IndexIQ, a leading developer of index-based, liquid alternative investment solutions, today announced that its IQ Canada Small Cap ETF (NYSE Arca: CNDA) has surpassed the $100 million mark in assets under management (AUM).
CNDA, which launched in March 2010, was the first, and is still the only, Exchange-Traded Fund (ETF) dedicated to providing exposure to the dynamic small-cap segment of the Canadian economy, a segment that recently has experienced significant growth, spurred in large part by Canada’s vast natural resources. Canada has the second largest proven reserves of crude oil in the world, is the fourth largest exporter of crude, and also is the world’s second largest exporter of natural gas. 1
“Canada is very rich in natural resources and has a strong consumer base, but since it is not included in the MSCI EAFE, many investors are left dramatically underexposed to the country,” said Adam Patti, Chief Executive Officer of IndexIQ. “With CNDA, investors have a means to gain that exposure, and can do so in a way that is not overly concentrated in large multi-national corporations whose performance tends to mirror the broad international markets. CNDA provides a sector allocation tied more closely to the actual local economy (i.e. energy and materials, rather than financials), as compared to the large cap Canada counterparts.”
CNDA is part of IndexIQ’s family of single-country small-cap ETFs, including:
- IQ Australia Small Cap ETF (NYSE Arca: KROO), the first Australia small cap ETF;
- IQ South Korea Small Cap ETF (NYSE Arca: SKOR), the first South Korea small cap ETF;
- IQ Taiwan Small Cap ETF (NYSE Arca: TWON), the first Taiwan small cap ETF .
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