X S&P 500 Swap

X S&P 500 Swap is a UCITS ETF that seeks to track the performance of the S&P 500 index, which measures the performance of the 500 largest companies listed on U.S. stock exchanges. Launched in 2010 and domiciled in Luxembourg, it provides investors with diversified exposure to large-cap U.S. equities across sectors such as technology, finance, industrials, and consumer goods. The ETF employs synthetic replication through unfunded swaps with counterparties including major banks like Barclays, Deutsche Bank, and Goldman Sachs, allowing it to mirror the S&P 500 Net Dividends Reinvested Index without physical ownership of the underlying stocks. As an accumulating fund, dividends are reinvested rather than distributed, supporting long-term capital growth. This structure offers currency unhedged access to the U.S. equity market benchmark, appealing to those seeking broad market participation with efficient, low-cost tracking of America's leading corporations.