At a recent Nasdaq event, IndexIQ announced the launch of a new ETF suite. The ETFs are, the U.S. Large Cap R&D Leaders ETF (LRND), the IQ U.S. Mid Cap R&D Leaders ETF (MRND), and the IQ Global Equity R&D Leaders ETF (WRND). Each fund tracks its respective index, i.e. IQ U.S. Mid Cap Leaders ETF Index, but each follows an existing index, LRND the Russell 1000 Index, MRND the Russell Mid Cap Index, and WRND the FTSE All World Index.
ETF Newz Says:
LRND has a 93% holding overlap of WRND and about 28% with MRND.