Global X Funds debuts two new NASDAQ ex financials ETFs

Dec 6th, 2011 | By | Category: Equities

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New York-based ETF provider Global X Funds has launched two new exchange-traded funds: the Global X NASDAQ 500 ETF, which tracks the NASDAQ 500 Index, and the Global X NASDAQ 400 Mid Cap ETF, which tracks the NASDAQ 400 Mid Cap Index.

Global X Funds debuts two new NASDAQ ex financials ETFs

Global X Funds debuts two new NASDAQ ex financials ETFs.

The new funds are designed, respectively, to track the performance of 500 of the largest domestic and international non-financial securities and the top 400 mid-capitalization domestic and international non-financial securities listed on the NASDAQ stock exchange.

By excluding financials, Global X Funds hopes investors will be enticed by the return prospects these indices offer. Indeed, between November 2001 and November 2011 the financial sector lost -34.21% of its value, while during the same period technology stocks gained 37.82% and industrials 16.85%.

Global X Funds also notes that in the nine months to September month-end, the NASDAQ 500 and 400 indices outperformed the S&P 500 and 400 indices by more than 3% with similar volatility.

“We are pleased to be pairing with NASDAQ OMX, a recognized leader in the development of innovative indices, to bring these products to market,” said Bruno del Ama, CEO of Global X Funds. “Both new funds expand the coverage beyond the NASDAQ 100 Index, providing greater diversification and possibly capturing the next Apple or Google.”

Speaking at the launch, John Jacobs, Executive Vice President, NASDAQ OMX Global Index Group , commented: “NASDAQ OMX is delighted to license the use of our indexes as benchmarks for the Global X Funds.”

“NASDAQ OMX and Global X Funds share a common goal to provide investors with the chance to access some of the world’s most innovative companies and these new indexes and ETFs are the latest examples of that commitment.”

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