Rydex Unveils Five New ETFs on NYSE Arca

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New York-based asset manager Rydex has unveiled five new equal-weight exchange-traded funds (ETFs) on NYSE Arca starting today, with an additional such fund set to begin trading on Jan. 12, 2011.

With these six new funds, Rydex will offer a total of 16 equal-weighted ETFs in addition to its other 18 ETFs, with combined assets under management of some $6 billion, according to the firm. Rydex manages about $21 billion in assets overall.

"Equal-weight ETFs offer a compelling alternative to

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