While no stock accounts for more than 1.2% of SPHQ’s weight, several of the names that scored favorably in the S&P Capital IQ screen appear in the ETF’s lineup of 132 equities, including Dow component Walt Disney (NYSE: DIS), McKesson (NYSE: MCK) and Mylan (NYSE: MYL). Although SPHQ allocates just 4.7% of its weight to technology names, one of the ETF’s tech holdings is Qualcomm (NasdaqGS: QCOM), which also appeared in the S&P Capital IQ screen.
SPHQ tracks the S&P 500 High Quality Rankings Index, which “is designed to provide exposure to the constituents of the S&P 500 Index that are identified as stocks reflecting long-term growth and stability of a company’s earnings and dividends,” according to PowerShares.
SPHQ, which charges 0.29% per year, is rated marketweight by S&P Capital IQ. The ETF has $356.7 million in assets under management, up from $342.6 million on March 26.
PowerShares S&P 500 High Quality Portfolio
