PowerShares High Growth Rate Dividend Achievers Portfolio ETF (PHJ)

The PowerShares High Growth Rate Dividend Achievers Portfolio ETF (PHJ) started trading in September 2005. As its name suggests, it tracks the High Growth Rate Dividend Achievers Index, minus expenses and fees. The ETF's approach to tracking the index is full replication. It attempts to own all the stocks in the index.

The High Growth Rate Dividend Achievers Index tracks the performance of the top 100 companies that have increased their dividends in each of the last 10 years and have the highest annual dividend growth rates for the same period. The index is rebalanced quarterly, while components are selected and dropped annually. As of July 2008, the index was spread over the following sectors:

Basic Materials 5.22%
Consumer Cyclical 13.97%
Consumer Staples 6.22%
Energy 1.41%
Financials 33.62%
Health Care 19.95%
Industrials 10.71%
Information Technology 8.88%
Telecommunication Services 0.03%


The ETF is passively managed, with an expense ratio of 0.61%. The fund's most recent annual turnover rate was 12%. PHJ rebalances quarterly.

Although this is subject to change, the ETF pays dividends on a quarterly basis, in March, June, September, and December. The dividend is irregular, and past distributions have ranged from $0.03428 a share to $0.1321 a share.

As of July 2008, the PowerShares High Growth Rate Dividend Achievers Portfolio ETF held 100 stocks.

The ETF's holdings are listed below.



Note that this ETF is very thinly traded. As of July 2008, its average daily trading dollar volume for the last three months is just over $73,000.