The No Underlying Index measures the performance of Investment Grade securities and is selected by a Proprietary process. Currently, 202 ETFs track the No Underlying Index with more than $43.78 B in ETP assets with an average expense ratio of 0.76%. The largest ETF is PIMCO Enhanced Short Maturity Active ETF (MINT) by PIMCO with $7.85 B in assets.
In the last 12 months, the best performing No Underlying Index ETF was the REX VolMAXX Short VIX Weekly Futures Strategy ETF (VMIN) at 189.71%. The most-recent ETF launched by No Underlying Index was the First Trust Municipal High Income ETF (FMHI) in November 2017.