The PowerShares Fundamental Pure Small Growth Portfolio (NYSEArca: PXSG) will change its name to the PowerShares Russell 2000 Pure Growth Portfolio as it moves to the Russell 2000 Pure Growth Index from the RAFI Fundamental Small Growth Index.
The PowerShares NYSE Century Portfolio (NYSEArca: NYCC) will drop the NYSE Century Index for the Dow Jones U.S. Contrarian Opportunities Index and will become the PowerShares Contrarian Opportunities Portfolio. The ETF’s new ticker will be CNTR and its expense ratio is being reduced to 0.35% from 0.5%.
The are anticipated to go into effect at the close of markets on May 22, 2015, according to a statement issued by PowerShares.
The index changes mark a growing partnership between PowerShares and Russell Indexes, one that has been solidified with the rapid rise of the PowerShares Russell 1000 Equal Weight Portfolio (NYSEArca: EQAL). EQAL, which debuted in late December, tracks the Russell 1000 Equal Weight Index, an index applies an equal weight to nine sectors and then assigns an equal weight to each security from those sector. EQAL is not yet three months old, but the ETF has pulled in over $148 million in assets this year. [Fast Start for a new Equal-Weight ETF]
PowerShares will maintain its lengthy partnership with Research Affiliates through the $4.4 billion PowerShares FTSE RAFI US 1000 Portfolio (NYSEArca: PRF), among other ETFs.
ETF Trends editorial team contributed to this article.