ROOF focuses on real estate sectors that are expected to gain from NextGen trends such as: Digital Transformation, eCommerce Revolution, and Generational Change. Starting with a universe of developed market companies, the fund screens for firms that are either in the technology real estate sector (cell tower and data centers), the industrial sector (logistics facilities), or the health care and residential real estate sectors (health care facilities and housing). Eligible companies must also meet the funds market-cap and liquidity criteria. Constituents are weighted by market-cap, subject to the following constraints: a) the three NextGen trends must be weighted equally, b) no single security may exceed 10% index weight, c) the aggregate weight of securities with weights of 5% or more should not exceed 22.5%, and d) the aggregate weight of non-US stocks should not exceed 25%. The index reconstitutes and rebalances quarterly. Prior to September 1, 2022, the fund tracked the IQ US Real Estate Small Cap Index and was called the IQ US Real Estate Small Cap ETF.
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