ETFX-BofAML IVSTOXX ETF *

Please note: Bank of America Merrill Lynch (BofAML) is the sole swap provider and authorised participant for ETFX - BofAML IVSTOXX ETF.

Investment objective

The investment objective of this Fund is to provide an exposure to the implied volatility of the EURO STOXX 50® Index.

Investment Considerations

This is not a conventional investment. Volatility is a sophisticated and potentially costly portfolio tool.
The EURO STOXX 50® Investable Volatility Index is highly volatile.
The performance of the EURO STOXX 50® Investable Volatility Index is not the same as the performance of the EURO STOXX 50® Index or any other index.
The ETFX - BofAML IVSTOXX ETF is not intended as a stand-alone long-term investment.

About the Index

The EURO STOXX 50® Investable Volatility Index is a volatility index which provides exposure to the forward implied volatility of the EURO STOXX 50® Index in a form which can be directly replicated. Implied volatility is derived from option prices. This kind of volatility represents the estimates and assumptions of market participants involved in a trade, on the basis of a given option price. The EURO STOXX 50® Investable Volatility Index is designed as a rolling index which targets a constant 3-month (90 days) forward, 3-month maturity volatility exposure. The EURO STOXX 50® Investable Volatility Index is calculated entirely using VSTOXX subindex levels calculated and published by STOXX. Apart from the main EURO STOXX 50® Volatility Index (VSTOXX), subindices for each time to expiry of the EURO STOXX 50 options, ranging from one month to two years, are calculated and distributed. The various VSTOXX subindices are calculated on the basis of all options available. The calculations are based on the best bid and best ask available for these options in the Eurex system.

The EURO STOXX 50® Index, Europe's leading Blue-chip index for the Eurozone, provides a Blue-chip representation of supersector leaders in the Eurozone. The index covers 50 stocks from 12 Eurozone countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. The EURO STOXX 50® Index is licensed to financial institutions to serve as underlying for a wide range of investment products such as Exchange Traded Funds (ETF), Futures and Options, and structured products worldwide

Further information on the EURO STOXX 50® Investable Volatility Index can be found on the STOXX website at www.stoxx.com.

About ETF Exchange (ETFX)

ETF Exchange is the world’s first 3rd Generation ETF Platform offering investor’s access to low cost swap backed ETFs with credit diversification across a number of participants rather than reliance on a single bank. As the banks, APs and market makers compete for business, true liquidity and competition is created.

ETF Securities is working with: Bank of America Merrill Lynch, Barclays Capital, Citi, and Rabobank International who are participants on the platform, acting as distribution partners, authorised participants and swap providers.
Please note: Bank of America Merrill Lynch (BofAML) is the sole swap provider and authorised participant for ETFX - BofAML IVSTOXX ETF.

To find out more about Third Generation ETFs click here.
To find out more about ETFX Partners click here.

Daily security data

Key facts

Inception date	February '11
Management fee	0.80%
Currency	EUR
Minimum investment	One security
Legal Form	Public Limited Company
Taxes	No stamp duty
Index	EURO STOXX 50® Investable Volatility Index

Trading information

Exchange	London Stock Exchange
Exchange code	VSTX
Bloomberg code	VSTX LN
Reuters code	VSTX.L
SEDOL	B3XYY52
ISIN	IE00B3T1VR88