IVRS

IVRS invests in companies from around the world, excluding India, that are expected to contribute to the "metaverse,” defined by the issuer as a three-dimensional immersive digital world. Companies are evaluated based on 5-year revenue projections and exposure to the fund's broad themes that cover areas such as virtual platforms, social media, gaming, 3D software, virtual and augmented reality, etc. Revenue projections are based on fundamental and technical factors. Companies are scored and ranked based on revenue projections and relevance to themes. Tier 1 companies are selected first, making up at least 80% of the portfolio. Tier 2 companies are then considered, prioritizing higher scores, current constituents, and smaller-cap companies. The portfolio is market cap-weighted with set limits for securities, issuers, and the Metaverse Platform theme. The fund does not invest in cryptocurrencies and digital assets, but it may engage in securities lending. The index is reconstituted each December and rebalanced quarterly.