Invesco's (NYSE:
IVZ) PowerShares ETF business, and State Street's (NYSE:
STT) SPDR ETF unit have settled a dispute stemming from PowerShares' use of similar tickers with its suite of nine small-cap sector ETFs introduced in 2010. SPDR claimed the tickers too closely resembled the tickers used for its Select SPDRs.
For example, the large-cap energy fund is the Energy Select Sector SPDR (NYSE:
XLE). The small-cap equivalent is the PowerShares S&P SmallCap Energy ETF (Nasdaq:
XLES). All nine of the PowerShares simply added"S" to the SPDR tickers, but that wasn't enough for the folks at SPDR.
They filed a legal complaint a few months after the PowerShares funds made their April 2010 debuts, but PowerShares has decided to play nice and change the tickers. The changes, which will take place in late March, are as follows:
PowerShares S&P SmallCap Consumer Discretionary ETF (Nasdaq:
XLYS) New ticker: PSCD
PowerShares S&P SmallCap Consumer Staples ETF (Nasdaq: XLPS) New ticker: PSCC
PowerShares S&P SmallCap Energy ETF (Nasdaq:
XLES) New ticker: PSCE
PowerShares S&P SmallCap Financials ETF (Nasdaq:
XLFS) New ticker: PSCF
PowerShares S&P SmallCap Health Care ETF (Nasdaq: XLVS) New ticker: PSCH
PowerShares S&P SmallCap Industrials ETF (Nasdaq:
XLIS) New ticker: PSCI
PowerShares S&P SmallCap Information Technology ETF (Nasaq: XLKS) New ticker: PSCT
PowerShares S&P SmallCap Materials ETF (Nasdaq: XLBS) New ticker: PSCM
PowerShares S&P SmallCap Utilities & Telecom ETF (Nasdaq: XLUS) New ticker: PSCU
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