Dow Jones Indexes has launched five indexes which have been licensed to BMO Financial Group, a Canadian financial services company, to underlie exchange-traded funds.
The indexes are: the Dow Jones North America Select Junior Oil, the Dow Jones North America Select Junior Gas, the Dow Jones Canada Select Equal Weight Reit, the Dow Jones US Large-Cap Health Care Equal Weight Total Stock Market, and the Dow Jones US Large-Cap Banks Equal Weight Total Stock Market indexes.
The BMO ETFs are available on the Toronto Stock Exchange.
"This is the first time Canadian investors will be able to monitor certain highly sought-after sectors with indexes that are created in a way that is unique to the Canadian market place," says Michael A. Petronella, president designate, Dow Jones Indexes. "By licensing the indexes, BMO expands on its existing range of small-cap products. The large-cap indexes will provide investors with windows on sectors in which each company contributes equally to the performance of the index."
The Dow Jones North America Select Junior Oil and the Dow Jones North America Select Junior Gas indexes measure the performance of US and Canadian companies in the oil and gas producers and the oil-equipment, services and distribution sectors.
The Dow Jones Canada Select Equal Weight Reit Index provides an equal-weighted measure of Canadian companies in the real estate investment trusts sector.
The Dow Jones US Large-Cap Health Care Equal Weight Total Stock Market Index provides an equal weighted measure of US large-cap stocks in the health care industry, while the Dow Jones US Large-Cap Banks Equal Weight Total Stock Market Index provides an equal-weighted measure of US large-cap banks.
The Dow Jones North America Select Junior Gas Index and the Dow Jones North America Select Junior Oil Index are weighted by float-adjusted market capitalisation and reviewed on an annual basis in December. The Dow Jones Canada Select Equal Weight Reit Index is equal-weighted and reviewed semi-annually in June and December. The Dow Jones US Large-Cap Health Care Equal Weight Total Stock Market Index and the Dow Jones US Large-Cap Banks Equal Weight Total Stock Market Index are both equal-weighted and reviewed semi-annually in March and September.
