Strategy Shares on Wednesday launched a new ETF that seeks to generate results that correlate generally to the performance of an index within a new indexing category called Target Distribution Indexes.

The Strategy Shares Nasdaq 7HANDL Index ETF (HNDL) is designed to support a 7.0% annual distribution rate, all or a portion of which may include a return of capital.

HNDL’s investment strategy seeks results that correlate generally to the performance of the Nasdaq 7HANDL™ Index, which was developed by Bryant Avenue Ventures in partnership with Nasdaq and Dorsey Wright.

The Nasdaq 7HANDL™ Index consists of a well-diversified, multi-asset portfolio of low-cost ETFs and employs modest leverage in an amount equal to 23% of the total portfolio. The Index seeks to offer the potential for high monthly distributions while maintaining a stable net asset value over time.

Jerry Szilagyi, CEO of Strategy Shares, said its mission is rooted in bringing alternative-focused ETFs to the market, and this latest fund addition renews this focus.

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