PowerShares has introduced the PowerShares Zacks Micro Cap Portfolio.
The PowerShares ETF will be based on an index from Zacks Investment Research and will also evaluate and remove components on a weekly basis. The anticipated listing on August 18, 2005, will bring the total number of PowerShares ETFs to twenty.
PowerShares Zacks Micro Cap Portfolio (PZI) is based on the Zacks Micro Cap Index (ZAX). The Index is designed to identify a group of micro cap stocks with the greatest potential to outperform passive benchmark micro cap indices and other actively managed U.S. micro cap strategies.
The Zacks Micro Cap Index methodology evaluates 2,300 micro cap stocks to identify the micro cap companies with the greatest capital appreciation potential as determined by Zacks proprietary index methodology.