Texas Capital launches first exchange traded fund

Texas Capital Bank Private Wealth Advisors and the Texas Capital Funds Trust announced the launch of the Texas Capital Texas Equity Index ETF. TXS will seek to track the performance of the Texas Capital Texas Equity Index, an index comprised exclusively of public companies headquartered in the state of Texas. At the time of launch, the Index included a diversified group of 216 publicly traded companies, with individual component weights determined first by sector, as defined by the North American Industry Classification System and based on relative contribution to Texas’ reported Gross Domestic Product, and then by market capitalization.