Amundi Ibex 35 ETF Dist LYXIB

Lxyor Ibex 35—now part of Amundi's exchange-traded fund lineup—fails to provide a good enough representation of the Spanish equity market. The index has a large- and mega-cap bias, is rather top-heavy from a portfolio construction perspective, and has historically overweighted financials relative to the Spain equity Morningstar Category. This is a market where active managers can add value by moving down the market-cap spectrum, particularly tapping into the small-cap segment that this index largely ignores.