WisdomTree has expanded its equity ETF range with the launch of a cloud computing ETF, assisted by Nasdaq and Bessemer Venture Partners (BVP).
The WisdomTree Cloud Computing UCITS ETF (WCLD) is listed on the London Stock Exchange with an expense ratio of 0.4%.
WCLD tracks the performance of the BVP Nasdaq Emerging Cloud Index which is comprised of US-listed companies which are focused on cloud computing technology. The majority of the company’s revenue must come from software products through a cloud delivery model to be included in the ETF.
WisdomTree only adds companies to WCLD’s portfolio that have grown their annual revenue by 15% for each of the last two years. Furthermore, it only keeps existing companies if they have grown their annual revenue by at least 7% in one of the last two years.
Jeremy Schwartz (pictured), WisdomTree’s executive vice-president and global head of research, said in a statement: “As the world becomes increasingly more digital and connected, the global cloud computing market has grown exponentially and is projected to total nearly $697 billion by 2025.
“The WisdomTree Cloud Computing UCITS ETF provides investors with a focused approach to selecting cloud companies and scales the unique expertise of Nasdaq and Bessemer Venture Partners in identifying these companies.”