Constituents are ranked and chosen by their correlation to the spot price of oil in the quarter preceding the selection day.
FORBES: Two New Oil And Gold ETFs To Watch
The underlying Solactive Global Oil Equities Index tracks the performance of 25 equal-weighted companies that have shown a high correlation to the spot price of oil.
On Tuesday Global X launched a new equity exchange-traded fund that attempts to achieve high correlation to crude oil spot prices.
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