NEW YORK ( TheStreet) -- On Sept. 6, the Royal Bank of Scotland (RBS) rolled out the RBS US Large Cap Alternator ETN (ALTL). The underlying index uses a multi-period momentum strategy to provide exposure to either the S&P 500 Total Return Index, the S&P 500 Equal Weight Total Return Index, or the S&P 500 Low Volatility Total Return Index.A "Relative Strength Score" is assigned to each of the three large-cap stock weighting methodologies on the last business day of each calendar month. The calculation uses the simple average of the returns for the prior one-month, three-month, six-month, nine-month and 12-month periods. The ETN's index will track the return of the weighting scheme with the highest Relative Strength Score during the following month. The monthly rebalancing takes place at the close of business on the first trading day of the month.
Royal Bank of Scotland ETN Alternates 3 Large-Cap Weightings
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