NEW: Sector/Thematic/Broad Market ETPs

As part of the 42 new products listed yesterday, we added a lot of leveraged/inverse ETPs that were widely unavailable on this side of the pond.

Under the column “underlying asset” - you can see the ETF/single stock that the ETP aims to track. Let me know if you have any questions.

:warning: For anyone not familiar with daily compounding and its effects with these types of products, please refer to this Guide.

Berkshire Hathaway ETPs USD GBx EUR Underlying Asset
Berkshire Hathaway Tracker WRRN BERK BRK1 BRK-B
2x Long Berkshire Hathaway BRK2 2BRK 2BRE BRK-B
Broad Market ETPs USD GBx EUR Underlying Asset
5x Long US Tech 100 QQQ5 5QQQ 5QQE QQQ
-3x Short US Tech 100 QQ3S SQQQ SQQE QQQ
5x Long US 500 SP5Y 5SPY 5SPE SPY
-3x Short US 500 SPYS SSPY SSPE SPY
3x Long Total World VT3 3VT 3VTE VT
Single Stock ETPs USD GBx EUR Underlying Asset
3x Long Taiwan Semiconductor TSM3 3TSM TS3E TSM
-3x Short Taiwan Semiconductor TSMS STSM STS3 TSM
3x Long NIO NIO3 3NIO 3NIE NIO
-3x Short NIO SNIO NIOS SNIE NIO
3x Long Moderna MRN3 3MRN 3MRE MRNA
-3x Short Moderna MRNS SMRN SMRE MRNA
3x Long Airbus AIR3 3AIR 3AIE AIR.PA
-3x Short Airbus AIRS SAIR SAIE AIR.PA
3x Long Coinbase CON3 3CON 3CNE COIN
-3x Short Coinbase CO3S S3CO S3CE COIN
Sector/Thematic ETPs USD GBx EUR Underlying Asset
3x Long Semiconductors SMH3 3SMH SM3E SMH
-3x Short Semiconductors SMHS SSMH SSME SMH
3x Long Airlines JET3 3JET 3JEE JETS
-3x Short Airlines JE3S SJET SJEE JETS
3x Long Financials XLF3 3XLF 3XFE XLF
-3x Short Financials XL3S 3SXL SXFE XLF
3x Long China Tech KWE3 3KWE 3KWB KWEB
-3x Short China Tech KWES SKWE SKWB KWEB
3x Long Biotechnology IBB3 3IBB 3IBE IBB
-3x Short Biotechnology IBBS SIBB SIBE IBB
3x Long Clean Energy ICL3 3ICL 3ICE ICLN
-3x Short Clean Energy ICLS SICL ICLN ICLN
3x Long Oil & Gas XLE3 3XLE 3XEE XLE
-3x Short Oil & Gas XLGS SXLG 3SEE XLE
3x Long Gold Miners GDX3 3GDX 3GDE GDX
-3x Short Gold Miners GDMS SGDX SGDE GDX

For professional investors only. Capital at risk.

6 Likes

Nice! If base ccy is $ how does FX affect fees holding $5QQE?

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No effect on the fee - 0.15% on top of fees built into QQQ. They are not FX hedged, so you still have the currency risk when buying outside of base currency (e.g. you buy in EUR or GBP when underlying trades in USD) but save on FX commissions.

@Oktay

Hai Mate,

Can you tell me, I am looking at 3VTE.

Current spread between Buy/Sell is huge.

Buy price:
4.23€

Sell price:
3.86€

Timestamp:
12:05 GMT+1

Is this business as usual or?

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Hey @Vedran - thanks for letting me know. Looking in Bloomberg I also see that it’s quite wide (3.877 - 4.224 currently), let me try to see what’s up. And no - this definitely should not be business as usual…

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Ok not sure what the issue was (algo out of whack I guess), but BNP confirmed it should be improved now. Pls reach out if you witness these kinds of issues, especially if there’s no underlying market narrative that would warrant such spreads…

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Great, already the portfolio value is greener :partying_face:

Thanks for followup :beers:

On topic, what is the chance of adding 7-10y US Treasury and +20y US Treasury 3x ETP?

Trying to build 3x All weather portfolio :partying_face:

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Glad to hear it. :slight_smile: I’d say chances are… good :beers:

Cheers mate.

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Don’t want to be a party pooper.

@Oktay , but it seems today same behavior:

3VTE: Buy 4.17€ Sell 3.52€
3XEE: Buy 7.64€ Sell 6.88€

10:02 GMT+1

Comparing to Wisdomtree 3x products, they have very tight spread 24/7.

2 Likes

Thanks @Vedran. Just had a long chat with them again - they told me the fix should be permanent, so please let me know if you see this issue again on 3VTE. I see 3XEE is at more normal levels now - but I’ll be keeping a closer eye on the full range in the upcoming week. Cheers.

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Question @Oktay

I am holding 3MRE.

What I noticed, each time there is spike upwards for buy price. There is also sharp drop in sell price.

Check price action at 12:54 GMT+1 17.02.2022. Sharp upside from 0.6213 to 6.485, however sell at that time was below 0.59.

In such way, that my investment is green at 0.62 buy price, however during this surge upside, my investment went 5% down.

It often happens that spread increases when the “buy” price is best. Effectively making lost opportunities.

Is this normal behavior in leveraged assets?

2 Likes

Current 3mre:

Buy price 0.6655E

Sell price: 0.5977

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Sorry for the late replies @Vedran (travelling all week). Let me check and get back to you.

I did notice that close to UK market close there has been some widening of spreads on a few products which should not be happening (unless there’s some spike in vol on underlying).

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:coffin: :pray:

3ROE is going to be bloodbath at open.

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3ROE spread 20% :slight_smile:

Buy: 0.0396
Sell: 0.0309

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Holding a 3x leveraged hype/growth stock these days is like playing with fire…

Yeah I expect pretty horrible spreads on 3x Roku today to be honest (especially before US open). The thing with overseas growth stocks that barely trade in Europe (in GDR form) is that market makers have trouble with price discovery - especially on volatile days like this. Hopefully will improve after US open, but I’ll be monitoring it throughout the day. Thanks @Vedran!

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3ROE seems to be stuck frozen it seems :slight_smile:

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Intraday rebalance - let me check when it’ll be quoting again. :slight_smile:

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UPDATE: The Management Fee on our inverse Tesla ETPs has been reduced to 0.00%.

Affected ETPs are below:

Name USD GBx EUR
-1x Short Tesla TSLS STSL STSE
-2x Short Tesla TS2S 2STS 2STE
-3x Short Tesla TS3S TSLQ 3STL

More info here:

4 Likes

Any idea why the 3x Nio can be so far off whats happening with the Nio price?
Nio at $23+ right now a 6 week + high, yet 3x is nowhere near the 13p+ it was when Nio was at $23 in early March?

1 Like