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Rydex launches six equal weight ETFs

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Rydex has launched six equal weight exchange-traded funds, which weight investment holdings equally across either index constituents and/or market segments

The firm’s flagship ETF, Rydex S&P Equal Weight ETF, was launched in 2003 and has grown to approximately USD2bn in assets under management. 

The addition of these six new ETFs brings Rydex’s total number of equal weight ETFs to 16 and total number of exchange-traded products to 34. 

The new ETFs, which have begun trading on the NYSE Arca, are:

• Rydex Russell 1000 Equal Weight ETF
• Rydex Russell 2000 Equal Weight ETF
• Rydex Russell Midcap Equal Weight ETF
• Rydex MSCI EAFE Equal Weight ETF
• Rydex MSCI Emerging Markets Equal Weight ETF

In addition, the Rydex MSCI All Country World Equal Weight ETF is estimated to begin trading on 12 January 2011.

"Equal weight ETFs offer a compelling alternative to traditional market cap-weighted ETFs," says Mike Byrum, chief investment officer, quantitative strategies for Rydex. "Not only do equal weight funds employ a disciplined quarterly rebalance, a practice which can result in selling high and buying low, they also offer increased diversification* advantages across the constituents within each index."

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