No stock accounts for more than 3.33% of the index’s weight. Current holdings include familiar names such as Apple (NasdaqGS: AAPL), Dow component Coca-Cola (NYSE: KO) and Colgate-Palmolive (NYSE: CL).

Investors would do well to acknowledge the potency of stock splits.

“The academic studies of stocks undergoing splits suggest that you could beat the market by simply creating a portfolio that contained all stocks undergoing a so-called forward split (the opposite of a reverse split). But MacNeale believes he can do even better by investing only in stocks that, at the time of their splits, are trading for relatively low ratios of price to earnings or book value ,” writes Mark Hulbert for MarketWatch.

And while the concept of an ETF devoted to stock split is sure to ruffle the feathers of some ETF traditionalists, it cannot be forgotten that ETFs focusing on concepts such as buybacks and spin-offs have not only proven popular with investors, but have also soundly outpaced the broader market as well. [Spin-Off ETF Looks to Resume Out-Performance]

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Apple.