These companies include ETF sponsors; asset managers; index providers; broker-dealers; securities exchanges; and service providers, such as custodians, transfer agents, and administrators, according to the prospectus.

Companies eligible for inclusion on the index are broken down to four tiers. Tier A are comprised of those whose participation in ETF activities is substantial and results in direct financial impact to company shareholders, including investment advisors to and sponsors of ETFs. This tier makes up 50% of the index weight, including BlackRock, Charles Schwab, Invesco, State Street, WisdomTree, and more.

Tier B includes those with substantial participation in ETF activities and indirect financial impact to company’s shareholders. This tier makes up 25% of the index weight, including KCG Holdings, NASDAQ, Intercontinental Exchange, Inc., and more.

Tier C includes those whose participation in ETF activities is moderate and results in indirect financial impact to shareholders, which include companies that generally provide support services to participants in the ETF industry. This tier makes up 15% of the index weight, including Bank of New York Mellon, US Bancorp, FactSet, Ameriprise Financial, and more.

Lastly, Tier D includes companies that recently began to participate or have minor participation in ETF activities. This segment makes up 10% of the index weight and includes such names as Morningstar, Eaton Vance, Goldman Sachs, Legg Mason, Citigroup, and more.

“Not only are we seeking to capture the performance of the industry, but we’re also looking to bring together many of its leaders to leverage their authority as we monitor, research, and benchmark the category’s potential future growth,” Guillermo Trias, CEO of Toroso Investments, said in a note.

For more information on new fund products, visit our new ETFs category.