Rydex Investments plans to roll out nine new equal-weighted sector exchange traded funds (ETFs). On November 7th, Rydex will build on the success of the S&P 500 Equal-Weight ETF (RSP). The new ETFs will cover Consumer Discretionary, Consumer Staples, Energy, Financial, Health Care, Industrial, Materials, Technology and Utilities sectors. "The new funds will let investors spread their bets more broadly across sector components," Index Universe reports. While the funds tilt toward mid-cap, they should not be classified as small-cap funds.
Read the disclosure, as Tom Lydon is a Board member of Rydex Funds.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.