Evolve Funds Group Inc. has submitted a preliminary prospectus to Canadian securities regulators for the launch of a technology-focused ETF based on the Nasdaq-100 Index. The ETF, known as the Evolve NASDAQ Technology Index Fund (QQQT), aims to offer investors exposure to companies classified as “technology” within the Nasdaq-100 Index.
With 38 technology companies currently included in the Nasdaq-100 Index, the QQQT ETF will provide investors with exclusive access to the technology sector of the index. The fund seeks to replicate, to the best extent possible before fees and expenses, the performance of the Nasdaq-100 Technology Sector Adjusted Market-Cap Weighted Index or any successor index. The Index is specifically designed to measure the performance of technology companies listed within the Nasdaq-100 Index, which represents the largest non-financial companies on Nasdaq. Constituent securities in the Index must be classified as “technology companies” according to the Industry Classification Benchmark (ICB), with no issuer weight exceeding 10% of the Index.