FRANKFURT, Germany--(BUSINESS WIRE)--Today, MV Index Solutions GmbH (MVIS®) announced the licensing of the BlueStar Top-10 US Banks Index (ticker: BUBNKNTR) to Migdal Mutual Funds, a leading Israeli issuer of ETFs and index mutual funds.
The BlueStar Top-10 US Banks Index (ticker: BUBNKNTR) covers the 10 largest US banks, with a buffer at the lower end to reduce turnover. The index considers US companies that derive at least 50% of annual revenue from a combination of commercial banking, investment banking, and brokerage services. The index follows a modified market cap weighting methodology and is reviewed and rebalanced semi-annually in June and December.
“We are pleased to announce the licensing of the BlueStar Top-10 US Banks Index to Migdal Mutual Funds. The index provides concentrated exposure to the largest names in the US Banking sector which, given the impact of the Coronavirus, currently offers a dividend yield that is higher than at any point in the last decade. Further, price multiples are currently at suppressed levels even as return on equity is at a 10-year high. While technology-related industries have led the market higher from 2020’s lows, value-oriented sectors such as US banks may gain interest as the US begins its economic recovery”,said Joshua Kaplan, Global Head of Research at MV Index Solutions.
The BlueStar Top-10 US Banks Index is calculated in US Dollars as net total return indices. Detailed information about each index is available on MV Index Solutions website.
Key Index Features
BlueStar Top-10 US Banks Index (ticker: BUBNKNTR)
Number of Components: 11
Base Date: 06/30/2015
Base Value: 100
Note to Editors:
About MV Index Solutions - www.mvis-indices.com
MV Index Solutions (MVIS®) develops, monitors and licenses the MVIS Indices, a selection of focused, investable and diversified benchmark indices. The indices are especially designed to underlie financial products. MVIS Indices cover several asset classes, including equity, fixed income markets and digital assets and are licensed to serve as underlying indices for financial products. Approximately USD 17.40 billion in assets under management (as of 23 September 2020) are currently invested in financial products based on MVIS Indices. MVIS is a VanEck company.