Compass EMP has listed a new exchange-traded fund, the Compass EMP Developed 500 Enhanced Volatility Weighted Index ETF (CIZ), on The Nasdaq Stock Market.
“It’s exciting to introduce an innovative international, smart beta product that seeks to outperform both traditional indexes as well as active ETFs over the long-term,” says Stephen Hammers, chief investment officer at Compass EMP. “Our latest ETF is focused on the largest 500 international equities, and may offer performance enhancements through fundamental criteria combined with its distinct securities volatility weighting. In addition, this ETF has the ability to liquidate 75 per cent of the securities in the index to cash in the event of a market decline.”
CIZ seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the CEMP International 500 Long/Cash Volatility Weighted Index. CIZ’s investment objective and the Index may be changed without shareholder approval. The index is a passive index and generally consists of the common stock of the 500 largest companies by market capitalisation that have their headquarters in a developed country (excluding the US and emerging markets) and the stock of which trades on an exchange in a developed country (other than the US and emerging markets). The index includes only those companies with consistent positive earnings (at least its four most recent quarters) and is weighted based on the volatility of each stock.
“We’re pleased to welcome Compass EMP’s fifth exchange traded-product (ETP) to their innovative product suite of ETPs listed on The Nasdaq Stock Market,” says Walt Smith, vice president, head of US equities at Nasdaq OMX. “We are committed to increasing the value of our partnership by continuing to facilitate various investment opportunities across multiple asset classes.”