The New York Stock Exchange is set to list the first exchange-traded funds tracking NYSE stock indexes in early April. Barclays Global Investors will be the fund manager, and the two ETFs will track the NYSE Composite index and the NYSE U.S. 100 index, which is comprised of the largest 100 stocks on the exchange.
NYSE-listed U.S. companies represent 81.3% of the market capitalization and 87.2% of the revenues for all U.S. companies, according to the exchange.
The NYSE Composite Index is designed to measure the performance of all common stocks listed on the NYSE, including ADRs, REITs and tracking stocks. Under the new methodology, all closed-end funds, ETFs, limited partnerships, and derivatives are excluded from the index. The NYSE Composite consists of about two thousand U.S. and non-U.S. stocks, and the index is weighted using free-float market capitalization.
The iShares NYSE Composite will have an expense ratio of 0.25%.
The companies in the NYSE U.S. 100 index have a market capitalization of $5.95 trillion, which covers 47% of the entire market capitalization of U.S. companies and over 62% of U.S. companies listed on the NYSE, according to the exchange.
The iShares NYSE 100 will have an expense ratio of 0.20%.