NASDAQ OMX Group’s (NDAQ) NASDAQ OMX Global Indexes today announced the launch of two new indices – the NASDAQ IBIS Focused Growth Index (NQIBIS); and the NASDAQ IBIS Focused Growth Total Return Index (NQIBIST).
The NASDAQ IBIS Focused Growth Index will hold exchange traded funds that hold U.S. large- and small-caps as well as developed and emerging markets equities.
“The selection of assets is determined through a proprietary technology for Relative Strength. During periods of weakness across global equity markets, the Index will shift into either short-term, medium-term, or long-term U.S. government bonds, depending upon prevailing interest rates,” according to the index’s web site.
“These new indexes offer the unique viewpoint of accessing an absolute return strategy, while maintaining a rules-based and rigorous selection process,” said Dave Gedeon, Managing Director of NASDAQ OMX Global Indexes, in a statement. “Partnering with IBIS Capital allows the market to benefit from both the tactical allocation models and rules-based index tracking.”
NASDAQ OMX Global Indexes is the index provider for popular ETFs such as the Vanguard Dividend Appreciation ETF (VIG) , PowerShares International Dividend Achievers Portfolio (PID) and the First Trust NASDAQ Technology Dividend Index Fund (TDIV) . [Dividend Achievers Indices Deliver for Investors]
The statement did not say if the new indices will be linked to ETFs.
NASDAQ IBIS Focused Growth Index
Chart Courtesy: NASDAQ OMX Global Indexes
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