QWLD ISSUER
The QWLD issuer, managed by State Street Global Advisors, utilizes a sampling strategy to track the performance of the MSCI World Factor Mix A-Series Index. This approach allows the fund to achieve similar risk and return characteristics as the index without needing to purchase all of its securities. Depending on various factors such as asset size, the adviser may choose to invest in a subset of index securities or replicate the index's composition proportionally. While classified as diversified, the fund may become non-diversified due to changes in index weightings. Under normal conditions, the fund predominantly invests in index securities and depositary receipts, but it may also hold equity securities outside the index, cash equivalents, and money market instruments. The index itself comprises large- and mid-cap stocks across 23 developed countries, emphasizing value, low volatility, and quality factor strategies. Rebalanced semi-annually, the index includes securities from sectors like technology, healthcare, and finance, with significant representation from the United States. Despite being sponsored by MSCI, Inc., the index provider, the fund and its adviser are not affiliated with it.
QWLD DIVIDEND
QWLD Dividend, managed by State Street Global Advisors, aims to provide investors with exposure to dividend-paying stocks across the global equity market. Employing a dividend-focused strategy, the fund seeks to track the performance of an index that comprises companies with a history of consistent dividend payouts. While not obligated to hold all securities in the index, the fund employs a sampling strategy to maintain similar risk and return characteristics. Under normal market conditions, a substantial portion of the fund's assets are invested in dividend-paying securities and depositary receipts, with the flexibility to invest in other equity securities, cash equivalents, and money market instruments. The index reflects a diverse range of dividend-paying companies across various sectors and geographies, providing investors with a broad opportunity for income generation. As with other funds managed by State Street Global Advisors, QWLD Dividend operates independently of the index provider, MSCI, Inc., despite tracking an index sponsored by the latter.
QWLD TRACKING
QWLD Tracking, overseen by State Street Global Advisors, is designed to mirror the performance of the MSCI World Factor Mix A-Series Index, utilizing a meticulous tracking strategy. Employing a blend of sampling and replication techniques, the fund endeavors to closely match the risk and return characteristics of the index. This approach grants flexibility, allowing the fund to invest in a subset of index securities or replicate the entire index, depending on various factors such as asset size and market conditions. Under normal market circumstances, the fund predominantly invests in index securities and depositary receipts, striving to maintain a high correlation with the index's movements. Additionally, QWLD Tracking may hold equity securities beyond those included in the index, as well as cash equivalents and money market instruments, to manage cash flows effectively. By focusing on precise tracking, the fund aims to provide investors with a reliable avenue for gaining exposure to the global equity market's performance as represented by the MSCI World Factor Mix A-Series Index.
QWLD CORRELATION
QWLD Correlation, managed by State Street Global Advisors, is structured to closely correlate with the performance of the MSCI World Factor Mix A-Series Index. Employing sophisticated correlation strategies, the fund aims to replicate the index's movements with precision. By utilizing a combination of sampling and replication methodologies, QWLD Correlation endeavors to match the risk and return characteristics of the index, ensuring that investors experience similar performance. Under typical market conditions, the fund primarily invests in securities comprising the index, along with depositary receipts, while also holding additional equity securities, cash equivalents, and money market instruments as needed. Through rigorous correlation management, the fund offers investors a reliable means of gaining exposure to the global equity market's performance as reflected by the MSCI World Factor Mix A-Series Index, thereby providing a valuable tool for portfolio diversification and risk management.
QWLD SECTOR
QWLD Sector, overseen by State Street Global Advisors, is strategically crafted to focus on specific sectors within the global equity market. With a sector-focused approach, the fund aims to capture the performance of select industries while maintaining diversification across various sectors. Leveraging in-depth sector analysis and market research, QWLD Sector targets sectors poised for growth or exhibiting strong performance potential. The fund's investment strategy involves weighting its holdings towards sectors expected to outperform, while also considering factors such as sector rotation and market trends. Under normal market conditions, QWLD Sector invests predominantly in securities within targeted sectors, along with depositary receipts, and may also hold additional equity securities, cash equivalents, and money market instruments as necessary. By concentrating on specific sectors, the fund provides investors with a specialized avenue for capitalizing on sector-specific opportunities within the global equity market, offering potential for enhanced returns while managing sector-specific risks.
QWLD EXPOSURE
QWLD Exposure, managed by State Street Global Advisors, is meticulously crafted to provide investors with targeted exposure to specific market factors within the global equity landscape. Employing a factor-based investment approach, the fund seeks to capture the performance of key factors such as value, low volatility, and quality. Through a combination of quantitative analysis and factor weighting, QWLD Exposure aims to replicate the risk and return characteristics associated with these factors. The fund's strategy involves weighting its holdings towards securities exhibiting the desired factor characteristics, while maintaining diversification across sectors and geographies. Under normal market conditions, QWLD Exposure predominantly invests in securities aligned with the targeted factors, along with depositary receipts, and may also hold additional equity securities, cash equivalents, and money market instruments as required. By focusing on specific market factors, the fund offers investors a tailored approach to harnessing potential sources of returns within the global equity market, providing opportunities for enhanced portfolio performance while managing associated risks.
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