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Global X Funds launches ETFs linked to new NASDAQ 400 and NASDAQ 500 indexes


Global X Funds, the New York based provider of exchange traded funds, has launched two new funds: the Global X NASDAQ 500 ETF (Ticker: QQQV) and the Global X NASDAQ 400 Mid Cap ETF (Ticker: QQQM). These are the first products linked to the new benchmark indexes on The NASDAQ Stock Market (NASDAQ).

The Global X NASDAQ 500 ETF (Ticker: QQQV) and the Global X NASDAQ 400 Mid Cap ETF (Ticker: QQQM) track the NASDAQ 500 Index and the NASDAQ 400 Index, respectively.

The NASDAQ 500 Index measures the performance of 500 of the largest domestic and international non-financial securities listed on NASDAQ based on market capitalisation. The NASDAQ 400 Index measures the performance of the top 400 mid-capitalisation domestic and international non-financial securities listed on NASDAQ.

Over the past 5+ years, companies in both indexes have demonstrated strong earnings growth and are maturing into profitable companies; earnings growth has been outpacing revenue growth over this time period*. Between November 2001 and November 2011 the financial sector lost -34.21% of its value, and during the same period technology stocks gained 37.82% and industrials 16.85%, based on the longstanding NASDAQ sector indexes, the NASDAQ Computer and NASDAQ Industrial respectively. From January 1 to September 30, 2011, the NASDAQ 500 and 400 indexes outperformed the S&P 500 and 400 indexes by more than 3% with similar volatility*.
“We are pleased to be pairing with NASDAQ OMX, a recognised leader in the development of innovative indices, to bring these products to market,” says Bruno del Ama (pictured), CEO of Global X Funds. “Both new funds expand the coverage beyond the NASDAQ 100 Index, providing greater diversification and possibly capturing the next Apple or Google.”
“NASDAQ OMX is delighted to license the use of our indexes as benchmarks for the Global X Funds,” says John Jacobs, Executive Vice President, NASDAQ OMX Global Index Group. “NASDAQ OMX and Global X Funds share a common goal to provide investors with the chance to access some of the world’s most innovative companies and these new indexes and ETFs are the latest examples of that commitment.”

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