The BLDRS Emerging Markets 50 ADR Index Fund (Fund) seeks to provide investment results that correspond generally, before fees and expenses, to the price and yield performance of the BNY Mellon Emerging Markets 50 ADR Index (Index). The Fund normally holds at least 95% of its total assets in depositary receipts (DR) that comprise the Index.
The Index is capitalization-weighted and designed to track the performance of approximately 50 emerging market-based DRs. The Fund and the Index are rebalanced and reconstituted quarterly.
The Fund is an “index fund” that holds publicly traded DRs, negotiable U.S. securities that generally represent a non-U.S. company’s publicly traded equity or debt, of non-U.S. companies in a particular geographic region or market represented by a specified relevant benchmark BNY Mellon ADR Index.
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