Texas Capital Texas Equity Index ETF (TXS) Research

The Texas Capital Texas Equity Index ETF (TXS) aims to replicate the performance of an index comprising companies that are crucial to the economic landscape of Texas. The fund's management operates on the principle that businesses established in Texas benefit from particular advantages, including economic, regulatory, taxation, and workforce aspects, compared to those situated in other states. Initially, securities eligible for the index are chosen from the broader investment universe if they meet specific size and liquidity criteria. The weighting of sectors within the index is determined by their proportional contribution to Texas's private sector Gross Domestic Product (GDP), drawing upon statistics provided by the US Bureau of Economic Analysis. Following this, individual companies within each sector are weighted based on their market capitalization, with a stipulated minimum allocation of 0.05% and a maximum of 10% for any single component. The fund does not impose a limitation on the overall market capitalization range of its investments. Consequently, TXS may exhibit a concentrated exposure to certain industries or groups of industries if such concentration is present in its underlying index.

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