Cloud Computing ETF Planned

1. Cloud Computing ETF Planned Global X has filed for an ETF that will target the cloud computing space. The Global X Cloud Computing ETF will track the Indxx Global Cloud Computing Index, which is global in scope and aims to capture the performance of companies likely to benefit from the growing adoption of cloud computing technology. For more information visit: https://www.indxx.com/home/calculation To be eligible for inclusion, listed companies are subject to minimum requirements regarding size and liquidity, and typically must generate at least half of their revenue from cloud computing-related business activities. Companies generating less than half of their revenue from cloud computing are grouped together and subject to a 10% cap on their combined weight in the index, according to the fund document. Scope The scope of the index covers companies that provide subscription-based software over the internet, those that provide the platforms to develop internet-distributed software applications, those that provide virtualized computing infrastructure via the internet, those that provide facilities for the storage of data and servers, and those that provide hardware for cloud computing activities, the prospectus says. The index is weighted by modified market capitalization, and is reconstituted and rebalanced twice a year, the document notes. There is only one other cloud computing ETF listed on U.S. markets. The First Trust Cloud Computing ETF (SKYY) charges an expense ratio of 0.60% and has $1.7 billion in assets under management. The filing for the Global X fund did not include an expense ratio, ticker or listing exchange.