NYLI U.S. Large Cap R&D Leaders ETF
LRND
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- NYLI U.S. Large Cap R&D Leaders ETF (LRND) is an exchange-traded fund that seeks investment results tracking, before fees and expenses, the price and yield performance of the NYLI U.S. Large Cap R&D Leaders Index. The fund provides exposure to innovative U.S. large-cap equity securities selected for high research and development (R&D) spending, consistent R&D investment, and efficient capital allocation measured by proprietary metrics combining R&D intensity with return on invested capital (ROIC); it holds approximately 102 stocks, with top holdings including NVIDIA Corporation (14.69%), Microsoft Corporation (13.10%), and Apple Inc. (13.02%) as of September 30, 2025, and sector allocations led by information technology (59.05%), communication services (12.39%), and health care (10.03%). The ETF operates in the large blend category, targets institutional and retail investors seeking growth-oriented exposure to R&D leaders shaping transformative technologies, and is listed on NYSE Arca with total net assets of approximately $8.95 million, a net expense ratio of 0.14% following waivers, and quarterly distributions yielding 0.92% trailing twelve months. Launched on February 8, 2022, and headquartered with New York Life Investments in Jersey City, New Jersey, the fund was formerly known as IQ U.S. Large Cap R&D Leaders ETF prior to a rebranding. In August 2024, effective August 28, New York Life Investments renamed its IndexIQ fund lineup, including LRND, to align with the NYLI brand as part of a broader strategic rebranding of MainStay and IndexIQ products announced in June 2024. The index itself, ticker IQLCRNDT, dates to November 30, 2021, and uses constituents from the Russell 1000 Growth Index as its starting universe, focusing on the highest one-year R&D spenders for long-term competitive positioning. No recent partnerships, acquisitions, funding rounds, or new product launches specific to LRND have been reported within the last 1-2 years beyond the rebranding.