The new mid-cap sector ETFs include the Elkhorn S&P MidCap Information Technology Portfolio (Bats: XK), Elkhorn S&P MidCap Health Care Portfolio (Bats: XH) and the Elkhorn S&P MidCap Financials Portfolio (Bats: XF). Each of the Elkhorn funds tracks an index that is the sector derivative of the widely followed S&P MidCap 400.

“Investors tend to construct their equity portfolios using a barbell approach and don’t view mid-caps, i.e. “the middle”, as something differentiated enough to add to their portfolios,” Elkhorn’s Graham Day told TheStreet. “This means they will often construct their equity portfolios with large-caps (relative safety) and small-caps (as a lottery ticket), believing this to be a balanced portfolio resulting in a significant underweight to mid-caps.”

Other members of the Elkhorn mid-cap sector suite include the Consumer Discretionary Portfolio (Bats: XD) and the Elkhorn S&P MidCap Energy Portfolio (Bats: XE).

For more information on mid-caps, visit our mid-cap category.