Stoxx has launched the Stoxx Global Rare Earth Index, tracking companies that generate at least 30% of their revenues in the rare earth sector globally.
The index, said the firm, has been designed to underlie exchange-traded funds and other investable products, including structured products.
"The demand for rare earth metals is increasing exponentially as they are used in a wide range of modern technology, from iPods to hybrid cars, wind turbines and batteries," said Hartmut Graf, chief executive officer of Stoxx.
The rare earth sector covers companies with operations involving exploration, extraction, transport, processing or any other business concerning any of the 17 rare earth elements: cerium, dysprosium, erbium, europium, gadolinium, holmium, lanthanum, lutetium, neodymium, praseodymium, promethium, samarium, scandium, terbium, thulium, ytterbium and yttrium.
The Global Rare Earth Index is weighted by free-float adjusted capitalisation and currently consists of 14 components. It is rebalanced quarterly, and component review takes place semi-annually.