Russell announces launch of two new high-dividend ETFs

By Toni Weeks

San Diego, March 8 - The Russell Exchange Traded Funds Trust announced it has launched the Russell High Dividend Yield ETF and the Russell Small Cap High Dividend Yield ETF, according to an N-1A filing with the Securities and Exchange Commission.

Both funds trade on the NYSE Arca. The High Dividend ETF trades under the symbol "HDIV," and the Small Cap High Dividend ETF trades under the symbol "DIVS."

The Russell High Dividend Yield ETF seeks investment results that closely correspond to the total return of the Russell U.S. Large Cap High Dividend Yield Index, which is designed to select securities with high dividend yields. The fund will normally invest at least 80% of its total assets in securities that comprise the index.

The fund's total annual fund operating expenses will run 0.33%, consisting solely of a management fee.

The Russell Small Cap High Dividend Yield ETF seeks investment results that closely correspond to the total return of the Russell U.S. Small Cap High Dividend Yield Index, which is designed to select securities with high dividend yields. It will normally invest at least 80% of its total assets in securities that comprise the index.

Its total annual fund operating expenses will run 0.38%, consisting solely of a management fee.

Rich Johnson will serve as the portfolio manager of both funds.

Seattle-based Russell Investment Management Co. is the funds' investment adviser.

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