Rydex has announced that it is launching six new exchange traded funds. These ETFs are equal-weight ETFs around the Russell indexes and around emerging markets. Rydex will now have 16 equal-weight ETFs and its total number of exchange traded products will now be 34. Assets under management are listed as being over $6 billion.
The new launches are as follows:
- Rydex Russell 1000 Equal Weight ETF (EWRI)
- Rydex Russell 2000 Equal Weight ETF (EWRS)
- Rydex Russell Midcap Equal Weight ETF (EWRM)
- Rydex MSCI EAFE Equal Weight ETF (EWEF)
- Rydex MSCI Emerging Markets Equal Weight ETF (EWEM)
The company has also announced that the the Rydex MSCI All Country World (ACWI) Equal Weight ETF (EWAC) is estimated to begin trading on January 12, 2011.
What makes the equal-weight strategy different is that most indexes are market-cap weighted. The DJIA is actually a share price-weighted index. Generally speaking, equal-weight indexes offer broader diversification over market-cap-weighted ETFs.
We have said over and over that there is becoming an ETF for almost any and every strategy. In the world of ETF and ETN investing, these can be many ways to skin the same cat.
You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
Top Gaining Stocks
Top Losing Stocks