World X ETFs have introduced the launch of its World X FANG+ (Foreign money Hedged) ETF (ASX: FHNG), providing Australian traders publicity to firms at the vanguard of next-generation know-how with minimised trade price danger.
FHNG is the forex hedged model of the corporate’s hottest progress oriented fund, the World X FANG+ ETF (ASX: FANG), which was launched in 2020 and holds greater than $645 million in web belongings.
The brand new hedged technique gives publicity to 10 firms driving know-how innovation throughout a number of segments, together with each family names and newcomers, forex hedged to the AUD. The fund goals to offer traders with a return that (earlier than charges and bills) tracks the efficiency of the NYSE® FANG+™ Index (AUD Hedged), with a aggressive administration charge of 0.38% p.a. It consists of the ‘Magnificent 7’ shares – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla – which have outperformed the broader S&P 500 over the past three years.
World X ETFS Australia CEO Evan Metcalf mentioned FHNG is a horny possibility as a core constructing block for growth-oriented portfolios, providing an unconstrained strategy that comes with essentially the most innovating next-generation know-how firms throughout quite a lot of segments and sectors.
“The Australian greenback has softened significantly over the previous two years, and given this fluctuation, our purchasers are looking for to incorporate AUD-hedged merchandise of their portfolios. Given FANG is totally uncovered to the USD, FHNG presents a strategic approach to obtain this minimised forex danger, whereas nonetheless providing a excessive progress alternative,” Metcalf mentioned.
“World X stays on the forefront of capitalising on the numerous potential of rising macrotrends pushed by technological developments. With improvements corresponding to cloud computing and synthetic intelligence having solely simply scratched the floor, we’re dedicated to providing traders options that have interaction with these transformative and long-term structural developments.”
World X additionally plans to launch a forex hedged bodily gold ETF later this quarter. World X is the trade chief in gold ETFs, having launched GOLD in 2003 because the world’s first bodily backed gold trade traded product, and it stays the biggest and most liquid of its sort in Australia. Earlier this yr the corporate launched its World X Gold Bullion ETF (ASX: GXLD), providing traders a lower-cost various to GOLD, designed for longer-term investments.
FHNG is the thirty ninth product to be added to World X’s suite of ETFs in Australia.
