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Russell ETFs expect zero capital gains distributions for 2011

All 24 ETF products in Russell's U.S. line-up show tax efficiency in their first year

Seattle, WA — December 5, 2011 — Russell Investments announced today that all 24 ETFs in its U.S. product line expect to pay zero capital gains distributions for 2011.

"Tax efficiency is one of the advantages that ETFs offer to investors," said Greg Friedman, managing director of Russell's global ETF product group. "We're happy to announce in the inaugural year for all 24 of our intelligent-beta and active ETFs that we expect to deliver on that benefit."

Russell Factor ETFs Ticker Capital gains for 2011
Russell 1000 High Beta ETF HBTA 0
Russell 1000 Low Beta ETF LBTA 0
Russell 1000 High Volatility ETF HVOL 0
Russell 1000 Low Volatility ETF LVOL 0
Russell 1000 High Momentum ETF HMTM 0
Russell 2000 High Beta ETF SHBT 0
Russell 2000 Low Beta ETF SLBT 0
Russell 2000 High Volatility ETF SHVY 0
Russell 2000 Low Volatility ETF SLVY 0
Russell 2000 High Momentum ETF SHMO 0
Russell Developed ex-U.S. Low Beta ETF XLBT 0
Russell Developed ex-U.S. Low Volatility ETF XLVO 0
Russell Developed ex-U.S. High Momentum ETF XHMO 0

Russell Investment Discipline ETFs Ticker Capital gains for 2011
Russell Aggressive Growth ETF AGRG 0
Russell Consistent Growth ETF CONG 0
Russell Contrarian ETF CNTR 0
Russell Equity Income ETF EQIN 0
Russell Growth at a Reasonable Price ETF GRPC 0
Russell Low P/E ETF LWPE 0
Russell Small Cap Aggressive Growth ETF SGGG 0
Russell Small Cap Consistent Growth ETF SCOG 0
Russell Small Cap Contrarian ETF SCTR 0
Russell Small Cap Low P/E ETF SCLP 0

Russell OneFund ETFs Ticker Capital gains for 2011
Russell Equity ETF ONEF 0

About Russell ETFs

Russell ETFs were created to deliver a wide range of clearly differentiated market exposures. With Russell ETFs, sophisticated investors gain access to unique exposures ranging from investment disciplines to risk factors as well as to broadly targeted exposures using an ETF of ETFs format. As a result, investors now have a whole new set of exposures for constructing portfolios and managing risk. For more information about Russell's full series of ETFs, please go to www.russelletfs.com.

About Russell Investments

Founded in 1936, Russell Investments is a global financial services firm that serves institutional investors, financial advisers and individuals in more than 35 countries. Over the course of its history, Russell's innovations have come to define many of the practices that are standard in the investment world today, and have earned the company a reputation for excellence and leadership. The firm had over $137 billion in assets under management as of September 30, 2011.

Steve Claiborne, 206-505-1858

Russell Investments is a Washington, USA Corporation, which operates through subsidiaries worldwide and is a subsidiary of The Northwestern Mutual Life Insurance Company.

This material is proprietary and may not be reproduced, transferred, or distributed in any form without prior written permission from Russell Investments. It is delivered on an "as is" basis without warranty.

Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.

Investors should carefully consider the investment objectives, risks, charges and expenses before investing in Russell ETFs. This and other information can be found in the funds' prospectuses, which may be obtained by calling 888-RSLETFS (888-775-3837) or downloading the file from russelletfs.com. Read the prospectus carefully before investing. Investing involves risk including possible loss of principal.

Past performance is not a guarantee of future results.

ETFs are subject to risks similar to those of stocks, including those related to short-selling and margin account maintenance, if applicable. Funds that emphasize exposure to high beta, high volatility or high momentum stocks are seen as having a higher risk profile than the overall market. However, a portfolio comprised of high beta or high volatility stocks may not produce investment exposure that is more sensitive or has higher variability to changes in such stocks' price levels. Positive momentum stocks may experience periods of relative underperformance and may not produce investment experience consistent with prior performance. Funds that emphasize exposure to low beta or low volatility stocks are seen as having a lower risk profile than the overall market. However, a portfolio comprised of low beta or low volatility stocks may not produce investment exposure that is less sensitive or has lower variability to a change in price level. The funds are passively managed and may not match or achieve a high degree of correlation with the return of their corresponding Index. As with all investments, there are certain risks of investing in an ETF, and you could lose money on an investment in an ETF.

Not FDIC Insured. May Lose Value. Not Bank Guaranteed.

Russell ETFs and their corresponding Indexes are new and have limited operating history. New indexes are also subject to errors in construction which may result in unintended exposures. There is no assurance the investment process will consistently lead to successful investing. There is no assurance the stated objectives will be met.

Russell ETFs are distributed by ALPS Distributors, Inc. ("ALPS"). Russell Investment Management Company ("RIMCo," dba Russell Investments) serves as the investment advisor to the ETFs. ALPS and RIMCo as well as Axioma, Inc. are separate and unaffiliated.

RUS-582 Expires 12/31/2012.