The WisdomTree EURO STOXX Banks 3x Daily Short ETP listed on the London Stock Exchange and other European stock markets yesterday (14 August).
WisdomTree said the ETP aimed to complement the existing WisdomTree EURO STOXX Banks 3x Daily Leveraged ETP, which launched on the LSE in March 2017.
Pierre Debru, head of quantitative research and multi asset solutions, Europe at WisdomTree, said: “In the current economic landscape, investors need an extensive range of tools to navigate financial markets, whether that is to magnify daily returns, hedge positions or to deploy more sophisticated strategies.
“Tactical exposures through short and leveraged ETPs can play a complementary role to long-term strategic holdings, allowing investors to express high conviction views and take advantage of market dislocations quickly and efficiently.”
The new fund has a management expense ratio of 0.89%.
The firm also launched two French stock market ETPs yesterday, leveraging and shorting the CAC 40, though these are not available in the UK.
