SKYY, which turns eight years old in July, has over $1.7 billion in assets under management.
The Global X Cloud Computing ETF will be a cap-weighted ETF that uses a replication strategy.
“A replication strategy is an indexing strategy that involves investing in the securities of the Underlying Index in approximately the same proportions as in the Underlying Index. However, the Fund may utilize a representative sampling strategy with respect to the Underlying Index when a replication strategy might be detrimental or disadvantageous to shareholders, such as when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to replicate the Underlying Index, in instances in which a security in the Underlying Index becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations (such as tax diversification requirements) that apply to the Fund but not the Underlying Index,” according to the SEC filing.
The filing did not include an expense ratio, listing venue or ticker, indicating a launch is not imminent.
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