PowerShares Files For PowerShares S&P International Developed High Beta Portfolio ETF

PowerShares has filed paperwork with the SEC for a “PowerShares S&P International Developed High Beta Portfolio” (NYSE:IDHB). The Fund seeks investment results that generally correspond (before fees and expenses) to the price and yield of the S&P International Developed High Beta Index. The S&P International Developed High Beta Index is designed to provide exposure to the securities in the S&P Developed Ex-US BMI universe with the highest sensitivity to market returns. Standard & Poor’s estimates the market sensitivity, or beta, of every stock in the S&P International Developed High Beta Index based on its performance over the trailing [12] months. The [100] stocks with the highest sensitivity to market movements comprise the S&P International Developed High Beta Index. For the S&P International Developed High Beta Index, the market is considered to be all of the stocks included in the S&P Developed Ex-US BMI universe. The weight of each stock in the S&P International Developed High Beta Index is proportionate to its beta, rather than to its market capitalization, and index constituents are rebalanced [quarterly]. Standard & Poor’s makes additions to the S&P International Developed High Beta Index only at the time of the quarterly rebalancing. Constituents removed from the S&P Developed Ex-US BMI universe are removed from the S&P International Developed High Beta Index simultaneously.

They did not specify an expense ratio in the initial filing.

Principal Investment Strategies

The Fund will invest at least 90% of its total assets in the securities of companies that comprise the Underlying Index. The Underlying Index is compiled, maintained and calculated by Standard & Poor’s (the “Index Provider”). Strictly in accordance with its existing guidelines and mandated procedures, the Index Provider determines securities of companies for inclusion in the Underlying Index with the highest sensitivity to market returns [over the past 12 months] from the S&P Developed Ex-US BMI universe. Sensitivity is measured by the beta of the stock. Beta is a measure of how closely correlated a stock’s returns are to that of the market, which for the Underlying Index includes all of the stocks included in the S&P International Developed High Beta Index. The Fund generally invests in all of the securities comprising the Underlying Index in proportion to their weightings in the Underlying Index.

For the complete filing click: HERE

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