Innovator Capital Management on Thursday introduced the IBD ETF Leaders ETF (LDRS), its second exchange-traded fund based on the investment system of financial research and media company Investor’s Business Daily.

LDRS is an ETF of ETFs tracking the IBD Leaders ETF Index that uses relative strength analysis to pick the top U.S.-listed ETFs across various asset classes including domestic and international stocks, fixed income and alternative investments.

The fund’s sector breakdown comprises a 31 percent allocation each to U.S. equities and global equities, 23 percent to Chinese stocks, and the remaining 15 percent roughy split between Vietnamese and South Korean equities.

The top five holdings are a diverse mix of funds: the Global X China Consumer ETF (CHIQ), ARK Innovation ETF (ARKK), Guggenheim Solar ETF (TAN), SPDR S&P Homebuilders ETF (XHB) and SPDR S&P 500 ETF Trust (SPY). Their allocations range from 7.95 percent to 7.75 percent.

LDRS excludes ETFs with low trading volume and returns below the S&P 500 Index over the prior three months. ETFs are ranked according to IBD’s relative price strength methodology with the highest scoring ETFs included and equally weighted. The index will be reconstituted and rebalanced on the last trading day of each month.

Innovator is led by Bruce Bond and John Southard, co-founders of ETF provider PowerShares Capital Management, now known as Invesco PowerShares.

The duo earlier this year closed on the purchase of an existing firm that has an agreement with IBD to create ETFs based on that company’s investing strategies. The first such product, the Innovator IBD 50 ETF (FFTY), tracks an index built around IBD’s CAN SLIM methodology centered on companies with significant profit growth, large sales increases, hefty profit margins and high return on equity.

The product launched in April 2015, and has assets of nearly $280 million and a year-to-date return of almost 39 percent.

Innovator has filed for registration with the Securities and Exchange Commission for the Defined Outcome Series of four risk-managed ETFs designed to provide pre-set upside and downside return potential benchmarked to the S&P 500 Index. This so-called controlled exposure to the S&P 500 employs an options-based strategy built around a defined outcome period of a year.

The company is aiming to roll out those funds in early 2018.