The UBS IQ Morningstar Australia Quality ETF is a systematically managed, equally weighted investment product designed to provide exposure to high-caliber Australian companies that Morningstar identifies as possessing enduring competitive advantages through its exclusive analytical framework. This fund tracks an underlying index, engineered to concentrate holdings in approximately 25-50 businesses with either significant ('wide') or moderate ('narrow') economic 'moats' selected from the broader Morningstar Australia Index™. These chosen companies exhibit the most favorable valuations, specifically the lowest current market price relative to their estimated intrinsic value, as assessed through an independent research process carried out by Morningstar's Equity Research division.