On 3 August 2026, Xtrackers MSCI Innovation UCITS ETF gave two weeks’ notice of a meeting on 17 August at which it proposed to shift from tracking the MSCI ACWI IMI Innovation Index to tracking the MSCI World Semiconductors & Semiconductor Equipment 20/35 Index.

This is one passive thematic strategy replacing another passive thematic strategy. It comes with a fee cut – the management company fee of the 1C class of shares will be decreased from “up to 0.15% per annum” to “up to 0.10% per annum” and the platform fee will remain unchanged at “up to 0.15% per annum”.

QuotedData’s James Carthew said: “The existing ETF is tiny – just $6.88m of AUM at 31 July 2026. I guess the hope is that there’ll be more interest in semiconductors. However, I also wonder whether that ship has sailed given the volatility in semiconductor companies’ share prices over recent weeks.”

The five-largest stocks in the existing ETF are Microsoft, Mastercard, Visa, Vertex Pharmaceuticals, and Roche. Between them, they accounted for 23.3% of the portfolio. In the new benchmark index, the five largest stocks at 31 July 2026 were Nvidia, Broadcom, Micron, Advanced Micro Devices, and ASML. Between them, they accounted for 72.7% of the portfolio, with Nvidia making up about half of that. “Clearly, this is a much punchier and therefore riskier proposition”