An exchange traded fund (ETF) with the theme of drones launched Wednesday, March 9.
The PureFunds Drone Economy Strategy ETF (NYSEArca: IFLY) becomes the first ETF providing access to companies designing, manufacturing, and researching drones and drone technology.
IFLY is the fourth addition to PureFunds’ suite of SelecTech ETFs, following first-to-market ETFs for cyber security, big data and mobile payments technologies.
Andrew Chanin, CEO of PureFunds, said like other established investment sectors, technology has been driven by the growth of its various industries.
“Investors of all backgrounds have sought the opportunity to diversify their broad technology exposure with a thematic approach, and the PureFunds Drone Economy Strategy ETF offers added flexibility for investing in technology,” Chanin said.
[related_stories]IFLY will seek to correspond to the price and yield performance of the Reality Shares Drone Index (RSD), a group of 47 companies determined based on a combination of Projected revenue from drone technology; Direct involvement in developing or researching drone technology; Services provided to companies directly involved in drone technology; and the expected growth of a company’s revenue from drone technology.
IFLY’s holdings include Aerovironment, Inc. (AVAV), Parrot SA (PARRO), Honeywell (HON), and The Boeing Company (BA).
For more information on new ETFs, visit our New ETFs category.