At a glance
- The fund tracks the Alerian Texas Weighted Oil and Gas Index and holds companies extracting oil and gas within Texas, and as of September 2 it had returned 45.23% year to date and 8.25% over the prior month as oil and gas prices moved the energy complex, ETF Trends notes.
- The shift concerns where the shares trade, not the portfolio behind them.
- Geography is becoming a portfolio feature elsewhere, too: Defiance's ISRL, covered here September 1, went local with security selection by tracking Tel Aviv-listed names over Israel-heavy multinationals, while Texas Capital is going local at the execution layer by choosing the exchange where a Texas-focused ETF should trade.
Texas Capital is taking the Texas part of its ETF lineup to its logical endpoint, announcing plans to move the Texas Capital Texas Oil Index ETF (OILT) and the Texas Capital Index ETF (TXS) to the Texas Stock Exchange as its first primary listings. "They are Texas focused, and we're bringing them home to an exchange that's headquartered here in the state," Carlos Peña, head of ETF and funds management at Texas Capital, told Bloomberg, as ETF Trends reported September 2.
The timing suits OILT. The fund tracks the Alerian Texas Weighted Oil and Gas Index and holds companies extracting oil and gas within Texas, and as of September 2 it had returned 45.23% year to date and 8.25% over the prior month as oil and gas prices moved the energy complex, ETF Trends notes.
The shift concerns where the shares trade, not the portfolio behind them. What it adds is the story Texas Capital can tell: the funds are set to be the first on the Texas exchange, and Peña frames the move as validation of the product thesis—for a fund family whose products carry "Texas" in the name, the exchange affiliation extends the brand without touching the portfolio.
Geography is becoming a portfolio feature elsewhere, too: Defiance's ISRL, covered here September 1, went local with security selection by tracking Tel Aviv-listed names over Israel-heavy multinationals, while Texas Capital is going local at the execution layer by choosing the exchange where a Texas-focused ETF should trade.
The Texas Stock Exchange gets a convenient origin story from the arrangement: two anchor funds with Texas in their mandate, moving to a venue headquartered in the same state.
ETF Trends' report contains no timeline or volume targets, and a listing venue only pays off if trading continues to work after the move. But the first-primary-listings title is already Texas Capital's, and no later entrant can claim it.
Reported by the Issuers desk from ETF Trends. Published . Corrections