Texas ETF Bets Its State-Focused Fund Can Succeed Where Others Failed
- Texas-centered product is first ETF from Texas Capital Bank
- Previous state-focused funds have struggled to gain assets
The Texas State Capitol building, center, stands in downtown Austin, Texas.
Photographer: Callaghan O'Hare/BloombergThis article is for subscribers only.
Texas Capital Bank plans to launch an exchange-traded fund that will give investors exposure to companies domiciled in the Lone Star State.
The Texas Capital Texas Equity Index ETF will track an index of roughly 200 firms that are headquartered in the second-most-populous state and have a market capitalization of at least $250 million, according to a US Securities and Exchange Commission filing last week.