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QQQ is an exchange-traded fund based on the Nasdaq-100 Index. The Fund will, under most circumstances, consist of all of stocks in the Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The Fund and the Index are rebalanced quarterly and reconstituted annually.
LABU seeks daily investment results, before fees and expenses, of 300% of the performance of the S&P Biotechnology Select Industry Index. The Index is provided by Standard & Poor’s and includes domestic companies from the biotechnology industry. As of April 30, 2015, the Index was comprised of 98 stocks. The companies included in the Index have a median market capitalization of $1.54 billion and are concentrated in the energy and biotechnology sectors as of April 30, 2015.
ARK will select investments for ARKK that represent its highest-conviction investment ideas within the theme of disruptive innovation, as described above, in constructing the Fund’s portfolio. The Fund is an actively managed exchange-traded fund (ETF) that will invest under normal circumstances primarily (at least 65% of its assets) in domestic equity securities and U.S. exchange traded foreign equity securities of companies that are relevant to the Fund’s investment theme of disruptive innovation.
IWM seeks investment results that correspond generally to the price and yield performance before fees and expenses of the small capitalization sector of the U.S. equity market as represented by the Russell 2000 Index. The index represents the approximately 2000 smallest companies in the Russell 3000 Index.
The investment objective of UNG is for the changes in percentage terms of the units net asset value to reflect the changes in percentage terms of the price of natural gas delivered at the Henry Hub Louisiana as measured by the changes in the price of the futures contract on natural gas traded on the New York Mercantile Exchange that is the near month contract to expire except when the near month contract is within two weeks of expiration in which case it will be measured by the futures contract that is the next month contract to expire less UNG’s expenses.
