Exchange-traded fund (ETF) provider Source has launched an ETF that targets value shares.
The MSCI Europe Value Source ETF is designed to provide value-focused exposure to the European equity market via the MSCI Europe Value EUR Total Return (Net) Index.
The index is a subset of the MSCI Europe that is focused on stocks that exhibit value as opposed to growth characteristics.
It currently comprises 214 stocks, or around 50% of the free float-adjusted market capitalisation of the MSCI Europe.
The factors used to assess a stock’s value include book value, 12-month forward earnings and dividend yield.
The Source ETF has a management fee of 0.35% per annum and is listed on Deutsche Börse.
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