NEW YORK (TheStreet) -- Mr. Burns, the plutocrat from The Simpsons, didn't get rich by investing in newfangled companies. He is more of a traditionalist. On the show, his portfolio included Transatlantic Zeppelin and Amalgamated Spats. These old-fashioned companies seem silly, but Mr. Burns may have had an innovative idea there: invest in longstanding companies.
Now there's an ETF for that.
The new PowerShares NYSE Century Portfolio (NYCC) owns companies that are household names and have been in business for at least 100 years.
That doesn't mean that the companies have been publicly traded for 100 years, though. For example, UPS (UPS) has been in business since 1907, but its stock has only been trading since 1999.
The implication of course is that the companies' ability to weather the last century likely means they will do well in the current one.
The PowerShares Century ETF is not a simple market cap-weighted index fund. PowerShares was an early mover in "smart beta" funds, which screen a broad-based index for stocks that meet a valuation metric or some other attribute like volatility or a dividend strategy. NYCC is one such smart beta fund.