New Listing

DWS launches S&P 500 equal-weight ESG ETF

TER of 0.17%

Theo Andrew


DWS has expanded its product range with the launch of an equal-weight S&P 500 ESG ETF.

The Xtrackers S&P 500 Equal Weight ESG UCITS ETF (XZEW) is listed on the Deutsche Boerse and the London Stock Exchange with a total expense ratio (TER) of 0.17%.

XZEW tracks the S&P 500 Equal Weight ESG index which aims to reflect the equally-weighted performance of major US companies across all major industries.

The index will then exclude companies based on their involvement in specific business activities including controversial weapons, military contracting, oil sands, small arms, thermal coal and tobacco.

Stocks that do not have a qualifying United Nations’ Global Compact score, ESG performance based on Sustainalytics’ Global Standard Screening assessment.

DWS follows BlackRock and Amundi who have both launched S&P 500 equal weight ESG ETFs in the past six months.

In August, BlackRock launched the iShares S&P 500 ESG UCITS ETF (ESPX) and the iShares S&P 500 Equal Weight UCITS ETF (EWSP).

A month earlier, Amundi launched the Amundi S&P 500 Equal Weight ESG Leaders UCITS ETF (WELE), one basis point more expensive than XZEW.

Last month, the French asset manager also launched the Amundi US Tech 100 Equal Weight UCITS ETF (WEBB).

DWS announced ambitious targets to overtake Amundi as the second largest ETF issuer in Europe last week, targeting asset under management growth of 12% per annum until 2025.

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