OKLAHOMA CITY, Dec. 9, 2016 /PRNewswire/ -- The first ETF to exclusively focus on public companies that are engaged in the manufacture and sale of wearable devices and their component manufacturers will begin trading on the Bats Exchange this morning. The WEAR ETF (WEAR) is based on the Wearables Index, an innovative index developed by EQM Indexes, and has an expense ratio of 0.85 percent.
Exchange Traded Concepts, LLC (ETC) is proud to have partnered with Eve Capital to bring this product to market.
The fund includes notable companies such as Apple at 3%, Fitbit at 1.66%, Garmin at 3.07%, Boston Scientific at 2.63%, GoPro at 2.65% and Seiko at 3.07% among others.
"Wearable devices are changing the way people work and play. They are becoming more and more a part of our daily lives," said Bryce Tillery, Chief Executive Officer of Eve Capital. "We think this trend will continue far into the future as devices become smaller and faster and new technologies enable more uses for wearable devices."
"The wearable industry is very exciting and changing rapidly," said J. Garrett Stevens, CEO of Exchange Traded Concepts. "The WEAR ETF allows investors to participate in the breakthrough technologies and sales channels that we believe will continue to drive growth in this market. We are proud to deliver this product to the market."
About Exchange Traded Concepts: ETC is carving out a niche as a portal to launch new, custom exchange-traded funds efficiently and cost-effectively through a complete turnkey solution. ETC is a private-label ETF advisor with passive and active exemptive relief from the Securities and Exchange Commission (SEC) to launch both domestic and international equity exchange traded funds under the Investment Company Act of 1940. For more information, please go to www.exchangetradedconcepts.com.
Opinions expressed are those of ETC and their partners and are subject to change, not guaranteed, and should not be considered investment advice.
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.
The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The summary and statutory prospectuses contain this and other important information about the investment company, and may be obtained by calling 888-255-2434 or visiting www.wearetf.com. Read it carefully before investing.
Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security. The ETF seeks to replicate the % of holdings in the underlying index.
One cannot invest directly in an index.
Diversification does not assure a profit nor protect against loss in a declining market.
The WEAR ETF is distributed by Foreside Fund Services, LLC.
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SOURCE Exchange Traded Concepts