Frankfurt (23 August 2020) – Today, MV Index Solutions GmbH (MVIS®) announced the licensing of d 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 iIndex 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.
Read Press Release: