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STOXX ESG Factor Indices licensed to UniCredit

Release date: 30 Jul 2019 | STOXX

STOXX ESG Factor Indices licensed to UniCredit


Zug (July 30, 2019) – STOXX Ltd., the operator of Deutsche Boerse Group’s index business and a global provider of innovative and tradable index concepts, has licensed two indices to UniCredit: the EURO iSTOXX® ESG-X & Ex Nuclear Power Multi Factor Index and the EURO STOXX® ESG-X & Ex Nuclear Power Minimum Variance Unconstrained Index. 

UniCredit is launching two exchange-traded funds (ETFs) on these indices today, which are listed in Frankfurt. The underlying indices are part of the Eurozone’s first index family combining a factor strategy with environmental, social and governance (ESG) screens.

Vincenzo Spadaro, Global Head of Institutional Equity Derivatives, UniCredit, said: “In order to meet ESG investment criteria, asset owners need to look for solutions beyond the traditional market-cap-weighted index. With the launch of these ETFs, we are proving once again that we can respond flexibly to market developments and the demands of our clients.”

“We are delighted that UniCredit is launching ETFs on our indices that combine ESG and factor strategies,” said Willem Keogh, STOXX’s Head of ESG, Thematic and Factor Solutions. “The indices enable investors to follow a multi-factor or minimum-variance strategy for the Eurozone while meeting standard ESG policies.”

Both indices are constructed on the EURO STOXX® Index and apply standardized ESG exclusion screens. This includes product involvement screening for controversial weapons, tobacco, thermal coal and nuclear power as well as a norm-based screening that follows the United Nations Global Compact principles of human and labor rights, the environment, business ethics and anti-corruption. 

The EURO iSTOXX ESG-X & Ex Nuclear Power Multi Factor Index follows a multi-factor optimization process, seeking to diversify across the factors of profitability, earnings yield, leverage, value and low volatility. The EURO STOXX® ESG-X & Ex Nuclear Power Minimum Variance Unconstrained Index weights constituents according to a minimum-variance optimization.

The ESG filters are provided by Sustainalytics, while Axioma has developed the factor exposure analysis and optimization processes.

About STOXX Limited

STOXX Ltd. is a global index provider, currently calculating a global, comprehensive index family of over 7,500 strictly rules-based and transparent indices. Best known for the leading European equity indices EURO STOXX 50, STOXX Europe 50 and STOXX Europe 600, STOXX Ltd. maintains and calculates the STOXX Global index family which consists of total market, broad and blue-chip indices for the regions Americas, Europe, Asia/Pacific and sub-regions Latin America and BRIC (Brazil, Russia, India and China) as well as global markets.

To provide market participants with optimal transparency, STOXX indices are classified into four categories. Regular “STOXX” indices include all standard, theme and strategy indices that are part of STOXX’s integrated index family and follow a strict rules-based methodology. The “iSTOXX” brand typically comprises less standardized index concepts that are not integrated in the STOXX Global index family, but are nevertheless strictly rules-based. While indices that are branded “STOXX” and “iSTOXX” are developed by STOXX for a broad range of market participants, the “STOXX Customized” brand covers indices that are specifically developed for clients and do not carry the STOXX brand in the index name. Under the Omnient brand, STOXX offers custom indices from its existing index universe.

STOXX indices are licensed to more than 600 companies around the world as underlyings for Exchange Traded Funds (ETFs), futures and options, structured products and passively managed investment funds. Three of the top ETFs in Europe and approximately 25% of all assets under management are based on STOXX indices. STOXX Ltd. holds Europe's number one and the world's number two position in the derivatives segment.

STOXX is part of Deutsche Boerse Group, and also calculates, disseminates and markets the DAX indices.

STOXX, Deutsche Boerse Group and their licensors, research partners or data providers do not make any warranties or representations, express or implied, with respect to the timeliness, sequence, accuracy, completeness, currentness, merchantability, quality or fitness for any particular purpose of its index data and exclude any liability in connection therewith. STOXX, Deutsche Boerse Group and their licensors, research partners or data providers are not providing investment advice through the publication of indices or in connection therewith. In particular, the inclusion of a company in an index, its weighting, or the exclusion of a company from an index, does not in any way reflect an opinion of STOXX, Deutsche Boerse Group or their licensors, research partners or data providers on the merits of that company. Financial instruments based on the STOXX® indices, DAX® indices or on any other indices supported by STOXX are in no way sponsored, endorsed, sold or promoted by STOXX, Deutsche Boerse Group or their licensors, research partners or data providers.

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