LRND
IQ U.S. Large Cap R&D Leaders ETF
LRND tracks an index of 100 large-cap US companies selected and weighted based on the most recently reported one year research and development (R&D) spending.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
9.3 M
ASSETS UNDER MGMT
14 bp
EXPENSES
Fund Basics
| Fund sponsor | New York Life |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Feb 08, 2022 |
| Assets (mns) | $9 |
| Expense ratio | 14 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Fundamental |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ALPHABET INC. CLASS A | 11.3 % |
| AMAZON.COM INC | 9.5 % |
| META PLATFORMS INC | 8.3 % |
| MICROSOFT CORP | 6.7 % |
| APPLE INC | 5.7 % |
| INTEL CORP | 4.0 % |
| JOHNSON & JOHNSON | 3.9 % |
| MERCK & CO. INC. | 3.5 % |
| NVIDIA CORP | 2.8 % |
| BROADCOM INC. | 2.7 % |
Constituent Breakdown
| Number of holdings | 102 |
| Herfindahl-Hirschman Index | 484 |
| Wgt avg mkt cap (mns) | $1,384,963 |
| Large cap (>$10bn) | 100.0% |
| Mid cap ($2-10bn) | 0.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.6% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 113.0 % |
 |
IRELAND | 1.1 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 20.7% | 25.1% | 29.8% | 26.7% | -- | -- | -- | 14.3% |
| Dividend Yield | 0.2% | 0.6% | 1.0% | 1.3% | -- | -- | -- | 1.2% |
| Total Returns | 20.9% | 25.6% | 30.8% | 27.9% | -- | -- | -- | 15.5% | Ann. Volatility | 22.0% | 21.2% | 18.0% | 18.3% | -- | -- | -- | 20.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.08 | 86% |
| MSCI EAFE | 0.50 | 24% |
| MSCI Emg Mkts | 0.39 | 17% |
Liquidity Measures
| Avg. volume (000) | 2 |
| ADV traded (mns) | $0 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.08% |
Technical Indicators
| Recent close | $41.21 |
| 30d moving avg. | $40.11 |
| Annualized volatility | 15.1% |
| Relative strength (RSI) | 63 |
| Short interest | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| RND | First Trust Bloomberg R&D Leaders ETF | 60.0% | +46 bp | +3.2% |
| WRND | IQ Global Equity R&D Leaders ETF | 57.5% | +4 bp | +7.3% |
| VSLU | Applied Finance Valuation Large Cap ETF | 54.6% | +35 bp | +5.5% |
| EPS | WisdomTree U.S. LargeCap Fund | 53.6% | -6 bp | +5.6% |
| QRFT | Qraft Ai-Enhanced U.S. Large Cap ETF | 53.0% | +61 bp | +3.9% |
| CRTC | Xtrackers US National Critical Technologies ETF | 52.8% | +21 bp | +4.6% |
| FELG | Fidelity Enhanced Large Cap Growth ETF | 52.3% | +4 bp | +4.5% |
| PJFG | PGIM Jennison Focused Growth ETF | 51.6% | +61 bp | +2.6% |
| SPXN | ProShares S&P 500 Ex-Financials ETF | 51.1% | -5 bp | +4.7% |
| GSUS | Goldman Sachs MarketBeta U.S. Equity ETF | 50.9% | -7 bp | +4.7% |
Risk and Returns: LRND vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/2/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
LRND
5.0%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 997 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.4%. LRND's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places LRND in the 39th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
LRNDSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 627 |
| Avg. Expense Ratio | 46.1 bp |
| Std. Deviation | 32.8 bp |
| LRND (14 bp) Percentile rank | 16 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| LRND | 14.0 | 7.7 | 21.7 |
| Peer Avg. | 46.1 | 15.6 | 61.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .