Delta One

Delta One products are a class of financial derivative that have no optionality and as such have a delta of (or very close to) one - that is to say that for a given percentage move in the price of the underlying asset there will be a near identical move in the price of the derivative. Delta one products often incorporate a number of underlying securities and as such give the holder an easy way to gain exposure to a basket of securities in a single product. Examples include equity swaps, forwards, futures and ETFs.