Powershares Debuts 9 Fundamental ETFs

SAN DIEGO (ETFguide.com) - Powershares announced the launch of a suite of nine fundamental style exchange-traded funds (ETFs) based on the RAFI Fundamental US Style Index Series.

Seven of the funds are already existing Powershares funds that are being rebranded with new names and will be following new indexes.

“INVESCO Powershares currently offers six equity ETFs based on the Fundamental methodology and they have all outperformed their respective market cap-weighted benchmarks since their inception,” said John Feyerer, the head of product strategy and research at INVESCO Powershares. “We believe investors seeking precise style classification with the potential for improved performance will have affinity for the Powershares Fundamental Pure Style ETFs.”

The newly launched funds, along with their corresponding ticker symbols are:

--Powershares Fundamental Pure Large Value Portfolio (NYSEArca: PXLV)
--Powershares Fundamental Pure Large Growth Portfolio (NYSEArca: PXLG)

The name changes, along with corresponding tickers for the existing funds are:

Previous Name: Powershares Dynamic Mid-Cap Value Portfolio (NYSEArca: PWP)
New Name: Powershares Fundamental Pure Mid Value Portfolio (NYSEArca: PXMV)

Previous Name: Powershares Dynamic Small Cap Value (NYSEArca: PWY)
New Name: Powershares Fundamental Pure Small Value Portfolio (NYSEArca: PXSV)

Previous Name: Powershares Dynamic Large Cap Portfolio (NYSEArca: PJF)
New Name: Powershares Fundamental Pure Large Core Portfolio (NYSEArca: PXLC)

Previous Name: Powershares Dynamic Mid-Cap Portfolio (NYSEArca: PJG)
New Name: Powershares Fundamental Pure Mid Core Portfolio (NYSEArca: PXMC)

Previous Name: Powershares Dynamic Small Cap Portfolio (NYSEArca: PJM)
New Name: Powershares Fundamental Pure Small Core Portfolio (NYSEArca: PXSC)

Previous Name: Powershares Dynamic Mid-Cap Growth Portfolio (NYSEArca: PWJ)
New Name: Powershares Fundamental Pure Mid Growth Portfolio (NYSEArca: PXMG)

Previous Name: Powershares Dynamic Small Cap Growth Portfolio (NYSEArca: PWT)
New Name: Powershares Fundamental Pure Small Growth Portfolio (NYSEArca: PXSG)

The annual expense ratio for each of the Fundamental ETFs is 0.39%

Powershares has made another change to their lineup by liquidating two of their actively managed funds that were unable to gain any traction among investors. The following funds will stop trading on September 30th, 2011:

--The Powershares Active Alpha Multi-Cap Fund (NYSEArca: PQZ)
--The Powershares Active Alpha Q Fund (NYSEArca: PQY)

Additional News and Name Changes:

Deutsche Bank also announced name changes for their suite of 5 TDX Independent Funds, which will now be a part of their db-X lineup. The tickers and the underlying indexes for each of the funds have not changed. Each of the Funds will still correspond to a specific target date, and will be recognized as the db-X Target Date Funds.

“Broadening the base of funds on our db-X platform reinforces Deutsche Bank’s commitment to expanding our product offerings and increasing the variety of investments that we provide to the U.S. market,” said Martin Kremenstein, the Chief Investment Officer of Deutsche Bank.

The new names for each of the db-X Target Date funds, along with their corresponding ticker symbols are:

Previous Name: TDX Independence 2010 ETF
New Name: db-X 2010 Target Date Fund (NYSEArca: TDD)

Previous Name: TDX Independence 2020 ETF
New Name: db-X 2020 Target Date Fund (NYSEArca: TDH)

Previous Name: TDX Independence 2030 ETF
New Name: db-X 2030 Target Date Fund (NYSEArca: TDN)

Previous Name: TDX Independence 2040 ETF
New Name: db-X 2040 Target Date Fund (NYSEArca: TDV)

Previous Name: TDX Independence In-Target ETF
New Name: db-X In-Target Date Fund (NYSEArca: TDX)

Deutsche Bank's db-X group now has $67 billion in assets and more than 200 exchange-traded products globally.