ETF Watch: Guggenheim Plans Multifactor Fund

The ETF will target a subset of the S&P 500.
Reviewed by: Staff
Edited by: Staff

A new filing from Guggenheim Investments outlines plans for an equal-weighted fund that derives its components from the S&P 500 Index. The Guggenheim Multi-Factor Large Cap ETF selects its 50 components from the S&P 500 based on a composite multifactor score.

The fund’s methodology is designed to select securities with the intention of maximizing returns and diversification, and minimizing risk. The filing does not indicate which factors will be used to select components. The ETF will be rebalanced to equal weightings on a quarterly basis.

The filing says the proposed fund will list on the NYSE Arca; however, it did not include a ticker or expense ratio.

Guggenheim's largest ETF is the Guggenheim S&P 500 Equal Weight ETF (RSP), which has nearly $13 billion in assets under management.

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