Bringing you live news and features since 2006 

Zacks Index Services launches Summit Zacks Global Water Index

RELATED TOPICS​

Zacks Index Services has launched the Summit Zacks Global Water Index, a factor-based global water index which will serve as the basis for the Summit Water Infrastructure Multifactor ETF, trading on the New York Stock Exchange (NYSE) under the symbol WTRX.

This is the first and only global water index with a weighting scheme based on dividend yield rather than market capitalisation and exemplifies a "smart" selection process that enhances the overall yield of the index.
 
The Summit Zacks Global Water Index uses a proprietary, three-factor model that ranks specific data points that have been determined through rigorous testing and experience to be the most relevant to company valuation and profitability in the global water industry.
 
The index was created in collaboration with Summit Water Capital Advisors, which has been designing investment strategies in the global water industry for 30 years.
 
"We are excited to partner with Summit Water, an expert in the global water industry, to create this unique, multifactor index that taps into a core investment theme," says Jamie Adams, managing director of Zacks Index Services. "Zacks has continued to leverage its years of investment research and practice to create this unique strategy that offers access to a global portfolio of water industrials and water utilities in a single product wrapper."
 
"As opposed to passive water indices that are constructed through various measures of market capitalisation, equities are selected for inclusion in the Index by a proprietary formula of relevant company fundamentals including measures of price/earnings, intrinsic value, and return on capital," says Matt Dickerson, CEO of Summit Water Capital Advisors. "Through this methodology, the index targets a more balanced and representative exposure to the global water industry that encompasses several world markets and broader capitalisation levels, as opposed to a less-diversified basket of the largest, most expensive stocks."

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Ryan McCormack, Invesco
This year sees the 25th anniversary of Invesco’s QQQ, the USD240 billion ETF – the fifth largest ETF in the...
ETFs
The European ETF market achieved a record 28 per cent growth – reaching over USD1.8 trillion assets under management (AUM)...
Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by