Global X pairs with Nasdaq to offer two new ETFs tied to new indexes

By Toni Weeks

San Diego, Dec. 6 - Global X Funds has introduced two new exchange-traded funds, each based on a new Nasdaq index, according to a press release from Nasdaq OMX Group, Inc.

Both ETFs were listed on Nasdaq Tuesday.

The Global X Nasdaq 400 Mid Cap ETF (Nasdaq: QQQM0) is based on the Nasdaq-400 index, which is designed to track the performance of securities that are next-eligible for inclusion into the Nasdaq-100 index.

The Global X Nasdaq 500 ETF (Nasdaq: QQQV) is based on the Nasdaq-500 index, which is designed to track the top 500 non-financial securities listed on Nasdaq.

Both of the new indexes have no direct exposure to financial companies, because the financial sector has lost more than 40% of its value in the past ten years, the release said.

"We are pleased to be pairing with Nasdaq OMX, a recognized leader in the development of innovative indices, to bring these products to market," Global X's chief executive officer, Bruno del Ama, said in the release. "Both new funds expand the coverage beyond the Nasdaq 100 index, providing greater diversification and possibly capturing the next Apple or Google."

Global X is a New York-based provider of ETFs.

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