Amundi EUR Credit Spread Widening UCITS ETF

Synthetic credit relative-value ETF built to benefit from widening euro investment-grade credit spreads rather than long-only corporate-bond carry. The index combines a short EUR investment-grade corporate-bond position with a long German sovereign-bond position of adjacent durations, delivered through an unfunded total return swap. Principal return drivers are changes in corporate-versus-sovereign spread differentials and the carry/funding of the long/short structure, while conventional exposure remains concentrated in euro rates and credit-spread regimes.