IndexIQ, the issuer perhaps best known for its hedge fund replication ETFs, rolled out the latest addition to its growing suite of small cap lineup today: the IQ U.S. Real Estate Small Cap ETF (ROOF). The new product will be the first to offer exposure exclusively to small cap U.S. REITs, seeking to replicate the IQ US Real Estate Small Cap Index. That benchmark includes about 35 individual securities with a weighted average market capitalization of just over $1 billion; the underlying index is constructed by taking the bottom 10% of the market capitalization of U.S. REITs, subject to certain minimum market capitalization and average daily trading volume restrictions. [click to continue…]
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