PowerShares is powering out five additional exchange traded funds (ETFs) to launch September 27th. Four of the five will track fundamentally-weighted indexes developed jointly with FTSE and Research Affiliates. Heather Bell for Index Universe reports that the FTSE RAFI Indexes use four fundamental factors: book value, sales, cash flow and dividends rather than market capitalization to weigh the stocks within the index. These three ETFs are within the small- and mid-cap international segments:

• PowerShares FTSE RAFI Asia-Pacific Index Ex-Japan Small-Mid Portfolio (PDQ)
• PowerShares FTSE RAFI Developed Markets Ex-U.S. Small-Mid Portfolio (PDN)
• PowerShares FTSE RAFI Europe Small-Mid Portfolio (PWD)

PowerShares FTSE RAFI  Emerging Markets Portfolio (PXH) will track the largest stocks within the emerging markets area. PowerShares International Listed Private Equity Portfolio (PFP) is the fifth ETF waiting in the pipeline.

Tags: Dividend ETFs