Rydex Investments announced a launch of new mega-cap exchange traded fund that tracks the recently created Russell Top 50 Index. Rydex Russell Top 50 ETF (Ticker: XLG), now listed on the American Stock Exchange, is composed of America's biggest companies, representing around 40% of the U.S. total capitalization.

"There is certainly some belief in the market that large-caps have the potential to outperform given current market and economic conditions," said Steve Sachs, director of trading at Rydex. "A mega-cap fund has the potential to provide enhanced returns relative to other major market indices."

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