Quincy Jones ETF Is A Thing
A legend in the entertainment field moves into ETFs.
In a development that surely adds some glamour to the ETF space, legendary music producer Quincy Jones has placed his name on an ETF currently in registration. The Quincy Jones Streaming Music, Media & Entertainment ETF (QJ) will track an index that covers companies involved in every aspect of the streaming of entertainment online.
According to the prospectus, eligible companies must have market capitalizations of at least $1.5 billion and a six-month average daily trading value of at least $5 million; they must also be listed on a U.S. exchange.
Companies are drawn from a wide range of industries, from entertainment and leisure companies to technology manufacturers to telecommunications and internet-based companies, among other categories.
The methodology selects the largest 100 companies meeting its criteria—or as many companies that meet the criteria if there are fewer than 100—and equal-weights them, the prospectus said.
Licensing Only
However, it should be noted that the document includes a disclaimer “by Quincy Jones” that specifically notes he has had no involvement in the development or design of the index that is to underlie QJ or in the development and issuance of the fund itself. His involvement appears to be purely in the licensing of his name for use in the fund’s name.
The fund is slated to list on the NYSE Arca; the filing did not include an expense ratio.
Contact Heather Bell at [email protected].
