Invesco PowerShares, looking to leverage the success it’s had with its PowerShares S&P 500 Low Volatility Portfolio (NYSE Arca: SPLV), rolled out another two funds in mid-February that serve up low-volatility exposure to different market-capitalization pockets of the market.
The PowerShares S&P MidCap Low Volatility Portfolio (NYSE Arca: XMLV) tracks the S&P MidCap 400 Low Volatility Index, a benchmark that consists of the 80 least-volatile securities found in the broader S&P MidCap 400 Index. In similar fashion, the PowerShares S&P SmallCap Low Volatility Portfolio (NYSE Arca: XSLV) hones in on 120 of the S&P SmallCap 600 Index’s least volatile stocks. The underlying indexes afford greater weightings to the least volatile stocks.
XMLV and XSLV each have a 0.25 percent expense ratio.
PowerShares launched SPLV in May 2011, and the fund has since accumulated over $3 billion in assets.