IndexIQ, the ETF issuer behind four first-to-market country-specific small-cap ETFs, is planning to introduce mid-cap ETFs tracking Canadian and Japanese equities.
The IQ Canada Mid Cap ETF will track the IQ Canada Mid Cap Index while the IQ Japan Mid Cap ETF will track the IQ Japan Mid Cap Index. An SEC filing by IndexIQ did not disclose tickers for the new ETFs.
To be eligible for inclusion in the index, companies must be based in Canada or Japan, have a minimum market cap of $500 million for the previous 90 days, have a minimum average daily trading volume of $1 million for the prior 90 days and have a minimum monthly trading volume of 250,000 shares for the previous six months.
IndexIQ also filed plans for the IQ Emerging Markets Mid Cap ETF, which will track the IQ Emerging Markets Index. That index has the same requirements as the ones mentioned above. Index IQ did not specify what emerging markets would be featured in the fund.
IndexIQ also issues the IQ Australia Small Cap ETF KROO, the IQ South Korea Small Cap ETF SKOR and the IQ Taiwan Small Cap ETF TWON.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.