Other ETFs have surfaced in recent years in the U.S. mega cap space with many of these products tracking non-price weighted indexes, but instead equal weighted, fundamentally weighted, or market capitalization weighted methodologies.

Included are OEF (iShares S&P 100 Index), MGK (Vanguard Mega Cap 300 Growth), XLG (Rydex Russell Top 50), MGV (Vanguard Mega Cap 300 Value), MGC (Vanguard Mega Cap 300), IWX (iShares Russell Top 200 Value), IWL (iShares Russell Top 200), NY (iShares NYSE 100), PMA (PowerShares Active Mega Cap), and a newer entry, FMK (First Trust Mega Cap AlphaDEX).

For those portfolio managers that want to focus on blue chip exposure to U.S. equities, and generally these ETFs also offer appealing dividend yields since many of the mega cap companies have long histories of distributing steady dividends, any of the aforementioned ETFs may present a compelling alternative in the space.

SPDR Dow Jones Industrial Average ETF

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