Invesco Powershares, part of global investment manager Invesco, has listed the PowerShares S&P 500 High Dividend Low Volatility UCITS ETF on the London Stock Exchange.

Invesco Powershares, an exchange-traded fund provider, has launched the PowerShares S&P 500 High Dividend Low Volatility UCITS ETF.

The ETF, to be listed on the London Stock Exchange, is the first in Europe to seek investment returns that correspond to the price and yield of the S&P 500 Low Volatility High Dividend Net Total Return Index, which screens and ranks stocks in the S&P 500 Index in descending order of trailing 12 month dividend yields.

The fund provides exposure to US equity income, investing in the 50 least volatile high dividend-yielding stocks in the S&P 500 Index.

The launch comes as part of Invesco Poweshares' drive to enhance its core US equity offering and to grow further in the smart beta market.

“By expanding our range of smart beta tools, we can help investors gain more refined exposure to US equities,” said Bryon Lake, head of Invesco Powershares EMEA.

“The current climate of low interest rates means investors are continuing to seek yield, and are especially wary of the potential of increased volatility. By combining the high dividend and low volatility screens, we’re seeking to present investors with the best of both worlds.”

The ETF, also listed on the Irish Stock Exchange, is expected to list on French, Italian, German and Swiss exchanges over the coming month.