Index: index used for reference. Dólar Trac and Peso Trac replicate the daily performance of their respective index.
Closing/valuation price: this price is published daily on the webpage of the BMV (file “CarTracs”). It is the price creations and redemptions are made at.
INAV/theoretical price/reference: Valuation of the portfolios in real time, divided by the number of certificates in circulation.
Market Price: The price at which ETFs trade on the secondary market.
It is important to remember that the ETF reproduce the daily performance of the currency and not its value.
On the other hand, the trusts contain CETES and DEUA Futures, and the interests to be received or paid are incorporated into the portfolio mix of the funds. Additionally, the valuation of the trusts take into account the expenses to be paid.
The INAV (Intraday Net Asset Value) of each fund is calculated in real time by the Mexican Stock Exchange and reflects continuously the theoretical price of the ETF during the trading session.
They can be found on:
- Bloomberg: DLRTRCIV and PSOTRCIV
Among the main users we count portfolio managers, private pension funds, insurance companies, private banks and investors with the necessary understanding of the instruments and the risks that they entail
On the primary market, large operations are made directly with the issuer through Authorized Participants and they settle in 48h.
- The Creation is an exchange between the Authorized Participant and the Trust where the former delivers a basket of CETES, and the latter the ETF certificates. It is a way for the Authorized Participant to buy the ETF.
- The Redemption is an exchange between the Authorized Participant and the Trust where the former delivers the ETF, and the second a basket of CETES. It is a way for the Authorized Participant to sell the ETF.
These two processes are only open to Authorized Participants, by blocks of 200,000 certificates (unit). The number of CETES required is determined at the closing of the transaction based on the valuation of the assets and the operating cost of rebalancing. Before 2 pm, the trustee/issuer indicates the provisional number of CETES to be delivered in the event of Creation (see file “Canasta prévia de creación,” published on the website of the BMV).
Those financial institutions who signed an accreditation agreement with the trustee/issuer of Dólar Trac and Peso Trac. You may find the accreditation form in the trust contract published on the Mexican Stock Exchange (BMV) website or Quanta Shares Website.
Clicking on the following links to the page of the Mexican Stock Exchange:
The “Canasta prévia de creación” is published before 2 pm in “Eventos Relevantes”.
The file “Composición de cartera TRACS” (“CarTracs”) is in the “Information Juridica y Corporativa” by clicking on “Eventos Corporativos”.
Dólar Trac and Peso Trac trade like any stock on the Mexican Stock Exchange, so the brokerage fee is the same as for any other stock. This fee is individually negotiated for each brokerage account between the investor and the broker.
Since the beginning of 2017, 2018 and 2019, Peso Trac and Dólar trac are the 2nd 3rd most traded ETF on the Mexican Stock Exchange. We have a market maker, Finamex, and several authorized participants that provide easy access when buying or selling the ETF. The market maker provides unlimited volume and competitive spreads until 1.30 pm.
Contact: Finamex (Maria de Lourdes Perez): +52 55 5209 2226
Dólar Trac and Peso Trac are classified as debt ETFs (value type 1-C). This classification determines the applicable tax treatment.
For Mexicans, the profits or losses made with our ETFs are cumulative or deductible to/from the investors income, which is particularly interesting for comprehensive tax planning.
For foreign investors no retention or Mexican tax applies.