Tabula Global High Yield Fallen Angels Paris-aligned Climate UCITS ETF (USD) - GBP-Hedged Dist.

A propos de l'indice

The I37640 Index ("the Index") aims to provide liquid and diversified exposure to Paris-aligned HY bonds which have been downgraded from investment grade, with a focus on both climate and broader ESG. It also employs a time-based tilt to overweight issuers in the first year of being downgraded and to underweight issuers two years after being downgraded. To meet the criteria for an EU Paris-aligned benchmark, it targets 50% lower GHG emissions than the global high yield fallen angel market (as represented by the Bloomberg MSCI Global Corporate Fallen Angels Paris-Aligned Index, "the Parent Index") and reduces its GHG emissions by 7% per annum.

To enhance ESG characteristics, it also excludes issuers in violation of social norms (e.g. the UN Global Compact), involved with controversial weapons, fossil fuels (revenue thresholds) or tobacco or causing significant environmental harm. To enhance ESG characteristics, the index applies additional MSCI ESG screens (controversies, governance or environmental controversies) and is optimised to have higher green revenue than the Parent Index.

The Index applies a strict liquidity filter and aims to keep sector exposures close to its parent index.

Processus d'investissement

The ETF invests in a portfolio of corporate bonds that reflects the composition of the index as far as practicable and meets the EU criteria for Paris-aligned Benchmarks.