The UBS IQ Morningstar Australia Quality ETF is a rules-based, equal-weighted fund intended to offer exposure to quality companies that Morningstar determines have sustainable competitive advantages based on a proprietary methodology. The Fund replicates an index designed to target exposure to approximately 25-50 wide and narrow 'moat' stocks in the Morningstar Australia Index™ with the lowest ratios of current market price to fair value price determined under an independent research process by the Morningstar Equity Research team.