EPAC Dividend Index Basis For ETF

The Dow Jones EPAC Select Dividend Index has been licensed to Barclays Global Investors to serve as the underlying index for an exchange traded fund (ETF). Last week, the iShares Dow Jones EPAC Select Dividend Index (IDV) launched on the NYSE Arca. According to the press release for CNN Money, this is the first time this index has been used for the basis of an ETF.  The index includes 100 high dividend paying non-U.S. companies in developed markets.  The weighting of stocks within this index is based on annual dividend for component weightings within each country and dividend yield for country weightings.  Component weights are capped to 10% within the index.