Short indexes can have hedge value, says Deutsche Börse’s index chief

Short indexes can still serve as a hedge in a portfolio despite their ‘drag' effect, according to Konrad Sippel, head of XTF, indexes and exchange-traded funds (ETFs) at Deutsche Börse, speaking at the Structured Products Art of Indexing Conference in New York last week.

Short and leveraged ETFs have come under fire in the US recently following divergent performances from the indexes they were designed to track over longer than one day, which is due to daily compounding.

Using the Dax German equ

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