Expat Czech PX UCITS ETF

[[document:21130:Portfolio Structure & Basket of Securities as of 15 Sept 2021:https://expat.bg/admin/fund/9/https]]Risk profile: High-risk

Investment focus: Shares of the PX Index on the Prague Stock Exchange

Minimum investment: None

Portfolio Structure & Basket of Securities as of 15 Sept 2021Expat Czech PX UCITS ETF is an exchange-traded fund which tracks the performance of the PX Index, using the direct physical replication method. It is listed on the Bulgarian Stock Exchange and on the Frankfurt Stock Exchange (XETRA). The fund is suitable for Bulgarian and foreign investors who want a liquid and diversified exposure to the Czech market and the region as a whole.

Market Ticker Ticker at Bloomberg Ticker at Reuters ISIN

The indicative net asset value of the ETF (iNAV) can be found here (ISIN iNAV DE000A2J0QE1).

Exchange Traded Funds (ETF, Exchange-Traded Funds) invest in shares of companies in a particular index or sector, or in commodities, etc. Expat Czech PX UCITS ETF invests in the shares of the companies included in the PX Index. This is the main equity index of the Prague Stock Exchange and consists of 13 companies. The ETF invests in all PX companies in proportions closely matching those of the index and within the legal limitations. The return of the fund follows that of the index – i.e. if the Czech market goes up, the market value of the ETF shares would increase proportionally.

The ETF is an open-ended passively managed collective investment scheme. The fund does not pay dividend. The profit is reinvested, and this increases the net asset value of the fund to the benefit of investors.

Eligible investors can buy and sell their ETF shares directly from and to the ETF in the primary market, while all investors can trade the ETF's shares on the stock exchange (the secondary market). Expat Czech PX UCITS ETF was licensed by the Financial Supervision Commission on Dec 1, 2017. It is organized in full compliance with the EU UCITS directive.


  • An easy and transparent way for investing in the Czech stock market. Investors buy all the companies from the PX Index. The portfolio of the index ETF is published and updated daily on the Expat’s website.
  • Diversification. Investors gain exposure to the largest and most liquid stocks on the Prague Stock Exchange. Diversification lowers the volatility of the investment.
  • Superior liquidity. The market makers of the fund maintain buy and sell quotes and ensure that the shares can be traded at any time. The primary market for purchase and redemption of shares is also open every day to larger qualified investors.
  • Easy to follow. There is no need to devote time and resources to analyze, pick and follow individual stocks. Index investing is a convenient and efficient macro play.
  • No income tax for investors. Capital gains (profits) from UCITS-compliant vehicles are exempt from taxation in Bulgaria.
  • No corporate taxation for the ETF. UCITS-compliant vehicles, such as the index ETF, are exempt from corporate taxation in Bulgaria.
  • Low transaction fees. It is cheaper to invest in one instrument rather than in shares of multiple companies. There are no taxes in Bulgaria when buying and selling shares, only brokerage and settlement commissions.
  • European regulation. The ETF is fully compliant with the UCITS directive of the European Union.

ΞPortfolio Structure & Basket of Securities as of 20 Sept 2021Ξ



Summary as of 23.09.2021
Net asset value per share EUR 1.1276
Net asset value EUR 834 418.52
Number of outstanding shares 740 000
Number of shares as of 23.09.2021
Number of shares already issued 740 000
New shares ordered for issuance in settlement 0
Shares ordered for redemption 0
Total number of shares 740 000
Orders on the primary market submitted by 3 p.m. on 23.09.2021
Orders for purchase of shares (number of shares) 0
Orders for redemption of shares (number of shares) 0
Yield (%)
Since the beginning of the year +28.11%
For the previous year -10.92%
Since the beginning of the public offering (annualized) +3.24%

Net asset value per share, in EUR

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Expat Czech PX UCITS ETF NAV per unit compared to PX Index close price – normalized to start at 1

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Managing company

Expat Asset Management Sofia, 96A G. S. Rakovski Str. Tel.: +359 2 980 1881 Fax: +359 2 980 7472 E-mail: office@expat.bg Web: www.expat.bg


Eurobank Bulgaria Sofia, 260 Okolovrasten pat Blvd. Tel.: +359 2 816 6215 Fax: +359 2 988 8191 E-mail: custody@postbank.bg Web: www.postbank.bg

The Depository Bank keeps the fund's assets and oversees its operations and the calculation of net asset value of the Fund.


Bulgarian Stock Exchange Sofia, 6 Tri ushi Str. Tel.: +359 2 937 0934 Fax: +359 2 937 0946 E-mail: bse@bse-sofia.bg Web: www.bse-sofia.bg

Ticker: CZX


Frankfurt Stock Exchange (XETRA) 4 Börsenplatz, Frankfurt, Germany Tel.: +49 69 211 18310 E-mail: boerse-frankfurt@deutsche-boerse.com Web: www.boerse-frankfurt.de


Benchmark Finance Sofia, 19 Viskyar planina Str. Tel.: +359 2 625 481 Fax: +359 2 625 388 E-mail: office@benchmark.bg Web: www.benchmark.bg


Lang & Schwarz Breite Strasse 34, 40213 Duesseldorf Tel.: +49 211 138 40 404 E-mail: public-relations@ls-d.de Web: www.ls-d.de

Floor specialist for Frankfurt Stock Exchange

Steubing AG Goethestraße 29 , D-60313 Frankfurt am Main Tel.: +49 69 297 160 E-mail: info@steubing.com Web: www.steubing.com

Information agent in Germany

Zeidler Legal Services Rechtsanwaltsgesellschaft mbH Bettinastrasse 48, 60325 Frankfurt, Germany Tel.: +49 69 99 99 97610 E-mail: contact@zeidlerlegalservices.com Web: www.zeidlerlegalservices.com