Factor Advisors and Reality Shares have launched the PureFunds Drone Economy Strategy ETF (IFLY), the first exchange-traded fund providing access to companies designing, manufacturing, and researching drones and drone technology.
IFLY is the fourth addition to PureFunds’ suite of SelecTech ETFs, following first-to-market ETFs for cyber security, big data, and mobile payments technologies.
“Like other established investment sectors, technology has been driven by the growth of its various industries,” says Andrew Chanin, CEO of PureFunds. “Investors of all backgrounds have sought the opportunity to diversify their broad technology exposure with a thematic approach, and the PureFunds Drone Economy Strategy ETF offers added flexibility for investing in technology.”
IFLY will seek to correspond to the price and yield performance of the Reality Shares Drone™ Index (index ticker: RSD), a group of 47 companies determined based on a combination of: projected revenue from drone technology; direct involvement in developing or researching drone technology; services provided to companies directly involved in drone technology; and the expected growth of a company’s revenue from drone technology.
“Drones have already demonstrated how they can reshape the work of some corporations and government entities,” says Kian Salehizadeh, Analyst at Reality Shares. “Insurers are using them to evaluate claims and property damage, agriculturalists can better address crop and land damages, and police departments have deployed drones to address criminal activity before it begins. New discoveries of drone use will continue as more organisations embrace the latest advances in technology.”
“We are pleased to support the PureFunds Drone Economy Strategy ETF, the first ETF dedicated to drone technology,” says Kris Monaco, Head of ISE ETF Ventures. “It is important for the ETF marketplace to empower investors with access to new investment concepts that reflect the growth an evolving global economy.”
Sam Masucci, founder and CEO of ETF Managers Group, says: “The Drone Economy Strategy ETF offers investors a potential unique opportunity to benefit from the fast moving and exciting business linked to drone development. Many companies and industries will benefit from the growth in this space through the manufacturing of drone hardware components and software or the many efficiencies this new technology brings to existing industries. ETF Managers Group is proud to be a part of the team delivering this exciting new ETF.”