NEW YORK, Dec. 4, 2012 /PRNewswire/ -- S&P Dow Jones Indices, the world's largest provider of financial market indices, announced today that the S&P 500® Low Volatility index has been named the William F. Sharpe Indexing Product of the Year at the IMN's annual Global Indexing and ETFs conference in Phoenix, Arizona for having the most significant impact on the indexing industry over the last 12 months. The Index is licensed to Invesco PowerShares, which won the ETF Product of the Year award for its ETF based upon the S&P 500 Low Volatility index. The Indexing Product of the Year award caps an impressive day for S&P Dow Jones Indices as IMN recognized Dr. David Blitzer, Managing Director and Chairman of S&P Dow Jones Indices' Index Committees, with the distinguished William F. Sharpe Indexing Lifetime Achievement Award. This acclaimed award recognizes the most accomplished innovators and practitioners in the indexing industry. The S&P Dow Jones Indices press release, announcing Dr. Blitzer's recognition, can be found by clicking here. "The widespread popularity of the S&P 500 Low Volatility index reflects the growing demand amongst investors for an easily comprehendible and transparent index for measuring the performance of large-cap, low volatility issues," says Alex Matturri, Chief Executive Officer of S&P Dow Jones Indices. "We are honored to receive this award as it recognizes our continuing commitment to producing clearly understood, replicable indices across a myriad of asset classes and strategies." The S&P 500 Low Volatility index measures the performance of the 100 least volatile stocks in the S&P 500. The Index benchmarks low volatility or low variance strategies for the U.S. stock market. Constituents are weighted relative to the inverse of their corresponding volatility, with the least volatile stocks receiving the highest weights.