Will the exchange traded fund (ETF) industry ever see state-specific funds? There are a number of such funds in registration, and another one has just been added to the mix. Are we any closer, though?

Murray Coleman for Index Universe reports that Oklahoma City-based TXF Funds Inc. is requesting that the Securities and Exchange Commission (SEC) allow it to launch an ETF focused on the largest public companies in Texas.

The details of the ETF include: The initial request is only for the TFX Large Companies ETF. It’s designed to track the SPADE Texas Large Companies Index. The fund would trade on the NYSE Arca and come with annual gross operating expenses of 0.85%. The index would re-balance monthly, and liquidity restrictions and a cap of no more than 10% for any single name would put limitations on the index.

This ETF is just the latest addition in a long line of state-specific ETFs. In registration for awhile have been StateShares, offered by XShares, which are funds that would be focused on an array of states including California, Colorado, Florida, Illinois, Maryland and Ohio. An Oklahoma-focused ETF was to have launched last year as well, but is still in registration. When it launches, it will be known as the Oklahoma Fund (OOK).

For more stories on new funds, visit our New ETFs category.

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.