Dow Jones Indexes announced that Charles Schwab has licensed the Dow Jones U.S. Mid-Cap Total Stock Market Index and the Dow Jones U.S. Select REIT Index in an expansion of Schwab’s proprietary exchange-traded funds (ETFs) platform..…
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Schwab launched the Schwab U.S. REIT ETF™ (SCHH) and the Schwab U.S. Mid-Cap ETF™ (SCHM), both of which began trading on January 13, 2011, on NYSE Arca.
The Dow Jones U.S. Mid-Cap Total Stock Market Index is a subset of the Dow Jones U.S. Total Stock Market Index, which measures all U.S. equity securities with readily available prices. The mid-cap index represents the largest 500 stocks after the top 500. It is float-market-capitalization weighted.
The Dow Jones U.S. Select REIT Index measures U.S. REITs and REIT-like securities and aims to serve as a proxy for direct investment in REITs. It screens for market capitalization, liquidity and the percentage of revenue derived from ownership and operation of real estate securities. The index is float-market-capitalization weighted.
In November 2009, Dow Jones Indexes announced that Schwab had licensed five Dow Jones U.S. Total Stock Market Size and Style indexes to underlie the domestic portion of Schwab’s first-ever suite of ETFs.
“Schwab’s decision to again license our indexes as it expands its ETF platform underscores Dow Jones Indexes’ position as a premier provider of equity indexes,” said Michael A. Petronella, president of Dow Jones Indexes. “We’re proud to work with a market leader such as Schwab as it provides investors with greater access to important segments of the U.S. stock market.”
Tamara Bohlig, vice president of product management at Schwab, said: “Our newest ETFs are part of Schwab’s ongoing commitment to offering broad exposure to core market segments at a compelling value. We are pleased that Dow Jones Indexes is once again working with Schwab to help us to achieve our goals.”
As of year-end 2010, the Dow Jones U.S. Mid-Cap Total Stock Market Index climbed 23.59% from year-end 2009, while the Dow Jones U.S. Select REIT Index rose 23.32% over the same period of time.
Source: ETFWorld – Dow Jones Indexes
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