IQ U.S. Mid Cap R&D Leaders ETF
MRND
NASDAQ Global Market- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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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
- United States of America
- IPO Date
- Feb 8, 2022
- Similar Companies
- Business
- IQ U.S. Mid Cap R&D Leaders ETF (MRND) is an exchange-traded fund that seeks to track the performance of the IQ U.S. Mid Cap R&D Leaders Index, providing exposure to innovative U.S. mid-cap companies selected and weighted based on their most recently reported one-year research and development (R&D) spending; the index typically comprises 100 holdings focused on growth and value stocks in this segment. The ETF offers investors targeted access to mid-cap equities with high R&D intensity, spanning sectors such as technology, healthcare, and industrials, with full holdings transparency and annual distributions on a 1099 tax basis. Sponsored by IndexIQ Advisors LLC, a wholly-owned subsidiary of New York Life Investment Management Holdings LLC, the fund operates as an open-ended vehicle with a low expense ratio of 16 basis points and no use of derivatives, options, or currency hedging. Launched on February 8, 2022, and headquartered in New York, New York, the ETF primarily serves institutional and retail investors seeking rules-based exposure to U.S. domestic mid-cap innovation leaders. IndexIQ, acquired by New York Life in 2015, manages the fund from its principal office at 51 Madison Avenue, integrating it into New York Life's broader platform of over $310 billion in assets under management as of the acquisition date. The ETF maintains geographic focus on developed U.S. markets, with weighted average market capitalization aligned to mid-cap profiles between $2 billion and $10 billion. In recent developments, MRND remains listed and active on the NYSE as of late 2025, with shares trading around $22.00 and ongoing market activity reflecting no delisting or termination. The fund continues to emphasize fundamental stock selection and weighting tied to annual R&D expenditures, with no reported acquisitions, mergers, or major strategic shifts specific to MRND in the last one to two years; however, IndexIQ has pursued exchange listing transfers for related R&D Leaders ETFs (LRND and WRND) to enhance liquidity and accessibility. Assets under management stand low at approximately $4.4 million, positioning it as a niche offering within the rules-based U.S. equity ETF category.