The fund is the first Canadian-listed ETF to provide access to the carbon allowances futures market. The fund tracks an index that provides exposure to cap-and-trade carbon allowances via futures. The index initially holds the European Union Allowances (EUA) futures and targets developed market carbon credit futures. But it can change its components based on its selection criteria, such as the average daily value traded and open interest value over the past three months. The index selects contracts maturing in December of the next one to two years. It weights its components based on the average daily value traded over the last three months, subject to limits. The index reconstitutes and rebalances its portfolio annually in November.