The new fund tracks the Dow Jones Transportation Average Index and carries an expense ratio of 0.60%, the company said. Barclays Dow Jones family of sector ETFs has nearly $3 billion in assets under management.
The index, a subset of the Dow Jones Composite Average, measures the performance of the transportation sector in the U.S. equity market, which includes airlines, industrial transportation companies and general industrial services companies. ETF shares are like index funds that can be bought and sold like individual stocks through any broker/dealer or financial adviser.
"Investors looking for exposure to transportation can now get it through this new ETF in a cost-effective, tax-efficient manner while diversifying their portfolios," said Lee Kranefuss, chief executive of the San Francisco-based asset managers intermediary business.
