CBOE, WisdomTree Win 2017 Sharpe Product Award for Index/ETF Based on CBOE S&P 500 PutWrite Strategy
Industry Award Presented at William F. Sharpe Indexing Achievement Awards
CHICAGO - June 29, 2017 , CBOE Holdings, Inc. (BATS: CBOE | NASDAQ: CBOE) today announced CBOE and WisdomTree Investments, Inc. (NASDAQ: WETF), received the Index/ETF Product of the Year Award for the CBOE S&P 500 PutWrite Index (PUT) and the WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW). The award was announced Monday at the 22nd annual William F. Sharpe Indexing Achievement Awards, presented by Investment Management Networking (IMN) and The Journal of Index Investing in Dana Point, California.
WisdomTree launched the exchange-traded fund based on CBOEs S&P 500 PutWrite Index on February 24, 2016. Fund assets under management in PUTW were approximately $164 million as of June 27, 2017, according to the fund manager.The CBOE S&P 500 PutWrite Index (PUT) is designed to measure the performance of a hypothetical portfolio that sells S&P 500 Index (SPX) put options against collateralized cash reserves held in a money market account. The number of put options sold varies from month to month, but is limited so that the amount held in Treasury bills can finance the maximum possible loss from the final settlement of the SPX puts. CBOE began publishing daily data on the value of the CBOE S&P 500 PutWrite Index in 2007. Also in 2007, the CBOE S&P 500 PutWrite Index won the award for the Most Innovative Benchmark Index at the Annual Super Bowl of Indexing Conference, the former name of the IMNs yearly index industry event.
More recently, two research papers published in 2016, An Analysis of Index Option Writing with Monthly and Weekly Rollover by Oleg Bondarenko of the University of Illinois at Chicago, and Three Decades of Options-Based Benchmark Indices with Premium Selling or Buying: A Performance Analysis by Wilshire Analytics Applied Research Group, found that the PUT Index had higher risk-adjusted returns and lower volatility than the S&P 500 stock index over the period of about 30 years. Links to both papers and additional information on the PUT strategy is available at www.cboe.com/PUT.
About CBOE Holdings, Inc.CBOE Holdings, Inc. (BATS: CBOE | NASDAQ: CBOE), owner of the Chicago Board Options Exchange, the Bats exchanges, CBOE Futures Exchange (CFE) and other subsidiaries, is one of the worlds largest exchange holding companies and a leader in providing global investors cutting-edge trading and investment solutions. The company offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded funds (ETFs), and multi-asset volatility and global foreign exchange (FX) products. CBOE Holdings 14 trading venues include the largest options exchange in the U.S. and the largest stock exchange in Europe, and the company is the second-largest stock exchange operator in the U.S. and a leading market globally for ETF trading.
CBOE Holdings is home to the CBOE Volatility Index (VIX Index), the worlds barometer for equity market volatility; the CBOE Options Institute, the companys world-renowned education arm; CBOE Livevol, a leading provider of options technology, trading analytics and market data services; CBOE Vest, an asset management company specializing in target-outcome investment strategies; CBOE Risk Management Conferences (RMC), the premier financial industry forums on derivatives and volatility products; ETF.com, a leading provider of ETF news, data and analysis; and Hotspot, a leading platform for global FX trading.
The company is headquartered in Chicago with offices in Kansas City, New York, London, San Francisco, Singapore and Ecuador. For more information, visit www.cboe.com.
About WisdomTree
WisdomTree Investments, Inc., through its subsidiaries in the U.S., Europe, Japan and Canada (collectively, WisdomTree), is an exchange-traded fund (ETF) and exchange-traded product (ETP) sponsor and asset manager headquartered in New York. WisdomTree offers products covering equities, fixed income, currencies, commodities and alternative strategies. WisdomTree currently has approximately $44.9 billion in assets under management globally.
WisdomTree® is the marketing name for WisdomTree Investments, Inc. and its subsidiaries worldwide.
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