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First Bond ETFs from TFI PZU Debut on the Warsaw Stock Exchange

The range of ETF funds listed on the Warsaw Stock Exchange (GPW) has expanded with new products managed by TFI PZU. The instruments provide exposure to two segments of the domestic government bond market: fixed-rate and floating-rate treasury bonds. The introduction of these new solutions marks an important step in the development of ETFs on the Warsaw trading floor and broadens investment opportunities for both retail and institutional investors.

The range of ETFs, ETNs and ETCs available on GPW continues to grow steadily. At the end of the second quarter of 2026, investors had access to 42 instruments listed on the GPW Main Market and GlobalConnect. By comparison, just a few years ago the offering was limited to only a handful of funds tracking domestic and international indices. The list of products traded on GPW has now been expanded to include PZU ETF Obligacji Skarbowych Długoterminowych Portfelowy FIZ and PZU ETF Obligacji Skarbowych Zmiennokuponowych Portfelowy FIZ. With the launch of these funds, the number of ETF, ETN and ETC instruments available on GPW has increased from 42 to 44.

“The ETF segment on GPW is expanding with two new funds issued by TFI PZU and based on Polish Treasury bonds, which have held an important place in Polish investors’ portfolios for many years. We are pleased to see TFI PZU consistently developing its ETF product offering and actively contributing to the growth of this market. Polish investors currently hold approximately PLN 20 billion in ETFs. In response to growing interest in these instruments, GPW has published its first ETF Bulletin on GPW, presenting key information on instruments listed on the Warsaw Stock Exchange,” said Michał Kobza, Member of the Management Board of the Warsaw Stock Exchange.

The new ETFs from TFI PZU provide exposure to two segments of the Polish government bond market. PZU ETF Obligacji Skarbowych Długoterminowych Portfelowy FIZ focuses on fixed-rate bonds with longer maturities, while PZU ETF Obligacji Skarbowych Zmiennokuponowych Portfelowy FIZ invests in floating-rate bonds. As a result, investors are offered a choice of instruments tailored to different expectations regarding interest rate movements and investment portfolio management strategies. Both ETFs employ physical replication, meaning that they invest directly in the bonds comprising the underlying indices they track.

“The debut of two ETFs tracking key segments of the domestic Treasury bond market completes a crucial stage in the implementation of our growth strategy in this area and strengthens TFI PZU’s position as one of the most active and innovative providers of passive investment funds in Poland,” said Artur Trela, President of the Management Board of TFI PZU.

With the introduction of the new funds, the number of TFI PZU ETFs listed on GPW has increased from three to five. The offering now covers the most important asset classes: Polish equities (PZU ETF WIG20 TR and PZU ETF mWIG40 TR), global equities (PZU ETF MSCI World), gold (PZU ETF Gold), and Polish Treasury bonds.

The development of the ETF market is also being accompanied by improved access to information about this segment. In July 2026, GPW published the first edition of the ETF Bulletin on GPW, a quarterly publication dedicated to ETF, ETN and ETC instruments listed on the Main Market and GlobalConnect. The bulletin provides key data and insights regarding this market.

The GPW Main Market is a regulated securities market on which shares of domestic and international companies, bonds and other financial instruments, including exchange-traded funds (ETFs), are listed. ETF participation units listed on the GPW Main Market are traded during exchange sessions under the same rules and conditions as equities.