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Sygnia Itrix S&P 500 ETF


The Sygnia Itrix S&P 500 ETF is a high-risk, passively managed index-tracking fund registered as a collective investments scheme and listed on the Johannesburg Stock Exchange as an exchange traded fund. The objective of this portfolio is to provide simple access to investors who wish to track the movements of the S&P 500 Index by investing in the physical index securities.

“Our funds are designed to challenge the status quo, because we want our investors to feel like the world is their oyster, that everything is possible.”

Kyle Hulett, Head of Investments

About this fund

Investment objective and strategy
The objective of the Sygnia Itrix S&P 500 ETF is to provide simple access to investors who wish to track the movements of the S&P 500 Index through investing in the physical index securities. The S&P 500 Index consists of 500 of the largest companies from the S&P 500, reflecting US mega-cap performance. This is a high risk, passively managed index tracking fund, the objective of this portfolio is to provide simple access to investors who wish to track the movements of the S&P 500®. The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities, includes 500 leading companies and captures approximately 80% coverage of available market capitalisation. The investment policy of the portfolio is to track the index as closely as practically and feasibly possible by buying securities included in the index at similar weighting as they are included in the index. Whenever the index gets rebalanced, the portfolio will purchase the newly included constituent securities and will sell the constituent securities which were excluded from the index. Derivatives are allowed for efficient portfolio management.

What the fund invests in

Top 10 holdings PercentageAllocation
Microsoft Ord Shs 7.1
Apple Ord Shs5.6
NVIDIA Ord Shs 5.0
Amazon Com Ord Shs 3.7
Meta Platforms Ord Shs Class A2.4
Alphabet Ord Shs Class A 2.0
Berkshire Hathaway Ord Shs Class B 1.7
Alphabet Ord Shs Class C1.7
Eli Lilly Ord Shs 1.4
Broadcom Ord Shs1.3

Risk profile
The fund has a 100% strategic allocation to US equities. The risk in the fund is managed by spreading investments across sectors and individual shares, but the structure of the fund is dictated by the composition of the S&P 500 Index. The focus on a high-dividend stream and mid- to-large cap companies provides an added benefit in terms of risk management.

For the investor

Who should invest
The Sygnia Itrix S&P 500 ETF has a high risk profile and is designed to track the benchmark index as closely as possible by buying the securities in the index at similar weighting as the Index. It is a suitable investment for investors seeking higher returns, those willing to tolerate higher volatility and those aiming to maximise capital accumulation over the longer term. The investment is also suitable for investors who wish to maximise their returns in the most cost-effective manner without having to select asset managers or take on the risk of active and subjective investment decision-making processes. Given the specialist nature of the fund, it should be used as part of a diversified investment strategy rather than as a sole equity investment.


Annual management fee 0.15% p.a (excl. VAT)
Other expenses0.02%
Total expense ratio (TER)0.20% (Mar 2024)
Transaction costs (TC):0.00% (Mar 2024)
Total investment charge (TIC)0.20% (Mar 2024)

A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER may not necessarily be an accurate indication of future TERs. TCs are a necessary cost in administering the financial product and impact financial product returns. TCs should not be considered in isolation, as returns may be impacted by many other factors over time, including market returns, the type of financial product, the investment decisions of the investment manager and the TER.


The Sygnia Group is a member of the Association for Savings and Investment SA. Sygnia ltrix (RF) (Pty) Ltd is a registered and approved Manager under the Collective Investment Schemes Control Act, 2002 (CISCA). Sygnia Asset Management (Pty) Limited (FSP 873), an authorised financial services provider, is the appointed investment manager of the fund. Sygnia ltrix does not provide any guarantee with respect to the capital or return of the portfolio. Collective investment schemes are generally medium- to long-term investments. Collective investment schemes are traded at ruling prices and can engage in borrowing and scrip lending. The value of investments/units may go down as well as up, and past performance is not necessarily an indicator of future performance. ETFs trade on stock exchanges and may therefore incur additional costs associated with listed securities. Unlike a unit trust, which can be bought or sold only once per day, an ETF can be traded intraday, during exchange trading hours. ETFs may invest in foreign securities, which may be exposed to macroeconomic, settlement, political, tax, liquidity and foreign exchange risks. Performance is calculated for the portfolio, and individual investor performance may differ as a result of trading cost and price paid for investment share. Additional information on the Index, including its performance and tracking error can be viewed on the relevant minimum disclosure document (MDD) on www.sygnia.co.za. A schedule of fees, charges and – where the ETF engages in securities lending activities, information on such securities lending activities – may be requested via admin@sfs.sygnia.co.za or 0860 794 642. The complete terms and conditions of your ETF investment are contained in the fund’s offering circular, pre-listing statement, programme memorandum and/or supplemental deed, and index constituents with prices are published daily on Sygnia’s website. The documents/information may be obtained from www.sygnia. co.za or on request from Sygnia. Nothing in this document shall be considered to state or imply that the fund is suitable for a particular type of investor. All the portfolio options presented are approved collective investment schemes in terms of CISCA. The Manager has the right to close any portfolios to new investors to manage the portfolios more efficiently in accordance with their mandates.

Index disclaimer
The S&P 500® is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed for use by Sygnia Itrix (RF) (Pty) Ltd. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”) and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”), and these trademarks have been licensed for use by SPDJI and sublicensed for use for certain purposes by Sygnia Itrix (RF) (Pty) Ltd. The Sygnia Itrix S&P 500 ETF is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s), nor do they have any liability for any errors, omissions, or interruptions of the S&P 500®.

Fund overview

Risk profile
Time horizon
5+ years
Fund launch date30-10-2017Fund sizeR 5.584 billionBenchmarkS&P 500®

Portfolio managers

Sygnia Asset Management (Pty) Ltd

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