{"id":126937,"date":"2026-06-23T10:48:06","date_gmt":"2026-06-23T10:48:06","guid":{"rendered":"https:\/\/www.europesays.com\/cz\/126937\/"},"modified":"2026-06-23T10:48:06","modified_gmt":"2026-06-23T10:48:06","slug":"blizi-se-revoluce-na-prazske-burze-investorum-se-jeste-letos-muze-dostat-do-ruky-vymodleny-nastroj","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/cz\/126937\/","title":{"rendered":"Bl\u00ed\u017e\u00ed se revoluce na pra\u017esk\u00e9 burze? Investor\u016fm se je\u0161t\u011b letos m\u016f\u017ee dostat do ruky vymodlen\u00fd n\u00e1stroj"},"content":{"rendered":"

Investo\u0159i na pra\u017esk\u00e9 burze<\/a> by se je\u0161t\u011b do konce leto\u0161n\u00edho roku mohli do\u010dkat z\u00e1sadn\u00ed inovace, na kterou u\u017e dlouh\u00e1 l\u00e9ta marn\u011b \u010dekali. Konkr\u00e9tn\u011b na vznik nov\u00e9ho ve\u0159ejn\u011b obchodovan\u00e9ho fondu ETF nav\u00e1zan\u00e9ho na index pra\u017esk\u00e9 burzy<\/a> PX. P\u0159\u00edchod obl\u00edben\u00e9ho n\u00e1stroje investor\u016fm usnadn\u00ed obchodov\u00e1n\u00ed s dom\u00e1c\u00edmi akciemi, podle expert\u016f ale nikterak nevy\u0159e\u0161\u00ed st\u011b\u017eejn\u00ed probl\u00e9my tuzemsk\u00e9ho akciov\u00e9ho trhu – slabou obchodn\u00ed aktivitu a naopak siln\u00e9 politick\u00e9 riziko skrze dominantn\u00ed dom\u00e1c\u00ed akciovou emisi.<\/p>\n

\u201eTla\u010dil jsem v posledn\u00edch n\u011bkolika letech na skupiny, kter\u00e9 by mohly ETF na index PX vyprodukovat. Debata postoupila do st\u00e1dia, kdy v\u011b\u0159\u00edm, \u017ee do podzimu se to poda\u0159\u00ed dot\u00e1hnout,\u201c uvedl \u0161\u00e9f pra\u017esk\u00e9 burzy Petr Koblic. Pra\u017esk\u00fd index PX<\/a> v minulosti zaost\u00e1val za v\u00fdkonem velk\u00fdch trh\u016f, v posledn\u00edch letech se ale jeho v\u00fdkonnost podstatn\u011b zlep\u0161ila. Dom\u00e1c\u00ed index oslnil zejm\u00e9na v lo\u0148sk\u00e9m roce, kdy portfolio nam\u00edchan\u00e9 z dom\u00e1c\u00edch akci\u00ed podle struktury vah indexu PX vyd\u011blalo investor\u016fm kolem t\u0159iapades\u00e1t procent.<\/p>\n

Loni Praha zesm\u011b\u0161nila Wall Street<\/p>\n

V lo\u0148sk\u00e9m roce tak nap\u0159\u00edklad Praha zhruba trojn\u00e1sobn\u011b p\u0159ekonala americk\u00fd akciov\u00fd index S&P 500. Letos je nicm\u00e9n\u011b situace p\u0159esn\u011b opa\u010dn\u00e1. Zat\u00edmco kl\u00ed\u010dov\u00fd index na Wall Street posiluje o v\u00edce ne\u017e dev\u011bt procent, jeho tuzemsk\u00fd prot\u011bj\u0161ek aktu\u00e1ln\u011b od po\u010d\u00e1tku roku prod\u011bl\u00e1v\u00e1 necel\u00e1 \u010dty\u0159i procenta, za posledn\u00ed rok pak nicm\u00e9n\u011b zhodnotil zhruba o p\u011btinu. Neexistence \u00e9t\u00e9efka byla doposud pro n\u011bkter\u00e9 z investor\u016f jedn\u00edm z hlavn\u00edch d\u016fvod\u016f, pro\u010d dom\u00e1c\u00ed trh obej\u00edt obloukem. Automatick\u00fdm l\u00e9kem na v\u00fdnos ale nebude.<\/p>\n

\u201eZ\u00e1jem investor\u016f o ETF na pra\u017esk\u00e9 akcie na trhu je, jeliko\u017e by to mnoha investor\u016fm usnadnilo n\u00e1kup portfolia \u010desk\u00fdch akci\u00ed. Ale d\u016fle\u017eit\u00e9 budou jeho konkr\u00e9tn\u00ed parametry, jako jsou n\u00e1kladovost a likvidita na trhu,\u201c uv\u00e1d\u00ed ekonom spole\u010dnosti Finlord Boris Tom\u010diak. Aby byl nov\u00fd n\u00e1stroj atraktivn\u00ed pro dlouhodob\u00e9 investory, m\u011bla by podle n\u011bho b\u00fdt ro\u010dn\u00ed n\u00e1kladovost takov\u00e9ho fondu pod p\u016fl procenta.<\/p>\n

ETF na index PX bude podle expert\u016f zaj\u00edmav\u00e9 p\u0159edev\u0161\u00edm pro konzervativn\u011bj\u0161\u00ed a dividendov\u011b orientovan\u00e9 investory. \u201e\u010cesk\u00e9 akcie dlouhodob\u011b pat\u0159\u00ed v evropsk\u00e9m m\u011b\u0159\u00edtku mezi tituly s nadpr\u016fm\u011brn\u00fdm dividendov\u00fdm v\u00fdnosem a pr\u00e1v\u011b pravideln\u00fd p\u0159\u00edjem z dividend je jedn\u00edm z hlavn\u00edch d\u016fvod\u016f, pro\u010d se o dom\u00e1c\u00ed trh investo\u0159i zaj\u00edmaj\u00ed,\u201c zd\u016fraz\u0148uje analytik Purple Trading Petr Lajsek. V prost\u0159ed\u00ed p\u0159etrv\u00e1vaj\u00edc\u00ed geopolitick\u00e9 nejistoty a kol\u00edsaj\u00edc\u00edch \u00farokov\u00fdch sazeb m\u016f\u017ee b\u00fdt kombinace tradi\u010dn\u00edch odv\u011btv\u00ed, jako jsou banky, energetika a obrann\u00fd sektor podle n\u011bho pro \u0159adu investor\u016f atraktivn\u011bj\u0161\u00ed ne\u017e vysoce ocen\u011bn\u00e9 technologick\u00e9 akcie.<\/p>\n

L\u00e1kadlo pro mlad\u00e9<\/p>\n

Analytici se shoduj\u00ed, \u017ee index PX nen\u00ed zrovna ani diverzifika\u010dn\u00ed sp\u00e1sou, ani s\u00e1zkou na re\u00e1lnou strukturu dom\u00e1c\u00ed ekonomiky. V\u00fdvoj indexu je dlouhodob\u011b z\u00e1visl\u00fd jen na n\u011bkolika m\u00e1lo spole\u010dnostech, p\u0159i\u010dem\u017e dominantn\u00ed roli hraj\u00ed energetick\u00fd \u010cEZ a bankovn\u00ed tituly. Investice do ETF by tak p\u0159edstavovala koncentrovanou expozici na n\u011bkolik nejv\u011bt\u0161\u00edch firem, z nich\u017e \u010d\u00e1st m\u00e1 nav\u00edc zahrani\u010dn\u00ed majitele. \u201eTo m\u016f\u017ee b\u00fdt v\u00fdhodou v obdob\u00edch, kdy se finan\u010dn\u00edmu sektoru da\u0159\u00ed, ale z\u00e1rove\u0148 to zvy\u0161uje citlivost na probl\u00e9my jednotliv\u00fdch emitent\u016f,\u201c dod\u00e1v\u00e1 Lajsek.\u00a0<\/p>\n

Specifickou kapitolu pak p\u0159edstavuje \u010cEZ. Debata o mo\u017en\u00e9m \u00fapln\u00e9m p\u0159evzet\u00ed firmy st\u00e1tem se sice v posledn\u00edch m\u011bs\u00edc\u00edch uklidnila, pro investory do fondu ETF bude ale p\u0159edstavovat intenzivn\u00ed st\u0159edn\u011bdob\u00fd faktor zvy\u0161uj\u00edc\u00ed riziko \u010desk\u00e9ho trhu. Sv\u00e9 publikum si ale nov\u00e9 \u00e9t\u00e9efko najde.\u00a0<\/p>\n

\u201eNov\u00ed \u010di mlad\u0161\u00ed investo\u0159i jsou p\u0159esv\u011bd\u010deni, \u017ee pasivn\u00ed investov\u00e1n\u00ed je v\u017edy efektivn\u011bj\u0161\u00ed a v\u00fdnosn\u011bj\u0161\u00ed ne\u017e aktivn\u00ed spr\u00e1va. Po\u010d\u00edt\u00e1m tedy, \u017ee tito investo\u0159i si tento n\u00e1stroj obl\u00edb\u00ed a objemy budou postupn\u011b nar\u016fstat,\u201c soud\u00ed analytik Capitalinked Radim Dohnal s t\u00edm, \u017ee atraktivitu n\u00e1stroje mezi dom\u00e1c\u00edmi investory podpo\u0159\u00ed i p\u0159edpokl\u00e1dateln\u00e9 obchodov\u00e1n\u00ed n\u00e1stroje v korun\u00e1ch. \u201eVedle dom\u00e1c\u00edch investor\u016f by spu\u0161t\u011bn\u00ed ETF mohlo zv\u00fd\u0161it i viditelnost pra\u017esk\u00e9 burzy v zahrani\u010d\u00ed. Pro \u0159adu institucion\u00e1ln\u00edch investor\u016f je pr\u00e1v\u011b existence burzovn\u011b obchodovan\u00e9ho fondu z\u00e1kladn\u00ed podm\u00ednkou pro vstup na men\u0161\u00ed region\u00e1ln\u00ed trhy,\u201c dod\u00e1v\u00e1 Lajsek.\u00a0<\/p>\n

Spu\u0161t\u011bn\u00ed \u00e9t\u00e9efka, kter\u00e9 by dok\u00e1zalo generovat siln\u011bj\u0161\u00ed objemy obchod\u016f, m\u016f\u017ee podle expert\u016f p\u0159edstavovat miln\u00edk na pra\u017esk\u00e9 burze a v\u00fdznamn\u00fd krok k o\u017eiven\u00ed \u010desk\u00e9ho kapit\u00e1lov\u00e9ho trhu. Ten se dlouhodob\u011b pot\u00fdk\u00e1 s n\u00edzk\u00fdm po\u010dtem nov\u00fdch emis\u00ed i omezen\u00fdm z\u00e1jmem zahrani\u010dn\u00edho kapit\u00e1lu.<\/p>\n","protected":false},"excerpt":{"rendered":"Investo\u0159i na pra\u017esk\u00e9 burze by se je\u0161t\u011b do konce leto\u0161n\u00edho roku mohli do\u010dkat z\u00e1sadn\u00ed inovace, na kterou u\u017e…\n","protected":false},"author":2,"featured_media":126938,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[30],"tags":[412,623,704,702,1099,98,99,3153],"class_list":["post-126937","post","type-post","status-publish","format-standard","has-post-thumbnail","category-praha","tag-akcie","tag-burza","tag-burza-cennych-papiru-praha","tag-cez","tag-investor","tag-prague","tag-praha","tag-revoluce"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116799032891933206","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/126937","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=126937"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/126937\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/126938"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=126937"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=126937"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=126937"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}