Four More Financial Services ETFs Launched (KBW, KBWY, KBWD, KBWX, KBWP)

By Jon C. Ogg Updated Apr 27, 9:43PM EDT · Published Dec 2, 5:22PM EST

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Invesco PowerShares has launched four new ETF products today. The group launched new ETF portfolios which are based on Keefe, Bruyette & Woods, Inc. (NYSE: KBW) indexes on the NYSE Arca. The new portfolios are meant to offer access to REITs, financial services, and property & casualty insurance market sectors. The portfolios launched have names that are a mouthful and these are the PowerShares KBW Premium Yield Equity REIT Portfolio (NYSE: KBWY), PowerShares KBW High Dividend Yield Financial Portfolio (NYSE: KBWD), PowerShares KBW International Financial Portfolio (NYSE: KBWX), and PowerShares KBW Property & Casualty Insurance Portfolio (NYSE: KBWP).

The PowerShares KBW Premium Yield Equity REIT Portfolio (NYSE: KBWY) is based on the KBW Premium Yield Equity REIT Index. The Fund will normally invest at least 90% of its total assets in securities that comprise the Underlying Index. The Underlying Index is constructed by KBW using a dividend yield weighted methodology that seeks to reflect the performance of approximately 24 to 40 small- and mid-cap equity REITs in the United States.

The PowerShares KBW High Dividend Yield Financial Portfolio (NYSE: KBWD) is based on the KBW Financial Sector Dividend Yield Index and is constructed by KBW using a dividend yield weighted methodology that reflects the performance of approximately 24 to 40 publicly listed financial companies that are principally engaged in the business of providing financial services and products. Those sectors are banking, insurance and diversified financial services in the United States. The Index may also include securities of business development companies and equity and mortgage REITs.

The PowerShares KBW International Financial Portfolio (NYSE: KBWX) is based on the KBW Global ex-U.S. Financial Sector Index and is comprised of American Depository Receipts (ADRs). This index is a modified market capitalization weighted index that tracks the performance of approximately 60 non-U.S. financial companies that are principally engaged in the business of providing financial services and products, including banking, insurance and diversified financial services.

The PowerShares KBW Property & Casualty Insurance Portfolio (NYSE: KBWP) is based on the KBW Property & Casualty Index and is a modified market capitalization weighted index that seeks to reflect the performance of approximately 24 property and casualty insurance companies.

JON C. OGG

About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.