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MUSQ GLOBAL MUSIC INDUSTRY INDEX ICON

MUSQ GLOBAL MUSIC INDUSTRY INDEX

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The index selection process selects equities for the selection pool that meet the following conditions as determined the Index Provider.  Securities are selected based on the following criteria:

  • The initial investable universe consists of publicly-traded global companies and publicly-traded music funds and/or royalty trusts.
  • The Index seeks to provide exposure to global companies with a core business interest in the global music industry. Companies must derive at least 50% of their annual revenues from the global music industry or be in the top 5 companies or have at least 10% of global market share in one or more of the following industry sub-segments:
    • Music streaming;
    • Music content and distribution;
    • Live music events/ticketing;
    • Satellite and broadcast radio;
    • Music equipment and technology.
  • Companies must be listed on a regulated global stock exchange in the form of shares tradable for foreign investors without restrictions with adequate liquidity for an exchange traded product as determined by the Index provider.
  • Market capitalization or assets under management of at least $100 million USD at time of rebalance.
  • Average daily traded value of at least $500,000 USD over the last six months at time of rebalance, or at least $200,000 USD average traded value over the last six months for existing components.
  • Components that meet all other inclusion requirements, but have an average daily traded value between $200,000 and $500,000 USD over the last six months, are eligible for inclusion but will receive half the market capitalization weight with the residual weight redistributed among the other, more liquid components.
  • China domiciled companies will be Hong Kong traded versions if available, provided their liquidity is comparable to US exchange-listed ADR shares, otherwise the US exchange-traded ADR version will be utilized.
  • Special Purpose Acquisition Company (SPAC) targets are eligible for inclusion once they are trading on a public exchange as the target entity, provided they meet all other eligibility criteria.

The daily price and return of the MUSQ Global Music Industry Index (MUSQIX) is calculated and published by Refinitiv LSEG.

The MUSQ Global Music Industry Index is a passively managed index. It is not possible to invest in an index. For more information on the ETF tracking this index, contact musqetf.com.

The MUSQ Global Music Industry Index is an index created by EQM Indexes. Please email inquiries to info@eqmindexes.com.

Quotes for the MUSQ Global Music Industry Index can be found each day under the symbol MUSQIX on Bloomberg, on Reuters as .MUSQIX and from other financial data providers.

The company did not meet the selection criteria when the index was last reconstituted. Companies that now meet index selection criteria will become candidates for inclusion at the next quarterly reconstitution date or on an extraordinary adjustment basis if warranted.

In the event of an IPO, in the case of a listing change from an over-the-counter exchange to a regulated stock exchange of a company, or if an exchange listed company has a change in business model that makes it of high importance to the MUSQ Global Music Industry Index, the index committee can decide to include these companies on an extraordinary adjustment event. The company must fulfill all quantitative requirements as outlined in the index methodology to be eligible for inclusion.  The Index will be reweighted according to the methodology rules for rebalancing.

If an index component’s stock is discontinued due to a merger or acquisition, the index committee may, at its sole discretion, replace the discontinued component at the time of discontinuation if more than 30 calendar days remain until the next reconstitution date.  The discontinued component will either be deleted entirely or be replaced with the next eligible security from a reserve list.  The replacement will be given the appropriate weighting given the securities country of domicile. If there are not more than 30 calendar days remaining until the next reconstitution date, the index committee will wait until the next reconstitution date to make the replacement.  In this scenario, any funds received from the discontinued security will be distributed to the remaining index components pro rata.

The index is rebalanced quarterly on the fourth Thursday in January, April, July, and October.  If this happens to be a non-Business Day, the adjustment is conducted on the preceding Business Day.