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December 01, 2010 at 09:57 AM
ETF-provider Invesco PowerShares plans to roll out four new exchange-traded funds on Thursday based on indexes developed by Keefe, Bruyette & Woods, an investment bank focusing on the financial sector.
The PowerShares KBW Premium Yield Equity REIT Portfolio (KBWY) is based on the KBW Premium Yield Equity REIT Index.
KBWY will invest at least 90%of its assets in securities that comprise this underlying index, which is constructed by KBW using a dividend yield-weighted methodology that aims to reflect the performance of about 30 small- and mid-cap U.S. REITs.
The PowerShares KBW High Dividend Yield Financial Portfolio (KBWD) is based on the KBW Financial Sector Dividend Yield Index.
This index is constructed by KBW using a dividend yield-weighted methodology that seeks to reflect the performance of roughly 39 publicly listed U.S. companies in the business of providing financial services and products, including banking, insurance and diversified financial services. The index may also include securities of business development companies (BDCs) and equity and mortgage REITs.
The PowerShares KBW International Financial Portfolio (KBWX) is based on the KBW Global ex-U.S. Financial Sector Index. The fund’s underlying index is currently comprised mainly of American Depository Receipts (or ADRs).
This index aims to replicate the performance of some 60 non-U.S. financial companies.
The PowerShares KBW Property & Casualty Insurance Portfolio (KBWP) is based on the KBW Property & Casualty Index that seeks to reflect the performance of about 24 property and casualty insurance companies.
