Texas Capital Texas Equity Index ETF (TXS)
Texas Capital Texas Equity Index ETF operates in the Asset Management industry of the Financial Services sector, headquartered in Dallas, TX, US. The stock last traded at $42.37, up 0.59% on the session, giving a market capitalisation of $36.6M. Its beta of 0.87 implies it has historically moved less than the broad market.
TXS tracks an index composed of companies that have significant contributions to the economy of Texas. The fund adviser believes that companies headquartered in Texas enjoy certain economic, regulatory, taxation, workforce and other benefits relative to companies headquartered in other states. Initially, all eligible securities from the investable equity universe that meet certain size and liquidity requirements are selected as index constituents. Component sectors in the index are weighted based on their industry contributions to Texass GDP, as reported for the private sector by the US Bureau of Economic Analysis. Companies within each sector are then weighted based on their market-cap, with a minimum cap of 0.05% and maximum cap of 10% per constituent. The fund does not limit its investment to a certain market-cap bracket. TXS may concentrate its investment in a particular industry or group of industries to the extent that the index is concentrated.
Texas Capital Texas Equity Index ETF is most often compared with the following Financial Services names: