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Nasdaq today announced that Invesco PowerShares will list a new exchange-traded fund, PowerShares DB Optimum Yield Diversified Commodity Strategy Portfolio (Symbol:PDBC), on The Nasdaq Stock Market. PDBC will begin trading today, November 7th, 2014.
"Invesco PowerShares has enjoyed a long and successful relationship with Nasdaq," said Dan Draper, Head of Invesco PowerShares. "We're pleased to once again work with Nasdaq for today's listing of our newest smart beta ETF."
PDBC expands Invesco PowerShares' suite of smart beta exchange-traded funds to 82 portfolios. As the fourth largest provider of ETFs in the US and globally, Invesco PowerShares is recognized as a pioneer behind the smart beta revolution, having introduced many of the first smart beta strategies, and currently offers 60 smart beta ETFs with track records greater than 5-years.
"PDBC provides broad and efficient exposure to commodities with the added benefit of eliminating Scheduled K-1 requirements," said Lorraine Wang, Invesco PowerShares Head of Global ETF Products & Research. "Institutional investors allocate commodities into portfolios as an inflation hedge, and for the benefit of low correlation to stocks and bonds."
PDBC seeks to outperform its benchmark through actively managed investments in commodity-linked futures contracts. PDBC provides exposure to components of the DBIQ Optimum Yield Diversified Commodity Index Excess Return (Benchmark) which is composed of futures contracts on 14 heavily traded commodities across the energy, precious metals, industrial metals and agriculture sectors.
"We are delighted to welcome PowerShares' new exchange-traded fund to their product suite listed on The Nasdaq Stock Market," said Walt Smith, Vice President, Head of U.S. Equities at Nasdaq. "We value our partnership with Invesco PowerShares and will continue to offer our end-to-end support as they expand their innovative product offering."
Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services. As the home to some of the world's most innovative ventures, Nasdaq generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.
