IndexIQ has launched the IQ Japan Mid Cap ETF, which it says is the first exchange-traded fund focused on Japanese mid-cap equities.
Japan’s mid-cap stock sector is comprised of many of Japan’s most successful companies and the underlying index, the IQ Japan Mid Cap Index, has a high concentration in industrial (23.16%), financial (17.69%) and technology (9.08%) stocks.
“Japan has seen more than its share of tragedy this year, yet the country is remarkably resilient with a strong global economic base supported domestically by many leading small- and mid-cap companies,” said Index IQ Chief Executive Officer Adam Patti. “To date, there has been no way for individuals in the U.S. to get focused exposure to the potential of these mid-sized companies. The IQ Japan Mid Cap ETF allows investors to isolate and access this sector of the Japanese economy in a low cost, highly liquid, tax- efficient way.”
With this launch, IndexIQ now has six country-focused ETFs, with the existing five targeting small-cap stocks in South Korea, Taiwan, Australia, Canada and Hong Kong.