DVQQ — WEBs QQQ Defined Volatility ETF ☆

WEBs QQQ Defined Volatility ETF follows an index based on the Invesco QQQ ETF that aims to hold annual volatility at 22%. Each day the index checks QQQ's 21-day volatility and shifts exposure between 0% and 200%: it adds exposure through total return swaps when volatility is lower than target, and cuts it with cash when higher. QQQ itself tracks the NASDAQ-100 Index of 100 of the largest non-financial Nasdaq companies.