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E*Trade Plans Expansion of Its Index Fund Family

E*Trade of Palo Alto, Calif. plans to expand its family of index funds with an Internet index fund. The new fund, the E*Trade E-Commerce Index Fund, was filed with the SEC on July 26. The fund will invest in the stocks in the Goldman Sachs E-Commerce Composite Index, which tracks companies that derive most of their revenue online or sell e-commerce infrastructure.

E*Trade's latest fund will join only a couple of other Internet index funds currently preparing to go to market. No such funds are currently available.