Akros U.S. Heavy Assets Low Obsolescence (HALO) Index

The index is designed to identify U.S. large-cap companies whose core business models are resistant to AI-driven disruption. It targets companies that create economic value through ownership of tangible physical assets rather than software or IP (Physical Value Anchoring), possess competitive advantages built over decades that new entrants cannot quickly replicate (Generational Moat Durability), operate businesses whose core functions cannot be substituted by artificial intelligence (AI Displacement Immunity), and derive minimal revenue from asset-light business lines such as software platforms or IP licensing (Non-Physical Revenue Dilution). Constituents are selected from the top 3,000 NYSE and NASDAQ common stocks by market capitalisation (excluding Finance & Insurance), filtered for physical asset intensity (PP&E / Total Assets top 50%), and evaluated through the HALO scoring framework. A three-stage selection process applies sector-capped HALO ranking, value and quality screens (EV/EBITDA, OCF/Total Assets, Net Debt/EBITDA), and free-float market capitalisation ranking to arrive at 100 equally weighted constituents, rebalanced quarterly.