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Solutions

Industry Neutral Factor Indices

For investors looking to accurately access pure factor returns, without unintended sector exposures.

The STOXX® Industry Neutral Ax Factor Indices implement the same methodology of the STOXX® Factor Indices while reducing the active industry constraint from +/- 5% to near neutral.

The STOXX Factor Indices and STOXX Industry Neutral Ax Factor Indices rely on proven factor models and seek precise exposure to desired equity risk premia. They are built using widely accepted and institutionally tested factor definitions and advanced portfolio-construction tools and risk models.

STOXX Industry Neutral Ax Factor Indices covering the European and US markets underlie futures on Eurex. This offers investors the trading and hedging benefits of listed derivatives targeting a consistent methodology and factor definitions across regions. 

FACTORS

  • Value
  • Quality
  • Momentum
  • Low Risk
  • Size
  • Multi-Factor

UNIVERSES

  • Europe 600
  • USA 500

Key Indices

STOXX® Europe 600 Industry Neutral Ax Value

STOXX® Europe 600 Industry Neutral Ax Size

STOXX® Europe 600 Industry Neutral Ax Quality

STOXX® Europe 600 Industry Neutral Ax Multi-Factor

STOXX® Europe 600 Industry Neutral Ax Momentum

STOXX® Europe 600 Industry Neutral Ax Low Risk

STOXX® USA 500 Industry Neutral Ax Value

STOXX® USA 500 Industry Neutral Ax Size

STOXX® USA 500 Industry Neutral Ax Quality

STOXX® USA 500 Industry Neutral Ax Multi-Factor

STOXX® USA 500 Industry Neutral Ax Momentum

STOXX® USA 500 Industry Neutral Ax Low Risk

Key benefits

Pure factor investing

Target high exposures to proven sources of excess returns, based on robust definitions, clear economic rationale, and supported by extensive research.

State-of-the-art inception

Transparent, rules based STOXX indices and expertise with factor models, optimization and portfolio analytics.

Invest with precision

Maximize the allocation to the desired factor while constraining the exposure to non-targeted factors, other attributes and unintended sources of risk.

Manage liquidity

Aim for higher capacity and reduced trading costs by managing turnover and investability, and avoiding potentially problematic illiquid positions.

Easily tradable

Access your factor strategy through Eurex-listed futures tracking the indices.

Diversify risk

Get stock diversification and avoid single sources of risk with the Multi-Factor strategy.