Filter. Pure-play royalty and streaming companies that hold rights to metal production without operating mines on their own account.

Weighting. Market-cap weighted with 35% single-issuer cap.

A registered sub-slot of TS-GMRI-MEQ that isolates pure-play royalty and streaming companies (no operating mines, no opex, no labour/permitting risk). Wheaton Precious Metals, Franco-Nevada, Royal Gold, Triple Flag, Osisko Gold Royalties — category market cap roughly USD 75-80 billion as of 17 June 2026. Royalty/streamer tokens are simultaneously eligible for MEQ; ROY publishes separately only if a dedicated royalty tokenization wave produces N≥3 constituents with low correlation (<0.7) to the broader MEQ basket.

Royalty/streaming companies have a distinct risk profile: revenue scales with metal price and producer output but without operating leverage. Beta to gold/silver is typically higher than for producers; downside is lower. Institutional asset allocators traditionally separate "miners" from "royalty". No pure-royalty conventional ETF exists — GOAU (US Global GO GOLD) is the closest, with ~30% royalty allocation. Slot is reserved for prior art; publication is conditional on demonstrated diversification vs MEQ.

Comparable in spirit to: GOAU (US Global GO GOLD and Precious Metal Miners ETF, partial); no pure-royalty ETF exists.

The index is recomputed daily at 00:00 UTC from CoinGecko closing-day market caps. Let MC_i,t be the circulating market capitalisation of constituent i on day t, and MC_i,0 its value on the base date (7 June 2026, base value 100).

Both cap-weighted and equal-weighted variants are rounded to 2 decimal places for display. New constituents are chained in at the next monthly review using a continuity multiplier so the historical series is not distorted. The full rules are fixed in the methodology document below.