Invesco PowerShares Capital Management has changed the names of four DWA Technical Leaders exchange-traded funds.
The funds will continue to be based on Dorsey, Wright & Associates’ index methodology and existing ticker symbols and investment objectives will remain unchanged.
The board has approved the following name changes that will take effect on 4 October 2013:
PowerShares DWA Technical Leaders Portfolio will be the PowerShares DWA Momentum Portfolio; PowerShares DWA SmallCap Technical Leaders Portfolio will be the PowerShares DWA SmallCap Momentum Portfolio;
PowerShares DWA Developed Markets Technical Leaders Portfolio, will be the PowerShares DWA Developed Markets Momentum Portfolio; and
PowerShares DWA Emerging Markets Technical Leaders Portfolio, will be the PowerShares DWA Emerging Markets Momentum Portfolio
“We believe renaming the PowerShares DWA Technical Leaders suite as Momentum ETFs will help investors better understand how they fit within our broader suite of Smart Beta solutions, and ultimately how investors may use them in a portfolio,” says Lorraine Wang, Invesco PowerShares global head of ETF products and research. “Momentum, as measured by relative strength, can be a powerful tool for stock selection. Advisors and investors are using the PowerShares DWA Momentum ETFs both as tactical portfolio allocations and as core holdings to help achieve better risk adjusted returns over time.”
The PowerShares DWA Momentum ETFs, based on the Dorsey Wright & Associates (DWA) technical leaders index methodology, were the first momentum ETFs available in the US marketplace. Since launched in the beginning of 2007, the PowerShares DWA Momentum ETFs have grown to over USD2bn in assets under management as of 24 September 2013.
PowerShares DWA Momentum ETFs are based on “relative strength”, a measure of a stock’s performance in relation to other investment options.
