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Rydex Global Advisors announced yesterday it will start its first exchange-traded fund.
The Rydex S&P Equal Weight ETF, which is based on the
The equal-weight index was developed by Standard & Poors in cooperation with Rydex in January. It is intended to give people an opportunity to invest equally in the 500 leading U.S. companies making up the S&P 500.
The 500 stocks are given equal weight through quarterly rebalancing. The fund is to be listed on the
Rydex sells 34 flexible investment products, including 17 sector funds.
