Invesco PowerShares Capital Management LLC plans to launch a transportation exchange-traded fund on Sept. 18.
The PowerShares Global Progressive Transportation Portfolio will be listed on the Nasdaq Stock Market and will be based on the Wilder Nasdaq OMX Global Energy Efficient Transport Index, the Invesco Ltd. unit said Tuesday. The index tracks the performance of a global group of companies focused on technologies for greener transportation.
The index includes companies that are listed on global stock exchanges and are involved in alternative vehicles; rail and subway systems; sea, land, air, and intermodal transportation; and transport innovation.
Invesco PowerShares, of Chicago, had $13.95 billion of assets under management at midyear. It manages a family of more than 100 domestic and international index-based and actively managed exchange-traded funds.