Many eyes on Wall Street have wandered away from trading screens to follow March Madness and the NCAA men’s basketball tournament.

There exists an ETF that is heavily exposed to a number of companies that are integral parts of the broadcast of the entire March Madness season over the next several weeks, and that fund is PowerShares Dynamic Media (NYSEArca: PBS).

The fund follows the Dynamic Media Intellidex Index, which is a quantitative/fundamentally driven methodology that screens the universe of U.S. equities and ranks and weights them based on investment criteria including fundamental growth, stock valuation, investment timeliness, and risk.

Currently, top weightings of the 31 total holdings in the ETF are TWC (5.42%), CMCSA (5.37%), CBS (5.13%), NWSA (5.00%), and TWX (4.86%).

The equities owned within this fund are not exclusively involved in television or radio broadcasting, but some also have interests in print and internet media as well.

Since inception in 2005, PBS has notably lagged the broad market, as PBS has returned just 1.28% versus the S&P 500’s gain of 18.41% during this same timeframe. Year to date however, PBS is up 13.88% versus the S&P 500 which has rallied 12.25%, and holdings such as TWC, CMCSA, and CBS for instance are challenging multi-year highs.

PowerShares Dynamic Media

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