Invesco PowerShares, an ETF provider known for its alternative or smart beta offerings, rolled out a handful of cheap, traditional beta indexed options under a newly minted PureBeta appellation.
On Friday, PowerShares launched the five new ETFs, including:
- PowerShares PureBetaSM MSCI USA Portfolio (BATS: PBUS), which has a 0.04% expense ratio
- PowerShares PureBetaSM MSCI USA Small Cap Portfolio (BATS: PBSM), which has a 0.06% expense ratio
- PowerShares PureBetaSM FTSE Developed ex-North America Portfolio (BATS: PBDM), which has a 0.07% expense ratio
- PowerShares PureBetaSM FTSE Emerging Markets Portfolio (BATS: PBEE), which has a 0.14% expense ratio
- PowerShares PureBetaSM 0-5 Yr US TIPS Portfolio (BATS: PBTP), which has a 0.07% expense ratio
PBUS tries to reflect the performance of the MSCI USA Index, which is comprised of large- and mid-cap U.S. equities and weights securities by their free float-adjusted market capitalization.
PBSM tries to reflect the performance of the MSCI USA Small Cap Index, which includes small-cap U.S. equities weighted by their free float-adjusted market capitalization.
PBDM tries to reflect the performance of the FTSE Developed ex North America Index, which includes large- and mid-cap developed markets outside North America.
PBEE tries to reflect the performance of the FTSE Emerging Index, which tracks large- and mid-sized companies from emerging countries.