At the end of June, powerhares asset management, headquartered in Wilton, Illinois, has launched eight Exchange traded funds based on these indexes. Each fund tracks 30 stocks in the target industry based on the company's own research to achieve returns that exceed market performance.
In the US stock exchange, 24 funds have been launched this year, while in 2003, only seven funds were listed.
according to Morningstar, an independent investment research firm based in Chicago, 177 exchange traded funds were listed in the United States on August 31, with net assets of $255 billion. In the same period last year, there were 143 funds with total assets of $174 billion. In 2002, there were only 97 ETFs with a net worth of $89 billion.