“We’re identifying companies that are extremely involved in the pet care industry and stand to benefit from people’s passion for their pets,” said Cohen.
Screening for these particular opportunities will take place through the filter of the FactSet Pet Care Index, which is comprised of 24 companies that provide exposure to potential growth within the pet care industry.
Eligibility for the index means meeting certain criteria:
- The company’s principal revenue source is from one of eight FactSet Revere Business Industry Classification subindustries—“RBICS subindustries” for short; or
- The company generates at least $1 billion in annual revenue from at least one of the eight RBICS subindustries; or
- The company’s principal business is identified by FactSet as being pet care related, but for which an appropriate RBICS subindustry has not yet been created (e.g., pet insurance).
Furthermore, the index will tap into eight FactSet pet care subindustries, including pet food manufacturing, veterinary services, veterinary pharmaceuticals, pet supplies manufacturing, internet pet/supply retail, veterinary product distributors, pet supply stores, and veterinary diagnostics.
For more market trends, visit ETF Trends.