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New S&P 500 Equal Weight Real Estate Index licensed to Guggenheim for ETF

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S&P Dow Jones Indices (S&P DJI) has launched the S&P 500 Equal Weight Real Estate Index, which has been licensed to Guggenheim Investments to serve as the basis for an exchanged traded fund (ETF).

The index equally weights the index constituents in the S&P 500 that are currently classified in the Global Industry Classification Standard (GICS) Real Estate Industry Group, excluding Mortgage REITs sub-industry. 

As previously announced on 10 November, 2014, a new Real Estate Sector is being created, elevating its current position as an Industry Group under the Financials Sector. The change is scheduled to be implemented after the market close of August 31, 2016 and will bring the number of GICS Sectors to eleven.

"S&P DJI pioneered the concept of smart beta indices with the launch of the S&P 500 Equal Weight Index family," says Philip Murphy, Vice President of North American Equity Indices at S&P Dow Jones Indices. "The launch of the S&P 500 Equal Weight Real Estate Index expands the S&P 500 Equal Weight Index family providing investors with a straightforward alternative to market cap weighted benchmarks for the real estate industry."

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