Wedbush ETFMG Global Cloud Technology ETF
IFLY
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- IPO Date
- Mar 9, 2016
- Similar Companies
- Business
- Wedbush ETFMG Global Cloud Technology ETF (IFLY) is an exchange-traded fund that seeks to provide investment results corresponding generally to the price and yield performance, before fees and expenses, of the Dan Ives Global Cloud Technology Prime Index. The fund normally invests at least 80% of its total assets, exclusive of collateral for securities lending, in securities, ADRs, or GDRs of companies across the globe engaged in providing infrastructure, equipment, connectivity, data back-up and storage services, as well as data center management for enterprise-based software applications; it targets small- to mid-cap cloud infrastructure players and cloud enabler companies expected to represent a significant portion of future cloud spending. The ETF focuses on the technology sector, with exposure to blended development levels and global regions through a diversified portfolio of holdings weighted by a proprietary combination of market capitalization and liquidity, reconstituted and rebalanced quarterly. Originally launched in March 2016 as the ETFMG Drone Economy Strategy ETF tracking the Reality Shares Drone Index, the fund underwent a major strategic shift in 2020 through a collaboration between ETF Managers Group (ETFMG) and Wedbush Securities, rebranding to its current name and focus on global cloud technology while adopting the Dan Ives Global Cloud Technology Prime Index. This transformation addressed investor demand for pure-play cloud exposure, named in recognition of Wedbush analyst Daniel Ives, and marked a pivot from drone economy strategies to cloud computing infrastructure and enablers. ETFMG, the issuer based in Summit, New Jersey and founded in 2014, serves as the fund manager alongside administrators including U.S. Bancorp Fund Services; the ETF trades on NYSE Arca with assets under management of approximately $24.50 million as of recent data. It caters to investors seeking thematic exposure to high-growth cloud technology themes amid digital transformation trends.