S&P Dow Jones Indices has tweaked the methodology for its 11 Select Sector indices tracked by $300bn in exchange traded funds in response to large market swings in the technology industry, the index provider has disclosed.
The rebalance was the result of concerns within S&P regarding the continued growth of certain technology stocks such as Apple, Microsoft and Nvidia, the company noted in a September 10 article on its website.
Some 42 ETFs with a combined $303.6bn in assets track Select Sector Indexes, according to data from Morningstar Direct.
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