The new ETF will try to reflect the performance of the Market Vectors U.S. Business Development Companies Index, which tracks U.S. publicly traded BDCs. The Index’s market capitalization break down includes mid-caps 49.4% and small-caps 50.6%. The underlying index also has an average weighted dividend yield of 7.60%.
BIZD has 25 holdings and its top holdings include Ares Capital (NasdaqGS: ARCC) 16.0%, American Capital (NasdaqGS: ACAS) 14.8%, Prospect Capital (NasdaqGS: PSEC) 7.5%, Apollo Investment (NasdaqGS: AINV) 6.1% and Triangle Capital (NYSE: TCAP) 4.9%.
For more information on new fund products, visit our new ETFs category.
Max Chen contributed to this article.