PowerShares Files To Offer Two Equity ETFs

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PowerShares, the Wheaton, Ill.-based fund company best known for its Nasdaq ETF (NasdaqGM:QQQQ), filed with the Securities and Exchange Commission to offer two equity ETFs focused on "high-quality" U.S. companies.

The PowerShares Morningstar StockInvestor Core Portfolio will be based the Morningstar StockInvestor Core Index, which comprises about 50 stocks of high-quality companies selected by Morningstar, the Chicago-based investment research firm, the filing said. The PowerShares S&P 500 High Quality Portfolio will use the S&P 500 High Quality Rankings Index as its benchmark. Constituents in the index are screened for their long-term growth record as well as the stability of their earnings and dividends.

The filing comes at a time when investors are beginning to scour the investment landscape for well-established and dependable companies to ensure decent returns. Equity prices have been rising from their March 2009 lows for more than a year, but investors are bracing for an extended period of anemic growth until U.S. unemployment falls meaningfully from its current rate of more than 9 percent.

Both ETFs have a 0.50 percent annual management fee, according to the filing, which was dated April 29. PowerShares didn't disclose the funds' trading symbols and didn't say when it might launch the two ETFs.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , ETFs

Referenced Stocks: QQQ

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