Former Head of PowerShares Lists Elkhorn S&P 500 Capital Expenditures ETF (CAPX)

WHEATON, IL--(Marketwired - May 27, 2015) -  Elkhorn Investments, LLC, an independent investment firm that designs, sponsors and distributes innovative financial solutions with industry-leading research partners, announced today the Elkhorn S&P 500® Capital Expenditures ETF (NASDAQ: CAPX) has begun trading on The Nasdaq Stock Market. CAPX seeks to track the performance of the S&P 500 Capex Efficiency Index (Index).

"We are pleased to receive a license from S&P Dow Jones Indices for the S&P 500 Capex Efficiency Index, bringing the first capital expenditures (capex) ETF to market," said Ben Fulton, Founder and CEO of Elkhorn Investments and former Managing Director of Global ETFs at Invesco PowerShares. "Capex is the reinvestment of resources back into a business and a key driver of future growth. The importance of capital expenditures has been widely overlooked in today's market."

The S&P 500 Capex Efficiency Index is designed to provide exposure to the 100 constituents of the S&P 500 which have exhibited the strongest capital discipline, in the form of efficient capital expenditures, over the near term. The Index focuses on capex efficiency, not just capex spending levels, providing exposure to stocks that have maximized sales per unit of capital expenditures.

"Research shows the efficiency by which a company deploys capex is a more comprehensive stock selection metric," added Graham Day, Director of Product Development at Elkhorn Investments. "Capex efficiency identifies companies best managing today's resources for future growth." 

"Firms that have been efficient in turning their capital expenditures into sales have historically outperformed the broader market," says Vinit Srivastava, Senior Director, Strategy Indices, at S&P Dow Jones Indices. "We believe that the S&P 500 Capex Efficiency Index provides investors with exposure to the capex efficiency factor, one that is currently sought after with buybacks and dividend payouts at all-time highs."

About Elkhorn
Founded in 2013, Elkhorn is redefining the relationship between investment strategy and product structure: designing, sponsoring and distributing innovative, research-based investments solutions. At Elkhorn, research drives design and advisors drive structural decisions. Elkhorn's founder, Ben Fulton, is a recognized leader in the ETF industry, leveraging 30 years of financial services experience to meet the needs of today's investment advisor. To learn more about Elkhorn or the Elkhorn Foundation please visit www.elkhorn.com

S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"), a part of McGraw Hill Financial. Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The fund's return may not match the return of the underlying index. The fund invests in equity securities which may be subject to volatile price fluctuations. Because the fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund. This fund is new and has a limited operating history.

Shares are not individually redeemable and owners of the shares may acquire those shares from the fund and tender those shares for redemption to the fund in Creation Units only, typically consisting of 50,000 Shares.

Invesco PowerShares, Elkhorn Investments, LLC, and ALPS Distributors, Inc. are not affiliated with each other.
ALPS Distributors, Inc. is the distributor of Elkhorn exchange-traded funds.

An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus containing this and other information, please call 1.800.355.4676. Read the prospectus carefully before investing.