It focuses on the U.S. market. It trades in U.S. dollars and is a core position for clients. It provides good exposure to a variety of sectors and has companies with excellent financials. It goes from the S&P 500 and screens to about 75 stocks.
It has 75 different stocks and some are down substantially. They are part of a growth story and the market has discounted growth. He will continue to hold.
He sold it during the April turmoil. This carries a lot of oil. He sold to buy megacaps. He still likes it, but be careful because this is in USD.