Eve Capital hopes to capitalize on the $94.4 billion augmented reality and virtual reality market after changing the index for WEAR – the Wearable ETF (CBOE: WEAR) to the EQM Tactile AR/VR Virtual Technology Index. This led to a subsequent name change to the Tactile Analytics AR/VR Virtual Technologies Fund (CBOE: ARVR) on July 9.
With the name and index change comes a focus of capitalizing on a global augmented reality and virtual reality market that expects to reach $94.4 billion by the year 2023, per a report released by Research and Markets.
“Wearable technology is something that we still believe in. We just happen to believe that the augmented and virtual technology subset of wearables is the most exciting and could have a larger market impact going forward.” said Bryce Tillery, Managing Partner of Eve Capital. “We are also pleased to be working with EQM Indexes LLC, our index partner, and Tactile Analytics, the research firm covering this fast growing asset class.”
ARVR will invest at least 80% of its total assets in securities of the EQM Tactile AR/VR Virtual Technology Index. The index it tracks is designed to measure the performance of companies listed on public stock exchanges globally that are expected to benefit from the increased adoption of augmented reality and virtual reality (AR/VR) technologies.
Companies included in the index can be found along the entire AR/VR supply chain. This includes, but is not limited to, companies that manufacture electronic components used to construct AR/VR hardware, companies that develop the software that utilize the hardware, companies that develop content for use on AR/VR hardware, and companies that manage content distribution platforms or deploy AR/VR hardware/software as part of a customer solution or offering.