The Next Frontier Internet ETF
The Next Frontier Internet ETF (NYSE: FMQQ) is designed to provide investors with exposure to the Internet and ecommerce sectors of emerging markets excluding China.
FMQQ Fund Materials
Data as of 07/25/2025
30 Day Median Bid-Ask Spread : The spread is calculated from (i) sampling the ETFs NBBO as of the end of each 10 second interval during each trading day of the last 30 calendar days; (ii) dividing the difference between each such bid and offer by the 14.59 of the NBBO; and (iii) identifying the median of those values.
NET ASSET VALUE (NAV)
Market Price
PERFORMANCE
Cumulative (%) | Avg Annualized (%) | |||||||
---|---|---|---|---|---|---|---|---|
1 Month | 3 Month | YTD | Since Inception | 1 Year | 3 Years | 5 Years | Since Inception | |
Fund NAV | 6.56% | 19.27% | 19.56% | -41.15% | 23.41% | 13.37% | TBD | -13.15% |
Market Price | 6.76% | 20.40% | 20.88% | -40.87% | 23.29% | 13.37% | TBD | -13.05% |
Cumulative (%) | Avg Annualized (%) | |||||||
---|---|---|---|---|---|---|---|---|
1 Month | 3 Month | YTD | Since Inception | 1 Year | 3 Years | 5 Years | Since Inception | |
Fund NAV | 6.56% | 19.27% | 19.56% | -41.15% | 23.41% | 13.37% | TBD | -13.15% |
Market Price | 6.76% | 20.40% | 20.88% | -40.87% | 23.29% | 13.37% | TBD | -13.05% |
HOLDINGS AS OF 07/25/2025
COMPANY NAME | TICKER | FIGI | QUANTITY | MARKET VALUE | % OF NET ASSET VALUES |
---|---|---|---|---|---|
MERCADOLIBRE INC | MELI | BBG000GQPB11 | 944 | 2,230,256.64 | 7.20% |
RELIANCE INDUSTRIES LTD ORD | RELIANCE IN | BBG000BKVP93 | 136,557 | 2,196,528.33 | 7.10% |
NU HOLDINGS LTD | NU | BBG0136WM1M4 | 163,621 | 2,082,895.33 | 6.73% |
SEA LTD | SE | BBG00HTBWMG5 | 13,196 | 2,081,141.16 | 6.72% |
ETERNAL LTD | ETERNAL IN | BBG003DKJ5C9 | 542,806 | 1,948,289.04 | 6.29% |
BAJAJ FINANCE LTD | BAF IN | BBG000DBLZQ1 | 154,993 | 1,636,879.42 | 5.29% |
GRAB HOLDINGS LTD - CL A | GRAB | BBG011768M53 | 279,353 | 1,497,332.08 | 4.84% |
JIO FINANCIAL SERVICES LTD | JIOFIN IN | BBG002WN2L82 | 406,142 | 1,461,047.98 | 4.72% |
KASPI.KZ JSC SPONSORED ADS | KSPI | BBG00NNN9QQ8 | 17,056 | 1,449,760.00 | 4.68% |
MAKEMYTRIP LTD | MMYT | BBG000BB34J0 | 11,653 | 1,197,345.75 | 3.87% |
PB FINTECH LTD | POLICYBZ IN | BBG004DZ49P8 | 58,053 | 1,195,262.60 | 3.86% |
XP INC | XP | BBG00QVJYGM9 | 66,774 | 1,105,777.44 | 3.57% |
ALLEGRO.EU SA | ALE PW | BBG00XC93536 | 102,752 | 1,029,547.90 | 3.33% |
COUPANG INC | CPNG | BBG00XMJRPQ8 | 32,984 | 997,766.00 | 3.22% |
INFO EDGE INDIA LTD | INFOE IN | BBG000HS7804 | 55,032 | 913,688.46 | 2.95% |
NAVER CORP | 035420 KS | BBG000PF9ZK9 | 5,106 | 868,625.63 | 2.81% |
KAKAO CORP | 035720 KS | BBG000C3SL93 | 20,692 | 837,617.32 | 2.71% |
SWIGGY LTD | SWIGGY IN | BBG008G5QN13 | 152,858 | 720,729.54 | 2.33% |
STONECO LTD | STNE | BBG00M4ZQDK0 | 48,680 | 651,338.40 | 2.10% |
ONE 97 COMMUNICATIONS LTD | PAYTM IN | BBG000QYN0B8 | 52,589 | 648,995.53 | 2.10% |
GOTO GOJEK TOKOPEDIA TBK PT | GOTO IJ | BBG0166VCHM5 | 164,477,800 | 584,720.34 | 1.89% |
JUBILANT FOODWORKS LTD ORD | JUBI IN | BBG000PPXMG4 | 68,220 | 511,760.88 | 1.65% |
FSN E-COMMERCE VENTURES LTD | NYKAA IN | BBG006L4NN17 | 200,437 | 491,656.61 | 1.59% |
DELIVERY HERO SE | DHER GR | BBG0028W9747 | 14,005 | 456,549.07 | 1.47% |
INTER & CO INC - BDR | INBR32 BZ | BBG017Y8GCY7 | 51,076 | 342,507.86 | 1.11% |
MULTICHOICE GROUP LTD | MCG SJ | BBG00N2W9W60 | 46,966 | 316,734.85 | 1.02% |
PAGSEGURO DIGITAL LTD | PAGS | BBG00JM7QBR6 | 37,334 | 304,645.44 | 0.98% |
KAKAOBANK CORP | 323410 KS | BBG00BLT3N95 | 14,469 | 301,776.45 | 0.97% |
ANGEL ONE LTD | ANGELONE IN | BBG004XC9DW5 | 7,568 | 237,926.72 | 0.77% |
INDIAN ENERGY EXCHANGE LTD | IEX IN | BBG00175LT65 | 133,862 | 224,368.78 | 0.72% |
TRUECALLER AB-B W/I | TRUEB SS | BBG012JDQR43 | 40,031 | 217,067.57 | 0.70% |
AFFLE INDIA LTD | AFFLE IN | BBG00PT8RTT1 | 9,465 | 197,086.20 | 0.64% |
NCSOFT CORP ORD | 036570 KS | BBG000BZZ983 | 1,173 | 166,191.66 | 0.54% |
BRAINBEES SOLUTIONS ORD | FIRSTCRY IN | BBG002N7XQP3 | 38,206 | 157,688.00 | 0.51% |
VK CO LTD | VKCO LI | BBG00178PGW4 | 7,810 | 78.10 | 0.00% |
CASH & OTHER | Cash-USD | BBG0013HGBT3 | -306,177 | -306,177.52 | -0.99% |
DISTRIBUTIONS
Month | Ex Date | Record Date | Pay Date | Dividend | Short Term Capital Gains |
---|---|---|---|---|---|
December | 12/30/2024 | 12/31/2024 | 12/31/2024 | 0.057 |
Month | Ex Date | Record Date | Pay Date | Dividend | Short Term Capital Gains |
---|---|---|---|---|---|
December | 12/26/2023 | 12/27/2023 | 12/29/2023 | 0.011972 |
Month | Ex Date | Record Date | Pay Date | Dividend | Short Term Capital Gains |
---|---|---|---|---|---|
December | 12/28/2021 | 12/29/2021 | 03/01/2022 | 0 |
PREMIUM DISCOUNT TABLE
Calendar Year 2024 | First Quarter 2025 | Second Quarter 2025 | |
---|---|---|---|
Days traded at nav | 1 | 0 | 1 |
Days traded at premium | 187 | 9 | 27 |
Days traded at discount | 64 | 51 | 34 |
PREMIUM DISCOUNT GRAPH
Disclosures
Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s prospectus, which may be obtained by visiting www.emqqglobaletfs.com. Read the prospectus carefully before investing.
Market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the funds. Brokerage commissions will reduce returns.
Risk Information
Investing involves risk, including the possible loss of principal. Investments in smaller and mid-sized companies typically exhibit higher volatility. The funds are non-diversified. International investing may involve risk of capital loss from unfavorable fluctuations in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Frontier markets generally have less developed capital markets than traditional emerging market countries, and, consequently, the risks of investing in foreign securities are magnified in such countries. These countries are subject to potentially significant political, social and economic instability, which could materially and adversely affect the companies in which the Fund may invest. The Fund invests in the securities of Internet Companies, including internet services companies and internet retailers, and is subject to risk that market or economic factors impacting technology companies and companies that rely heavily on technology advances could have a major effect on the value of the Fund’s investments.