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The fund is a passively managed ETF, which aims to track the Net Total Return performance of the FTSE 250 Index (the Index), less fees, expenses and transaction costs. The Index is representative of the 250 largest UK-domiciled companies, which pass screening for size and liquidity. The fund does this through the use of unfunded swaps. The Index is a capitalisation weighted index of the 250 mid-capitalised companies traded on the London Stock Exchange. The Index is designed to measure the performance of the mid-cap capital and industry segments of the UK market not covered by the large cap FTSE 100 Index. Income is reinvested into the fund.
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