Delta, Vega and Gamma exposures on structured products linked to major equity indices peaked during the March sell-off and eased as markets recovered in the second quarter, with the S&P 500 the main risk driver throughout.

This article reviews the Greek sensitivities for structured products linked to selected equity indices over the first six months of 2026. The charts show how these sensitivities evolved across major indices, including the Dow Jones Industrial Average, Eurostoxx 50, FTSE 100, Hang Seng China Enterprises Index, Kospi 200, Nasdaq 100, Nikkei 225, Russell 2000 and S&P 500. The S&P 500 was positive overall during the first half of 2026, although its performance was uneven The portfolio wa