News

ETFs, Investments

New hedged tech ETF hits market

Global X ETF Exchange-traded fund Global X FANG+ (currency-hedged) ETF

Global X has broadened its range of currency-hedged ETFs by introducing a fund aimed at providing exposure to some of the largest technology companies in the United States.

Global X has launched a currency-hedged version of one of its most popular exchange-traded funds (ETF) onto the Australian Securities Exchange (ASX), providing investors with exposure to technology companies based in the United States, while reducing exchange rate risk.

The Global X FANG+ (currency-hedged) ETF, carrying the ASX code FHNG, will track the NYSE FANG+ Index, which in turn tracks 10 highly traded growth stocks from the technology, media, communications and consumer discretionary sectors.

Top holdings in the fund include technology giants Google, Meta, Microsoft and Nvidia, streaming platform Netflix, online e-commerce company Amazon and electric vehicle manufacturer and clean energy company Tesla.

FHNG is a currency-hedged version of Global X’s existing FANG+ ETF and charges a management fee of 38 basis points annually.

Global X chief executive Evan Metcalf said FHNG could be used as part of a growth-oriented portfolio and offers protection against adverse currency movements, creating more stable and predictable returns.

“The Australian dollar has softened considerably over the past two years and given this fluctuation, our clients are seeking to include A$-hedged products in their portfolios. Given FANG is entirely exposed to the US$, FHNG presents a strategic way to achieve this minimised currency risk while still offering a high-growth opportunity,” Metcalf explained.

“With innovations such as cloud computing and artificial intelligence just beginning to scratch the surface, we are committed to offering investors solutions that engage with these transformative and long-term structural trends.”

With the launch of FHNG, Global X now offers 39 ETFs to Australian investors and announced it will introduce a currency-hedged version of its physical gold ETF later this quarter.

''

Our Story

selfmanagedsuper is the definitive publication covering Australia’s SMSF sector. It uniquely offers online content tailored separately for SMSF professionals and individual trustees participating in the fastest growing and largest sector of the superannuation industry. As such, it is a must read for those wanting to stay informed about the latest news, regulatory developments, technical strategies, investments, compliance, legal and administration issues concerning SMSFs.

Copyright © SMS Trustee News 2024

ABN 80 159 769 034

Benchmark Media

WordPress website development by DMC Web.