ETF/ETC/ETN

ETF/ETC/ETN mean:

• A simple way to build a diversified investment portfolio: one instrument tracks the performance of leading world stock exchange indices, commodities, precious metals.
• Transparent investment strategy: the instrument is designed to track as closely as possible the performance of the underlying assets (stock market indices, precious metal prices, commodities and many others).
• Liquidity: the instruments are listed on the exchange, buy and sell orders are placed throughout the trading session by the market maker, any number of ETCs can be bought and sold at any time.
• Easy access: ETCs can be bought and sold at any trading session, through a brokerage account with any brokerage firm.
• In the case of ETFs, income from dividends paid by S&P500 companies (dividends are aggregated in WIG20TR and DAX – total return  indices, dividends are not paid); a dividend equivalent to that paid by the index companies can be paid to the investor by the fund once or twice a year.
• Gold ETC: the gold is securely custodied in the vault, ETCs can be redeemed for gold bars or coins (direct contact with the issuer is required).
• Low management fees: several times lower than the average fees charged by traditional TFIs. No handling fees or entry and exit fees are charged for ETC trading on the exchange (except broker’s fees).

ETF (Exchange Traded Fund) is an open-ended investment fund traded on the stock exchange, which tracks the performance of an exchange index. Like other investment funds, an ETF is regulated by EU Directives and national regulations. An ETF may create and redeem "units/shares" on on-going (daily) basis. ETF creation units are traded on the stock exchange on the same terms as shares.

ETFs:

• An easy way to diversify the investment portfolio - one instrument tracks the performance of indices of leading global exchanges.
• A transparent investment strategy - the fund tracks the performance of indices.
• Liquidity - an instrument traded on the exchange, buy and sell orders are available from the market maker during the trading session, any number of ETF units may be bought or sold at any time.
• Easy access – may be bought or sold at any session via a securities account operated by any broker.
• Benefits from dividends paid by S&P500 companies (WIG20TR and DAX include the dividend – as a total return index, it pay no dividend) - once or twice a year the investor may receive from the fund a dividend equal to the weighted average dividend of companies participating in the underlying index;
• Low management fees - several times lower than the average fees charged by traditional investment fund managers; there are no administrative fees, front-end or back-end fees on transactions concluded on the exchange.

TBSP.Index ETF BETA
Introduced to trading on GPW on 17 January 2022. TBSP.Index ETF is issued by AgioFunds TFI SA (a licenced Polish investment fund company). ETF certificates are traded in PLN in the continuous trading system on the same terms as shares. ETF certificates have the trading name ETFBTBSP. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell certificates.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

DAX ETF AMUNDI
Introduced to trading on GPW on 31 May 2011. Its PLN value is equal to 1/100 of DAX value in EUR. Traded in PLN in the continuous trading system on the same terms as shares. The trading unit is 1 creation unit. The creation units have the trading name ETFDAX. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

S&P500 ETF AMUNDI
Introduced to trading on GPW on 31 May 2011. Its PLN value is equal to 1/100 of S&P500 value in USD. Traded in PLN in the continuous trading system on the same terms as shares. The trading unit is 1 creation unit. The creation units have the trading name ETFSP500. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

WIG20TR ETF BETA
Introduced to trading on GPW on 7 January 2019. WIG20TR ETF is issued by AgioFunds TFI SA (a licenced Polish investment fund company). ETF certificates are traded in PLN in the continuous trading system on the same terms as shares. ETF certificates have the trading name ETFBW20TR. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell certificates.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

mWIG40TR ETF BETA
Introduced to trading on GPW on 5 September 2019. mWIG40TR ETF is issued by AgioFunds TFI SA (a licenced Polish investment fund company). ETF certificates are traded in PLN in the continuous trading system on the same terms as shares. ETF certificates have the trading name ETFBM40TR. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell certificates.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

BETA ETF on the GPWB-BWZ index (an index of government bonds with a maturity of more than six months)
Debuted on the WSE on 2 January 2024 (as a result of the conversion of the ETFBWTECH fund). These are ETFs,  Investment Certificates of a Portfolio Closed-end Investment Fund issued by AgioFunds TFI. The unit of listing is 1 ETF. The ETFs are listed under the abbreviated name: ETFBCASH. The replication of the WSEB-BWZ Index (income index) is mainly carried out by buying the bonds included in the index. Liquidity in the secondary market is ensured by market makers, whose role is to enable buy and sell transactions by investors.
Data on management fees and other important information can be found here: Link to the issuer's website
Documents on the risks associated with investing in ETFs. KID -  Key Informaton Document) can be found on the issuer's website: KID (Key Information Document)

WIG20TRsht ETF BETA
Introduced to trading on GPW on 27 November 2019. WIG20TRsht ETF is issued by AgioFunds TFI SA (a licenced Polish investment fund company). ETF certificates are traded in PLN in the continuous trading system on the same terms as shares. ETF certificates have the trading name ETFBW20ST. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell certificates.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

WIG20TRlev ETF BETA
Introduced to trading on GPW on 25 February 2020. WIG20TRlev ETF is issued by AgioFunds TFI SA (a licenced Polish investment fund company). ETF certificates are traded in PLN in the continuous trading system on the same terms as shares. ETF certificates have the trading name ETFBW20LV. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell certificates.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

Nasdaq-100 NTR (PLN-HEDGED) ETF BETA
Introduced to trading on GPW on 8 February 2021. ETF is issued by AgioFunds TFI SA (a licenced Polish investment fund company). ETF certificates are traded in PLN in the continuous trading system on the same terms as shares. ETF certificates have the trading name ETFBNDXPL. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell certificates.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

S&P 500 NTR (PLN-HEDGED) ETF BETA
Introduced to trading on GPW on 15 March 2021. ETF is issued by AgioFunds TFI SA (a licenced Polish investment fund company). ETF certificates are traded in PLN in the continuous trading system on the same terms as shares. ETF certificates have the trading name ETFBSPXPL. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell certificates.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document)

sWIG80TR ETF BETA
Introduced to trading on GPW on 14 December 2021. sWIG80TR ETF is issued by AgioFunds TFI SA (a licenced Polish investment fund company). ETF certificates are traded in PLN in the continuous trading system on the same terms as shares. ETF certificates have the trading name ETFBS80TR. Liquidity of trading on the secondary market is supported by a market maker, allowing investors to buy and sell certificates.
More information about management fees and other details: Link to issuer website
Documents describing the risks of investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document).

BETA ETF Nasdaq-100 NTR 3xLeveraged (PLN Hedged)
It debuted on the Warsaw Stock Exchange (GPW) on 10 September 2024. These are investment certificates of a Closed-End Portfolio Investment Fund issued by AgioFunds TFI. The trading unit is 1 investment certificate. The certificates are listed under the short name: ETFBNQ3LV. Liquidity in the secondary market is ensured by market makers whose role is to facilitate the execution of buy and sell transactions by investors.
Information on management fees and other important details can be found here: Link to the issuer’s website.
Documents concerning the risks associated with investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document).

BETA ETF Nasdaq-100 NTR 2xShort (PLN Hedged)
It debuted on the Warsaw Stock Exchange (GPW) on 10 September 2024. These are investment certificates of a Closed-End Portfolio Investment Fund issued by AgioFunds TFI. The trading unit is 1 investment certificate. The certificates are listed under the short name: ETFBNQ2ST. Liquidity in the secondary market is ensured by market makers whose role is to facilitate the execution of buy and sell transactions by investors.
Information on management fees and other important details can be found here: Link to the issuer’s website.
Documents concerning the risks associated with investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document).

BETA ETF DYWIDENDA PLUS
Debuted on the Warsaw Stock Exchange (WSE) on August 18, 2025. These are investment certificates of a Closed-End Portfolio Investment Fund issued by AgioFunds TFI. Its objective is to replicate the performance of the WIGdivplus Index. The trading unit is 1 investment certificate. The certificates are listed under the ticker: ETFBDIVPL. Replication of the WIGdivplus Index (a total return index) is carried out mainly through the purchase of shares included in the index, with only partial use of derivatives. The fund intends to distribute the dividends received from the companies that make up the index. Market liquidity on the secondary market is ensured by market makers, whose role is to enable investors to execute buy and sell transactions.
Information on management fees and other important details can be found here: Link to issuer website
Documents regarding the risks associated with investing in ETFs (KID – Key Information Document) are available on the issuer’s website: KID (Key Information Document).

Future of Defence UCITS ETF
Debuted on the Warsaw Stock Exchange (WSE) on August 27, 2025. These are the units of the ETF issued by HANETF ICAV. Its objective is to replicate the performance of the EQM NATO+ Future of Defence Index. The trading unit is 1 ETF unit. The ETF units are listed under the ticker: ETFNATO. Replication of the EQM NATO+ Future of Defence Index (a total return index) is carried out through the purchase of shares included in the index. Market liquidity on the secondary market is ensured by market makers, whose role is to enable investors to execute buy and sell transactions.
Information on management fees and other important details can be found here: Link to issuer website
Documents regarding the risks associated with investing in ETFs (KID – Key Information Document) is available on the issuer’s website: KID (Key Information Document).

BETA ETF based on Bitcoin Futures Contract listed on the Chicago Mercantile Exchange (CME), PLN hedged
These are Investment Certificates of a Closed-End Portfolio Investment Fund issued by AgioFunds TFI. The investment objective of the Fund is to achieve returns reflecting the percentage changes of the Bitcoin futures contract for the same periods, regardless of currency exchange rate fluctuations and irrespective of whether, during these periods, the Underlying Portfolio is in an upward or downward trend.
The certificates are listed under the short name: ETFBTCPL. The contract price is determined based on the CME CF Bitcoin Reference Rate, which relies on Bitcoin quotations on the largest cryptocurrency exchanges. The Underlying Portfolio consists 100% of futures contracts issued and traded on CME (a market recognized as equivalent to a regulated market under MiFID II Directive), providing exposure to Bitcoin.
Liquidity in the secondary market is ensured by market makers, whose role is to facilitate the execution of buy and sell transactions by investors.
Information on management fees and other important details can be found here: Link to issuer website
Documents regarding the risks associated with investing in ETFs (KID – Key Information Document) is available on the issuer’s website: KID (Key Information Document).

ETC (Exchange Traded Commodities) are mostly passive, physically backed instruments that resemble ETFs in operation but are created and offered as debt instruments. The most popular underlying assets for ETCs are physical precious metals, especially gold. Underlying assets (mostly physical) are safely stored and often audited additionally by an independent party. The instruments are offered to investors and can be traded on the exchange like shares or ETFs. Some ETCs offer physical redemption of underlying assets (e.g. gold).

Basic features of ETCs:

• the instrument is passive – it tracks the performance of a commodity index,
• issuer assets and investor assets are segregated, involving a custodian,
• the instrument is usually 100% physically backed (unlike, for example, structured instruments which are backed by the issuer’s assets),
• the instrument is open-ended – possibility of daily creation and redemption of certificates/units (similar to ETFs),
• participation of a market maker,
• traded on the exchange like shares or ETFs

The Royal Mint Responsibly Sourced Physical Gold ETC (ETCGLDRMAU)

The physical gold ETC, issued by HANetf, was introduced to trading on the GPW Main Market on 30 August 2023. Each ETC is equal to 1/100th of a troy ounce of gold spot price from the London Metal Exchange quotations. The gold is stored and guarded in The Royal Mint’s highly secure vault in Llantrisant, Wales and regularly audited by an independent party. These are London Bullion Market Association (LBMA) Good Delivery bars, that are sourced on a best endeavour basis from the LBMA’s Responsible Sourcing program to assure investors that the gold is from conflict-free, legal sources. Moreover, about 35% of the gold custodied by the ETC is 100% recycled gold. Recycled gold is less carbon intensive than mined gold. The ETC only holds gold bars, no cash or derivatives. Investors have the option of redeeming the ETC for physical gold bars or bullion coins (direct contact with the issuer is required).
For more information on the new product, including the Key Information Document, visit the issuer’s website: https://www.hanetf.com

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