CI Invesco RAFI Global Small-Mid ETF

About CI Invesco RAFI Global Small-Mid ETF

This ETF, PZW, primarily directs its capital into the equity markets of small and medium-sized enterprises located in developed nations globally. Its core holdings consist of units from two distinct exchange-traded funds (ETFs): the Invesco RAFI US 1500 Small-Mid ETF (PRFZ on Nasdaq) and the Invesco RAFI Developed Markets ex-US Small-Mid ETF (PDN on NYSE Arca), collectively referred to as the "Underlying ETFs." These Underlying ETFs aim to track indices that grant exposure to shares of small and mid-cap companies across developed markets. Rather than employing market capitalization for weighting, the indices followed by these Underlying ETFs select securities based on four fundamental indicators of a company's economic size: adjusted sales, adjusted cash flow, total dividends plus share repurchases, and book value supplemented by intangible assets. PZW also has the option to invest directly in the individual securities that constitute the indices tracked by its Underlying ETFs. The fund targets an even split, allocating 50% of its assets to each Underlying ETF. If, based on the previous day's closing prices, an Underlying ETF's proportion within PZW's portfolio falls below 49.5% or rises above 50.5%, a rebalancing will be executed on the next trading day to restore both Underlying ETFs to their 50% target allocation. Additionally, a monthly rebalancing is performed to ensure each Underlying ETF's weighting is brought back to 50%.