Invesco PowerShares announced the industry’s first suite of ETFs offering sector-specific beta exposure to U.S. small-cap equities.
The suite is comprised of nine ETF portfolios; each constructed to track a subset of the S&P SmallCap 600 Index.
The new exchange traded funds include:
Ticker Name of PowerShares Portfolio
XLYS PowerShares S&P SmallCap Consumer Discretionary Portfolio
XLPS PowerShares S&P SmallCap Consumer Staples Portfolio
XLES PowerShares S&P SmallCap Energy Portfolio
XLFS PowerShares S&P SmallCap Financials Portfolio
XLVS PowerShares S&P SmallCap Health Care Portfolio
XLIS PowerShares S&P SmallCap Industrials Portfolio
XLKS PowerShares S&P SmallCap Information Technology Portfolio
XLBS PowerShares S&P SmallCap Materials Portfolio
XLUS PowerShares S&P SmallCap Utilities Portfolio
The PowerShares S&P SmallCap Sector Portfolios are based upon a subset of the constituents in the S&P SmallCap 600 Index, which is a float-adjusted, market-capitalization-weighted index reflecting the U.S. small-cap equity universe. The constituents in the underlying sector indexes have met the qualifications for inclusion in the broader index to ensure that they are investable and financially viable. In order to qualify for inclusion, a stock must meet the following criteria at the time of their addition to the S&P SmallCap 600 Index:
* Size: Must have a market capitalization between $250 million and $1.2 billion
* Earnings: Must have four consecutive quarters of positive earnings
* Liquidity: Must have annual trading volume of at least 100% of its market cap
* Public Float: At least 50% of shares must be publicly available
For more ETF investing choices, see the list of sector ETFs.