A Dow Jones news release said the new rules-based index seeks to measure a contrarian investment strategy by focusing on companies with strong recent fundamentals but a lagging three-year-trailing return.
The index has been licensed to Javelin Investment Management to underlie an exchange-traded fund (ETF). The ETF will be available Friday at NYSE Euronext.
The universe for the Dow Jones U.S. Contrarian Opportunities Index is the Dow Jones U.S. Broad Stock Market Index, which measures the performance of the largest 2,500 U.S. stocks by float-adjusted market capitalization, Dow Jones said.
More information is available at www.djindexes.com.