INVESCO’s PowerShares are launching four new ETF’s on June 25, 2007.  These are geared toward US investors to increase more easily targeted investing in overseas markets without having to leave the U.S.

(PEF) PowerShares FTSE RAFI Europe Portfolio: The PowerShares FTSE RAFI Europe Portfolio (PEF) is based on the FTSE RAFI Europe Index(TM). The index is designed to track the performance of the largest European equities.

(PJO) PowerShares FTSE RAFI Japan Portfolio: The PowerShares FTSE RAFI Japan Portfolio (PJO) is based on the FTSE RAFI Japan Index(TM). The index is designed to track the performance of the largest Japanese equities.

(PAF) PowerShares FTSE RAFI Asia Pacific ex-Japan Portfolio: he PowerShares FTSE RAFI Asia Pacific Ex-Japan Portfolio (PAF) is based on the FTSE RAFI Asia Pacific ex-Japan Index(TM). The index is designed to track the performance of the largest equities of companies domiciled in the Asia Pacific region (excluding Japan).

(PXF) PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio: The PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio (PXF) is based on the FTSE RAFI Developed Markets ex-U.S. Index(TM). The index is designed to track the performance of the largest developed market equities (excluding the U.S.).

The only issue with many ETF’s is that, while they are a hot buzzword, the supply of new ETF’s on lesser known index and baskets in the US and outside the US have failed to drastically catch on.  There are some 600 or 700 various exchange traded instruments between ETF’s, ETN’s, closed-end funds, and the like.  There is a huge benefit to these instruments and we applaude them.  We just want to see fewer duplicate ETF’s thatare too closely tied or too overlapped.

Jon C. Ogg
June 21, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in any of the companies he covers.