The KBW Nasdaq family of indexes and KBW Exchange-Traded Funds (ETFs) provide investors with a method to track the performance of the Banking, Broker/Dealer, Asset Management, Insurance, Financial Technology, and Equity REITs sectors within the financial services industry. The Indexes comprise publicly traded companies, and the components are generally chosen on the basis of relevance to the particular market sector and various trading criteria. The ETFs are based on a specific index and track the performance of that index by holding in its portfolio either the securities replicating the index or a representative sample of the securities in the index. The table below shows the KBW Nasdaq family of indexes and ETFs. Click on an Index or ETF symbol below for additional information.
KBW and Nasdaq maintain and publish analysis on the KBW Nasdaq family of indexes. These indexes are intended to provide industry benchmarks for the specific sectors within the financial industry.
The KBW Nasdaq family of indexes currently includes one global financial index and eight U.S. financial sector indexes. The U.S. financial sector indexes serve as the basis for a family of ETFs through our partnership with INVESCO PowerShares as well as for a European ETF through our partnership with Source. From time to time, our trading desk may act as a market maker in these ETFs.
|Index Symbol||Index Name||ETF Symbol||ETF Name||Methodology|
|BKX||KBW Nasdaq Bank Index||KBWB||PowerShares KBW Bank Portfolio||Modified Market-Cap Weighted|
|KSX||KBW Nasdaq Capital Markets Index||N/A||N/A||Modified Market-Cap Weighted|
|KDX||KBW Nasdaq Financial Sector Dividend Yield Index||KBWD||PowerShares KBW High Dividend Yield Financial Portfolio||Modified Yield Weighted|
|KFTX||KBW Nasdaq Financial Technology Index||FTEK LN||Source KBW NASDAQ Fintech UCITS ETF||Equal Weighted|
|GBKX||KBW Nasdaq Global Bank Index||N/A||N/A||Equal Weighted|
|KIX||KBW Nasdaq Insurance Index||N/A||N/A||Modified Market-Cap Weighted|
|KYX||KBW Nasdaq Premium Yield Eq. REIT Index||KBWY||PowerShares KBW Premium Yield Equity REIT Portfolio||Modified Yield Weighted|
|KPX||KBW Nasdaq Property & Casualty Insurance Index||KBWP||PowerShares KBW Property & Casualty Insurance Portfolio||Modified Market-Cap Weighted|
|KRX||KBW Nasdaq Regional Banking Index||KBWR||PowerShares KBW Regional Banking Portfolio||Modified Market-Cap Weighted|
Note: Not all of the listed securities may be suitable for retail investors; in addition, not all of the listed securities may be available to U.S. investors. European investors interested in FTEK LN can contact Source at www.sourceetf.com. U.S. investors cannot buy or hold Source ETFs.
An investor cannot invest directly in an index.
N/A - There is no ETF associated with this index.
KBW Nasdaq Indexes Rules for Index Management. Please click here for the Indexes methodology.
Please click here to see press releases related to the KBW Nasdaq indexes.
For further information on KBW Nasdaq Indexes, please e-mail firstname.lastname@example.org.
The following indexes: U.S.: KBW Nasdaq Bank Index (BKX), KBW Nasdaq Insurance Index (KIX), KBW Nasdaq Capital Markets Index (KSX), KBW Nasdaq Regional Banking Index (KRX), KBW Nasdaq Property & Casualty Index (KPX), KBW Nasdaq Financial Technology Index (KFTX), KBW Nasdaq Premium Yield Equity REIT Index (KYX); KBW Nasdaq Financial Sector Dividend Yield Index (KDX); and Global: KBW Nasdaq Global Bank Index (GBKX), are the property of KBW and Nasdaq.
KBW and Nasdaq do not guarantee the accuracy and/or completeness of the indexes, make no express or implied warranties with respect to the indexes and shall have no liability for any damages, claims, losses, or expenses caused by errors in the index calculation. KBW and Nasdaq make no representation regarding the advisability of investing in options on the Index. Past performance is not necessarily indicative of future results.
ETFs-Important Disclosures: The shares ("Shares") of ETFs are not sponsored, endorsed, sold, or promoted by KBW. KBW makes no representation or warranty, express or implied, to the owners of the Shares or any member of the public regarding the advisability of investing in securities generally or in the Shares particularly or the ability of its Indexes to track general stock market performance. The only relationship of KBW to Invesco PowerShares Capital Management LLC is the licensing of certain trademarks and trade names of KBW and its Indexes which are determined, composed, and calculated by KBW without regard to Invesco PowerShares Capital Management LLC, the fund, or the Shares. Additionally, KBW and The NASDAQ OMX Group, Inc. ("Nasdaq") are parties to an agreement (the "Nasdaq Agreement") whereby KBW has given Nasdaq the power and authority to license certain trademarks and trade names of KBW and its Indexes, including Source UK Services Limited ("Source") and potential future Licensees. KBW has no obligation to take the needs of Invesco PowerShares Capital Management LLC or any other current or future Licensee or the owners of the shares into consideration in determining, composing, or calculating the Indexes. KBW is not responsible for and has not participated in any determination or calculation made with respect to issuance or redemption of the Shares. KBW has no obligation or liability in connection with the administration, marketing, or trading of the Shares.
Compensation. KBW and Invesco PowerShares Capital Management LLC are parties to an index licensing agreement wherein KBW licenses its Indexes to Invesco PowerShares Capital Management LLC and KBW receives as compensation payments based on the amount of assets under management in the ETFs (which the licensed Indexes underlie) and which may be recommended in this report. Pursuant to the Nasdaq Agreement, KBW similarly receives as compensation payments based on the amount of assets under management in any Licensee ETFs (which the licensed Indexes underlie) and which may or may not also be recommended in this report.
ETF and Index Reports. The author of index and related ETF reports is the Director of KBW´s Research Department, who is also the head of the KBW Index Committee. This Index Committee selects index components for the indexes upon which the recommended ETFs are based.
ETF Risks. There are risks involved with investing in ETFs, including possible loss of money. ETFs may not always trade or price as expected. Generally, security classifications used in calculating allocation tables are as of the last trading day of the previous month. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Diversification does not ensure a profit and may not protect against loss in declining markets. Investors should refer to the individual ETF prospectus for a more detailed discussion of the specific risks and considerations for an individual ETF.
Investing in a single sector may be subject to more volatility than funds investing in a diverse group of sectors. Brokerage commissions and ETF expenses will reduce returns. In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETFs may be bought and sold on the exchange through any brokerage account, ETFs are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only, please see the prospectus (link below) for more details. Shares are not actively managed and are subject to risks including those regarding short selling and margin maintenance requirements. Past performance is not necessarily indicative of future results.
An investor should consider the Funds´ investment objectives, risks, charges and expenses carefully before investing. This and other information can be found in their prospectuses. Not all ETFs may be suitable for retail investors. Individual ETFs may not be available for sale in all jurisdictions. For this and more complete information about the U.S. Funds, call InvescoPowerShares at 1-800-983-0903 or visit https://www.powershares.com for a prospectus. For more complete information about the non-U.S. Funds, investors should contact Source at https://www.sourceetf.com for a prospectus. The prospectus should be read carefully before investing.
Shares of the ETFs funds are not guaranteed or insured by the FDIC or by another governmental agency; they are not obligations of the FDIC nor are they deposits or obligations of or guaranteed by KBW or Invesco PowerShares Capital Management LLC. ETFs are distributed by Invesco Distributors, Inc. the distributor of the PowerShares Exchange-Traded Fund Trust II. PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC.
This communication is not an offer to sell or a solicitation to buy the securities mentioned. The information relating to any company herein is derived from publicly available sources and Keefe, Bruyette & Woods, Inc. makes no representation as to the accuracy or completeness of such information.