NYLI Global Equity R&D Leaders ETF (WRND)

The NYLI Global Equity R&D Leaders ETF (WRND) is an exchange-traded fund that seeks to track the NYLI Global Equity R&D Leaders Index, providing exposure to large and mid-cap companies worldwide that invest heavily in research and development and demonstrate strong returns on those investments.

“An index that rewards the firms that turn R&D spending into earnings, not just the spenders themselves.”

What the fund tracks

WRND seeks to provide exposure to global companies that excel at converting research-and-development investment into future growth. Rather than simply weighting the index toward the firms that spend the most on R&D in absolute terms, the underlying index applies proprietary screens that combine R&D intensity — research spending as a fraction of revenue — with return on invested capital. This means the fund holds companies that not only invest heavily but deploy that capital with discipline. The eligible universe spans large and mid-cap equities from developed markets, screening for companies whose innovation spending translates into competitive moats and revenue growth.

Holdings and sector composition

The fund’s portfolio is concentrated in sectors where R&D is a competitive necessity: technology dominates at roughly one-third of the portfolio, healthcare at nearly a quarter, and consumer cyclical at a fifth. Top holdings include major software, semiconductor, and biotechnology firms with well-documented research operations. The concentration reflects the reality that R&D-driven competition is most intense in innovation-heavy industries. Geographic exposure spans North America, Europe, and Asia-Pacific, with North American companies representing a material overweight, consistent with the relative R&D spending and market capitalisation of firms in those regions.

How it trades and costs

WRND is a passive index-tracking fund, meaning it aims to replicate the holdings and weightings of the underlying index rather than employing active stock selection. It trades on the NASDAQ like any other ETF, and the fund benefits from competitive expense ratios; New York Life Investments positions WRND in the lowest quintile of fees among peers, making it a cost-efficient way to access this particular growth and innovation tilt. Trading liquidity depends on the size and trading volume of the fund itself, which influences the spreads between buy and sell prices an investor may encounter.

What investors should know

This fund carries the risks inherent in all equity exposure: market downturns affect holdings, and concentrated sector weights — especially in technology — mean that sector-specific shocks can move the fund meaningfully. Growth-oriented companies also tend to suffer more in periods of rising interest rates, since much of their value rests on future earnings discounted at lower rates. Additionally, the R&D intensity screen creates a tilt toward higher-valuation companies that have already demonstrated strong returns on capital; mean reversion is a real risk if market sentiment shifts away from growth stocks.

The fund is appropriate for long-term investors seeking global equity exposure with a built-in tilt toward innovation and research-driven competitive advantage. It works well as a core equity holding or as a complement to more value-oriented or dividend-focused equity positions. Investors should review the prospectus and fact sheet for the full list of index construction rules, how often the index is rebalanced, and any restrictions on trading or fund minimums.

How to research WRND

Start with the fund fact sheet available from New York Life Investments’ website, which outlines the index methodology, current holdings, and sector and geographic breakdowns. The underlying NYLI Global Equity R&D Leaders Index itself is the subject of a detailed methodology document that explains how companies are screened and weighted. For deeper analysis, look at the fund’s holdings and compare them to competitors tracking similar ideas — Morningstar and Bloomberg Terminal both provide fund-profile pages with performance history, manager information, and expense-ratio comparisons. The fund’s quarterly distributions and dividend history offer insight into the yield profile of the companies it holds.