IndexIQ, a leader in developing index-based commodity, international, and liquid alternative investment solutions, is set to launch the IQ Japan Mid Cap ETF (Ticker: RSUN) on the NYSE Arca platform this morning, it was announced today.
RSUN is the first Exchange-Traded Fund (ETF) dedicated to providing access to Japan’s mid-cap stock sector, where many of the country’s most successful companies can be found, including the Industrial, Financial and Technology sectors. Those sectors made up 23.16 percent, 17.69 percent, and 9.08 percent, respectively, of the fund’s underlying index as of May 16, 2011.
RSUN seeks to replicate, before fees and expenses, the performance of the IQ Japan Mid Cap Index (IQMDJPN), a float-adjusted market cap-weighted index that is intended to track the overall performance of the mid-cap sector of publicly traded companies domiciled and primarily listed on an exchange in Japan. As in the U.S., the Japanese mid-cap sector is comprised in part of companies that combine the attractive growth characteristics of small cap companies with the size and financial stability of larger cap companies. RSUN is intended to provide pure-play exposure to this sector either as a standalone vehicle or in combination with small- and large-cap Japanese ETF offerings to create a broad-based portfolio.
“Japan has seen more than its share of tragedy this year, yet the country is remarkably resilient with a strong global economic base supported domestically by many leading small- and mid-cap companies,” said Adam Patti, CEO of IndexIQ. “To date, there has been no way for individuals in the U.S. to get focused exposure to the potential of these mid-sized companies. RSUN allows investors to isolate and access this sector of the Japanese economy in a low cost, highly liquid, tax efficient way.”RSUN joins IndexIQ’s suite of International ETFs, and is the first mid-cap fund in what had previously been a stable of small-cap offerings, including:
- 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 ;
- IQ Australia Small Cap ETF (NYSE Arca: KROO), the first Australia small cap ETF;
- IQ Canada Small Cap ETF (NYSE Arca: CNDA), the first Canada small cap ETF; and
- IQ Hong Kong Small Cap ETF (NYSE Arca: HKK), the first Hong Kong small cap ETF.
- IQ Global Resources ETF (NYSE Arca: GRES), the first Global Natural Resources ETF;
- IQ Global Agribusiness Small Cap ETF (NYSE Arca: CROP), the first global agribusiness small cap ETF; and
- IQ Global Oil Small Cap ETF (NYSE Arca: IOIL), the first global oil small cap ETF.
- IQ Hedge Macro Tracker ETF (NYSE Arca: MCRO), the first Global Macro ETF;
- IQ Hedge Multi-Strategy Tracker ETF (NYSE Arca: QAI), the first US-listed Hedge Fund Replication ETF;
- IQ Alpha Hedge Strategy Fund (IQHIX – Institutional Share Class; IQHOX – Investor Share Class), the first open-end, no-load Hedge Fund Replication mutual fund;
- IQ Merger Arbitrage ETF (NYSE Arca: MNA), the first Merger Arbitrage ETF; and
- IQ Real Return ETF (NYSE Arca: CPI), the first multi-asset class “Real Return” ETF, which seeks to generate a real return above the rate of inflation as measured by changes in the Consumer Price Index;