comdirect Launches Its First Own ETF, the comdirect All World ETF

German online broker comdirect has launched its first proprietary exchange-traded fund (ETF), the comdirect All World ETF. The product was developed in partnership with State Street Investment Management, which handles custody and management of the fund.

The ETF tracks the S&P Global Select Capped Index, which covers approximately 45 countries and over 4,100 stocks. The index allocates about 80% to developed markets and 20% to emerging markets. In addition to large- and mid-cap stocks, it includes small-cap companies that meet certain quality criteria, such as positive earnings per share over the past two years.

To reduce concentration risk, the index applies a capping mechanism that limits the weight of the largest individual holdings. The fund is denominated in US dollars but can be traded in euros. It is physically replicating and accumulating, meaning dividends are automatically reinvested.

Fees and Accessibility

The comdirect All World ETF carries a total expense ratio (TER) of 0.40% per annum. Investors can buy the fund through one-time investments or via a savings plan, with a minimum plan contribution of just €1 per month.

comdirect positions the ETF as a simple, all-in-one global equity solution suitable for both beginners and experienced investors. It competes with other broad world ETFs such as those tracking the MSCI World, FTSE All-World, or MSCI ACWI indices, with comparable costs and index coverage.