PowerShares reportedly plans to transform a bevy of its ETFs and the moves include changing out indexes and strategies, and slashing fees.
On June 16th, PowerShares is dropping the IntelliDex indexes and will use fundamentally weighted RAFI indexes instead. The Dynamic Intellidex strategies use a modified, equal-dollar-weighted methodology. Along with new indexes and strategies, the seven funds, which span small-, mid-and large-cap core, growth and value strategies, will also get new names and tickers, says Hannah Glover for Ignites.
PowerShares is also keeping the competition stiff with the slashing of some of their ETF fees. This is a direct response to the likes of Charles Schwab, and Vanguard, who are upping the ante in the industry with low-cost ETFs.
The new changes to the ETFs are below:
Old Expense Ratio
New Expense Ratio
|Dynamic Large Cap Portfolio||PJF||Fundamental Pure Large Core Portfolio||PXLC||0.65||0.39|
|Dynamic Mid Cap Growth Portfolio||PWJ||Fundamental Pure Mid Growth Portfolio||PXMG||0.63||0.39|
|Dynamic Mid Cap Portfolio||PJG||Fundamental Pure Mid Core Portfolio||PXMC||0.65||0.39|
|Dynamic Mid Cap Value Portfolio||PWP||Fundamental Pure Mid Value Portfolio||PXMV||0.63||0.39|
|Dynamic Small Cap Growth Portfolio||PWT||Fundamental Pure Small Growth Portfolio||PXSG||0.63||0.39|
|Dynamic Small Cap Portfolio||PJM||Fundamental Pure Small Core Portfolio||PXSC||0.65||0.39|
|Dynamic Small Cap Value Portfolio||PWY||Fundamental Pure Small Value Portfolio||PXSV||0.63||0.39|
Tisha Guerrero contributed to this article.