KOMP - SPDR® S&P Kensho New Economies Comps ETF
KOMP looks for companies from developed and emerging markets that are transforming the economy by driving innovation and advancements in “new economy” technologies. The fund’s underlying index is a composite of various S&P New Economy sub-indexes, each constructed around a theme such as autonomous vehicles, 3D printing, genetic engineering, nanotechnology, and the like. The sub-indexes themselves rely on AI to select constituents—a computer algorithm scans company filings for relevant terms, selects holdings, and classifies them as “core” or “non-core” based on the frequency and position of these terms. Holdings within each sub-index are initially equal-weighted, with an overweight applied to core firms. KOMP’s underlying composite index weights each sub-index by a proprietary risk/return ratio. The index rebalances on a semi-annual basis.