This ETF typically allocates a minimum of 80% of its investable capital, encompassing both its net assets and any borrowed funds for investment purposes, to equity instruments of companies operating in emerging markets. The advisor considers a company to be an emerging market entity if it is incorporated or primarily conducts its business in such a country. Its equity holdings are predominantly common shares and various forms of depositary receipts, which include unsponsored types, but may also extend to preferred stock and shares of other investment funds.