At a glance
FINE charges 0.35% a year, below the 0.41% average of the 1 funds most like it. It has $666K in assets. Over the past year it returned +0.1% with distributions reinvested (S&P 500: +11.5%). Its ten largest positions make up 47.3% of the fund, out of 24 in all.
The short version
Themes European Luxury ETF (FINE) tracks the Solactive European Luxury Index: 25 European companies earning at least half their revenue from luxury, such as Hermès, Ferrari, Burberry and yacht maker Ferretti. Each company gets an equal weight at twice-yearly rebalances, so smaller names count as much as Hermès. It charges 0.35% a year, below the 0.41% peer average, but it is very small and paid no income in the year to October 27, 2026.
Price history
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FINE +0.1% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FINE price data to Oct 27, 2026 | +0.1% | +0.1% | — | — | — | -3.6% |
- Over the year to Oct 27, 2026, FINE returned +0.1%.
- Its worst full calendar year was 2024 (-8.6%); its best was 2025 (-1.3%).
- The deepest fall in its price history was 30.6% (Mar 13, 2024 to Apr 8, 2025), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2025 | -1.3% |
| 2024 | -8.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2024 | $0.2200 |
What's inside
As of Jun 30, 2025, the fund held 24 securities; the ten largest made up 47.28% of assets.
| Holding | Weight | |
|---|---|---|
| Burberry Group PLC | 5.66% | |
| Givaudan SA | 4.83% | |
| Ferretti SpA | 4.82% | |
| Ferrari NV | 4.78% | |
| HUGO BOSS AG | 4.67% | |
| Porsche Automobil Holding SE Preferred stock | 4.64% | |
| Accor SA | 4.55% | |
| Hermes International SCA | 4.47% | |
| Cie Financiere Richemont SA | 4.47% | |
| Interparfums SA | 4.38% | |
| Ermenegildo Zegna NV | 4.36% | |
| Brunello Cucinelli SpA | 4.33% | |
| Moncler SpA | 4.14% | |
| Coats Group PLC | 4.08% | |
| Swatch Group AG | 3.96% |
By country
Italy 29.32%United Kingdom 24.04%France 20.3%Switzerland 13.25%Germany 12.89%By asset type
Stocks 95.18%Preferred stock 4.64%What changed recently
- Over the three months to Jun 30, 2025, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.24%, +9.35%, -0.83%.
How it works
FINE is an index fund: it tries to match the Solactive European Luxury Index, before fees, rather than beat it, and does not move to cash in downturns. Solactive AG, which is independent of the adviser, Themes Management Company, runs the index. Eligible companies must be headquartered in an approved European country, such as France, Italy or the UK, be worth at least $100 million and trade at least $1 million a day on average.
Solactive's language-processing software, ARTIS, scans news, business profiles and company reports for firms in luxury accessories, premium clothing, beauty, cars and yachts, and upscale hotels. A company needs at least 50% of its revenue from luxury. ARTIS scores each company on its luxury exposure; after Solactive weeds out poor fits, the top 25 enter the index, each at the same weight. Rebalancing happens on the third Friday of January and July; in between, weights drift with prices.
The fund generally owns the index stocks directly (replication) and may use ADRs or GDRs, certificates representing foreign shares. As of June 30, 2025, it held 24 holdings, led by Burberry (5.7%), Givaudan (4.8%), Ferretti (4.8%) and Ferrari (4.8%), with the top 10 at 47% of assets. Because the index is priced in US dollars, moves in the euro, pound and Swiss franc affect returns.
What it really costs
- FINE charges 0.35% a year, versus an average of 0.41% for the similar funds below.
- Using the prospectus's standard example, $10,000 invested would cost about $36 in the first year and $443 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FINE | $36 | $113 | $197 | $443 |
In a retirement portfolio
It is a narrow bet on about two dozen European luxury stocks, with no income and a short record that shows losses in both of its full calendar years.
FINE could add a focused slice of European luxury companies, such as Ferrari, Hermès and Burberry, next to core funds. It launched on December 15, 2023, so it has no record from the 2008, 2020 or 2022 sell-offs. It fell 30.6% from March 13, 2024 to April 8, 2025, and had not recovered as of October 27, 2026. Both full calendar years were losses: -8.62% in 2024 and -1.33% in 2025. Selling near that low to raise cash would have meant a deep loss.
It paid no income in the year to October 27, 2026. It costs 0.35% a year, below the 0.41% peer average. Under the SEC's standard example, costs come to $443 over 10 years on $10,000. Its very small size as of June 30, 2025, raises closure risk. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking a targeted bet on European luxury names such as Hermès, Ferrari, Richemont and Moncler, held in near-equal weights rather than by size.
- Those adding a small satellite to a broad core portfolio who can live with a 30.6% drop still unrecovered as of October 27, 2026.
- Thematic investors watching fees: FINE's 0.35% expense ratio is below the 0.41% charged by iShares Global Consumer Discretionary ETF (RXI).
Look elsewhere if
- Investors who need regular income: FINE paid no distributions in the year to October 27, 2026.
- Anyone seeking broad diversification: it held just 24 stocks across five European countries as of June 30, 2025, all chosen for luxury exposure.
- Those preferring large, seasoned funds: FINE launched in December 2023, was very small as of June 30, 2025, and lost money in 2024 and 2025.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| FINE this fund | — | 0.35% | $666K | +0.1% | — |
| RXI iShares Global Consumer Discretionary ETF | 7% | 0.41% | $251.7M | -7.8% | +13.3% |
Questions investors ask
What does the FINE ETF invest in?
FINE invests in European companies tied to the luxury industry by tracking the Solactive European Luxury Index. To qualify, a company must be headquartered in Europe and earn at least 50% of its revenue from luxury goods or services, such as handbags, watches, premium clothing, perfume, sports cars, yachts or upscale hotels. As of June 30, 2025, its largest holdings were Burberry (5.7%), Givaudan (4.8%), yacht maker Ferretti (4.8%), Ferrari (4.8%) and Hugo Boss (4.7%). Italy was the biggest country weight, at 29.3%.
Does FINE pay dividends?
No, not in the latest year. FINE made no distributions in the year to October 27, 2026, so its trailing yield was 0%. The fund launched in December 2023, so it has little payout history to judge. Anyone who needs regular cash from a portfolio would have to get it from other holdings or by selling shares, which is harder after a drop like FINE's 30.6% decline.
Is FINE a good ETF for retirement?
FINE fits better as a small, higher-risk satellite than as a core retirement holding. It owns about two dozen stocks in one industry and one region. It paid no income in the year to October 27, 2026, and lost money in both 2024 (-8.62%) and 2025 (-1.33%). Its deepest drop was 30.6%, and it had not recovered as of October 27, 2026. It launched in December 2023, so it has no record through a major crisis such as 2008 or 2020. Its 0.35% expense ratio is modest.
What's the difference between FINE and RXI?
FINE is a narrow European luxury fund. iShares Global Consumer Discretionary ETF (RXI) covers consumer discretionary (non-essential spending) companies worldwide. Their latest holdings reports overlapped by only about 7%, so RXI is a loose comparison rather than a substitute. FINE costs 0.35% a year, compared with 0.41% for RXI. Over the year to October 27, 2026, FINE returned 0.1% and RXI returned -7.8%. RXI is also far larger, which may mean easier trading and less risk of closure.
Is FINE an equal-weight ETF?
Yes. Its index gives each of its 25 companies an equal weight at every rebalance, on the third Friday of January and July, so the biggest luxury brands get no more weight than smaller ones. Index provider Solactive uses a language-processing tool called ARTIS to scan news and company documents. It scores each company's luxury exposure and keeps the top 25. Weights drift between rebalances: Burberry was the largest holding at 5.7% as of June 30, 2025, and the top 10 made up 47.3%.