AXS Knowledge Leaders ETF(AMEX:KNO)

KLDW is actively-managed to invest in 22 developed market countries excluding Hong Kong, non-US stocks will have at least 40% exposure to these markets. The portfolio will include large- and midcap companies as it seeks to capture the knowledge effect the tendency of innovative companies to outperform. KLDWs proprietary model adjusts historical financial statements for intangibles and capitalizes a companys financial strength, profitability, and investment in innovation. After these adjustments, the fund adviser selects only the most liquid companies. Intangible assets include R&D, advertising, brand development, and employee training expenses. On May 26, 2020, the fund reorganized from a passively-managed fund tracking the Knowledge Leaders Developed World Index to an actively-managed one. Also, Knowledge Leaders Capital, LLC replaced Exchange Traded Concepts, LLC as its investment adviser.