{"id":22272,"date":"2025-05-01T00:17:56","date_gmt":"2025-04-30T22:17:56","guid":{"rendered":"https:\/\/staging.moneyhub.ee\/useful-info\/raksti\/etf-currency-risk\/"},"modified":"2025-10-03T03:47:27","modified_gmt":"2025-10-03T01:47:27","slug":"etf-valuta-risks","status":"publish","type":"post","link":"https:\/\/staging.moneyhub.ee\/lv\/useful-info\/raksti\/etf-valuta-risks\/","title":{"rendered":"ETF val\u016btas risks: k\u0101 r\u012bkoties"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"22272\" class=\"elementor elementor-22272 elementor-18421\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5d7efb58 e-flex e-con-boxed e-con e-parent\" data-id=\"5d7efb58\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-32d40bf6 elementor-widget elementor-widget-shortcode\" data-id=\"32d40bf6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><\/p><\/nav><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-1e4750ba e-flex e-con-boxed e-con e-parent\" data-id=\"1e4750ba\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-a047e75 ddddf e-flex e-con-boxed e-con e-child\" data-id=\"a047e75\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-20c9d99a elementor-widget elementor-widget-heading\" data-id=\"20c9d99a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">ETF, kas ieguld\u012bti \u0101rvalstu v\u0113rtspap\u012bros, pak\u013cauj J\u016bs val\u016btas riskam. M\u0113s izskaidrojam ETF val\u016btas risku un sniedzam nor\u0101d\u012bjumus, k\u0101 sevi pasarg\u0101t.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-18b94166 e-flex e-con-boxed e-con e-parent\" data-id=\"18b94166\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-13e8adb2 elementor-widget elementor-widget-image\" data-id=\"13e8adb2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"2240\" height=\"1260\" src=\"https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it.png\" class=\"attachment-full size-full wp-image-22273\" alt=\"ETF valuutarisk\" srcset=\"https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it.png 2240w, https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-300x169.png 300w, https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-1024x576.png 1024w, https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-768x432.png 768w, https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-1536x864.png 1536w, https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-2048x1152.png 2048w\" sizes=\"(max-width: 2240px) 100vw, 2240px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-19d502c4 e-flex e-con-boxed e-con e-parent\" data-id=\"19d502c4\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-175f64b5 elementor-widget elementor-widget-text-editor\" data-id=\"175f64b5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1><b>ETF val\u016btas risks: k\u0101 r\u012bkoties<\/b><\/h1><h4><b>ETF, kas ieguld\u012bti \u0101rvalstu v\u0113rtspap\u012bros, pak\u013cauj j\u016bs val\u016btas riskam. MoneyHub izskaidros \u0161o risku un sniegs nor\u0101d\u012bjumus, k\u0101 sevi pasarg\u0101t.<\/b><\/h4><p>ETF \u013cauj jums pieder\u0113t pasaule.<\/p><p>Ar da\u017eiem fondiem j\u016bs varat ieguld\u012bt vis\u0101s liel\u0101kaj\u0101s valst\u012bs un publiski tirgot\u0101s akt\u012bvu klas\u0113s, s\u0101kot no tradicion\u0101laj\u0101m akcij\u0101m l\u012bdz pat prec\u0113m, kas \u013cauj jums izmantot diversifik\u0101cijas priek\u0161roc\u012bbas, palielin\u0101t pe\u013c\u0146u un samazin\u0101t sv\u0101rst\u012bbas.<\/p><p>Maz\u0101k saprotams ir tas, ka \u0101rvalstu ieguld\u012bjumi pak\u013cauj j\u016bs val\u016btas riskam. Nav noz\u012bmes<a href=\"https:\/\/lightyear.com\/en\/funds\/eur-etfs\" target=\"_blank\" rel=\"noopener\">, vai j\u016bs izmantojat ETF<\/a> vai tie\u0161os ieguld\u012bjumus. Pat vislab\u0101k\u0101 v\u0113rt\u012bbas pieauguma vai dividen\u017eu strat\u0113\u0123ija ir mazliet noder\u012bga, ja nelabv\u0113l\u012bgs val\u016btas kurss atce\u013c pe\u013c\u0146u vai pat padara to negat\u012bvu.<\/p><p>Patie\u0161\u0101m, past\u0101v apdro\u0161in\u0101\u0161ana pret val\u016btas kursa sv\u0101rst\u012bb\u0101m, t\u0101 saucamie val\u016btas riska ierobe\u017eotie ETF.<\/p><p>Tom\u0113r vispirms jums j\u0101nov\u0113rt\u0113, cik liel\u0101 m\u0113r\u0101 j\u016bsu ieguld\u012bjums ir atkar\u012bgs no \u0101rvalstu val\u016btu att\u012bst\u012bbas.<\/p><h2><b>Kas ir ETF?<\/b><\/h2><p>ETF jeb bir\u017e\u0101 tirgotie fondi p\u0113d\u0113jos gados ir ieguvu\u0161i iev\u0113rojamu popularit\u0101ti investoru vid\u016b, pateicoties to elast\u012bgumam un diversifik\u0101cijas priek\u0161roc\u012bb\u0101m.<\/p><p>\u0160ie fondi \u013cauj investoriem bir\u017e\u0101 pirkt un p\u0101rdot diversific\u0113tu akt\u012bvu portfeli, tostarp akcijas, oblig\u0101cijas un preces, l\u012bdz\u012bgi k\u0101 atsevi\u0161\u0137as akcijas. Pieaugo\u0161ais piepras\u012bjums p\u0113c ETF var tikt saist\u012bts ar to sp\u0113ju nodro\u0161in\u0101t ekspoz\u012bciju pla\u0161am akt\u012bvu kl\u0101stam, nozar\u0113m un \u0123eogr\u0101fiskajiem re\u0123ioniem, padarot tos par pievilc\u012bgu izv\u0113li investoriem, kuri v\u0113las p\u0101rvald\u012bt savu val\u016btas risku un val\u016btas kursus.<\/p><p>Piem\u0113ram, Igaunijas investori var izmantot ETF, lai ieg\u016btu ekspoz\u012bciju \u0101rvalstu tirgos, piem\u0113ram, ASV dol\u0101ra (USD) vai m\u0101rci\u0146as (GBP) tirgos, un apdro\u0161in\u0101tos pret potenci\u0101lajiem zaud\u0113jumiem, kas saist\u012bti ar val\u016btas sv\u0101rst\u012bb\u0101m.<\/p><h2><b>Kas tie\u0161i ir val\u016btas risks?<\/b><\/h2><p>Val\u016btas risks ir val\u016btas kursu ietekme uz j\u016bsu \u0101rvalstu ieguld\u012bjumiem. Pie\u0146emsim, ka jums pieder ASV akcijas un ASV dol\u0101rs pret eiro v\u0101jin\u0101s par 5 %, bet ASV akciju cenas nemain\u0101s.<\/p><p>Rezult\u0101ts ir \u0161\u0101ds:<\/p><ul><li>J\u016bsu ASV akcijas zaud\u0113 5 % no v\u0113rt\u012bbas, kad to v\u0113rt\u012bba tiek konvert\u0113ta eiro, val\u016bt\u0101, kur\u0101 j\u016bs k\u0101 Igaunijas rezidents<a href=\"https:\/\/staging.moneyhub.ee\/en\/\"> maks\u0101jat r\u0113\u0137inus<\/a>.<\/li><\/ul><p>Val\u016btas risks var b\u016bt ar\u012b j\u016bsu lab\u0101. Ja dol\u0101rs nostiprin\u0101s par 5 % pret eiro (ASV akciju tirgus atkal nemain\u0101s), tad:<\/p><ul><li>J\u016bsu ASV akcijas pieaug par 5 %, kad to v\u0113rt\u012bba tiek konvert\u0113ta eiro.<\/li><\/ul><p>Abos scen\u0101rijos ASV rezidents investors neredz\u0113tu iemeslu saj\u016bsmai. Vi\u0146a pe\u013c\u0146a \u0161aj\u0101 period\u0101 ir 0 %. Bet Igaunijas investors vai nu ieg\u016bst, vai zaud\u0113 5 %, balstoties vien\u012bgi uz dol\u0101ra un eiro val\u016btas kursa sv\u0101rst\u012bb\u0101m.<\/p><p>Tas ir val\u016btas risks.<\/p><h2><b>Val\u016btas kursi rada iesp\u0113jas un riskus ETF investoriem<\/b><\/h2><p>Val\u016btas kursu sv\u0101rst\u012bbas ar\u012b palielina vai samazina \u0101rvalstu v\u0113rtspap\u012bru viet\u0113jo ienes\u012bgumu. Piem\u0113ram, ja ASV akciju tirgus cenas samazin\u0101tos par 5%, bet dol\u0101rs vienlaikus zaud\u0113tu 5% pret eiro, tad Igaunijas investors redz\u0113tu 10% kop\u0113jos zaud\u0113jumus (-5% viet\u0113jais ienes\u012bgums plus -5% dol\u0101ra: eiro ienes\u012bgums).<\/p><p>Ja ASV akciju tirgus b\u016btu pieaudzis par 5 %, tad Igaunijas investors b\u016btu re\u0123istr\u0113jis 0 % ien\u0101kumus \u2013 viet\u0113jie ien\u0101kumi tiek izn\u012bcin\u0101ti nelabv\u0113l\u012bgo val\u016btas kursa sv\u0101rst\u012bbu d\u0113\u013c. Atkal, tas darbojas ar\u012b otr\u0101di. Ja dol\u0101rs b\u016btu nostiprin\u0101jies par 5 % vienlaikus ar ASV akciju tirgus 5 % pieaugumu, tad Igaunijas investors ar pateic\u012bbu pie\u0146emtu 10 % kop\u0113jos ien\u0101kumus.<\/p><p>Ja ASV tirgus zaud\u0113tu 5 %, tad dol\u0101ra stiprin\u0101\u0161an\u0101s kompens\u0113tu Igaunijas investora zaud\u0113jumus, un vi\u0146\u0161 g\u016btu 0 % atdevi. Taj\u0101 pa\u0161\u0101 laik\u0101 ASV investors ciestu 5 % zaud\u0113jumus. Tas pats attiecas uz jebkuru v\u0113rtspap\u012bru, kura cena ir noteikta \u0101rvalstu val\u016bt\u0101. J\u016bsu atdeve ir vien\u0101da ar v\u0113rtspap\u012bra viet\u0113j\u0101s v\u0113rt\u012bbas izmai\u0146\u0101m, pieskaitot vai at\u0146emot val\u016btas kursa izmai\u0146as.<\/p><p>Val\u016btas risks var b\u016btiski ietekm\u0113t \u012bstermi\u0146a rezult\u0101tus.<\/p><p>\u0100rvalstu tirgus var nodro\u0161in\u0101t pien\u0101c\u012bgu gada pe\u013c\u0146u, bet \u0161o pe\u013c\u0146u bie\u017ei vien neitraliz\u0113 eiro kursa stiprin\u0101\u0161an\u0101s. Konkr\u0113tu strat\u0113\u0123iju pe\u013c\u0146u var piln\u012bb\u0101 aiz\u0113not val\u016btas kursa sv\u0101rst\u012bbas, k\u0101 tas redzams <a href=\"https:\/\/lightyear.com\/en-ee\/help\/trading-and-investments\/bonds\" target=\"_blank\" rel=\"noopener\">jaunatt\u012bst\u012bbas tirgu oblig\u0101cij\u0101s<\/a>, kas denomin\u0113tas viet\u0113j\u0101s val\u016bt\u0101s.<\/p><h2><b>ETF val\u016btas risks: vai jums j\u0101baid\u0101s no t\u0101?<\/b><\/h2><p>J\u016bsu neaizsarg\u0101t\u012bba pret val\u016btas kursa sv\u0101rst\u012bb\u0101m palielin\u0101s, ja jums ir nepiecie\u0161ams \u012bstermi\u0146\u0101 p\u0101rdot savus ieguld\u012bjumus. Val\u016btas kursu sv\u0101rst\u012bbas var b\u016bt straujas, k\u0101 to<a href=\"https:\/\/staging.moneyhub.ee\/en\/useful\/articles\/trump-liberation-day-tariffs-global-trade\/\"> par\u0101d\u012bja Trumpa tarifu sekas<\/a>. Volatilit\u0101te ir \u012bpa\u0161i b\u012bstama piespiedu p\u0101rdev\u0113jiem, kuri nevar vienk\u0101r\u0161i to p\u0101rdz\u012bvot, t\u0101p\u0113c j\u016bs var\u0113tu v\u0113l\u0113ties aizsarg\u0101t savu portfeli no val\u016btas riska, ja jums ir regul\u0101ri j\u0101izmanto t\u0101 l\u012bdzek\u013ci.<\/p><p>Ilgtermi\u0146a investoriem ir daudz maz\u0101k iemeslu uztraukties, un vi\u0146i var pat g\u016bt labumu no val\u016btas riska. P\u0113t\u012bjumi liecina, ka<a href=\"https:\/\/www.msci.com\/documents\/10199\/ecc9a964-0c09-4184-8ba7-084382b8074f\" target=\"_blank\" rel=\"noopener\"> val\u016btas kursu sv\u0101rst\u012bbas maz ietekm\u0113 akciju ien\u0101kumus<\/a>, palielinoties laika periodam.<\/p><p>Ekonomisti, kuri atbalsta valstu starp\u0101 pirkuma sp\u0113jas parit\u0101ti, uzskata, ka val\u016btas laika gait\u0101 sasniedz l\u012bdzsvaru un t\u0101d\u0113j\u0101di val\u016btas kursa sv\u0101rst\u012bbas parasti izl\u012bdzin\u0101s. Daudzi koment\u0113t\u0101ji uzskata, ka val\u016btas riska uz\u0146em\u0161an\u0101s nesniedz gaid\u0101mo ienes\u012bgumu, bet tas var samazin\u0101t j\u016bsu akt\u012bvu sv\u0101rst\u012bgumu, samazinot ienes\u012bguma korel\u0101ciju starp \u0101rzemju akt\u012bviem, kas tur\u0113ti da\u017e\u0101d\u0101s val\u016bt\u0101s.<\/p><p>Citiem v\u0101rdiem sakot, glob\u0101l\u0101s akcijas dabiski tend\u0113tas savstarp\u0113ji hed\u017e\u0113t, jo val\u016btu kursa pieaugumu kompens\u0113 to kritums. Tom\u0113r ir svar\u012bgi no\u0161\u0137irt akcijas un valsts oblig\u0101cijas. Akciju b\u016btisk\u0101 sv\u0101rst\u012bgums noz\u012bm\u0113, ka val\u016btas kursa sv\u0101rst\u012bbas ir maz\u0101k noz\u012bm\u012bgas j\u016bsu ilgtermi\u0146a ien\u0101kumiem.<\/p><p>Tom\u0113r val\u016btas risks var nesam\u0113r\u012bgi liel\u0101 m\u0113r\u0101 ietekm\u0113t glob\u0101l\u0101s oblig\u0101cijas ar zemu sv\u0101rst\u012bgumu.<\/p><p>T\u0101p\u0113c investoriem ir lietder\u012bgi ierobe\u017eot val\u016btas risku sav\u0101 oblig\u0101ciju sadal\u012bjum\u0101, ja vi\u0146i v\u0113las, lai \u0161\u012b portfe\u013ca da\u013ca pild\u012btu savu tradicion\u0101lo lomu sv\u0101rst\u012bguma mazin\u0101\u0161an\u0101.<\/p><h3><b>K\u0101da ir j\u016bsu val\u016btas riska pak\u013caut\u012bba?<\/b><\/h3><p>Pirms m\u0113s apskat\u0101m j\u016bsu val\u016btas riska iesp\u0113jas, ir lietder\u012bgi vispirms nov\u0113rt\u0113t j\u016bsu portfe\u013ca kop\u0113jo val\u016btas risku.<a href=\"https:\/\/www.msci.com\/indexes\/index\/990100\" target=\"_blank\" rel=\"noopener\"> MSCI World indekss<\/a> ilustr\u0113, k\u0101 to var apr\u0113\u0137in\u0101t. Indekss atspogu\u013co 23 industrializ\u0113tu valstu akciju tirgus, un t\u0101 ietekme uz val\u016btas risku ir noz\u012bm\u012bga.<\/p><p>Tom\u0113r taj\u0101 domin\u0113 ASV.<\/p><p>Aptuveni divas tre\u0161da\u013cas MSCI World ETF ir ieguld\u012btas ASV akcij\u0101s, un \u0161o akt\u012bvu cena ir noteikta ASV dol\u0101ros. Citiem v\u0101rdiem sakot, Igaunij\u0101 b\u0101z\u0113ta investora MSCI World ETF tur\u0113jums ir 60 % pak\u013cauts eiro un ASV dol\u0101ra val\u016btas kursa sv\u0101rst\u012bb\u0101m. Akcijas, kuru cena ir noteikta m\u0101rci\u0146\u0101s, veido 5,8 % no indeksa, t\u0101tad j\u016bsu kop\u0113jais val\u016btas risks ir 94 %. K\u0101 redzams, 8 % no val\u016btas riska ir pret jenu, bet 0,3 % ir pret Norv\u0113\u0123ijas kronu.<\/p><h2><b>ETF val\u016btas risks: j\u016bsu iesp\u0113jas<\/b><\/h2><p>Val\u016btas risks nav j\u0101uzskata par bin\u0101ru izv\u0113li. Ir vair\u0101ki veidi, k\u0101 j\u016bs varat p\u0101rvald\u012bt savu risku:<\/p><ul><li><b>Izvairieties:<\/b> palieliniet savu akt\u012bvu sadal\u012bjumu sav\u0101 val\u016btas zon\u0101, t. i., ieguldiet eiro denomin\u0113t\u0101s akcij\u0101s, nekustamaj\u0101 \u012bpa\u0161um\u0101 un oblig\u0101cij\u0101s, ja j\u016bs nor\u0113\u0137inaties eiro. Ac\u012bmredzams tr\u016bkums ir tas, ka j\u016bs b\u016bsiet maz\u0101k diversific\u0113ts, jo ignor\u0113siet m\u0101rci\u0146as, jua\u0146as un dol\u0101ru akcijas. Turkl\u0101t dol\u0101ru un m\u0101rci\u0146u denomin\u0113t\u0101s akcijas domin\u0113 glob\u0101las lielas kapit\u0101la sabiedr\u012bbas, kas liel\u0101ko da\u013cu savu ie\u0146\u0113mumu g\u016bst \u0101rzem\u0113s. Piem\u0113ram, aptuveni 75 % no Lielbrit\u0101nijas FTSE 100 uz\u0146\u0113mumu ien\u0101kumiem n\u0101k no \u0101rzem\u0113m, kas noz\u012bm\u0113, ka tie ir ar\u012b \u013coti pak\u013cauti val\u016btas riskam. Kad m\u0101rci\u0146a kr\u012btas, \u0161ie \u0101rzemju ien\u0101kumi ir v\u0113rt\u012bg\u0101ki eiro, kas palielina indeksa galveno dal\u012bbnieku akciju cenas un, savuk\u0101rt, FTSE 100 vai FTSE All-Share ETF.<\/li><\/ul><ul><li><b>Val\u016btas riska ierobe\u017eo\u0161anas ETF:<\/b> \u0160ie produkti ir \u013coti l\u0113ts un vienk\u0101r\u0161s veids, k\u0101 neitraliz\u0113t val\u016btas risku. Val\u016btas riska ierobe\u017eo\u0161anas ETF izmanto finan\u0161u l\u012bgumus, lai kompens\u0113tu val\u016btas kursu ietekmi uz fonda ien\u0101kumiem. Turkl\u0101t riska ierobe\u017eo\u0161ana ir apdro\u0161in\u0101\u0161anas veids, kas kompens\u0113 zaud\u0113jumus, kas rodas no \u0101rvalstu val\u016btas kursa krituma. Diem\u017e\u0113l l\u012bgums ar\u012b atce\u013c jebk\u0101dus ien\u0101kumus, kas rodas no \u0101rvalstu val\u016btas kursa pieauguma. Nevar visu ieg\u016bt. Val\u016btas riska ierobe\u017eo\u0161ana noz\u012bm\u0113, ka j\u016bs g\u016bsit aptuveni t\u0101du pa\u0161u ienes\u012bgumu k\u0101 viet\u0113jais investors (riska ierobe\u017eo\u0161ana ne vienm\u0113r ir perfekta) un val\u016btas risks tiek liel\u0101 m\u0113r\u0101 izsl\u0113gts no vien\u0101dojuma. Lasiet vair\u0101k par priek\u0161roc\u012bb\u0101m un tr\u016bkumiem m\u016bsu rakst\u0101 par val\u016btas riska ierobe\u017eotiem ETF.<\/li><\/ul><ul><li><b>Diversific\u0113jiet:<\/b> sadalot savus akt\u012bvus starp da\u017e\u0101diem akt\u012bviem un tirgiem, j\u016bs samazin\u0101t savu ieguld\u012bjumu risku. Tas pats attiecas uz \u0101rvalstu val\u016bt\u0101m, k\u0101 aprakst\u012bts Interesanti, ka j\u016bs varat g\u016bt labumu ar\u012b no savas ekspoz\u012bcijas pret dro\u0161\u0101m val\u016bt\u0101m, piem\u0113ram, dol\u0101ru un m\u0101rci\u0146u. Dol\u0101rs v\u0113sturiski ir bijis negat\u012bv\u0101 korel\u0101cij\u0101 ar glob\u0101laj\u0101m akciju cen\u0101m. T\u0101 k\u0101 dol\u0101rs ir pasaules rezerves val\u016bta un to k\u0101 v\u0113rt\u012bbas uzkr\u0101jumu izmanto korpor\u0101cijas un \u013coti tur\u012bgi indiv\u012bdi, t\u0101 v\u0113rt\u012bbas pieaugums var pal\u012bdz\u0113t m\u012bkstin\u0101t akciju cenu krituma ietekmi uz investoriem \u0101rpus ASV. J\u016bsu risks main\u0101s ar\u012b tad, ja j\u016bs dz\u012bvojat da\u017e\u0101d\u0101s val\u016btas zon\u0101s. Ja j\u016bs da\u013cu gada dz\u012bvojat Apvienotaj\u0101 Karalist\u0113 un, piem\u0113ram, p\u0101r\u0113jo gada da\u013cu Igaunij\u0101 (vai dom\u0101jat, ka t\u0101 b\u016bs), tad jums vajadz\u0113tu tur\u0113t akt\u012bvus m\u0101rci\u0146\u0101s un eiro, lai var\u0113tu samaks\u0101t r\u0113\u0137inus ab\u0101s valst\u012bs, neuztraucoties par val\u016btas risku. Diversifik\u0101cija ir risin\u0101jums ar\u012b tad, ja j\u016bs baid\u0101ties no eiro ilgtermi\u0146a v\u0113rt\u012bbas samazin\u0101\u0161an\u0101s \u2014 \u0101rzonas akt\u012bvi ir ide\u0101ls aizsardz\u012bbas l\u012bdzeklis pret \u0161\u0101du scen\u0101riju.<\/li><\/ul><ul><li><b>Ilgtermi\u0146a ieguld\u012bjumi<\/b>: Finan\u0161u teorija un pier\u0101d\u012bjumi liecina, ka akciju tirgus ienes\u012bgumu ilgtermi\u0146\u0101 nosaka valsts ekonomisk\u0101 veiktsp\u0113ja. T\u0101p\u0113c m\u016bsu ETF portfe\u013ci pied\u0101v\u0101 ilgtermi\u0146a ieguld\u012bjumu strat\u0113\u0123ijas, kas \u013cauj izmantot glob\u0101l\u0101 IKP pieauguma iesp\u0113jas, nevis m\u0113\u0123in\u0101t bezcer\u012bgi prognoz\u0113t \u012bstermi\u0146a tirgus sv\u0101rst\u012bbas.<\/li><\/ul><ul><li><b>Da\u013c\u0113ja riska ierobe\u017eo\u0161ana<\/b>: J\u016bs, protams, varat ierobe\u017eot da\u013cu val\u016btas riska, bet saglab\u0101t pietiekami daudz, lai g\u016btu da\u017eas priek\u0161roc\u012bbas no val\u016btas diversifik\u0101cijas. Parast\u0101 strat\u0113\u0123ija ilgtermi\u0146a ieguld\u012bt\u0101jam ir pie\u013caut val\u016btas risku akciju da\u013c\u0101, vienlaikus ierobe\u017eojot risku oblig\u0101ciju da\u013c\u0101, vai ieguld\u012bt tikai valsts oblig\u0101cij\u0101s, piem\u0113ram, V\u0101cij\u0101, Apvienotaj\u0101 Karalist\u0113 vai ASV.<\/li><\/ul><h2><b>ETF val\u016btas: izskaidrojot neskaidr\u012bbas<\/b><\/h2><p>Daudzi cilv\u0113ki ir pak\u013cauti val\u016btas riskam, to neapzinoties, jo past\u0101v liela neskaidr\u012bba par val\u016btas apz\u012bm\u0113jumiem, kas tiek piem\u0113roti fondiem, kuri ne vienm\u0113r ir vienk\u0101r\u0161i un kurus var saprast tikai p\u0113c r\u016bp\u012bgas izv\u0113rt\u0113\u0161anas.<\/p><p>Noskaidrosim to:<\/p><h3><b>1. Pamata val\u016bta<\/b><\/h3><p>Vai esat k\u0101dreiz redz\u0113jis pasaules ETF, kur\u0101 teikts, ka t\u0101 val\u016bta ir dol\u0101rs, bet cita versija tam pa\u0161am produktam ir apz\u012bm\u0113ta ar eiro?<\/p><p>Tas nek\u0101di neietekm\u0113 j\u016bsu val\u016btas risku.<\/p><p>Svar\u012bga ir j\u016bsu pak\u013caut\u012bba pamat\u0101 eso\u0161o v\u0113rtspap\u012bru val\u016btai, ar kuru tiek tirgots. Tam ir divas svar\u012bgas sekas. Ja pasaules ETF ir mar\u0137\u0113ts ASV dol\u0101ros (skatiet citus terminus zem\u0101k, lai saprastu, k\u0101p\u0113c t\u0101 notiek), j\u016bsu val\u016btas pak\u013caut\u012bba ASV dol\u0101ram joproj\u0101m ir tikai 60 %. J\u016bsu 8 % jenu risks netiek k\u0101d\u0101 veid\u0101 pastiprin\u0101ts ar\u012b ar dol\u0101ra risku. Igaunijas investors, kas iegulda Jap\u0101nas v\u0113rtspap\u012bros, ir ieinteres\u0113ts tikai jenu un eiro val\u016btas kurs\u0101.<\/p><p>Dol\u0101rs \u0161aj\u0101 vien\u0101dojum\u0101 nav iek\u013cauts. ETF, kas ir denomin\u0113ts m\u0101rci\u0146\u0101s, ar\u012b nepasarg\u0101 j\u016bs no val\u016btas riska, ja vien tas nav \u012bpa\u0161i hed\u017e\u0113ts pret eiro. T\u0101p\u0113c, lai saprastu savu val\u016btas risku, jums ir j\u0101zina, k\u0101d\u0101s val\u016bt\u0101s tiek tirgoti\/cenoti ETF pamat\u0101 eso\u0161ie v\u0113rtspap\u012bri un k\u0101das sekas tas rada j\u016bsu ieguld\u012bjumam.<\/p><h3><b>2. Fonda val\u016bta<\/b><\/h3><p>\u0160is termins ir atbild\u012bgs par lielu da\u013cu neskaidr\u012bbu saist\u012bb\u0101 ar bir\u017e\u0101 tirgotu fondu (ETF) val\u016bt\u0101m.<\/p><p>Bie\u017ei tiek lietoti ar\u012b termini \u201eb\u0101zes val\u016bta\u201d vai \u201edenomin\u0113t\u0101 val\u016bta\u201d.<\/p><p>B\u016btiski, ka \u0161ie termini attiecas uz val\u016btu, kur\u0101 ETF sniedz p\u0101rskatus, nevis oblig\u0101ti uz val\u016bt\u0101m, kur\u0101s tiek tirgotas pamat\u0101 eso\u0161\u0101s v\u0113rtspap\u012bri. ETF sniedz p\u0101rskatus par savu neto akt\u012bvu v\u0113rt\u012bbu (NAV) fonda val\u016bt\u0101 un sadala ien\u0101kumus taj\u0101 pa\u0161\u0101 val\u016bt\u0101. J\u016bsu<a href=\"https:\/\/staging.moneyhub.ee\/en\/speculation\/fx-brokers\/\"> brokeris konvert\u0113s j\u016bsu ien\u0101kumus eiro<\/a>, bet, visticam\u0101k, par to iekas\u0113s val\u016btas kursa maksu.<\/p><p>Fonda val\u016bta parasti ir balst\u012bta uz val\u016btu, kas tiek izmantota pamat\u0101 eso\u0161ajam indeksam, ko nosaka finan\u0161u regul\u0113jumi un k\u0101rt\u012bba. Indeksa val\u016bta parasti ir t\u0101 pati val\u016bta, kur\u0101 tiek tirgotas liel\u0101k\u0101 da\u013ca indeksa v\u0113rtspap\u012bru.<\/p><h3><b>3. Tirdzniec\u012bbas val\u016bta<\/b><\/h3><p>Tirdzniec\u012bbas val\u016bta attiecas uz val\u016btu, kur\u0101 ETF tiek pirkts un p\u0101rdots konkr\u0113t\u0101 starptautisk\u0101 bir\u017e\u0101.<\/p><p>Pasaules ETF vien\u012bbas\/akcijas var tikt tirgotas m\u0101rci\u0146\u0101s, jo t\u0101s ir kot\u0113tas<a href=\"https:\/\/www.londonstockexchange.com\/\" target=\"_blank\" rel=\"noopener\"> Londonas Fondu bir\u017e\u0101 (LSE)<\/a>, bet tas nemaina faktu, ka j\u016bs esat pak\u013cauts pamat\u0101 eso\u0161o v\u0113rtspap\u012bru val\u016btas riskam. Interesanti, ka LSE at\u013cauj tirdzniec\u012bbu vair\u0101k\u0101s val\u016bt\u0101s, t\u0101p\u0113c ir v\u0113rts p\u0101rliecin\u0101ties, ka j\u016bs ieguld\u0101t eiro denomin\u0113t\u0101 versij\u0101, ja t\u0101da ir pieejama, lai izvair\u012btos no papildu val\u016btas mai\u0146as komisijas maksas.<\/p><h3><b>4. Val\u016btas riska ierobe\u017eo\u0161ana<\/b><\/h3><p>Ja esat Igaunijas rezidents un v\u0113laties p\u0113c iesp\u0113jas nov\u0113rst val\u016btas risku vai to iev\u0113rojami samazin\u0101t, jums j\u0101izv\u0113las ETF, kas ir ierobe\u017eoti pret EUR. Atbilsto\u0161ajiem ETF parasti nosaukum\u0101 ir v\u0101rdi \u201eEUR Hedged\u201d, bet, lai p\u0101rliecin\u0101tos, vienm\u0113r p\u0101rbaudiet produkta faktu lapu vai t\u012bmek\u013ca vietni.<\/p><p>Ja ETF nosaukum\u0101 vai dokument\u0101cij\u0101 nevarat atrast nek\u0101du atsauci uz EUR riska ierobe\u017eo\u0161anu, pie\u0146emt, ka risks nav ierobe\u017eots. J\u016bs ar\u012b paman\u012bsiet, ka riska ierobe\u017eotie ETF bie\u017ei vien ir nedaudz d\u0101rg\u0101ki nek\u0101 to neierobe\u017eotie analogi. Tas ir t\u0101p\u0113c, ka riska ierobe\u017eo\u0161ana pati par sevi rada izmaksas.<\/p><h2><b>K\u0101p\u0113c val\u016btas kursi sv\u0101rst\u0101s?<\/b><\/h2><p>Val\u016btas kursi galvenok\u0101rt veidojas no piepras\u012bjuma un pied\u0101v\u0101juma sp\u0113kiem attiec\u012bb\u0101 uz valstu val\u016bt\u0101m. Piem\u0113ram, vado\u0161as eksport\u0113t\u0101jvalsts val\u016bta laika gait\u0101, visticam\u0101k, nostiprin\u0101sies, jo piepras\u012bjums p\u0113c t\u0101s prec\u0113m ir liels, ja visi p\u0101r\u0113jie faktori paliek nemain\u012bgi.<\/p><p>Val\u016btas tirgi ar\u012b ietekm\u0113 val\u016btas kursus.<\/p><p><a href=\"https:\/\/staging.moneyhub.ee\/en\/speculation\/fx-brokers\/\">Val\u016btas tirgot\u0101ji<\/a> \u0101tri r\u012bkojas, lai izmantotu jebk\u0101das arbitr\u0101\u017eas iesp\u0113jas.<\/p><p>Carry trade ir labi paz\u012bstams piem\u0113rs \u2014 tirgot\u0101ji aiz\u0146emas val\u016btu ar zemu procentu likmi un p\u0113rk val\u016btu ar augst\u0101ku procentu likmi. M\u0113r\u0137is ir g\u016bt pe\u013c\u0146u no procentu likmju starp\u012bbas. Tom\u0113r arbitr\u0101\u017eas iesp\u0113jas parasti ir \u012bslaic\u012bgas un saist\u012btas ar augstu risku, jo val\u016btas kursi main\u0101s, lai atjaunotu tirgus l\u012bdzsvaru starp val\u016btu p\u0101riem.<\/p><p>Protams, centr\u0101l\u0101s bankas ietekm\u0113 savas valsts val\u016btas v\u0113rt\u012bbu ar monet\u0101ro politiku. To var redz\u0113t, k\u0101 valstis atg\u016bstas no glob\u0101l\u0101s finan\u0161u kr\u012bzes ar at\u0161\u0137ir\u012bgu \u0101trumu. ASV izveda att\u012bst\u012bt\u0101s ekonomikas no kr\u012bzes un sp\u0113ja paaugstin\u0101t procentu likmes \u0101tr\u0101k nek\u0101 Anglijas Banka vai Eiropas Centr\u0101l\u0101 banka.<\/p><p>T\u0101p\u0113c ASV dol\u0101rs p\u0113d\u0113jos gados ir nostiprin\u0101jies pret eiro, kas ir izdev\u012bgi eirozonas investoriem, kuriem pieder noz\u012bm\u012bgi ASV akt\u012bvi. Citas valstis ir paz\u012bstamas ar to, ka t\u0101s akt\u012bv\u0101k ietekm\u0113 savu val\u016btas kursu. Piem\u0113ram, tiek uzskat\u012bts, ka \u0136\u012bna kontrol\u0113 jua\u0146as kursa pieaugumu, lai saglab\u0101tu savas eksporta nozares konkur\u0113tsp\u0113ju.<\/p><p>Da\u017eas valstis var piesaist\u012bt savas val\u016btas v\u0113rt\u012bbu pie sp\u0113c\u012bg\u0101kas val\u016btas, un \u0161\u0101d\u0101 gad\u012bjum\u0101 nav val\u016btas riska, kam\u0113r piesaist\u012b\u0161ana ir sp\u0113k\u0101.<\/p><p>Daudzas <a href=\"https:\/\/en.wikipedia.org\/wiki\/Emerging_market#:~:text=The%2010%20Big%20Emerging%20Markets,are%20other%20major%20emerging%20markets.\" target=\"_blank\" rel=\"noopener\">jaunatt\u012bst\u012bbas valstu ekonomikas<\/a> ar\u012b uzskata, ka ir viegl\u0101k piesaist\u012bt finans\u0113jumu, ja t\u0101s emit\u0113 oblig\u0101cijas ASV dol\u0101ros. Tas var izrais\u012bt lielas ekonomiskas sv\u0101rst\u012bbas, ja valsts par\u0101da slogs strauji pieaug, jo t\u0101s val\u016bta tad zaud\u0113 v\u0113rt\u012bbu pret dol\u0101ru, un \u0101rvalstu ien\u0101kumi nesp\u0113j to kompens\u0113t.<\/p><p><a href=\"https:\/\/www.cfr.org\/backgrounder\/argentinas-struggle-stability\" target=\"_blank\" rel=\"noopener\">Argent\u012bna ir izcila br\u012bdin\u0101juma piem\u0113rs<\/a> \u0161aj\u0101 jom\u0101.<\/p><h2><b>Val\u016btas mai\u0146as apsv\u0113rumi<\/b><\/h2><p>Veicot val\u016btas mai\u0146u ETF ieguld\u012bjumos, ir j\u0101\u0146em v\u0113r\u0101 vair\u0101ki b\u016btiski faktori. Pirmk\u0101rt, ieguld\u012bt\u0101jiem j\u0101apzin\u0101s pa\u0161reiz\u0113jie val\u016btas kursi un to, k\u0101 tie var ietekm\u0113t vi\u0146u ieguld\u012bjumu v\u0113rt\u012bbu.<\/p><p>Ir ar\u012b svar\u012bgi izprast ar val\u016btas mai\u0146u saist\u012bt\u0101s komisijas maksas, jo t\u0101s var samazin\u0101t ieguld\u012bjumu ienes\u012bgumu.<\/p><p>Turkl\u0101t ieguld\u012bt\u0101jiem j\u0101\u0146em v\u0113r\u0101 val\u016btas tirgus likvidit\u0101te un tirgus sv\u0101rst\u012bbu iesp\u0113jam\u012bba, kas var ietekm\u0113t val\u016btas kursus un ieguld\u012bjumu v\u0113rt\u012bbu. Piem\u0113ram, pie\u0146emsim, ka investors iegulda ETF, kas atspogu\u013co ASV akciju tirgus sniegumu. \u0160\u0101d\u0101 gad\u012bjum\u0101 vi\u0146am j\u0101apzin\u0101s ASV dol\u0101ra un viet\u0113j\u0101s val\u016btas val\u016btas kurss, k\u0101 ar\u012b jebk\u0101di potenci\u0101lie riski, kas saist\u012bti ar val\u016btas sv\u0101rst\u012bb\u0101m.<\/p><p>R\u016bp\u012bgi apsverot \u0161os faktorus un izmantojot t\u0101dus pa\u0146\u0113mienus k\u0101 val\u016btas riska ierobe\u017eo\u0161ana vai diversifik\u0101cija, investori var efekt\u012bvi p\u0101rvald\u012bt savu val\u016btas risku un val\u016btas kursa ietekmi, galu gal\u0101 sasniedzot savus ieguld\u012bjumu m\u0113r\u0137us.<\/p><p>Galvenais secin\u0101jums ir atz\u012bt, ka val\u016btas tirgi ir vieni no visefekt\u012bv\u0101kajiem un konkur\u0113tsp\u0113j\u012bg\u0101kajiem pasaul\u0113, pied\u0101v\u0101jot investoriem pla\u0161u ETF kl\u0101stu, no kuriem izv\u0113l\u0113ties liel\u0101kaj\u0101s glob\u0101laj\u0101s bir\u017e\u0101s. Mazajiem investoriem tr\u016bkst gan \u0101truma, gan inform\u0101cijas, kas nepiecie\u0161ama, lai ilgsto\u0161i g\u016btu pan\u0101kumus \u0161aj\u0101 jom\u0101.<\/p><p>T\u0101p\u0113c vislab\u0101k ir pie\u0146emt val\u016btas riska poz\u012bciju strat\u0113\u0123isk\u0101 l\u012bmen\u012b, kas atbilst j\u016bsu ilgtermi\u0146a m\u0113r\u0137iem.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-adf47ca e-flex e-con-boxed e-con e-child\" data-id=\"adf47ca\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>ETF, kas ieguld\u012bti \u0101rvalstu v\u0113rtspap\u012bros, pak\u013cauj J\u016bs val\u016btas riskam. M\u0113s izskaidrojam ETF val\u016btas risku un to, k\u0101 J\u016bs varat sevi pasarg\u0101t.<\/p>\n","protected":false},"author":3,"featured_media":22273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[76],"tags":[],"class_list":["post-22272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-raksti"],"acf":[],"blog_post_layout_featured_media_urls":{"thumbnail":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-150x150.png",150,150,true],"full":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it.png",2240,1260,false]},"categories_names":{"76":{"name":"Raksti","link":"https:\/\/staging.moneyhub.ee\/lv\/category\/useful-info\/raksti\/"}},"tags_names":[],"comments_number":"0","rttpg_featured_image_url":{"full":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it.png",2240,1260,false],"landscape":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it.png",2240,1260,false],"portraits":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it.png",2240,1260,false],"thumbnail":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-150x150.png",150,150,true],"medium":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-300x169.png",300,169,true],"large":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-1024x576.png",800,450,true],"1536x1536":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-1536x864.png",1536,864,true],"2048x2048":["https:\/\/staging.moneyhub.ee\/wp-content\/uploads\/2025\/05\/ETF-currency-risk-How-to-handle-it-2048x1152.png",2048,1152,true]},"rttpg_author":{"display_name":"David Bailey","author_link":"https:\/\/staging.moneyhub.ee\/lv\/author\/davidbailey\/"},"rttpg_comment":0,"rttpg_category":"<a href=\"https:\/\/staging.moneyhub.ee\/lv\/category\/useful-info\/raksti\/\" rel=\"category tag\">Raksti<\/a>","rttpg_excerpt":"ETF, kas ieguld\u012bti \u0101rvalstu v\u0113rtspap\u012bros, pak\u013cauj J\u016bs val\u016btas riskam. M\u0113s izskaidrojam ETF val\u016btas risku un to, k\u0101 J\u016bs varat sevi pasarg\u0101t.","_links":{"self":[{"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/posts\/22272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/comments?post=22272"}],"version-history":[{"count":4,"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/posts\/22272\/revisions"}],"predecessor-version":[{"id":22277,"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/posts\/22272\/revisions\/22277"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/media\/22273"}],"wp:attachment":[{"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/media?parent=22272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/categories?post=22272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.moneyhub.ee\/lv\/wp-json\/wp\/v2\/tags?post=22272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}