The Chicago Board Options Exchange and International Stock Exchange will offer quarterly options on five popular exchange-traded funds, the bourses said this week. The pilot program for the new contracts will last for one year.

Options typically expire on a monthly basis, but the new quarterly options will expire on the last business days in March, June, September and December. The ETFs included in the trial period are the Standard & Poor’s Depositary Reciepts, better known as SPDRs, Nasdaq-100 Tracking Stock, or Cubes, the Diamonds Trust, which tracks the Dow Jones Industrial Average, the iShares Russell 2000 Index Fund and the Energy Select Sector SPDR.

“The quarterly expiration might be more appealing to portfolio managers and other institutions that often rebalance or adjust portfolios quarterly,” Optionetics analyst Frederic Ruffy told Reuters.