The PowerShares exchange traded fund (ETF) family is adding a slew of new members this week.

The PowerShares Global Biotech Portfolio (PBTQ) covers the growth of this industry. The biotech industry has seen increasing growth and revenue base over the past two years. No single name in the fund is allowed to make up more than 8% of the index’s total holdings, reports Eric Rosenbaum for Index Universe.

This ETF joins a growing list of other biotech funds, including one of its own: PowerShares Dynamic Biotech & Genome (PBE). PBE differentiates itself by taking a more active management approach and has a turnover rate of 91% per year.

The new ETF is designed to give transparent, tax-efficient access to some of the most liquid biotech companies on the globe, says Bruce Bond, President and CEO of Invesco.

Also listed today were several funds focused on commodities, which has been a hot area in these volatile markets. Bond says although they’ve been volatile lately, many economists believe that worldwide demand for basic materials will continue to grow:

  • PowerShares Global Agriculture Portfolio (PAGG)
  • PowerShares Global Coal Portfolio (PKOL)
  • PowerShares Global Steel Portfolio (PSTL)
  • PowerShares Global Gold and Precious Metals Portfolio (PSAU)
  • PowerShares Global Progressive Transportation Portfolio (PTRP)

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. 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.

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