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Nasdaq OMX, a leading exchange group and index issuer, has teamed up with Chaikin Analytics, a provider of equity analytics, to launch the Nasdaq Chaikin Power Indexes, a range of rules-based, quantitatively-enabled US equity strategy indices.
The indices are available for licensing and implementation through separately managed accounts and exchange-traded fund (ETFs).
The index range is based on the so-called ‘Chaikin Power Gauge’ multi-factor model and comprises three indices: the Nasdaq Chaikin Power US Large Cap Index, the Nasdaq Chaikin Power US Small Cap Index, and the Nasdaq Chaikin Power US Dividend Achievers Index.
Referred to as enhanced alpha indices, the indices filter the Nasdaq US 300, Nasdaq US 1500 and Nasdaq DAQ US Broad Dividend Achievers indices utilizing the Chaikin Power Gauge with a view to outperforming these benchmarks.
The Chaikin Power Gauge is based on a proprietary multi-factor model that combines fundamental, technical and sentiment factors into a rating that indicates a security’s statistical probability to over- or under-perform the market in the intermediate term. This methodology is coupled with a defined set of rules and criteria applied in a systematic and consistent manner.
John Jacobs, Executive Vice President, Nasdaq OMX Global Information Services, said: “Marc Chaikin has been a pioneer in equity analytics on Wall Street for decades, and Chaikin Analytics provides investors with the unbiased investment tools, analytics and strategies our customers demand. The Nasdaq Chaikin Power Indexes offer investment and asset managers unique, quantitatively-enabled strategies to provide client portfolios with enhanced index performance while maintaining the liquidity and transparency standards they require.”
Marc Chaikin, CEO and founder of Chaikin Analytics, added: “Enhanced alpha products, such as the Nasdaq Chaikin Power Indexes, represent the next generation of product innovation. These indexes combine the best traits of smart beta and actively managed ETFs with enhanced performance by narrowing existing indexes down to their most promising constituents. By partnering with an innovative, market-leading, global index provider such as Nasdaq OMX Global Indexes, asset managers and investors around the world will now have access to these unique, enhanced investment strategies.”