Economy · Full coverage
Israel Transitions From Debt Notes to ETFs in Index Fund Investments
How 2 Israeli newsrooms covered this story — translated into English and compared side by side.
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By ליאור באקאלו
First reported by N12 · Jul 22, 2026
What happened
Israel reformed its index-tracking investment products between 2018 and 2019, converting most debt-based "index notes" into ETFs that hold assets in trust, reducing issuer risk. Despite the change, the term "index note" remains commonly used, though investors now typically buy ETFs on the Tel Aviv Stock Exchange.
- 01Israel replaced most index notes with ETFs in a 2018-2019 reform to reduce issuer risk.
- 02Index notes were debt instruments exposing investors to issuer default risk.
- 03ETFs hold assets in trust, legally separated from fund managers, enhancing investor protection.
- 04Despite the reform, the term "index note" is still commonly used in Israel.
- 05Today, Israeli investors mostly buy ETFs on the Tel Aviv Stock Exchange.
- 06Investors should consult official sources for updated product details.
Summary translated & synthesized from the sources below by baba. Read each original for the full report.
Full coverage · 2 outlets
The same event, reported separately by each newsroom. Open a few to compare what each emphasizes — and what they leave out.
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