Defiance Mag7 UCITS ETF lists on the London Stock Exchange in US dollars and sterling

The Defiance Mag7 UCITS ETF (ISIN IE000NFL4BX4) was admitted to trading on the London Stock Exchange on 5 November 2026.

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Article created by the editorial staff of ETFWorld.co.uk

Sylvia Jablonski, chief investment officer at Defiance ETFs

The equal-weight Magnificent Seven ETF from Defiance ETFs and HANetf trades in London under the tickers MAGZ (USD) and MAGP (GBX), with a TER of 0.39%.

 The fund is issued by HANetf II ICAV and was developed by US issuer Defiance ETFs on the HANetf white-label platform. It gives investors exposure to the seven US technology companies known as the Magnificent Seven, each held at an equal weight.

In London, the ETF has two trading lines: MAGZ, quoted in US dollars, and MAGP, quoted in pence sterling. The total expense ratio is 0.39%, and income is accumulated.

Two London lines for the Magnificent Seven ETF

Both lines refer to the same accumulating share class and share the same ISIN. They differ in trading currency and SEDOL code.

The fund is domiciled in Ireland. Its net asset value is calculated in US dollars.

How the equal-weight Mag7 index works

The ETF holds seven stocks: Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla. It tracks the Indxx Defiance Mag7 index and uses physical replication.

Each constituent starts every month at roughly one seventh of the portfolio. According to HANetf, the monthly rebalancing is designed to give each company a similar influence on returns. This differs from market-cap-weighted indices, where the largest companies carry the highest weights.

The methodology also includes an extraordinary rebalance. HANetf states that if a single constituent rises above 35% of the index, or if two or more constituents each exceed 20%, equal weights are restored within two trading days.

The issuer’s case for a single-stock-group ETF

HANetf points to the size of the group within US equities. According to the issuer, the combined market capitalisation of the seven companies was close to $24 trillion in October 2026, around 34% of the S&P 500. HANetf describes MAGZ as the first Mag7 ETF in Europe.

Sylvia Jablonski, Chief Investment Officer of Defiance ETFs, said that most investors hold these companies through broad indices at market-cap weights. She added: “With MAGZ, every one of the seven starts each month with the same weight.”

Hector McNeil, Co-Founder and Co-CEO of HANetf, said the launch was “building on the strong momentum of its European range.” He noted that Defiance has expanded to six UCITS ETFs since entering the European market in March 2026 and has attracted more than $240 million in assets.

Defiance’s European UCITS range

The Mag7 fund is the sixth UCITS ETF launched by Defiance with HANetf. The range began in March 2026 with the Defiance AI & Power Infrastructure UCITS ETF (AIPO). It was followed by ETFs on drones (DRON), Ukraine reconstruction (UKRN), memory (DRAM) and photonics (PHOT).

The new ETF carries a lower TER than the earlier thematic products in the range, which are priced at 0.69%.

Listings on other European exchanges

According to HANetf, the ETF is also listed on Deutsche Börse Xetra (MA9S, in euros), Borsa Italiana (MAGZ, in euros) and Euronext Paris (MAGZ, in euros).

Conclusions

The Defiance Mag7 UCITS ETF gives UK-based investors access to the seven largest US technology companies through a single Irish-domiciled UCITS fund, tradable in London in both dollars and sterling. The equal-weight approach with monthly rebalancing limits the weight of any single company, which differs from how the same stocks are held in broad market-cap indices.

The portfolio is concentrated in seven stocks from a small number of sectors. Investors should take this concentration into account, together with the currency exposure to the US dollar for those trading the sterling line.

Source: ETFWorld.co.uk