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New ETF Seeks Positive Earnings Surprises

John Spence, MarketWatch, reports a new exchange-traded fund (ETF), listed this week, that tracks an index from Zacks Investment Research, and " targets small companies that have delivered positive earnings surprises in recent quarters, on the expectation that will more come." The new ETF, PowerShares Small-Cap Portfolio (PZJ), trades on the American Stock Exchange. According to Spence, "The Zacks tracking index, which holds 250 U.S. small-cap stocks, is billed as taking a 'semi-active' approach because it doesn't weight companies by size like most traditional indexes." Details can be found in the MarketWatch article.