisation of at least 100 USD million. At least ten companies must have a market capitalisation above 10 USD billion (large cap). No more than ten companies can have a market capitalisation below 1 USD bilion (small cap). The index is rebalanced quarterly.

·      MarketGrader 100: the index is composed by 100 stocks selected, using the above mentioned methodology, from equities listed on US exchanges. All companies must have a market capitalisation of at least 100 USD million. At least 25 companies must have a market capitalisation above 10 USD bilion (large cap). No more than 25 companies can have a market capitalisation below 1 USD billion (small cap). The index is rebalanced twice a year.

·      MarketGrader 200: the index is composed by 200 stocks selected, using the above mentioned methodology, from equities listed on US exchanges. All companies must have a market capitalisation of at least 250 USD million. At least 25% of companies must have a market capitalisation above 3 USD billion.  The index is rebalanced twice a year.

·      MarketGrader Small Cap: the index is composed by 100 stocks selected, using the above mentioned methodology, from equities listed on US exchanges. All companies must have a market capitalisation between 250 USD million and 2 USD billion.  The index is rebalanced twice a year.

·      MarketGrader Mid Cap: the index is composed by 100 stocks selected, using the above mentioned methodology, from equities listed on US exchanges. All companies must have a market capitalisation between 1 USD billion and 10 USD billion.  The index is rebalanced twice a year.

·      MarketGrader Large Cap: the index is composed by 100 stocks selected, using the above mentioned methodology, from equities listed on US exchanges. All companies must have a market capitalisation above 4 USD billion.  The index is rebalanced twice a year.

The update composition of the relevant indices can be found on the AMEX website.

The total expense ratio of the ETFs is equal to 0,85%.

Please download the relevant public notice:
VISUALIZZA PDF