ETF Managers Group (ETFMG), the white-label exchange-traded fund provider which brought a billion-dollar cyber security exchange-traded fund to market in July, has criticised Nasdaq, the fund's former index provider, over its maintenance of the product's index. Nasdaq was removed as the index provider for the ETF in 2014. ETFMG says the firm did not update or manage the fund's index appropriately, allowing for a rival product, also indexed by Nasdaq, to achieve superior performance. Nasdaq has sued ETFMG over issues surrounding the ownership of the ETF.
ETF Managers Group (ETFMG), the white-label exchange-traded fund provider which brought a billion-dollar cyber security exchange-traded fund to market in 2014, has criticised Nasdaq, the fund's former index provider, over its maintenance of the product's index. Nasdaq was removed as the index provider for the ETF in July. ETFMG says the firm did not update or manage the fund's index appropriately, allowing for a rival product, also indexed by Nasdaq, to achieve superior performance. Nasdaq has sued ETFMG over issues surrounding the ownership of the ETF.