Today, Global X rolled out another ETF that focuses on companies benefiting from the trends set in motion by the coronavirus pandemic. The Global X Telemedicine & Digital Health ETF (EDOC) follows the issuer’s launch of a fund targeting digital learning, the Global X Education ETF (EDUT), earlier this month.
EDOC comes with an expense ratio of 0.68% and lists on the NYSE Arca.
Companies are eligible for inclusion if they meet size and liquidity requirements and at least half of their revenue, operating income or assets are related to telemedicine, health care analytics, connective health care devices and administrative digitization. The index is driven by artificial intelligence, relying on a natural language processing algorithm to identify companies engaged in the designated business activities, according to the prospectus.
Companies are drawn from developed markets and weighted by modified market capitalization, with rebalancing and reconstitution scheduled twice a year. The index had 40 constituents at the beginning of July, the document notes.
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