NEW YORK, June 29, 2018 /PRNewswire/ — Exchange Traded Concepts, LLC (ETC), a leader in providing white label Exchange Traded Fund (ETF) solutions, in conjunction with Eve Capital, today announced that the index for WEAR – The Wearable ETF (CBOE: WEAR) will be changed to the EQM Tactile AR/VR Virtual Technology Index. In conjunction with the index change, which will occur after the close of business on July 9th, the name of the fund will be changed to the Tactile Analytics AR/VR Virtual Technologies Fund (CBOE: ARVR).
“We are committed to providing unique ETF’s that can enable investors to access new and exciting investment themes,” said J. Garrett Stevens, CEO of Exchange Traded Concepts. “This change to the AR/VR Virtual Technology Index continues that goal.”
“Wearable technology is something that we still believe in. We just happen to believe that the augmented and virtual technology subset of wearables is the most exciting and could have a larger market impact going forward,” said Bryce Tillery, Managing Partner of Eve Capital. “We are also pleased to be working with EQM Indexes LLC, our index partner, and Tactile Analytics, the research firm covering this fast growing asset class.”
ARVR will continue to be sponsored by Dallas based Eve Capital. When the ETF index is changed normal business will remain intact for the fund. The new index tracks a sector that is also a subset of the EQM Wearable Technology index that WEAR is currently tracking. This index change provides a unique opportunity that all involved parties believe serves in the best interest of WEAR shareholders, including a new name and branding to help highlight what the sponsor believes is the most exciting aspect of wearable technology.
The new investment objective of the Tactile Analytics AR/VR Virtual Technologies ETF will be to seek to provide investment results that, before fees and expenses, track the price return performance of the EQM Tactile AR/VR Virtual Technology Index (the “Index”).
ARVR will normally invest at least 80% of its total assets in securities of the Index. The Index is designed to measure the performance of companies listed on public stock exchanges globally that are expected to benefit from the increased adoption of augmented reality and virtual reality (AR/VR) technologies. Companies included in the index can be found along the entire AR/VR supply chain. This includes, but is not limited to, companies that manufacture electronic components used to construct AR/VR hardware, companies that develop the software that utilize the hardware, companies that develop content for use on AR/VR hardware, and companies that manage content distribution platforms or deploy AR/VR hardware/software as part of a customer solution or offering.
Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing.
Investing involves risk, including possible loss of principal. Investments in foreign securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Investing in emerging markets involves different and greater risks, as these countries are substantially smaller, less liquid and more volatile than securities markets in more developed markets. The Fund may invest a relatively large percentage of its assets in securities denominated in non-U.S. currencies, the values of which may be affected by changes in the currency rates or exchange control regulations.
Information technology companies may be smaller and less experienced companies, with limited product lines, markets or financial resources and fewer experienced management or marketing personnel. Information technology company stocks, especially those which are Internet related, have experienced extreme price and volume fluctuations that are often unrelated to their operating performance. The Fund is non-diversified which means it may be invested in a limited number of issuers and susceptible to any economic, political and regulatory events than a more diversified fund. Diversification may not protect against market risk.
Exchange Traded Concepts, LLC serves as the investment advisor, and Vident Investment Advisory LLC serves as the sub-advisor to the fund. The Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.
This article provided by NewsEdge.