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The Amex Steel Index is a modified market capitalization-weighted index comprised of publicly traded companies involved primarily in the production of steel products or mining and processing of iron ore. The Amex Environmental Services Index is a modified equal-dollar-weighted index comprised of publicly traded companies that are engaged primarily in consumer waste disposal, removal and storage of industrial by-products and the management of associated resources.
The Amex Steel Index includes common stocks or American Depositary Receipts (ADRs) of selected companies with market capitalizations greater than $100 million that have an average daily volume of at least $1 million over the past three months. The Amex Environmental Services Index includes common stocks or ADRs of selected companies with market capitalizations greater than $100 million, three-month trading price greater than $3.00, and three-month daily average traded value greater than $1 million.
"We are very excited to begin publishing these new indexes covering the steel and environmental services industries," said Cliff Weber, Senior Vice President of the Amex ETF Marketplace. "We look forward to potentially listing exchange traded funds and other products that will offer investors new opportunities to invest in these dynamic industries."
While both STEEL and AXENV are newly-created indexes, historical returns have been calculated on a hypothetical basis since March 30, 2001. Over the five-year period from September 28, 2001 through September 29, 2006, the Amex Steel Index would have had a cumulative return of 285.44% and an annualized return of 30.91%. Over the same five-year period, the Amex Environmental Services Index would have had a cumulative return of 104.41% and an annualized return of 15.34%.
