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The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that The NASDAQ Stock Market® (NASDAQ®) has listed two new exchange-traded funds (ETFs) sponsored by Global X Funds, a leading New York-based provider of ETFs.
The ETFs are based on two new non-financial NASDAQ indexes: the NASDAQ-400 Index (NDX400), which is designed to track the performance of securities that are next-eligible for inclusion into the NASDAQ-100 Index®, and the NASDAQ-500 Index (NDX5000), which is designed to track the top 500 non-financial securities listed on NASDAQ.
Effective today, NASDAQ listed the following ETFs:
- Global X NASDAQ 400 Mid Cap ETF (Nasdaq:QQQM) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the NASDAQ-400 Index.
- Global X NASDAQ 500 ETF (Nasdaq:QQQV) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the NASDAQ-500 Index.
The NASDAQ-500 Index and the NASDAQ-400 Index have no direct exposure to financial companies, as the financial sector has lost more than 40% of its value in the past ten years*.
"Global X Funds is a leading provider of investment management products and NASDAQ is pleased to license our new non-financial indexes to them and list their latest ETFs," said John Jacobs, Executive Vice President, NASDAQ OMX Global Index Group. "By listing on NASDAQ, these ETFs will receive extremely high levels of support in order to maximize their liquidity and visibility."
"We are pleased to be pairing with NASDAQ OMX, a recognized leader in the development of innovative indices, to bring these products to market," said Bruno del Ama, CEO of Global X Funds. "Both new funds expand the coverage beyond the NASDAQ 100 Index®, providing greater diversification and possibly capturing the next Apple or Google."
