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| Investment Objective/Strategy -
The First Trust NASDAQ-100 Ex-Technology Sector IndexSM Fund is an exchange-traded index fund. The objective of the Fund is to seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the NASDAQ-100 Ex-Tech Sector IndexSM. |
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| There can be no assurance that the Fund's investment objectives will be achieved. |
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- The index consists of companies in the NASDAQ-100 Index not classified as Technology according to Industry Classification Benchmark (ICB).
- The NASDAQ-100 Index® includes 100 of the largest domestic and international non-financial companies listed on NASDAQ® based on market capitalization.
- The index is reconstituted once a year based on the NASDAQ-100 reconstitution in December, but replacements may be made during the year if there's a replacement in the NASDAQ-100 Index.
- The index is equally-weighted and is rebalanced four times annually in March, June, September and December.
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Fund Overview
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| Ticker |
QQXT |
| Fund Type |
Growth |
| Investment Advisor |
First Trust Advisors L.P. |
| Investor Servicing Agent |
Bank of New York |
| CUSIP |
33733E401 |
| Intraday NAV |
QQXTI |
| Fiscal Year-End |
12/31 |
| Exchange |
NASDAQ Stock Market |
| Inception |
2/8/2007 |
| Inception Price |
$20.00 |
| Inception NAV |
$20.00 |
Gross Expense Ratio
(6/30/2009) |
1.46% |
| Net Expense Ratio |
0.60% |
| Rebalance Frequency |
QUARTERLY |
| Marginable |
Yes |
| Options |
No |
| Short Sell |
Yes |
Pursuant to contract, First Trust has agreed to waive fees and/or pay fund expenses to prevent the net expense ratio of the fund from exceeding 0.60% per year, at least until May 15, 2010.
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| Bid/Ask Midpoint and NAV History (Since Inception) |
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Past performance is not indicative of future results.
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Current Fund Data (as of 2/8/2010)
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| Closing Share Price |
$16.95 |
| Bid/Ask Midpoint |
$16.90 |
| Closing NAV |
$16.91 |
| Bid/Ask Discount |
0.05% |
| Total Net Assets |
$11,836,325 |
| Common Shares Outstanding |
700,002 |
| Dividend Frequency |
Semi-Annual |
| Dividend per Share Amt1 |
$0.0523 |
| Daily Volume |
3,650 |
| Average 30-Day Daily Volume |
9,424 |
| Closing Share Price 52-Week High/Low |
$18.34 / $9.81 |
| Closing NAV 52-Week High/Low |
$18.30 / $9.84 |
| Number of Stocks |
63 |
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| Basic Materials |
1.50% |
| Consumer Goods |
6.59% |
| Consumer Services |
30.30% |
| Health Care |
32.47% |
| Industrials |
21.34% |
| Oil & Gas |
1.35% |
| Other |
0.28% |
| Telecommunications |
6.17% |
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| Top 10 Holdings (as of 2/8/2010) |
| Holdings |
Percent (%) |
| Illumina, Inc. |
2.11 |
| Sears Holdings Corporation |
1.95 |
| Hologic, Inc. |
1.94 |
| Genzyme Corporation (General Division) |
1.85 |
| Intuitive Surgical, Inc. |
1.85 |
| Cephalon, Inc. |
1.82 |
| Gilead Sciences, Inc. |
1.78 |
| Teva Pharmaceutical Industries Ltd. (ADR) |
1.78 |
| Patterson Companies, Inc. |
1.75 |
| Biogen Idec Inc. |
1.74 |
| Fund Characteristics (as of 1/29/2010) 3 |
| Median Market Cap. |
$7,424 |
| Maximum Market Cap. |
$112,630 |
| Minimum Market Cap. |
$3,499 |
| Price/Earnings |
19.54 |
| Price/Book |
2.65 |
| Price/Cash Flow |
10.46 |
| Price/Sales |
1.36 |
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| Number of Days Bid/Ask Midpoint Above NAV |
| Quarter Ended |
0-49
Basis Points |
50-99
Basis Points |
100-199
Basis Points |
>=200
Basis Points |
| 12/31/2009 |
38 |
0 |
0 |
0 |
| 9/30/2009 |
42 |
0 |
0 |
0 |
| 6/30/2009 |
27 |
1 |
3 |
0 |
| 3/31/2009 |
30 |
0 |
0 |
1 |
| Number of Days Bid/Ask Midpoint Below NAV |
| Quarter Ended |
0-49
Basis Points |
50-99
Basis Points |
100-199
Basis Points |
>=200
Basis Points |
| 12/31/2009 |
26 |
0 |
0 |
0 |
| 9/30/2009 |
22 |
0 |
0 |
0 |
| 6/30/2009 |
31 |
1 |
0 |
0 |
| 3/31/2009 |
30 |
0 |
0 |
0 |
The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated.
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| Month End Performance (as of 1/29/2010) |
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3 Mos |
YTD |
1 Year |
3 Year |
5 Year |
10 Year |
Since
Fund
Inception2 |
| Fund Performance * |
| NAV |
6.58% |
-2.78% |
50.40% |
N/A |
N/A |
N/A |
-4.93% |
| After Tax Held |
6.47% |
-2.78% |
50.25% |
N/A |
N/A |
N/A |
-4.97% |
| After Tax Sold |
4.28% |
-1.81% |
32.76% |
N/A |
N/A |
N/A |
-4.18% |
| Market Price |
6.71% |
-2.72% |
50.27% |
N/A |
N/A |
N/A |
-4.93% |
| Index Performance ** |
| NASDAQ-100 Ex-Tech Sector Index(SM) |
6.77% |
-2.74% |
51.24% |
-3.82% |
N/A |
N/A |
-4.34% |
| Russell 1000® Index |
4.57% |
-3.60% |
34.81% |
-7.10% |
N/A |
N/A |
-7.44% |
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| Quarter End Performance (as of 12/31/2009) |
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3 Mos |
YTD |
1 Year |
3 Year |
5 Year |
10 Year |
Since
Fund
Inception2 |
| Fund Performance * |
| NAV |
2.92% |
46.74% |
46.74% |
N/A |
N/A |
N/A |
-4.14% |
| After Tax Held |
2.82% |
46.59% |
46.59% |
N/A |
N/A |
N/A |
-4.19% |
| After Tax Sold |
1.90% |
30.38% |
30.38% |
N/A |
N/A |
N/A |
-3.52% |
| Market Price |
2.87% |
47.76% |
47.76% |
N/A |
N/A |
N/A |
-4.16% |
| Index Performance ** |
| NASDAQ-100 Ex-Tech Sector Index(SM) |
3.07% |
47.64% |
47.64% |
-1.76% |
N/A |
N/A |
-3.54% |
| Russell 1000® Index |
6.07% |
28.43% |
28.43% |
-5.36% |
N/A |
N/A |
-6.46% |
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3-Year Statistics (as of 1/29/2010)
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
| NASDAQ-100 Ex-Tech Sector Index(SM) |
23.95% |
5.32 |
1.12 |
-0.19 |
0.95 |
| Russell 1000® Index |
20.38% |
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-0.43 |
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*Performance data quoted represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than their original cost. You can obtain performance information which is current through the most recent month-end by visiting ftportfolios.com.
After Tax Held Returns represent return after taxes on distributions. Assumes shares have not been sold. After Tax Sold Returns represent the return after taxes on distributions and the sale of fund shares. Returns do not represent the returns you would receive if you traded shares at other times. Market Price Returns are based on the midpoint of the bid/ask spread. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. The fund's performance reflects fee waivers and expense reimbursements, absent which performance would have been lower.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements.
The gross expense ratio for this fund is 1.46%.
Pursuant to contract, First Trust has agreed to waive fees and/or pay fund expenses to prevent the net expense ratio of the fund from exceeding 0.60% per year, at least until May 15, 2010.
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**Past performance is not a guarantee of future results. Performance information for the NASDAQ-100 Ex-Tech Sector IndexSM is for illustrative purposes only and does not represent actual fund performance. The index does not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the performance shown. Indexes are unmanaged and an investor cannot invest directly in an index. Index returns are calculated using price-return index data prior to August 31, 2006, and total-return data after August 31, 2006.
Standard Deviation — A measure of price variability (risk).
Alpha - An indication of how much an investment outperforms or underperforms on a risk-adjusted
basis relative to its benchmark.
Beta - A measure of price variability relative to the market.
Sharpe Ratio - A measure of excess reward per unit of volatility.
Correlation - A measure the similarity of performance.
The Russell 1000 Index offers investors access to the extensive large-cap segment of the U.S. equity universe representing approximately 92% of the U.S. market.
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| Footnotes
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| 1 |
Most recent distribution paid or declared through today's date. Subject to change in the future. |
| 2 |
Inception Date is 2/8/2007 |
| 3 |
All market capitalization numbers are in US$ Millions. |
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You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or contact First Trust Portfolios, L.P. at 1-800-621-1675 to request a prospectus, which contains this and other information about the fund. Read it carefully before you invest.
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Risk Considerations:
The fund's shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular stock owned by the fund, fund shares or stocks in general may fall in value.
The fund's return may not match the return of the index. The fund may not be fully invested at times. Securities held by the fund will generally not be bought or sold in response to market fluctuations. The fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.
Investors buying or selling fund shares on the secondary market may incur brokerage commissions. Investors who sell fund shares may receive less than the share' s net asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units.
This fund is concentrated in stocks in the health care sector which involves additional risks, including limited diversification. The companies engaged in the health care sector are subject to fierce competition, high research and development costs, governmental regulations, loss of patent protection, and changing consumer spending trends.
This fund is concentrated in stocks in the consumer products sector which involves additional risks, including limited diversification. The companies engaged in the consumer products sector are subject to certain risks, including global competition, changing government regulations and trade policies, currency fluctuations, and the financial and political risks inherent in producing products for foreign markets.
Nasdaq®, Nasdaq-100®, Nasdaq-100 Index®, and Nasdaq-100 Ex-Tech Sector IndexSM are trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by First Trust Advisors L.P. The Product has not been passed on by the Corporations as to their legality or suitability. The Product is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT.
The Fund is classified as "non-diversified." A non-diversified fund generally may invest a larger percentage of its assets in the securities of a smaller number of issuers. As a result, the Fund may be more susceptible to the risks associated with these particular companies, or to a single economic, political or regulatory occurrence affecting these companies.
Not FDIC Insured * Not Bank Guaranteed * May Lose Value
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