NEW YORK, July 11, 2018 /PRNewswire/ -- Exchange Traded Concepts, LLC (ETC), a leader in providing white label Exchange Traded Fund (ETF) solutions, in conjunction with Eve Capital, today announced that the index and name changes for The WEAR ETF have been completed. WEAR is now the Tactile Analytics AR/VR Virtual Technologies Fund and tracks the EQM Tactile AR/VR Virtual Technology Index. More information on ARVR can be found at the fund's new website: https://arvretf.com
"We are excited to offer such a unique and innovative product," said J. Garrett Stevens, CEO of Exchange Traded Concepts. "ARVR allows investors to participate in the dynamic and growing market of augmented and virtual reality technologies."
The Tactile Analytics AR/VR Virtual Technologies Fund ("the Fund") is the first exchange traded product that provides investors with direct exposure to companies that are expected to benefit from the emergence of augmented and virtual reality (AR/VR) technologies. Tactile Analytics, which provides industry research support to EQM Indexes, believes that advancements in AR/VR technologies may transform how humans interact with machines. This represents a growth opportunity that has the potential to affect nearly every modern industry.
"We are excited that investors now have the opportunity to invest in the first ETF focused on the AR/VR space," said Bryce Tillery, Managing Partner of Eve Capital, financial sponsor of the product. "While we still believe that wearable technologies represent a compelling investment thesis, we wanted to narrow our focus and develop a specialized product that leverages the most exciting advancements in the field. This ETF is now focused on a single component of wearables technology, augmented and virtual reality technology, and we encourage investors to learn more about the potential impacts of this rapidly growing industry."
The name and index changes did not disrupt the normal operation of the fund. Fees for the fund are unchanged and the advisor will continue to be Exchange Traded Concepts. The fund will continue to be sponsored by Dallas, Texas-based, EVE Capital and, as with WEAR, the fund's index provider is EQM Indexes LLC. EQM Indexes is a San Diego-based index provider focused on building indexes that provide innovative, transparent exposure to select thematic opportunities.
ARVR will seek to track the EQM Tactile Analytics AR/VR Index and ARVR will normally invest at least 80% of its total assets in securities of the Index. The Index 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. For more information about the index please visit eqmindexes.com
To learn more about the AR/VR industry, please visit Tactile Analytics' website: https://tactile-arvr.com
Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained by visiting www.ARVRETF.com. Read the prospectus carefully before investing.
Investing involves risk, including possible loss of principal. Investments in foreign securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Investing in emerging markets involves different and greater risks, as these countries are substantially smaller, less liquid and more volatile than securities markets in more developed markets. The Fund may invest a relatively large percentage of its assets in securities denominated in non-U.S. currencies, the values of which may be affected by changes in the currency rates or exchange control regulations.
Information technology companies may be smaller and less experienced companies, with limited product lines, markets or financial resources and fewer experienced management or marketing personnel. Information technology company stocks, especially those which are Internet related, have experienced extreme price and volume fluctuations that are often unrelated to their operating performance. The Fund is non-diversified which means it may be invested in a limited number of issuers and susceptible to any economic, political and regulatory events than a more diversified fund. Diversification may not protect against market risk.
Exchange Traded Concepts, LLC serves as the investment advisor, and Vident Investment Advisory LLC serves as the sub-advisor to the fund. The Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.
SOURCE Exchange Traded Concepts, LLC