BNP Paribas Easy - BLOOMBERG EUROPE DEFENSE UCITS ETF

Issuer: BNP Paribas Asset Management

Asset Class: Equity

TER: 50

Trading Currency: EUR

Pays Income: False

Listing Date: 04 Nov 2025

Ticker: GUAR

ISIN: LU3047998896

This fund provides targeted exposure to the European defense sector, a market experiencing significant tailwinds due to the evolving geopolitical landscape. Heightened global tensions and regional conflicts have prompted many European nations to reassess their security policies and substantially increase defense expenditures. Governments are accelerating efforts to meet and exceed NATO spending targets, fueling a long-term cycle of military modernization and rearmament. This financial instrument is designed to capture the performance of companies that are direct beneficiaries of this secular trend, offering a strategic play on the growing importance of national and continental security.

The underlying portfolio is composed of leading publicly-listed companies across Europe whose primary business activities are in the aerospace and defense industry. These constituents are involved in the design, manufacture, and distribution of a wide array of military equipment and services, including advanced combat aircraft, naval vessels, armored vehicles, missile systems, and cutting-edge cybersecurity solutions. By holding a basket of these key industry players from countries with robust defense industrial bases such as the United Kingdom, France, Germany, and Italy, the fund offers diversified access across the entire defense value chain.

As an investment, this product serves as a tactical or strategic allocation for portfolios aiming to capitalize on increased government spending on security. As European countries continue to allocate significant portions of their national budgets towards enhancing their defense capabilities, the companies held within this portfolio are well-positioned for sustained revenue growth and order backlogs. This offers the potential for capital appreciation, making it a compelling option for those looking for focused exposure to this timely and resilient market theme.