IBRN

IBRN is the first ETF to have a global pure-play bet on neurosciences that specifically focuses on research, development, or manufacturing of neurology biopharmaceuticals or neurological devices. These are typically associated with the treatment of neurological disorders. The index includes companies in the sub-industries classified as either/or Neurology Biopharmaceuticals and Neurology Devices by the FactSet Revere Business Industry Classification System (RBICS). 50% of the company's annual revenues or, for pre-revenue companies, the company's primary business must be under these sub-industries. Companies whose business description, trade names, or supply chain relationships indicate involvement with psychedelics or cannabis, based on an analysis using FactSet keyword data, are explicitly excluded. Eligible equities include large- to small-cap companies that meet liquidity and tradability criteria. The market cap-weighted index is reviewed and reconstituted semi-annually starting March and rebalanced quarterly. Individual securities are capped at 4% of each reconstitution and rebalance.