Profits From New Global X Food ETF Will Help Fight Hunger
Global X introduced a new ETF targeting the global food industry on May 3, and said it will donate all profits to help fight world hunger. The Global X Food ETF (EATX) tracks the Solactive Global Food Index, consisting of the 50 largest global firms with significant business operations in the food industry. The index targets companies that derive the majority of their revenue from the production, development, or distribution of food or food ingredients. Stock weightings are determined by free float capitalization, but to ensure diversification, positions are capped at 4.75% at each 6-month rebalancing. There are seven stocks … Read more