EQL Profile
The
Alps Equal Sector Weight ETF (EQL) is an exchange-traded fund that
tracks the performance of the NYSE Pickens Oil Response Index. This
index is a rules-based index designed to measure the performance of
companies that could benefit from the passage of the Pickens Plan,
which is a plan designed to reduce U.S. dependence on foreign oil. The
index is comprised of 51 companies that are involved in industries
such as natural gas, electric and hybrid vehicles, and railroads.
EQL seeks to provide investment results that correspond generally
to the price and yield performance of the NYSE Pickens Oil Response
Index. The fund has an expense ratio of 0.45% and as of March 22,
2023, held a total net asset value of $7.45 million.
One of the
unique features of EQL is that it utilizes an equal sector weighting
methodology, meaning that it invests an equal amount of assets in each
of the ten sectors that are represented in the underlying index. This
approach aims to provide broad exposure to companies that could
benefit from the Pickens Plan, while avoiding overconcentration in any
particular sector.
Investors interested in EQL should keep in
mind that the fund is focused on a specific theme, which may carry its
own risks. Additionally, while the fund may provide exposure to
companies that could benefit from the Pickens Plan, it is not a
guarantee that the plan will be implemented or successful. As with all
investments, it is important to carefully consider the risks and
potential rewards before making an investmen
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