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Texas ETF Launches: Everything's Bigger in Texas Including Fees

Nov 05, 2009 - 12:32 PM EST

Michael Johnston submits:

OOK Advisors announced the launch of its second exchange-traded fund on Wednesday as the TXF Large Companies Exchange-Traded Fund (TXF) began trading on the NYSE Arca Exchange. The new fund will track the SPADE Texas Index, a benchmark designed to measure the performance of the largest companies headquartered in the state. The index is up about 30% year-to-date, and has outperformed broader market indexes in recent years.

The Texas Index includes about 85 stocks that represent 90% of the market capitalization of companies headquartered in Texas. Not surprisingly, energy companies have a big allocation in the portfolio, including firms such as ConocoPhillips (COP) (5.5%), Exxon Mobil (XOM) (5.0%), and Schlumberger (SLB) (5.3%). But there is a lot more to the index and the ETF than just energy firms. Other holdings include Southwest Airlines (LUV), Burlington Northern (BNI), Whole Foods (WFMI), AT&T (T), Dell (DELL), and DR Horton (DHI).

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Source: Seeking Alpha (Nov 05, 2009 - 12:32 PM EST)