FTEC provides exposure to US technology firms across all market caps by tracking the MSCI USA IMI Information Technology 25/50 Index. All selected stocks are classified as part of the Information Technology sector under GICS. The Indexs methodology applies certain investment limits for RICs under the current US Internal Revenue Code to help ensure diversification, one of which stipulates that: At the end of each quarter of its tax year no more than 25% of the value of the RIC's assets may be invested in a single issuer and the sum of the weights of all issuers representing more than 5% of the fund should not exceed 50% of the funds total assets. Moreover, the index is reviewed quarterly starting in February and reviewed semiannually in May and November. Prior to December 1, 2020, the fund tracked the MSCI USA IMI Information Technology Index.
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