The No Underlying Index measures the performance of Investment Grade securities and is selected by a Proprietary process. Currently, 245 ETFs track the No Underlying Index with more than $61.55 B in ETP assets with an average expense ratio of 0.70%. The largest ETF is PIMCO Enhanced Short Maturity Active ETF (MINT) by PIMCO with $9.94 B in assets.
In the last 12 months, the best performing No Underlying Index ETF was the ARK Innovation ETF (ARKK) at 49.90%. The most-recent ETF launched by No Underlying Index was the WisdomTree International Multifactor Fund (DWMF) in August 2018.