The underlying MVIS US Listed Semiconductor 25 Index offers exposure to the largest and most liquid U.S.-listed semiconductor companies. Constituents are selected from a universe of U.S.-listed stocks, including American Depository Receipts, with market caps above $150 million and average daily trading volumes exceeding $1 million. To qualify, firms must generate at least 50% of their revenue from the production of semiconductors or semiconductor equipment. The largest 50 eligible companies are then ranked using an equally weighted combination of market capitalization and average daily trading volume. The 25 highest-ranked companies are selected and weighted by float-adjusted market capitalization, subject to an individual cap of 20%. The index is reviewed on a semi-annual basis.