Equal Weight Sector ETF Launches

Today Invesco launched an equal-weighted version of the new communication services sector in the Global Industry Classification Standard (GICS). The Invesco S&P 500 Equal Weight Communication Services ETF (EWCO) targets the new sector and joins 10 other similar Invesco ETFs that target different sectors.

EWCO comes with an expense ratio of 0.40% and lists on the NYSE Arca.

The communication services sector debuted at the end of September in a move that renamed and expanded the telecommunication services sector, pulling companies from the technology sector and pushing others in the consumer discretionary sector.

According to EWCO’s prospectus, the purpose of the sector is to represent companies that facilitate communication and that offer content and media through various channels. The addition of the sector earlier this year was a massive shakeup of the widely used GICS that is now reflected in Invesco’s lineup of equal-weighted sector funds.

Contact Heather Bell at [email protected]