The credit derivative ETFs represent the yield of credit default swaps, which banks in particular use to transfer the credit exposure of fixed income products to third parties, so-called swap-seller. The swap-seller receives a premium to offset the risk in case the borrower will go default on a loan. In return, the swap-seller has to make a compensatory payment to the bank if the borrower delays or defaults.

With the Tabula European iTraxx Crossover Credit UCITS ETF (EUR) investors participate in the performance of an index that tracks an equally weighted portfolio of 75 European reference borrowers for sub-investment grade credit default swaps (CDS) with a term of five years.

The Tabula European iTraxx Crossover Credit Short UCITS ETF (EUR) pursues a contrary strategy. It represents the yield of a credit protection buyer holding the iTraxx crossover credit derivative transaction for corporate bonds with a term of five years.

The third Tabula European Performance Credit UCITS ETF (EUR) tracks the return of the iTraxx European Performance Credit Index, 80 percent of which is derived from the iTraxx Europe 5y (Investment Grade) CDS Index with 125 securities and 20 percent from the iTraxx Crossover (Sub-Investment Grade) CDS Index with 75 securities.

The product range in Deutsche Börse's XTF segment currently comprises a total of 1,504 ETFs. With this selection and an average monthly trading volume of around EUR 11 billion, Xetra is the leading trading platform for ETFs in Europe.