The providers keep the brilliant exchange traded fund(ETF) ideas coming, and this week is no exception.

Index provider Russell Investments launched a series of domestic and global equal-weighted equity indexes today that will eventually become benchmarks to more than a dozen Rydex/SGI ETFs that are in the making.

Cinthia Murphy for Index Universe reports that the new indexes add a twist to conventional equal-weighting methodology by first allocating equally between nine industry sectors—consumer discretionary, consumer staples, energy, financial services, health care, materials and processing, producer durables, technology and utilities—then allocating equally to companies within those sectors. [5 New Filings from PowerShares.]

The goal is to deliver well-rounded exposure while providing sector representation. No sector will account for more than 11% of assets.

Meanwhile, Andrea Hotter for The Wall Street Journal reports that BlackRock has filed to launch a physical copper ETF. The ETF will be backed by London Metal Exchange warrants, which are documents of possession for each lot of LME-approved metal officially held in a warehouse. No date has been announced. [New ETF Providers May Change The Industry.]

Read the disclaimer; Tom Lydon is a board member of Rydex|SGI.

Tisha Guerrero contributed to this article.

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.