{"id":2956,"date":"2022-01-16T19:40:24","date_gmt":"2022-01-16T18:40:24","guid":{"rendered":"https:\/\/www.forexsrovnavac.cz\/mag\/?page_id=2956"},"modified":"2024-06-16T14:06:24","modified_gmt":"2024-06-16T12:06:24","slug":"co-jsou-to-etf-vyhody-a-nevyhody-investovani-do-etf","status":"publish","type":"page","link":"https:\/\/www.forexsrovnavac.cz\/mag\/co-jsou-to-etf-vyhody-a-nevyhody-investovani-do-etf\/","title":{"rendered":"ETF &#8211; Burzovn\u011b obchodovan\u00e9 fondy"},"content":{"rendered":"<p>ETF jsou obl\u00edbenou alternativou k pod\u00edlov\u00fdm fond\u016fm, proto\u017ee rozlo\u017e\u00ed riziko, zat\u00edmco investice do nich je tak snadn\u00e1 jako n\u00e1kup jednotliv\u00fdch akci\u00ed. Maj\u00ed vysokou likviditu a n\u00edzk\u00e9 transak\u010dn\u00ed poplatky. Lze do nich investovat bu\u010f jednor\u00e1zov\u011b, nebo pravideln\u011b, co\u017e se naz\u00fdv\u00e1 strategi\u00ed pr\u016fm\u011brov\u00e1n\u00ed n\u00e1klad\u016f (DCA). ETF jsou emitov\u00e1ny hlavn\u011b velk\u00fdmi spole\u010dnostmi, kter\u00e9 zaji\u0161\u0165uj\u00ed jejich likviditu. Tyto fondy jsou navr\u017eeny pro investory, kte\u0159\u00ed tou\u017e\u00ed sn\u00ed\u017eit riziko spojen\u00e9 s investicemi do jednotliv\u00fdch akci\u00ed, ale z\u00e1rove\u0148 cht\u011bj\u00ed dos\u00e1hnout vy\u0161\u0161\u00edch v\u00fdnos\u016f ne\u017e u tradi\u010dn\u00edch bankovn\u00edch produkt\u016f.<\/p>\n<p>Tyto fondy obvykle sleduj\u00ed v\u00fdvoj sv\u00e9ho z\u00e1kladn\u00edho aktiva, jako jsou sv\u011btov\u00e9 akciov\u00e9 indexy, a jsou vyd\u00e1v\u00e1ny velk\u00fdmi bankami a investi\u010dn\u00edmi spole\u010dnostmi, nap\u0159\u00edklad Barclays Global Investors, State Street Global Advisors, Invesco PowerShares, LyxorBarclays, iShares, Proshares, ETF Securities a dal\u0161\u00ed. Existuj\u00ed r\u016fzn\u00e9 typy ETF, co\u017e umo\u017e\u0148uje investor\u016fm spekulovat na ceny nejen akci\u00ed, ale i komodit, m\u011bn, nebo v\u00fdvoj \u00farokov\u00fdch sazeb mezibankovn\u00edho trhu. Pro investice do ETF nen\u00ed pot\u0159eba vysok\u00fd po\u010d\u00e1te\u010dn\u00ed kapit\u00e1l, za\u010d\u00edt lze od p\u00e1r stovek m\u011bs\u00ed\u010dn\u011b.<\/p>\n<h2>Co je ETF?<\/h2>\n<p>V p\u0159ekladu burzovn\u011b obchodovan\u00fd fond <strong>(Exchange Traded Fund)<\/strong>, pro kter\u00fd se pou\u017e\u00edv\u00e1 tak\u00e9 v\u00fdraz\u00a0<strong>indexov\u00e1 akcie, ko\u0161 akci\u00ed, nebo indexov\u00fd deriv\u00e1t<\/strong>. Jde o cenn\u00fd pap\u00edr, kter\u00fd p\u0159edstavuje portfoliovou investici do skupiny vybran\u00fdch, obvykle kl\u00ed\u010dov\u00fdch akciov\u00fdch titul\u016f, kter\u00e9 vykazuj\u00ed n\u011bjakou spole\u010dnou charakteristiku (nap\u0159. p\u0159\u00edslu\u0161nost k akciov\u00e9mu indexu, sektoru nebo regionu). Velice zjednodu\u0161en\u011b lze \u0159\u00edci, \u017ee je to \u201eakcie slo\u017een\u00e1 z jin\u00fdch akci\u00ed\u201c.<\/p>\n<p>Prost\u0159ednictv\u00edm ETF lze snadno spekulovat nejen na r\u016fst, ale i na pokles podkladov\u00e9ho aktiva prost\u0159ednictv\u00edm klasick\u00e9ho n\u00e1kupu instrumentu, kter\u00fd se zhodnocuje s poklesem hodnoty podkladov\u00e9ho aktiva (SHORT ETF).<\/p>\n<p><strong>Jak\u00e1 ETF existuj\u00ed?<\/strong><\/p>\n<ul>\n<li><strong>Indexov\u00e9 ETF<\/strong> &#8211; N\u00e1sleduj\u00ed akciov\u00e9 indexy jako S&amp;P 500 nebo Nasdaq a dal\u0161\u00ed. M\u016f\u017eete si tedy vybrat, jestli nakoup\u00edte mezin\u00e1rodn\u00ed indexov\u00e9 ETF, nebo \u010dist\u011b Evropsk\u00e9 indexy atd.<\/li>\n<li><strong>Komoditn\u00ed ETF<\/strong> &#8211; Umo\u017en\u00ed v\u00e1m investovat do drah\u00fdch kov\u016f, bavlny nebo ropy.<\/li>\n<li><strong>Dluhopisov\u00e9 ETF<\/strong> &#8211; Tyto ETF jsou zam\u011b\u0159en\u00fd na r\u016fzn\u00e9 bal\u00edky dluhopis\u016f<\/li>\n<li><strong>Sektorov\u00e9 ETF<\/strong> &#8211; P\u0159in\u00e1\u0161\u00ed mo\u017enost investovat do jednotliv\u00fdch sektor\u016f, jako nap\u0159\u00edklad biotechnologie, automobilov\u00fd pr\u016fmysl, spot\u0159ebn\u00ed zbo\u017e\u00ed apod.<\/li>\n<\/ul>\n<p><strong>V\u00fdhody ETF<\/strong><\/p>\n<ul>\n<li><strong>N\u00edzk\u00e1 n\u00e1kladovost<\/strong> &#8211; Vysok\u00e9 poplatky u b\u011b\u017en\u00fdch investi\u010dn\u00edch n\u00e1stroj\u016f jsou \u010dasto d\u016fvodem ztr\u00e1tovosti mal\u00fdch investor\u016f. U ETF se n\u00e1kladovost pohybuje od 0.02 % ro\u010dn\u011b (Vanguard). Pokud to srovn\u00e1me nap\u0159\u00edklad s aktivn\u011b spravovan\u00fdmi pod\u00edlov\u00fdmi fondy, kde se n\u00e1kladovost pohybuje i p\u0159es 2 % ro\u010dn\u011b, vyjde ETF jako v\u00edt\u011bz.<\/li>\n<li><strong>\u0160irok\u00e1 diverzifikace<\/strong> &#8211; ETF \u010dasto n\u00e1sleduj\u00ed akciov\u00e9 indexy, kter\u00e9 zahrnuj\u00ed i stovky akciov\u00fdch titul\u016f (nap\u0159\u00edklad S&amp;P 500, DIA \u010di NASDAQ) nebo bal\u00edky dluhopis\u016f, komodit apod. Diverzifikace je ozna\u010dov\u00e1na za synonymum bezpe\u010d\u00ed. D\u00edky n\u00ed nedoch\u00e1z\u00ed k vysok\u00e9 volatilit\u011b, tedy v\u00fdkyv\u016fm na trhu.<\/li>\n<\/ul>\n<p><strong>Nev\u00fdhody ETF<\/strong><\/p>\n<ul>\n<li>Investov\u00e1n\u00ed n\u00edzk\u00fdch \u010d\u00e1stek se mnohdy nevyplat\u00ed, kv\u016fli poplatk\u016fm<\/li>\n<li>Jsou zam\u011b\u0159eny hlavn\u011b na akciov\u00e9 indexy, omezen\u00e1 nab\u00eddka<\/li>\n<\/ul>\n<p>S ETF m\u016f\u017eete obchodovat pomoc\u00ed r\u016fzn\u00fdch broker\u016f. V sou\u010dasn\u00e9 dob\u011b lze vyu\u017e\u00edt k obchodov\u00e1n\u00ed \u010desk\u00e9 brokery, u kter\u00fdch z\u00edsk\u00e1te podporu pro va\u0161e investov\u00e1n\u00ed a v p\u0159\u00edpad\u011b pot\u0159eby i u\u017eite\u010dn\u00e9 rady. Jsou vhodn\u00e9 zejm\u00e9na pro za\u010d\u00ednaj\u00edc\u00ed investory. V nab\u00eddce dan\u00fdch broker\u016f pak naleznete zm\u00edn\u011bn\u00e9 ETF.<\/p>\n<ul>\n<li>D\u00edky t\u011bmto v\u00fdjime\u010dn\u00fdm vlastnostem a v\u00fdhod\u00e1m si burzovn\u011b obchodovan\u00e9 fondy v posledn\u00ed dob\u011b z\u00edskaly velkou oblibu a staly se jedn\u00edm z nejflexibiln\u011bj\u0161\u00edch a nejv\u0161estrann\u011bj\u0161\u00edch investi\u010dn\u00edch n\u00e1stroj\u016f.<\/li>\n<\/ul>\n<ul>\n<li>Od doby, kdy americk\u00e1 burza prosadila a stala se pr\u016fkopn\u00edkem konceptu obchodovateln\u00e9ho ko\u0161e akci\u00ed vytvo\u0159en\u00edm depozitn\u00edho certifik\u00e1tu Standard &amp; Poor&#8217;s (SPDR) v roce 1993, se burzovn\u011b obchodovan\u00e9 fondy vyvinuly ve zcela novou investi\u010dn\u00ed kategorii.<\/li>\n<\/ul>\n<ul>\n<li>Dnes po\u010det ETF k\u00f3tovan\u00fdch a obchodovan\u00fdch na burze Amex nad\u00e1le roste &#8211; nejen co do po\u010dtu produkt\u016f a jejich rozmanitosti, ale tak\u00e9 co do objemu aktiv a tr\u017en\u00ed hodnoty.<\/li>\n<\/ul>\n<h2>Jak funguj\u00ed ETF?<\/h2>\n<p>ETF jsou relativn\u011b nov\u00fdm investi\u010dn\u00edm n\u00e1strojem. Jejich popularita roste, proto\u017ee investov\u00e1n\u00ed do fond\u016f prost\u0159ednictv\u00edm burzy je efektivn\u011bj\u0161\u00ed, ne\u017e zprost\u0159edkov\u00e1n\u00ed bankou. Investo\u0159i mohou sn\u00e1ze a rychleji m\u011bnit sv\u00e9 investice do fond\u016f a plat\u00ed p\u0159itom ni\u017e\u0161\u00ed poplatky v porovn\u00e1n\u00ed s b\u011b\u017en\u00fdmi fondy.<\/p>\n<p>Pod\u00edlov\u00e9 fondy byly tradi\u010dn\u011b ur\u010den\u00e9 pro dlouhodob\u00e9 investory.\u00a0<strong>S p\u0159\u00edchodem ETF<\/strong> v\u0161ak vznikla mo\u017enost aktivn\u00edho obchodov\u00e1n\u00ed s fondy, tedy vyd\u011bl\u00e1v\u00e1n\u00ed na mal\u00fdch n\u00e1r\u016fstech t\u0159eba jen v desetin\u00e1ch procenta, ale za n\u011bkolik hodin nebo dn\u00ed. Nam\u00edsto aktivn\u00edho \u0159\u00edzen\u00ed fondu drah\u00fdmi mana\u017eery prob\u00edhaj\u00ed investice ETF podle p\u0159esn\u00e9ho algoritmu. T\u00edm algoritmem je index (l\u00e9pe \u0159e\u010deno p\u0159esn\u00e9 kop\u00edrov\u00e1n\u00ed slo\u017een\u00ed vybran\u00e9ho indexu podle zn\u00e1m\u00e9ho slo\u017een\u00ed aktiv indexu).<\/p>\n<p><strong>Spr\u00e1va ETF<\/strong> se t\u00edm redukuje na to, \u017ee kdy\u017e se jednou za del\u0161\u00ed dobu zm\u011bn\u00ed slo\u017een\u00ed indexu, stejn\u00e9 \u00fapravy je pot\u0159eba ud\u011blat v portfoliu ETF, a kdy\u017e se jednou za \u010das navy\u0161uje nebo sni\u017euje objem ETF, je t\u0159eba proporcion\u00e1ln\u011b upravit pozice tak, aby nad\u00e1le kop\u00edrovaly slo\u017een\u00ed indexu. Statistiky p\u0159itom ukazuj\u00ed, \u017ee jen velmi mal\u00e1 \u010d\u00e1st aktivn\u011b \u0159\u00edzen\u00fdch fond\u016f (10 \u2013 25% podle r\u016fzn\u00fdch pramen\u016f) dok\u00e1\u017ee trvale p\u0159ekon\u00e1vat index.<\/p>\n<p><strong>ETF pasivn\u011b kop\u00edruj\u00ed index<\/strong>, tak\u017ee spr\u00e1vce ETF t\u011b\u017eko m\u016f\u017ee n\u011bco pokazit nebo n\u011b\u010d\u00edm vyniknout. A ve\u0161ker\u00e9 poplatky jsou u ETF natolik n\u00edzk\u00e9, \u017ee v n\u00e1vratnosti pro investora je toto krit\u00e9rium zanedbateln\u00e9.\u00a0Jin\u00fdmi slovy, dlouhodob\u011b v pr\u016fm\u011bru ETF p\u0159inesou sv\u00fdm investor\u016fm\u00a0<strong>vy\u0161\u0161\u00ed zhodnocen\u00ed<\/strong>\u00a0a stoj\u00ed je p\u0159itom na poplatc\u00edch mnohem m\u00e9n\u011b, ne\u017e b\u011b\u017en\u00e9 fondy. ETF rovn\u011b\u017e pravideln\u011b vypl\u00e1cej\u00ed investor\u016fm dividendy spole\u010dnost\u00ed zahrnut\u00fdch v podkladov\u00e9m indexu.<\/p>\n<h2>Pro\u010d investovat do ETF?<\/h2>\n<p>Investov\u00e1n\u00ed do ETF, kter\u00e9 kop\u00edruj\u00ed v\u00fdvoj ur\u010dit\u00e9ho indexu, nab\u00edz\u00ed investor\u016fm<strong> rozlo\u017een\u00ed rizika<\/strong>. Kdy\u017e investor vlastn\u00ed ETF, v podstat\u011b vlastn\u00ed ka\u017ed\u00fd titul v dan\u00e9m indexu. Pokud se cena jednoho titulu sn\u00ed\u017e\u00ed, ovlivn\u00ed to celkovou cenu indexu a t\u00edm i hodnotu ETF, ale pouze podle procentu\u00e1ln\u00ed v\u00e1hy tohoto titulu v indexu.<\/p>\n<p>ETF se vyzna\u010duj\u00ed vysokou likviditou a jejich kurz se neust\u00e1le m\u011bn\u00ed, co\u017e umo\u017e\u0148uje investor\u016fm nakupovat nebo prod\u00e1vat b\u011bhem vte\u0159in. Nav\u00edc maj\u00ed n\u00edzk\u00e9 n\u00e1klady, poplatky jsou srovnateln\u00e9 s poplatky za akcie a z\u00e1vis\u00ed na trhu, na kter\u00e9m se ETF obchoduj\u00ed.<\/p>\n<p>Bezpe\u010dnost je zaji\u0161t\u011bna t\u00edm, \u017ee majetek ETF je odd\u011blen od spr\u00e1vcovsk\u00e9 spole\u010dnosti. ETF jsou tak\u00e9 transparentn\u00ed a snadn\u00e9 pro investory, kte\u0159\u00ed cht\u011bj\u00ed spekulovat na vzestup ur\u010dit\u00e9ho segmentu ekonomiky, ale nejsou si jisti, kterou spole\u010dnost si vybrat \u2013 sta\u010d\u00ed koupit ETF kop\u00edruj\u00edc\u00ed v\u00fdvoj indexu, kter\u00fd zastupuje zvolen\u00fd segment. Nakonec jsou ETF dostupn\u00e9 stejn\u011b jako akcie, je mo\u017en\u00e9 je nakupovat i v mal\u00fdch mno\u017estv\u00edch pomoc\u00ed frakc\u00ed.<\/p>\n<p>ETF mohou pomoci v\u0161em investor\u016fm maximalizovat portfolio a minimalizovat investi\u010dn\u00ed riziko. Je to snad nejv\u00edce p\u0159\u00edm\u00e1 a z\u00e1rove\u0148 r\u016fznorod\u00e1 mo\u017enost investov\u00e1n\u00ed. M\u00edsto agresivn\u00edho roz\u0161i\u0159ov\u00e1n\u00ed portfolia a zbyte\u010dn\u00e9ho nakupov\u00e1n\u00ed des\u00edtek titul\u016f je jedin\u00e1 investice do ETF sama o sob\u011b dosti diverzifikovanou. Odpad\u00e1 t\u00edm nutnost sledovat a nakupovat jednotliv\u00e9 akcie firem, sta\u010d\u00ed zakoupit pouze akcie dan\u00e9ho ETF.<\/p>\n<p><span style=\"text-decoration: underline;\">Rizika:<\/span><\/p>\n<ul>\n<li><strong>tr\u017en\u00ed riziko<\/strong>\u00a0\u2013\u00a0jedn\u00e1 se o riziko ztr\u00e1ty p\u0159i zm\u011bn\u011b tr\u017en\u00edch cen (tomuto riziku jsou vystaveny obecn\u011b v\u0161echny cenn\u00e9 pap\u00edry)<\/li>\n<li><strong>m\u011bnov\u00e9 riziko<\/strong>\u00a0\u2013\u00a0podl\u00e9haj\u00ed mu v\u0161echny instrumenty, kter\u00e9 se obchoduj\u00ed na zahrani\u010dn\u00edch trz\u00edch v ciz\u00ed m\u011bn\u011b<\/li>\n<\/ul>\n<h2>Jak koupit a investovat do ETF<\/h2>\n<p>Investov\u00e1n\u00ed do indexov\u00fdch akci\u00ed (ETF) je stejn\u011b jednoduch\u00e9, jako n\u00e1kup klasick\u00fdch firemn\u00edch akci\u00ed. Sta\u010d\u00ed si jen vybrat burzu, odv\u011btv\u00ed nebo komoditu jej\u00ed\u017e hodnotu m\u00e1 kop\u00edrovat va\u0161e indexov\u00e1 akcie. Tento druh investice zahrnuje n\u00e1kup indexov\u00fdch akci\u00ed, kter\u00e9 kop\u00edruj\u00ed hodnotu vybran\u00e9ho indexu, burzy, odv\u011btv\u00ed nebo komodity. Proces je stejn\u011b jednoduch\u00fd jako n\u00e1kup tradi\u010dn\u00edch firemn\u00edch akci\u00ed, co\u017e znamen\u00e1, \u017ee i ti m\u00e9n\u011b zku\u0161en\u00ed investo\u0159i mohou snadno diverzifikovat sv\u00e9 portfolio.<\/p>\n<p><strong>Koupit ETF<\/strong> u akciov\u00e9ho brokera je dnes ji\u017e rychl\u00ed proces, pokud v\u00edte, jak\u00e9 kroky podniknout. Zde je postup, jak nakupovat ETF prost\u0159ednictv\u00edm v\u011bt\u0161iny akciov\u00fdch broker\u016f<\/p>\n<ol>\n<li><strong>V\u00fdb\u011br brokera<\/strong>: Nejprve si vybereme brokera. P\u0159i v\u00fdb\u011bru brokera se zam\u011b\u0159\u00edme zejm\u00e9na na poplatky, platformu, u\u017eivatelsk\u00e9 prost\u0159ed\u00ed, dostupnost investi\u010dn\u00edch produkt\u016f, a zda nab\u00edz\u00ed ETF, frak\u010dn\u00ed ETF a dal\u0161\u00ed slu\u017eby, kter\u00e9 v\u00e1s zaj\u00edmaj\u00ed.<\/li>\n<li><strong>Registrace a ov\u011b\u0159en\u00ed<\/strong>: Zalo\u017e\u00edme si \u00fa\u010det u vybran\u00e9ho brokera. B\u011bhem registrace budeme muset poskytnout osobn\u00ed informace a dokumenty pot\u0159ebn\u00e9 pro ov\u011b\u0159en\u00ed toto\u017enosti.<\/li>\n<li><strong>Vklad finan\u010dn\u00edch prost\u0159edk\u016f<\/strong>: Po ov\u011b\u0159en\u00ed \u00fa\u010dtu budeme muset na \u00fa\u010det vlo\u017eit finan\u010dn\u00ed prost\u0159edky. To se obvykle d\u011bl\u00e1 bankovn\u00edm p\u0159evodem nebo p\u0159evodem z jin\u00e9ho platebn\u00edho n\u00e1stroje<\/li>\n<li><strong>V\u00fdzkum ETF<\/strong>: P\u0159ed n\u00e1kupem ETF je d\u016fle\u017eit\u00e9 ud\u011blat si v\u00fdzkum. Zjist\u011bme, kter\u00e9 ETF odpov\u00eddaj\u00ed na\u0161im investi\u010dn\u00edm c\u00edl\u016fm a strategii. M\u016f\u017eeme zv\u00e1\u017eit faktory jako jsou v\u00fdkonnost, poplatky, slo\u017een\u00ed ETF a rizikovost.<\/li>\n<li><strong>Um\u00edst\u011bn\u00ed objedn\u00e1vky<\/strong>: Jakmile m\u00e1me prost\u0159edky na \u00fa\u010dtu a rozhodli jsme se, kter\u00e9 ETF chceme koupit, p\u0159ejd\u011bme do sekce obchodov\u00e1n\u00ed na platform\u011b brokera. Vyhled\u00e1me zvolen\u00e9 ETF a\u00a0 zad\u00e1me typ objedn\u00e1vky (nap\u0159\u00edklad tr\u017en\u00ed nebo limitn\u00ed objedn\u00e1vku), po\u010det kus\u016f ETF, kter\u00e9 chceme koupit, a potvrd\u00edte transakci.<\/li>\n<li><strong>Sledov\u00e1n\u00ed a spr\u00e1va investic<\/strong>: Po n\u00e1kupu ETF je d\u016fle\u017eit\u00e9 sledovat v\u00fdkonnost portfolia. Vyu\u017eijme n\u00e1stroje a anal\u00fdzy, kter\u00e9 poskytuje broker, a podle pot\u0159eby p\u0159izp\u016fsob\u00edme sv\u00e9 investi\u010dn\u00ed strategie.<\/li>\n<li><strong>Da\u0148ov\u00e9 povinnosti<\/strong>: I investov\u00e1n\u00ed do ETF p\u0159in\u00e1\u0161\u00ed da\u0148ov\u00e9 povinnosti, kter\u00e9 si t\u00fdkaj\u00ed zejm\u00e9na budouc\u00edho zisku. Je nutn\u00e9 se ujistit, \u017ee rozum\u00edme da\u0148ov\u00fdm d\u016fsledk\u016fm investov\u00e1n\u00ed do ETF a p\u0159\u00edpadn\u011b se porad\u00edme s da\u0148ov\u00fdm poradcem.<\/li>\n<\/ol>\n<p>ETF jsou obchodovateln\u00e9 b\u011bhem cel\u00e9ho dne na burze, co\u017e znamen\u00e1, \u017ee je mo\u017en\u00e9 je kdykoliv nakupovat a prod\u00e1vat za aktu\u00e1ln\u00ed tr\u017en\u00ed cenu. Tato vlastnost d\u00e1v\u00e1 investor\u016fm v\u011bt\u0161\u00ed flexibilitu a kontrolu nad jejich investicemi. Pamatujte, \u017ee investov\u00e1n\u00ed do ETF, jako ka\u017ed\u00fd typ investice, nese rizika, a je d\u016fle\u017eit\u00e9 d\u011blat informovan\u00e1 rozhodnut\u00ed.<\/p>\n\n\t<div class=\"space-shortcode-wrap space-shortcode-4 relative\">\n\t\t<div class=\"space-shortcode-wrap-ins relative\">\n\n\t\t\t\t\t\t<div class=\"space-block-title relative\">\n\t\t\t\t<span>Popul\u00e1rn\u00ed broke\u0159i pro ETF<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t<div class=\"space-organizations-3-archive-items box-100 relative\">\n\n\t\t\t\t\n\t\t\t\t<div class=\"space-organizations-3-archive-item box-100 relative\">\n\t\t\t\t\t<div class=\"space-organizations-3-archive-item-ins relative\">\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"180\" height=\"72\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb.png\" class=\"attachment-mercury-9999-80 size-mercury-9999-80\" alt=\"XTB\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb.png 180w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-150x60.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-100x40.png 100w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2021\/05\/xtb-80x32.png 80w\" sizes=\"auto, (max-width: 180px) 100vw, 180px\" \/>\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-count absolute\">\n\t\t\t\t\t\t\t\t\t<span>1<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms-ins box-100 text-center relative\">\n\t\t\t\t\t\t\tRe\u00e1ln\u00e9 akcie a ETF. N\u00edzk\u00e9 poplatky + \u010cesk\u00e1 z\u00e1kaznick\u00e1 podpora. V\u00edce ne\u017e 8600 instrument\u016f k obchodov\u00e1n\u00ed. Denn\u00ed webin\u00e1\u0159e a zpr\u00e1vy z trh\u016f pro klienty.\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-box relative\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"star-rating\"><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-half\" aria-hidden=\"true\"><\/div><\/div>\t\t\t\t\t\t\t\t\t\t<span>4.8<\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organization-header-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"tc-apply\">Hodnocen\u00ed u\u017eivatel\u016f<\/span>\n\t\t\t\t\t\t\t\t\t\t<div class=\"tc-desc\">\n\t\t\t\t\t\t\t\t\t\t\t&nbsp;\r\n\r\n \t\u27a1\ufe0f Trustpilot hodnocen\u00ed 4.0\/5 \u2b50 \u00a0(Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 1174 hodnocen\u00ed)\r\n \t\u27a1\ufe0f Google play hodnocen\u00ed 4,4\/5 \u2b50 (Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 57 000 hodnocen\u00ed)\r\n\r\n&nbsp;\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<div class=\"space-organizations-archive-item-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t75% CFDs \u00fa\u010dt\u016f je ztr\u00e1tov\u00fdch\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button-ins box-100 text-center relative\">\n\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/xt-cs\" title=\"Nav\u0161t\u00edvit XTB\" target=\"_blank\" rel=\"nofollow\"><i class=\"fas fa-check-circle\"><\/i> Nav\u0161t\u00edvit XTB<\/a>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t<div class=\"space-organizations-3-archive-item box-100 relative\">\n\t\t\t\t\t<div class=\"space-organizations-3-archive-item-ins relative\">\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"262\" height=\"80\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-262x80.png\" class=\"attachment-mercury-9999-80 size-mercury-9999-80\" alt=\"eToro recenze\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-262x80.png 262w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-150x46.png 150w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-131x40.png 131w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-105x32.png 105w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-442x135.png 442w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-24x7.png 24w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-36x11.png 36w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3-48x15.png 48w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2022\/01\/etoro-logo-3.png 720w\" sizes=\"auto, (max-width: 262px) 100vw, 262px\" \/>\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-count absolute\">\n\t\t\t\t\t\t\t\t\t<span>2<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms-ins box-100 text-center relative\">\n\t\t\t\t\t\t\tRe\u00e1ln\u00e9 akcie a kryptom\u011bny. N\u00edzk\u00fd minim\u00e1ln\u00ed vklad 50 USD.\r\nMo\u017enost kop\u00edrov\u00e1n\u00ed obchod\u016f. Denn\u00ed webin\u00e1\u0159e a zpr\u00e1vy z trh\u016f pro klienty.\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-box relative\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"star-rating\"><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-half\" aria-hidden=\"true\"><\/div><\/div>\t\t\t\t\t\t\t\t\t\t<span>4.5<\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organization-header-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"tc-apply\">Hodnocen\u00ed u\u017eivatel\u016f<\/span>\n\t\t\t\t\t\t\t\t\t\t<div class=\"tc-desc\">\n\t\t\t\t\t\t\t\t\t\t\t&nbsp;\r\n\r\n \t\u27a1\ufe0f Trustpilot hodnocen\u00ed 4,4\/5 \u2b50 \u00a0(Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 20 891 hodnocen\u00ed)\r\n \t\u27a1\ufe0f Google play hodnocen\u00ed 4,2\/5 \u2b50 (Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 110 000 hodnocen\u00ed)\r\n\r\n&nbsp;\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<div class=\"space-organizations-archive-item-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t52% CFDs \u00fa\u010dt\u016f retailov\u00fdch je ztr\u00e1tov\u00fdch\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button-ins box-100 text-center relative\">\n\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/ecns\" title=\"Nav\u0161t\u00edvit eToro\" target=\"_blank\" rel=\"nofollow\"><i class=\"fas fa-check-circle\"><\/i> Nav\u0161t\u00edvit eToro<\/a>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t<div class=\"space-organizations-3-archive-item box-100 relative\">\n\t\t\t\t\t<div class=\"space-organizations-3-archive-item-ins relative\">\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-logo-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"165\" height=\"80\" src=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2020\/04\/plus500-logo-165x80.png\" class=\"attachment-mercury-9999-80 size-mercury-9999-80\" alt=\"Plus500\" srcset=\"https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2020\/04\/plus500-logo-165x80.png 165w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2020\/04\/plus500-logo-300x146.png 300w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2020\/04\/plus500-logo-82x40.png 82w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2020\/04\/plus500-logo-66x32.png 66w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2020\/04\/plus500-logo-278x135.png 278w, https:\/\/www.forexsrovnavac.cz\/mag\/wp-content\/uploads\/2020\/04\/plus500-logo.png 500w\" sizes=\"auto, (max-width: 165px) 100vw, 165px\" \/>\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-count absolute\">\n\t\t\t\t\t\t\t\t\t<span>3<\/span>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-terms-ins box-100 text-center relative\">\n\t\t\t\t\t\t\t<p>Trading pomoc\u00ed CFDs. Neomezen\u00fd demo \u00fa\u010det. \u017d\u00e1dn\u00e9 poplatky za v\u00fdb\u011br nebo vklad. Upozorn\u011bn\u00ed na pohyby ceny i formou SMS. \u010cesk\u00e1 podpora na online chatu.<\/p>\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-ins box-100 text-center relative\">\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-rating-box relative\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"star-rating\"><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-full\" aria-hidden=\"true\"><\/div><div class=\"star star-empty\" aria-hidden=\"true\"><\/div><\/div>\t\t\t\t\t\t\t\t\t\t<span>4.0<\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"space-organization-header-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"tc-apply\">Hodnocen\u00ed u\u017eivatel\u016f<\/span>\n\t\t\t\t\t\t\t\t\t\t<div class=\"tc-desc\">\n\t\t\t\t\t\t\t\t\t\t\t<p>&nbsp;<\/p>\r\n\r\n\u27a1\ufe0f Trustpilot hodnocen\u00ed 4,1\/5 \u2b50 \u00a0(Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 13600 hodnocen\u00ed)\r\n\u27a1\ufe0f Google play hodnocen\u00ed 4,5\/5 \u2b50 (Pr\u016fm\u011br z celkov\u00e9ho po\u010dtu 108000 hodnocen\u00ed)\r\n\r\n<p>&nbsp;<\/p>\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t<div class=\"space-organizations-archive-item-button-notice relative\" style=\"margin-top: 5px;\">\n\t\t\t\t\t\t\t\t\t<p>80% maloobchodn\u00edch CFD \u00fa\u010dt\u016f p\u0159ich\u00e1z\u00ed o pen\u00edze.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button box-25 relative\">\n\t\t\t\t\t\t\t<div class=\"space-organizations-3-archive-item-button-ins box-100 text-center relative\">\n\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.forexsrovnavac.cz\/mag\/pl-cs\" title=\"Nav\u0161t\u00edvit Plus500\" target=\"_blank\" rel=\"nofollow\"><i class=\"fas fa-check-circle\"><\/i> Nav\u0161t\u00edvit Plus500<\/a>\n\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t<\/div>\n\n\n<h2>Jak funguj\u00ed p\u00e1kov\u00e9 \/ short ETF?<\/h2>\n<p>Short ETF umo\u017e\u0148uj\u00ed investorovi <strong>vyd\u011bl\u00e1vat na poklesu cen aktiv<\/strong>. Zobrazuj\u00ed v\u00fdvoj dan\u00e9ho indexu, k n\u011bmu\u017e se vztahuj\u00ed, zrcadlov\u011b, tzn. jejich hodnota roste, kdy\u017e cena podkladov\u00e9ho aktiva kles\u00e1. V nab\u00eddce jsou jak fondy jejich\u017e podkladem je standardn\u00ed index, tak sektorov\u011b zam\u011b\u0159en\u00e9 fondy a akcie. Pokud index ztrat\u00ed 2%, fond v tomto p\u0159\u00edpad\u011b 2% p\u0159id\u00e1. A plat\u00ed to tak\u00e9 naopak. Tento typ ETF fond\u016f toti\u017e netvo\u0159\u00ed svoj\u00ed hodnotu souvisle od sv\u00e9ho po\u010d\u00e1tku, ale ka\u017ed\u00fd den je z\u00e1v\u011bre\u010dn\u00e1 hodnota zafixov\u00e1na a stanovena op\u011bt jako bod nula, tedy jako po\u010d\u00e1te\u010dn\u00ed hodnota pro dal\u0161\u00ed den.<\/p>\n<p>Investo\u0159i pak zase zrcadlovit\u011b participuj\u00ed na v\u00fdvoji indexu. Toto zhodnocen\u00ed je pak op\u011bt \u201ep\u0159ipo\u010dteno nebo ode\u010dteno\u201d od minul\u00e9 hodnoty. Krom\u011b opa\u010dn\u00e9ho kursov\u00e9ho v\u00fdvoje z\u00edsk\u00e1 investor je\u0161t\u011b \u00faroky. Ty se zapo\u010d\u00edt\u00e1vaj\u00ed p\u0159\u00edmo do hodnoty indexu. U short pozice jsou toti\u017e prod\u00e1ny cenn\u00e9 pap\u00edry, kter\u00e9 fond nevlastn\u00ed a utr\u017een\u00e9 pen\u00edze se zainvestuj\u00ed zpravidla na m\u011bnov\u00e9m trhu. P\u0159i poklesu cenu jsou pap\u00edry nakoupeny zp\u011bt \u2013 za v\u00fdhodn\u011bj\u0161\u00ed cenu \u2013 a t\u00edm dojde k realizaci zisku. P\u0159\u00edklady SHORT ETF naleznete.<\/p>\n<h2>Rizika p\u00e1kov\u00fdch ETF<\/h2>\n<p>P\u00e1kov\u00e1 ETF jsou komplexn\u00ed finan\u010dn\u00ed n\u00e1stroje, kter\u00e9 vyu\u017e\u00edvaj\u00ed finan\u010dn\u00ed p\u00e1ku k zes\u00edlen\u00ed v\u00fdnos\u016f (nebo ztr\u00e1t) spojen\u00fdch s pohyby trhu. P\u00e1kov\u00e1 ETF jsou obzvl\u00e1\u0161\u0165 citliv\u00e9 na tr\u017en\u00ed volatilitu. Jejich vhodnost se li\u0161\u00ed v z\u00e1vislosti na tr\u017en\u00edm prost\u0159ed\u00ed. V m\u00e1lo volatiln\u00edch podm\u00ednk\u00e1ch mohou b\u00fdt p\u00e1kov\u00e1 ETF atraktivn\u00ed volbou, jeliko\u017e m\u00edrn\u00e9 pohyby na trhu mohou b\u00fdt p\u00e1kou zv\u00fdrazn\u011bny, \u010d\u00edm\u017e nab\u00edz\u00ed vy\u0161\u0161\u00ed potenci\u00e1l r\u016fstu. Na druhou stranu, v prost\u0159ed\u00ed s vysokou volatilitou mohou b\u00fdt p\u00e1kov\u00e1 ETF mimo\u0159\u00e1dn\u011b rizikov\u00e1.<\/p>\n<p>Pro dlouhodob\u00e9 investice jsou p\u00e1kov\u00e1 ETF obecn\u011b pova\u017eov\u00e1na za nevhodnou volbu. To je d\u00e1no t\u00edm, \u017ee dlouhodob\u00e9 dr\u017een\u00ed t\u011bchto fond\u016f je \u010dasto negativn\u011b ovlivn\u011bno jejich zv\u00fd\u0161enou volatilitou. P\u0159\u00edklad s ETF SKF (inverzn\u00edm fondem s p\u00e1kou 2) a porovn\u00e1n\u00ed s RKH (ne-p\u00e1kov\u00fdm ETF) jasn\u011b ilustruje tento probl\u00e9m.<\/p>\n<p>Zde je alternativn\u00ed p\u0159\u00edklad ilustruj\u00edc\u00ed, jak p\u00e1kov\u00e9 ETF funguj\u00ed a pro\u010d nejsou vhodn\u00e9 pro dlouhodob\u00e9 dr\u017een\u00ed kv\u016fli jejich vysok\u00e9 citlivosti na tr\u017en\u00ed volatilitu:<\/p>\n<p><strong>Den 0:<\/strong><\/p>\n<ul>\n<li>Index X: 100 bod\u016f<\/li>\n<li>P\u00e1kov\u00e9 ETF (s p\u00e1kou 3x) sleduj\u00edc\u00ed Index X: 100 bod\u016f<\/li>\n<\/ul>\n<p><strong>Den 1:<\/strong><\/p>\n<ul>\n<li>Index X vzrostl o 10%, tedy na 110 bod\u016f.<\/li>\n<li>P\u00e1kov\u00e9 ETF teoreticky vzroste o 30% (3&#215;10%), tedy na 130 bod\u016f.<\/li>\n<\/ul>\n<p><strong>Den 2:<\/strong><\/p>\n<ul>\n<li>Index X klesl o 10%, vrac\u00ed se tedy na p\u016fvodn\u00edch 100 bod\u016f.<\/li>\n<li>P\u00e1kov\u00e9 ETF teoreticky klesne o 30% (3&#215;10%) z hodnoty 130, co\u017e je 39 bod\u016f, tedy na 91 bod\u016f.<\/li>\n<\/ul>\n<p><strong>V\u00fdsledek:<\/strong><\/p>\n<ul>\n<li>Index X je zp\u011bt na sv\u00e9 p\u016fvodn\u00ed hodnot\u011b (0% zm\u011bna).<\/li>\n<li>P\u00e1kov\u00e9 ETF je na 91 bodech, co\u017e je pokles o 9% oproti p\u016fvodn\u00ed hodnot\u011b.<\/li>\n<\/ul>\n<p>Tento p\u0159\u00edklad ukazuje, \u017ee i kdy\u017e se index vr\u00e1til na svou p\u016fvodn\u00ed hodnotu, hodnota p\u00e1kov\u00e9ho ETF klesla. D\u016fvodem je komplexn\u00ed zp\u016fsob, jak\u00fdm se p\u00e1ka v ETF aplikuje, a to, \u017ee p\u00e1kov\u00e9 ETF jsou obvykle resetov\u00e1ny ka\u017ed\u00fd den. To znamen\u00e1, \u017ee jejich hodnota nen\u00ed p\u0159\u00edmo spojen\u00e1 s dlouhodob\u00fdm v\u00fdvojem indexu, ale s jeho denn\u00edmi zm\u011bnami. Proto se p\u00e1kov\u00e1 ETF nehod\u00ed pro dlouhodob\u00e9 investice, proto\u017ee vysok\u00e1 volatilita a efekt denn\u00edho resetov\u00e1n\u00ed mohou v\u00e9st k zna\u010dn\u00fdm ztr\u00e1t\u00e1m, i kdy\u017e se zd\u00e1, \u017ee sledovan\u00fd index se v dlouhodob\u00e9m horizontu vrac\u00ed na sv\u00e9 p\u016fvodn\u00ed hodnoty.<\/p>\n<h2>Seznam sv\u011btov\u00fdch a nejobchodovateln\u011bj\u0161\u00edch ETF<\/h2>\n<p>Seznam sv\u011btov\u00fdch a nejobchodovateln\u011bj\u0161\u00edch ETF nab\u00edz\u00ed \u0161irok\u00fd v\u00fdb\u011br Burzovn\u011b obchodovateln\u00fdch fond\u016f, kter\u00e9 pokr\u00fdvaj\u00ed r\u016fzn\u00e9 trhy a aktiva, a jsou obl\u00edben\u00fdm n\u00e1strojem pro investory hledaj\u00edc\u00ed diverzifikaci sv\u00e9ho portfolia. Mezi ty nejzn\u00e1m\u011bj\u0161\u00ed pat\u0159\u00ed SPDR S&amp;P 500 ETF (SPY), kter\u00fd sleduje v\u00fdkonnost akciov\u00e9ho indexu S&amp;P 500 zahrnuj\u00edc\u00ed 500 p\u0159edn\u00edch americk\u00fdch spole\u010dnost\u00ed, Invesco QQQ Trust (QQQ), reprezentuj\u00edc\u00ed akciov\u00fd index Nasdaq-100 s d\u016frazem na technologick\u00fd sektor, a iShares Gold Trust (IAU), poskytuj\u00edc\u00ed investor\u016fm expozici v\u016f\u010di cen\u011b zlata. Tento seznam d\u00e1le zahrnuje r\u016fzn\u00e1 dal\u0161\u00ed ETF zam\u011b\u0159en\u00e1 na specifick\u00e9 sektory, regiony nebo komodity, \u010d\u00edm\u017e nab\u00edz\u00ed investi\u010dn\u00ed mo\u017enosti pro \u0161irokou \u0161k\u00e1lu investi\u010dn\u00edch p\u0159\u00edstup\u016f a preferenc\u00ed.<\/p>\n\n<table id=\"tablepress-13\" class=\"tablepress tablepress-id-13\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Kategorie<\/th><th class=\"column-2\">ETF<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">ETF zam\u011b\u0159en\u00e9 na hlavn\u00ed burzovn\u00ed indexy<\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Dow Jones Industrial Average<\/td><td class=\"column-2\">Diamonds Trust, Series 1 (DIA)<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">S&amp;P 500<\/td><td class=\"column-2\">SPDRs (SPY)<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Nasdaq<\/td><td class=\"column-2\">PowerShares QQQ (QQQQ)<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">ETF zam\u011b\u0159en\u00e9 na ur\u010dit\u00e9 lokality nebo destinace (n\u00e1rodn\u00ed burzy)<\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Austr\u00e1lie<\/td><td class=\"column-2\">iShares MSCI Australia Index (EWA)<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">Belgie<\/td><td class=\"column-2\">iShares MSCI Belgium Investable Mkt Idx (EWK)<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">Braz\u00edlie<\/td><td class=\"column-2\">iShares MSCI Brazil Index (EWZ)<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">\u010c\u00edna<\/td><td class=\"column-2\">PowerShares Gldn Dragon Halter USX China (PGJ)<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares FTSE\/Xinhua China 25 Index (FXI)<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">Francie<\/td><td class=\"column-2\">iShares MSCI France Index (EWQ)<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">Hong Kong<\/td><td class=\"column-2\">iShares MSCI Hong Kong Index (EWH)<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">Chile<\/td><td class=\"column-2\">iShares MSCI Chile Investable Mkt Idx (ECH)<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">It\u00e1lie<\/td><td class=\"column-2\">iShares MSCI Italy Index (EWI)<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">Japonsko<\/td><td class=\"column-2\">iShares MSCI Japan Index (EWJ)<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">Jihoafrick\u00e1 republika<\/td><td class=\"column-2\">iShares MSCI South Africa Index (EZA)<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">Ji\u017en\u00ed Korea<\/td><td class=\"column-2\">iShares MSCI South Korea Index (EWY)<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">Kanada<\/td><td class=\"column-2\">Central Fund of Canada Limited (CEF)<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">Malajsie<\/td><td class=\"column-2\">iShares MSCI Malaysia Index (EWM)<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">Mexiko<\/td><td class=\"column-2\">iShares MSCI Mexico Investable Mkt Idx (EWW)<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">N\u011bmecko<\/td><td class=\"column-2\">iShares MSCI Germany Index (EWG)<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">Nizozem\u00ed<\/td><td class=\"column-2\">iShares MSCI Netherlands Invstbl Mkt Idx (EWN)<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">Rakousko<\/td><td class=\"column-2\">iShares MSCI Austria Investable Mkt Idx (EWO)<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">Rusko<\/td><td class=\"column-2\">Market Vectors Russia ETF (RSX)<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">Singapore<\/td><td class=\"column-2\">iShares MSCI Singapore Index (EWS)<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">\u0160pan\u011blsko<\/td><td class=\"column-2\">iShares MSCI Spain Index (EWP)<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">\u0160v\u00e9dsko<\/td><td class=\"column-2\">iShares MSCI Sweden Index (EWD)<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">\u0160v\u00fdcarsko<\/td><td class=\"column-2\">iShares MSCI Switzerland Index (EWL)<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">Taiwan<\/td><td class=\"column-2\">iShares MSCI Taiwan Index (EWT)<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">Turecko<\/td><td class=\"column-2\">iShares MSCI Turkey Invest Mkt Index (TUR)<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">Velk\u00e1 Brit\u00e1nie<\/td><td class=\"column-2\">iShares MSCI United Kingdom Index (EWU)<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">Evropa<\/td><td class=\"column-2\">Vanguard European Stock ETF (VGK)<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares S&amp;P Europe 350 Index (IEV)<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares MSCI EMU Index (EZU)<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">Glob\u00e1ln\u00ed<\/td><td class=\"column-2\">Vanguard Europe Pacific ETF (VEA)<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">Vanguard FTSE All-World ex-US ETF (VEU)<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">SPDR MSCI ACWI (ex-US) (CWI)<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares MSCI EAFE Index (EFA)<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">Latinsk\u00e1 Amerika<\/td><td class=\"column-2\">iShares S&amp;P Latin America 40 Index (ILF)<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">Pacifik (krom\u011b Japonska)<\/td><td class=\"column-2\">iShares MSCI Pacific ex-Japan (EPP)<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">ETF zam\u011b\u0159en\u00e9 na ur\u010dit\u00e9 komodity<\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">Ropa<\/td><td class=\"column-2\">United States Oil Fund (USO)<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">PowerShares DB Oil Fund (DBO)<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">Zlato<\/td><td class=\"column-2\">SPDR Gold Shares (GLD)<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">St\u0159\u00edbro<\/td><td class=\"column-2\">iShares Silver Trust (SLV)<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">Zemn\u00ed plyn<\/td><td class=\"column-2\">United States Natural Gas (UNG)<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">Ropa, topn\u00fd olej, zlato, hlin\u00edk, kuku\u0159ice, bavlna<\/td><td class=\"column-2\">PowerShares DB Commodity Index Tracking (DBC)<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-52\">\n\t<td class=\"column-1\">ETF zam\u011b\u0159en\u00e9 na ur\u010dit\u00e9 sektory (odv\u011btv\u00ed)<\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-53\">\n\t<td class=\"column-1\">Oil Services<\/td><td class=\"column-2\">HOLDRs (OIH)<\/td>\n<\/tr>\n<tr class=\"row-54\">\n\t<td class=\"column-1\">Real Estate<\/td><td class=\"column-2\">iShares Dow Jones US Real Estate Index Fund (IYR)<\/td>\n<\/tr>\n<tr class=\"row-55\">\n\t<td class=\"column-1\">Basic Materials<\/td><td class=\"column-2\">iShares Dow Jones US Basic Materials (IYM)<\/td>\n<\/tr>\n<tr class=\"row-56\">\n\t<td class=\"column-1\">Energy<\/td><td class=\"column-2\">iShares Dow Jones US Energy (IYE)<\/td>\n<\/tr>\n<tr class=\"row-57\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares Dow Jones US Oil &amp; Gas Ex Index (IEO)<\/td>\n<\/tr>\n<tr class=\"row-58\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares S&amp;P North Amer Natural Resources (IGE)<\/td>\n<\/tr>\n<tr class=\"row-59\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">Energy Select Sector SPDR (XLE)<\/td>\n<\/tr>\n<tr class=\"row-60\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">Materials Select Sector SPDR (XLB)<\/td>\n<\/tr>\n<tr class=\"row-61\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">SPDR S&amp;P Metals &amp; Mining (XME)<\/td>\n<\/tr>\n<tr class=\"row-62\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">SPDR S&amp;P Oil &amp; Gas Equipment &amp; Services (XES)<\/td>\n<\/tr>\n<tr class=\"row-63\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">SPDR S&amp;P Oil &amp; Gas Exploration &amp; Prod (XOP)<\/td>\n<\/tr>\n<tr class=\"row-64\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">Vanguard Energy ETF (VDE)<\/td>\n<\/tr>\n<tr class=\"row-65\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">Vanguard Materials ETF (VAW)<\/td>\n<\/tr>\n<tr class=\"row-66\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">PowerShares Water Resources (PHO)<\/td>\n<\/tr>\n<tr class=\"row-67\">\n\t<td class=\"column-1\">Financials<\/td><td class=\"column-2\">Select Sector SPDR (XLF)<\/td>\n<\/tr>\n<tr class=\"row-68\">\n\t<td class=\"column-1\">Semiconductors<\/td><td class=\"column-2\">HOLDRs (SMH)<\/td>\n<\/tr>\n<tr class=\"row-69\">\n\t<td class=\"column-1\">Steel<\/td><td class=\"column-2\">Market Vectors Steel ETF (SLX)<\/td>\n<\/tr>\n<tr class=\"row-70\">\n\t<td class=\"column-1\">Health Care<\/td><td class=\"column-2\">Select Sector SPDR (XLV)<\/td>\n<\/tr>\n<tr class=\"row-71\">\n\t<td class=\"column-1\">Homebuilders<\/td><td class=\"column-2\">SPDR S&amp;P Homebuilders (XHB)<\/td>\n<\/tr>\n<tr class=\"row-72\">\n\t<td class=\"column-1\">Technology<\/td><td class=\"column-2\">Select Sector SPDR (XLK)<\/td>\n<\/tr>\n<tr class=\"row-73\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares Nasdaq Biotechnology (IBB)<\/td>\n<\/tr>\n<tr class=\"row-74\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares Dow Jones US Technology (IYW)<\/td>\n<\/tr>\n<tr class=\"row-75\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">PowerShares DB Agriculture (DBA)<\/td>\n<\/tr>\n<tr class=\"row-76\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\">iShares MSCI Emerging Markets Index (EEM)<\/td>\n<\/tr>\n<tr class=\"row-77\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-78\">\n\t<td class=\"column-1\">ETF zam\u011b\u0159en\u00e9 na jednotliv\u00e9 n\u00e1rodn\u00ed m\u011bny<\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-79\">\n\t<td class=\"column-1\">Japonsk\u00fd jen<\/td><td class=\"column-2\">CurrencyShares Japanese Yen Trust (FXY)<\/td>\n<\/tr>\n<tr class=\"row-80\">\n\t<td class=\"column-1\">Kanadsk\u00fd dolar<\/td><td class=\"column-2\">CurrencyShares Canadian Dollar Trust (FXC)<\/td>\n<\/tr>\n<tr class=\"row-81\">\n\t<td class=\"column-1\">Australsk\u00fd dolar<\/td><td class=\"column-2\">CurrencyShares Australian Dollar Trust (FXA)<\/td>\n<\/tr>\n<tr class=\"row-82\">\n\t<td class=\"column-1\">Euro<\/td><td class=\"column-2\">CurrencyShares Euro Trust (FXE)<\/td>\n<\/tr>\n<tr class=\"row-83\">\n\t<td class=\"column-1\">Americk\u00fd dolar<\/td><td class=\"column-2\">PowerShares DB US Dollar Index Bullish (UUP)<\/td>\n<\/tr>\n<tr class=\"row-84\">\n\t<td class=\"column-1\"><\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-85\">\n\t<td class=\"column-1\">ETF zam\u011b\u0159en\u00e9 na dluhopisy<\/td><td class=\"column-2\"><\/td>\n<\/tr>\n<tr class=\"row-86\">\n\t<td class=\"column-1\">Dlouhodob\u00e9 americk\u00e9 st\u00e1tn\u00ed dluhopisy<\/td><td class=\"column-2\">iShares Barclays 20+ Year Treas Bond (TLT)<\/td>\n<\/tr>\n<tr class=\"row-87\">\n\t<td class=\"column-1\">St\u0159edn\u011bdob\u00e9 americk\u00e9 st\u00e1tn\u00ed dluhopisy<\/td><td class=\"column-2\">iShares Barclays<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-13 from cache -->\n","protected":false},"excerpt":{"rendered":"<p>ETF jsou obl\u00edbenou alternativou k pod\u00edlov\u00fdm fond\u016fm, proto\u017ee rozlo\u017e\u00ed riziko, zat\u00edmco investice do nich je tak snadn\u00e1 jako n\u00e1kup jednotliv\u00fdch akci\u00ed. Maj\u00ed vysokou likviditu a n\u00edzk\u00e9 transak\u010dn\u00ed poplatky. Lze do nich investovat bu\u010f jednor\u00e1zov\u011b, nebo pravideln\u011b, co\u017e se naz\u00fdv\u00e1 strategi\u00ed pr\u016fm\u011brov\u00e1n\u00ed n\u00e1klad\u016f (DCA). ETF jsou emitov\u00e1ny hlavn\u011b velk\u00fdmi spole\u010dnostmi, kter\u00e9 zaji\u0161\u0165uj\u00ed jejich likviditu. Tyto fondy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2957,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"Co je to ETF? Vysv\u011btlen\u00ed, jak se investuje do ETF","_seopress_titles_desc":"ETF nab\u00edz\u00ed zp\u016fsob pasivn\u00edho investov\u00e1n\u00ed do ko\u0161e vybran\u00fdch akci\u00ed, index\u016f, komodit. Jak za\u010d\u00edt investovat do ETF. Jejich v\u00fdhody a nev\u00fdhody.","_seopress_robots_index":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"class_list":["post-2956","page","type-page","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/pages\/2956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/comments?post=2956"}],"version-history":[{"count":0,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/pages\/2956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media\/2957"}],"wp:attachment":[{"href":"https:\/\/www.forexsrovnavac.cz\/mag\/wp-json\/wp\/v2\/media?parent=2956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}