EUBO seeks to track performance of the iBoxx EUR European Union Select Index, a basket of EUR denominated investment grade bonds issued by the EU.
The market-cap-weighted index contains only bonds that are issued by the EU to finance the SURE[1] programme which has a ceiling of €100 billion and the NextGenerationEU initiative which has an envelope of €750 billion. These initiatives help to mitigate EU member state unemployment risks and repair the immediate economic and social damage brought about by the coronavirus pandemic.