It was actually me who requested a few weeks ago to have it listed on DEGIRO for SIX/EBS in CHF. First they made the mistake of listing it in USD then I had to ask them again to list it in CHF which happened last week but then there are no numbers at all so I contacted their support again last week. No answers yet…
I just stumbled over this ”light ESG” label from the Amundi prospectus regarding WEBG/WEBN:
“The Investment Manager integrates consideration of certain sustainability risks referred to in the section of this Prospectus entitled “Risk Factors - Sustainable Investment Risk” by excluding the securities of companies involved in the production or sale of controversial weapons as defined in “Replication Methods for Passively Managed Sub-Funds”. The Sub-Fund takes into account principal adverse impacts of investments on sustainability factors in its investment process as outlined in more detail in section “Sustainable Investing” of this prospectus."
E.g. Lockhead is not part of the ETF’s holdings but of the index.
What is your take on this?
Would be a no-go criteria for me. A market cap weighted index product should do exactly what it’s said out to do and not do some arbitrary ESG filtering.
It is a good reason to avoid Amundi’s products. If they indeed have a deeply hidden ESG screen and still call the fund an index fund, that is not something that increases trust, to put it mildly.
There are plenty of alternatives a few bps more expensive, but with a much better tracking difference. The implementation quality of a fund is worth a few bps.
Does this mean we - the common people - should buy AVWS from XETRA for example instead of AVSV from SIX?
ICTAX does not list any of them. ![]()
Is there any upside to AVSV in your opinion (since it’s not traded in CHF either) compared to the more liquid AVWS?
Maybe your broker’s fees for a particular exchange make a difference.
My experience with same ETF, same isin, different ticker symbols because of different trading currencies and/or trading places, is never a problem of liquidity, because they are the same fund, same shares, and there are market makers. The reported spread should be ok and bid/ask reported real time even with no transaction on this specific one, but in relation with the global trades.
The thing is, if there is little to no volume on the ticker you want to buy (but a lot at other places), the last price is not updated accordingly. You need a broker that is displaying real time bid/ask prices and my experience with IBKR and the very same European ETF traded on SIX (USD and CHF) among other (EUR, GBP, USD at other places), it is not, and it may even warn you about the difference you set in your order (based on “real” bid/ask price) and what it thinks is good based on last traded price on this specific ticker).
When someone is buying AVSV @SIX, aren’t they trading with someone @SIX also?
Same with buying AVWS @Xetra?
So if there is more trading going on at Xetra, shouldn‘t the bid-ask difference generally be smaller?
Yes. Where is more supply/demand, the spread should be lower. The question is whether that really matters, because there should never be a completely catastrophic spread, as market makers and those who do arbitrage should be present. At least, that’s my understanding.
Generally yes.
But you could also have a special deal with a market maker for tight spreads, as a fund provider.
Have you declared AVWS or AVSV transactions in ICTAX? Non of the two seem to be listed.
Response from ESTV to inquiry about AVSV:
It sounds like they will calculate and publish the tax values only if someone submits the annual report of the fund to them, which will probably be available in April or May 2026 for the year 2025. Not sure whether local tax authorities would do that based on tax declarations if nobody else submits the annual report.