PowerShares plans to market a payout ETF, reports Index Universe.

PowerShares S&P 500 High Dividend Portfolio will compete with established funds like the $9.12 billion State Street Global Advisors’ SPDR S&P Dividend ETF and the $1.6 billion iShares High Dividend Equity Index Fund. This is not the firm's first high yield ETF. It's benchmark is the S&P 500 High Dividend Index.

This payout ETF will hold 75 securities found in its benchmark, fully replicating it's underlying index. No fees were included in the SEC filings.  

Edited by: HFD


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