CLOD seeks to emulate the performance of the Solactive Cloud Computing Index, representing companies in cloud computing across developed markets. The index starts from a universe of small-, mid-, and large-cap companies that may be classified within defined sub-industries of the cloud computing industry. Security selection is based on the free float market capitalization of all eligible securities with firms ranking at the top of each sub-industry chosen. Twenty companies from internet infrastructure software and data support software, 10 each from digital security software, data infrastructure software, and data architecture software industries, and 3 from e-commerce infrastructure software are considered where the top 50 securities by market-cap are selected for the index. Constituents are also weighted according to their free float market capitalization with a 4.5% cap placed on individual securities. This is to ensure diversification and to limit overconcentration. CLOD is rebalanced quarterly.