News Summary

• The fund will track an index focused on companies whose business models depend on human labor, physical assets and tangible output.
• Wedbush’s fund will focus on companies in industries including construction and materials, machinery, vehicle and equipment manufacturing, distribution and environmental and commercial services.
• Its closest analogs (sorry, not sorry) are funds that track the HALO index (heavy asset, low obsolescence) The State Street SPDR S&P Biotech ETF is up 33% this year, but fund flows remain muted.