Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow First Trust: 

Search by Ticker, Keyword or CUSIP       
First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW)
Investment Objective/Strategy - The First Trust NASDAQ-100 Equal Weighted Index Fund is an exchange-traded index fund. The investment objective of the Fund is to replicate as closely as possible, before fees and expenses, the price and yield of the NASDAQ-100 Equal Weighted IndexSM.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The index consists of companies in the NASDAQ-100 Index.
  • The index is reconstituted once a year in December, but replacements may be made during the year if there's a replacement in the NASDAQ-100 Index.
  • The index is an equal weighted index and is rebalanced four times annually in March, June, September and December.
  • The index contains the same securities as the NASDAQ-100 Index but each of the securities is initially set at a weight of 1.00% of the index and is rebalanced quarterly. The NASDAQ-100 Index includes 100 of the largest non-financial securities listed on Nasdaq.
  • The equal weighting allows for smaller company performance to contribute as much as the large companies within the Index.
Fund Overview
Fund TypeGrowth
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
Fiscal Year-End12/31
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.60%
Net Expense Ratio*0.60%
* As of 5/2/2016
Expenses are capped contractually at 0.60% per year, at least until April 30, 2017.
Current Fund Data (as of 5/23/2016)
Closing NAV1$41.19
Closing Share Price2$41.19
Bid/Ask Midpoint$41.19
Bid/Ask Discount0.00%
Total Net Assets$372,787,515
Outstanding Shares9,050,002
Daily Volume46,141
Average 30-Day Daily Volume45,093
Closing Share Price 52-Week High/Low$45.54 / $36.79
Closing NAV 52-Week High/Low$45.56 / $36.78
Number of Holdings109
Fund Characteristics (as of 4/29/2016)9
Maximum Market Cap.$513,454
Median Market Cap.$22,303
Minimum Market Cap.$5,680
Price/Cash Flow15.13
Top Holdings (as of 5/23/2016)
Holding Percent
NVIDIA Corporation 1.34%
Amazon.com, Inc. 1.28%
Incyte Corporation 1.26%
Activision Blizzard, Inc. 1.19%
Electronic Arts Inc. 1.16%
T-Mobile US, Inc. 1.15%
Applied Materials, Inc. 1.14%
Alexion Pharmaceuticals, Inc. 1.13%
NetEase, Inc. (ADR) 1.13%
Monster Beverage Corporation 1.11%

Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 4/30/2016)3

Among 1476 funds in the Large Growth category. This fund was rated 4 stars/1476 funds (3 years), 4 stars/1296 funds (5 years), 3 stars/922 funds (10 years).
Distribution Information
Dividend per Share Amt4$0.1478
30-Day SEC Yield (as of 4/29/2016)50.53%
Unsubsidized 30-Day SEC Yield (as of 4/29/2016)60.49%
12-Month Distribution Rate (as of 4/29/2016)70.87%
Index Yield (as of 4/29/2016)81.32%
Bid/Ask Midpoint vs. NAV (as of 3/31/2016)
Number of Days Bid/Ask Midpoint Above NAV
Quarter Ended 0-49
Basis Points
Basis Points
Basis Points
Basis Points
3/31/2016 10 0 0 0
12/31/2015 24 0 0 0
9/30/2015 26 0 0 0
6/30/2015 36 0 0 0
Number of Days Bid/Ask Midpoint Below NAV
Quarter Ended 0-49
Basis Points
Basis Points
Basis Points
Basis Points
3/31/2016 51 0 0 0
12/31/2015 39 1 0 0
9/30/2015 38 0 0 0
6/30/2015 27 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.

Top Sector Exposure (as of 5/23/2016)
Technology 35.14%
Consumer Services 29.63%
Health Care 15.31%
Industrials 8.64%
Consumer Goods 7.55%
Telecommunications 3.22%
Financials 0.48%
Month End Performance (as of 4/29/2016)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 3.71% -4.66% -5.71% 12.66% 10.49% 8.23% 8.04%
After Tax Held 3.56% -4.80% -6.05% 12.24% 10.12% 8.01% 7.83%
After Tax Sold 2.10% -2.63% -3.22% 9.70% 8.15% 6.61% 6.45%
Market Price 3.90% -4.68% -5.79% 12.65% 10.46% 8.22% 8.03%
Index Performance **
NASDAQ-100 Equal Weighted IndexSM 3.81% -4.53% -5.17% 13.32% 11.18% 8.90% 8.71%
NASDAQ-100 Index® 1.80% -5.12% -0.41% 16.06% 13.98% 10.85% 10.60%
S&P 500 Index 7.05% 1.74% 1.21% 11.26% 11.02% 6.91% 6.90%
Quarter End Performance (as of 3/31/2016)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) -2.51% -2.51% -2.70% 14.21% 11.81% N/A 8.35%
After Tax Held -2.66% -2.66% -3.06% 13.79% 11.44% N/A 8.14%
After Tax Sold -1.42% -1.42% -1.53% 10.94% 9.24% N/A 6.71%
Market Price -2.60% -2.60% -2.86% 14.17% 11.77% N/A 8.34%
Index Performance **
NASDAQ-100 Equal Weighted IndexSM -2.37% -2.37% -2.08% 14.91% 12.53% N/A 9.03%
NASDAQ-100 Index® -2.06% -2.06% 4.74% 18.26% 15.34% N/A 11.05%
S&P 500 Index 1.35% 1.35% 1.78% 11.82% 11.58% N/A 6.91%
3-Year Statistics (as of 4/29/2016)
  Standard Deviation Alpha Beta Sharpe Ratio Correlation
QQEW 13.94% 0.08 1.14 0.90 0.92
NASDAQ-100 Index® 13.99% 2.95 1.15 1.11 0.93
S&P 500 Index 11.35% --- 1.00 0.97 1.00
Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.

*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.

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. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

**Performance information for the NASDAQ-100 Equal Weighted IndexSM is for illustrative purposes only and does not represent actual fund performance.
Indexes do 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.
The gross expense ratio for this fund is 0.60%. Expenses are capped contractually at 0.60% per year, at least until April 30, 2017.

S&P 500 Index - The Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.

1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's outstanding shares .
2 Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
The Morningstar RatingTM is provided for those exchange-traded funds ("ETFs") with at least a three-year history. Ratings are based on the ETF's Morningstar Risk-Adjusted Return measure which accounts for variation in monthly performance, placing more emphasis on downward variations and rewarding consistent performance. An ETF's risk-adjusted return includes a brokerage commission estimate. This estimate is intended to reflect what an average investor would pay when buying or selling an ETF. PLEASE NOTE, this estimate is subject to change and the actual brokerage commission an investor pays may be higher or lower than this estimate. Morningstar compares each ETF's risk-adjusted return to the open-end mutual fund rating breakpoints for that category. Consistent with the open-end mutual fund ratings, the top 10% of ETFs in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The overall rating for an ETF is based on a weighted average of the time-period ratings (e.g., the ETF's 3,5, and 10 year rating). The determination of an ETF's rating does not affect the retail open end mutual fund data published by Morningstar. Past performance is no guarantee of future results.
4 Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.
5 The 30-day SEC yield is calculated by dividing the net investment income per share earned during the most recent 30-day period by the maximum offering price per share on the last day of the period and includes the effects of fee waivers and expense reimbursements, if applicable.
6 The unsubsidized 30-day SEC yield is calculated the same as the 30-day SEC yield, however it excludes contractual fee waivers and expense reimbursements.
7 12-Month Distribution Rate is calculated by dividing the sum of the fund's trailing 12-month ordinary distributions paid or declared by the NAV price. Distribution rates may vary.
8 Index yield represents the weighted average trailing 12-month dividend of the constituents of the NASDAQ-100 Equal Weighted Index(SM).
9 All market capitalization numbers are in USD$ Millions.
10 Inception Date is 4/19/2006

You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on The Nasdaq Stock Market LLC.

The fund's return may not match the return of the NASDAQ-100 Equal Weighted IndexSM.  Securities held by the fund will generally not be bought or sold in response to market fluctuations.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. Market prices may differ to some degree from the net asset value of the shares. 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, unlike mutual funds, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units.

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. There can be no assurance that the fund's investment objective will be achieved.

The fund may invest in securities issued by companies concentrated in a particular industry. The fund may invest in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

The fund invests in information technology companies, which are subject to certain risks, including rapidly changing technologies, short product life cycles, fierce competition, aggressive pricing and reduced profit margins, loss of patent, copyright and trademark protections, cyclical market patterns, evolving industry standards and frequent new product introductions. Certain companies may be smaller and less experienced companies, with limited product lines, markets or financial resources. Information technology company stocks, especially those which are Internet related, have experienced extreme price and volume fluctuations that are often unrelated to their operating performance.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P., the fund's distributor.

Nasdaq®, NASDAQ-100®, NASDAQ-100 Index®, and NASDAQ-100 Equal Weighted IndexSM are trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and are licensed for use by First Trust Advisors L.P. The fund has not been passed on by the Corporations as to its legality or suitability. The fund is not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE FUND.

©2016 Morningstar, Inc. All Rights Reserved. The Morningstar RatingTM information contained herein: (1) is proprietary to Morningstar;(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
Home |  Important Legal Information |  Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2016 All rights reserved.