PowerShares Plans Financial ETF Expansion
PowerShares seems ready to continue the expansion of its product lineup, recently filing for approval on four new funds. Each of the proposed ETFs would seek to replicate indexes maintained by KBW, which is already behind several ETFs offered by State Street. The funds detailed in the recent SEC filing include: KBW Premium Yield Equity REIT Portfolio (KBWY): Linked to the KBW Premium Yield REIT Index, a benchmark constructed using a dividend-weighted methodology. KBW High Dividend Yield Financial Portfolio (KBWD): Linked to the KBW Financial Sector Dividend Yield Index, a dividend yield weighted index that seeks to reflect the performance of approximately 24 to 40 publicly listed financial companies that are principally engaged in the business of providing financial services and products. KBW Global ex-U.S. Financial Sector Portfolio (KBWX): Linked to the KBW Global ex-U.S. Financial Sector Index, a cap-weighted benchmark that will consist of approximately 60 non-U.S. financial companies. KBW Property & Casualty [...] Click here to read the original article on ETFdb.com. Related Stories: PowerShares Plans Small Cap Sector ETFs PowerShares Plans Another Build America Bond ETF (BABI) Beyond XLF: Five Alternatives To The Popular Financial ETF
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