NYLI International Small-Mid Cap Equity ETF

NYLI International Small-Mid Cap Equity ETF is an actively managed exchange-traded fund focused on equities of small- and mid-capitalization companies located outside the United States. The fund primarily invests in a diversified portfolio of non-U.S. stocks, including common and preferred shares, convertible securities, and depositary receipts. It may also allocate to real estate investment trusts and selectively participate in initial public offerings. Managed by New York Life Investment Management with Ausbil Investment Management Limited as subadvisor, the strategy integrates macroeconomic analysis with regional and sector positioning, complemented by bottom-up company research and risk-aware portfolio construction. The ETF typically emphasizes companies domiciled in developed international markets such as Europe and Japan, and uses the MSCI World ex-USA SMID Cap Index as a reference range for defining small- and mid-cap issuers. NYLI International Small-Mid Cap Equity ETF plays a role in providing targeted exposure to international smaller-company segments, offering diversification relative to U.S. and large-cap international equity allocations within multi-asset portfolios.