Drone Exchange-Traded Fund Soars to New Heights

The exchange-traded fund (ETF) PureFunds Drone Economy Strategy ETF (IFLY) focuses on the emerging commercial drone market.

IFLY invests in global equities related to the drone industry, including manufacturers and suppliers. Drone technology has risen to the forefront of public awareness in the last few years.

Although the first drone was built and used as early as 2002 by the CIA, the entire industry has been relatively unknown to the public. Even since the beginning of drone usage, they have largely been the stuff of science fiction. News coverage on drones predominantly has been on recreational use by consumers and enthusiasts.

As drone technology enters a cycle of ballooning growth, it is finding applications across many industries such as agriculture, construction and utilities for purposes that were nearly unimaginable 10 years ago. In the construction industry, for example, the current value of labor and services provided by drones is estimated to be $127.3 billion.

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