BNP Paribas Easy Global Equity Long/Short UCITS ETF

Active systematic equity long/short ETF designed to deliver alternative returns with lower volatility than broad global equities. The implementation uses a substitute equity basket plus unfunded total return swaps to obtain synthetic long and short exposure to a diversified global stock universe. Principal return drivers are stock-selection spreads, factor premia and relative performance between long and short books, while the strategy remains structurally moderately net long. Conventional market exposure therefore still matters through residual global equity beta, sector and regional tilts and the behaviour of the substitute basket.