The fund provides a solid representation of US mid-cap equities. The fund tracks a committee-selected index, weighted by market capitalization. Eligible securities are screened by market-cap, liquidity and industry group representation. The index usually undergoes quarterly rebalance and issuers are added and deleted to the index on an as-needed basis. XMC will try to replicate the performance of the index by investing in one or more iShares ETFs. The fund is also offered as USD units. Sibling fund XMH provides the same exposure but hedged back to CAD.