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Evolve Funds launches Canada’s first cloud computing ETF

Evolve Funds has launched the first ETF in Canada to provide pure-play exposure to companies operating in the cloud computing space.
The post Evolve Funds launches Canada’s first cloud computing ETF first appeared on ETF Strategy.

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Evolve Funds has launched the first ETF in Canada to provide pure-play exposure to companies operating in the cloud computing space.

Raj Lala, President and CEO of Evolve ETFs

Raj Lala, President and CEO of Evolve Funds.

The Evolve Cloud Computing Index Fund has listed on the Toronto Stock Exchange in Canadian dollars and is available in CAD-hedged (DATA CN) and unhedged (DATA.B CN) share classes.

Raj Lala, President and CEO at Evolve Funds, said: “The pandemic has increased the need for cloud computing in the midst of work from home mandates, and 2020 rounded out what was already a vastly advancing decade for the sector.

“We all rely heavily on the cloud in both our personal and professional lives, and this demand is reflected in the growth we are seeing in the sector. The launch of DATA marks another Canadian ETF first for investors and helps round out an already impressive disruptive innovation suite from Evolve.”

Methodology

The fund is linked to the Solactive Global Cloud Computing Index which selects its constituents from an initial universe of developed market stocks with market capitalizations greater than $100 million and average daily trading values above $2m.

From this universe, companies that are classified according to the FactSet Revere Business Industry Classification System as operating within various known fields pertaining to cloud computing are eligible for selection. This includes companies active in areas such as systems development, hardware infrastructure, network software, communications services, and data storage.

The 50 largest eligible stocks are selected to form the final index. Constituents are weighted by market capitalization subject to a cap of 7.5% per security. Index rebalancing occurs on a quarterly basis.

As of 8 January 2021, nearly 80% of the index’s exposure was allocated to stocks from the US with the next largest country weights being Canada (7.0%), Germany (6.5%), and Israel (1.8%). Tech stocks account for almost three-quarters (72.5%) of the index weight, while a quarter (25.8%) is dedicated to the communications sector.

The index’s top ten holdings feature several household names including Alphabet (8.7%), Oracle (7.5%), Microsoft (7.4%), Amazon (7.0%), Shopify (6.4%), and salesforce.com (6.1%).

The fund comes with a management fee of 0.60%.

The post Evolve Funds launches Canada’s first cloud computing ETF first appeared on ETF Strategy.

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Science

Record Number Of New York Residents Changing Driver’s Licenses To Florida

Record Number Of New York Residents Changing Driver’s Licenses To Florida

An analysis of official data reveals that a record number of New…

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Record Number Of New York Residents Changing Driver's Licenses To Florida

An analysis of official data reveals that a record number of New York residents changed their driver's licenses to Florida last month.

According to the New York Post, a total of 5,838 New Yorkers made the switch in August - the second-highest number for a single month in recorded history - and which makes for a year-to-date figure of 41,885 New Yorkers who have abandoned their northern licenses after moving south - a pace which points to a new annual record.

"First it was the billionaires. Then it was the rich following behind them. Now you have the middle class," said Renowned fashion designer Alvin Valley, who moved his primary residence to Palm Beach during the pandemic, adding that the influx of residents has been 'staggering.'

Photo by Johnny Nunez/WireImage

"A lot of families just began to feel like New York was becoming unlivable," Valley continued. "Especially for younger couples with kids in their 30s and 40s. They don’t want to get on the subway. It’s a safety issue, it’s a schools issue."

A retired NYPD lieutenant who moved with his family to Jacksonville last year told The Post that New Yorkers still have a buffet of reasons to bid farewell.

John Macari blamed COVID-19 mandates, rising crime and unappealing schools for the continued departures.

He argued that vaccine mandates for public-sector employees left thousands of working-class New Yorkers disillusioned with city government and eyeing the exits.

“Couple that with the rise in crime and zero competence from our elected officials and a lot of people just don’t see a future in New York City for themselves,” Macari said.

The Brooklyn native, who runs a Jacksonville livery service staffed by retired NYPD cops and hosts a podcast featuring ex-officers, said he talks to friends every day who want out. -NY Post

Last month, New York Mayor Eric Adams tried to stem the flow - deploying digital billboards throughout Florida to try and convince ex-New Yorkers to return to the Big Apple.

Tyler Durden Wed, 09/28/2022 - 23:20

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Economics

DryEyeRhythm: A reliable, valid, and non-invasive app to assess dry eye disease

Dry eye disease (DED) is a condition characterized by an array of different symptoms, including dryness, ocular discomfort, fatigue, and visual disturbances….

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Dry eye disease (DED) is a condition characterized by an array of different symptoms, including dryness, ocular discomfort, fatigue, and visual disturbances. This condition has become increasingly common in recent years owing to an aging society, increased screen time, and a highly stressful social environment. There are about 1 billion people, worldwide, who have DED. Undiagnosed and untreated DED can lead to a variety of symptoms, including ocular fatigue, sensitivity to light, lower vision quality, and a lower quality of life. Given the widespread prevalence of the condition, this can further lead to reduced work productivity and economic loss.

Credit: Juntendo University

Dry eye disease (DED) is a condition characterized by an array of different symptoms, including dryness, ocular discomfort, fatigue, and visual disturbances. This condition has become increasingly common in recent years owing to an aging society, increased screen time, and a highly stressful social environment. There are about 1 billion people, worldwide, who have DED. Undiagnosed and untreated DED can lead to a variety of symptoms, including ocular fatigue, sensitivity to light, lower vision quality, and a lower quality of life. Given the widespread prevalence of the condition, this can further lead to reduced work productivity and economic loss.

 

Despite the obvious disadvantages of DED, a large portion of the population remains undiagnosed, which ultimately leads to increased disease severity. DED is currently diagnosed through a series of questionnaires and ocular examinations (which can be invasive). But this method of diagnosis is not ideal. DED examinations do not always correspond with  patients’ subjective DED symptoms. Furthermore, non-invasive and non-contact dry eye examinations are required in the COVID-19 pandemic. These flaws point to a need for a simple, reliable, and accessible screening method for DED to improve diagnosis and prognosis of the disease.

 

To answer this need, a research group, led by Professor Akira Murakami and Associate Professor Takenori Inomata of the Juntendo University Graduate School of Medicine, developed a smartphone application called DryEyeRhythm. “DryEyeRhythm leverages the cameras in smartphones to measure users’ blink characteristics and determine maximum blink interval (MBI)—a substitute for tear film breakup time, an important diagnostic criterion of DED,” explains Associate Prof. Inomata. “The app also administers Ocular Surface Disease Index (OSDI) questionnaires, which are also a crucial component of DED diagnosis.

 

To validate the usefulness of the app, the research team conducted a prospective, cross-sectional, observational, single-center study, the results of which have been published in

The Ocular Surface (available online on 25 April 2022 and published in volume 25 in July 2022).

 

For their study, the team recruited 82 patients, aged 20 years or older, who visited the ophthalmology outpatient clinic at the Juntendo University Hospital between July 2020 and May 2021. The participants completed the Japanese version of the OSDI questionnaire (J-OSDI) and underwent examinations for MBI, both via the app and via other analysis techniques.

 

The study revealed that the J-OSDI collected with DryEyeRhythm showed good internal consistency. Moreover, the app-based questionnaire and MBI yielded significantly higher discriminant validity. The app also showed good positive and negative predictive values, with 91.3% and 69.1%, respectively. The area under the Receiver operating characteristic (ROC) curve—a measure of clinical sensitivity and specificity—for the concurrent use of the app-based J-OSDI and MBI was also high, with a value of 0.910. These results demonstrate that the app is a reliable, valid, and moreover non-invasive, instrument for assessing DED.

 

Non-contact and non-invasive DED diagnostic assistance, like the kind provided by DryEyeRhythm, could help facilitate the early diagnosis and treatment of patients, as well as, DED treatment through telemedicine and online medical care,” says Associate Prof. Inomata. The research team plans to further validate its results by conducting a multi-institutional collaborative study in the future. They are also planning to obtain medical device approval and insurance reimbursement for the smartphone application.

 

The development of DryEyeRhythm is crucial step forward toward the management of DED and improving vision and quality of life among the population.


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Spread & Containment

A rapid, highly sensitive method to measure SARS-CoV-2 in wastewater

Wastewater-based epidemiology (WBE) has been shown to be an excellent means of understanding the spread of SARS-CoV-2 in communities. It is now used in…

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Wastewater-based epidemiology (WBE) has been shown to be an excellent means of understanding the spread of SARS-CoV-2 in communities. It is now used in multiple areas across the world to track the prevalence of the virus, serving as a proxy for determining the status of COVID-19. Of particular importance is that WBE can be used to estimate the prevalence of COVID-19, including asymptomatic cases. However, one of the major drawbacks of WBE for SARS-CoV-2 has been that the traditional method was not very sensitive, and low viral loads could not be reliably detected.

Credit: Hiroki Ando, et al. Science of the Total Environment. August 8, 2022

Wastewater-based epidemiology (WBE) has been shown to be an excellent means of understanding the spread of SARS-CoV-2 in communities. It is now used in multiple areas across the world to track the prevalence of the virus, serving as a proxy for determining the status of COVID-19. Of particular importance is that WBE can be used to estimate the prevalence of COVID-19, including asymptomatic cases. However, one of the major drawbacks of WBE for SARS-CoV-2 has been that the traditional method was not very sensitive, and low viral loads could not be reliably detected.

A team of scientists from Hokkaido University and Shionogi & Co, Ltd., have developed a simple, rapid, highly sensitive method for the detection of SARS-CoV-2 in wastewater. The method, EPISENS-S, which does not require specialised equipment, was described in the journal Science of the Total Environment.

During the COVID-19 pandemic, Japan has had the lowest number of cases per capita. Thus, the viral loads in sewage have also been lower, and much more difficult to evaluate using established WBE methods—due to their low sensitivity. Prior work by the research team showed that the SARS-CoV-2 virus was associated with solids in sewage, so they focused on developing a method to analyse the solid phase of wastewater.

The method they developed, EPISENS-S, involves centrifuging collected wastewater samples to separate all the solids in the samples. The solids were then treated with a commercially available kit to extract all the RNA; the RNA was then reverse transcribed and amplified to obtain a substantial amount of DNA copies. A separate set of samples was subjected to treatment with polyethylene glycol followed by RNA extraction and reverse transcription to synthesize DNA: the method that is currently widely implemented in Japan. The DNA obtained from each of these methods was subjected to quantitative PCR (qPCR).

The team found that the EPISENS-S method is approximately 100 times more sensitive than the polyethylene glycol method. They used EPISENS-S to conduct a long-term analysis of wastewater from two sewage treatment plants in Sapporo city, and found that there was a high correlation between changes in RNA concentrations in the collected samples and changes in the number of reported cases in the city. EPISENS-S can also detect and quantify the Pepper mild mottle virus (PMMoV), which is associated with fecal matter and is used as an internal control.

EPISENS-S provides a way to track COVID-19 cases that are asymptomatic, as well as those that have not been clinically confirmed. In addition, it has great potential to continue tracking the prevalence of SARS-CoV-2 as vaccination rates increase. Finally, EPISENS-S could also be adapted to track other viral diseases with low infection numbers and viral loads.


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