FNCL

FNCL is a passive U.S. Financials sector ETF designed to track the MSCI USA IMI Financials 25/50 Index, aiming to represent nearly the entire publicly traded U.S. financial sector across large, mid, and small caps.

It uses market-cap weighting with built-in concentration limits (the “25/50” caps) to keep any single company or tightly linked group from dominating the portfolio.

The fund may use representative sampling, meaning it can hold a subset of index stocks that collectively behaves like the index.