Anglo-Russian issuer FinEx has launched a lower-unit-price share class of its US Information Technology ETF in a bid to make the fund accessible to a wider audience of investors.

The fund provides exposure to US large and mid-cap equities of firms operating in the information technology sector.

The FinEx USA Information Technology UCITS MiniShares ETF provides exposure to US equities of companies operating in the information technology sector by tracking the Solactive US Large & Mid Cap Technology Index using full physical replication.

The index includes technology companies, as defined by The Refinitiv Business Classification (TRBC), that fall within the highest 85% of the free-float market capitalization of the entire US-listed equity market.

Constituents are weighted by free-float market capitalization and rebalanced quarterly.

As of 20 November, the index contains 104 names with the largest being Apple (17.6%), Microsoft (13.8%), Alphabet (8.9%), Facebook (5.7%), and Visa (3.0%).

Trading on Moscow Exchange under the ticker FXIM RM, the new share class has listed with a per-share price of just $1.

In comparison, the original share class (FXIT RM) currently has a share price of around $122 due to the fund having gained over 300% in US dollar terms since its inception in October 2013.

Investors may trade the original share class in either US dollars or Russian rubles; however, the new share class is currently only available to trade in US dollars.

Both share classes of the ETF come with expense ratios of 0.90%.