They seek to follow a passive index while using alternative weighting rules focused on providing a slightly different outcome than traditional broad-based index
If those standards are not met, and the underwriter changes prices to correspond with the market, the burden of proof to establish the issue price must be based on "a broad-based index
of municipal bond interest rates on bonds similar to the type and credit rating of the bonds being sold." (3) This burden of proof can become an issue because bond prices are likely directly linked to MMD's opinion, which is not an index.
Indexing to a broad-based index
inherently provides diversification (thus mitigating to a degree the effect of crashes, such as the "dot com" bust), provides for an often-increasing dividend stream, all within a low-cost and highly tax-efficient environment.
The ETF comes as the ishares MSCI Saudi Arabia Capped ETF seeks to track the investment results of a broad-based index
composed of Saudi Arabian equities.
The S&P GSCI Natural Gas is a sub-index of the S&P GSCI that includes only the natural gas commodity from the broad-based index
. The spot version reflects only the prices of the included contracts with the first nearby expirations, or the roll period expirations during the roll (when the index exits the expiring contracts and includes contracts with the new roll period expirations).