The PowerShares Global Water Portfolio (AMEX: PIO), an international water ETF, has launched, constructed by the founders of the US-based water index, PowerShares Water Resources (PHO).
PIO is a modified equal-dollar weighted index that consists of companies worldwide that are engaged in the water industry. It currently consists of 41 stocks from 14 countries.
The new ETF faces competition from recently launched First Trust ISE Water Index Fund (AMEX: FIW) and CLAYMORE ETF TRUST 2 (AMEX: CGW).
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