PowerShares Capital Management LLC, which offers exchange-traded funds (ETFs) that seek to beat the performance of indexes rather than simply track them, will introduce eight new industry funds this week. Expense ratios for all of the funds are capped at 0.6%.
The PowerShares Lux Nanotech Portfolio (PXN) will track an index of companies that fund, develop, and manufacture nanotechnology, based on research developed by Lux Research.
The PowerShares Aerospace and Defense Portfolio (PPA) will comprise publicly traded companies focused on homeland and border security, space industry infrastructure, and military technology. It will track the SPADE Defense Index, comprising companies whose market capitalization is at least $100 million, and that trade a minimum of one million shares per month at a price of at least $5 or more per share.
Six other industry groups are covered by the new funds based on Intellidex indexes created and maintained by the American Stock Exchange. These indexes rank industry stocks according to 25 quantitative factors, with the top 30 stocks selected for inclusion.