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Investment Objective/Strategy - The First Trust Dorsey Wright Momentum & Value ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Dorsey Wright Momentum Plus Value Index (the "Index"). Under normal conditions, the Fund will invest at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Fund's investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Fund's performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Index is owned and was developed by Nasdaq, Inc. (the "Index Provider").
There can be no assurance that the Fund's investment objectives will be achieved.
- The Dorsey Wright Momentum Plus Value Index is a rules-based equity
index that is designed to track the overall performance of the 50 most
undervalued stocks within the NASDAQ US Large Mid Cap Index that maintain
high levels of relative strength.
- To construct the index, Dorsey, Wright & Associates (DWA) begins
with the eligible constituents of the NASDAQ US Large Mid Cap Index.
- These eligible constituents are determined after meeting certain
criteria, including maintaining a minimum average daily dollar volume
of $1 million for the 30-day period prior to evaluation.
- Each security is assigned a relative strength score based on its
forward price momentum compared to the momentum of a broad market
benchmark index. Securities that exhibit a minimum level of relative
strength are eligible for inclusion in the index.
- Eligible securities are individually ranked on four "value" metrics:
- Price-to-Sales Ratio
- Price-to-Book Ratio
- Price-to-Earnings Ratio
- Price-to-Cash Flow Ratio
- Each security is assigned a percentile rank for each of the four metrics
listed above, and a cumulative value score is then calculated for each security
by averaging the percentile scores for each of the value metrics.
- The securities are then ranked based upon their value scores, and the top 50 securities
with the highest value scores are selected for inclusion in the index.
- The securities are then weighted, with greater weights given to securities with higher value scores.
- The index is reconstituted and rebalanced quarterly.
Ticker | DVLU |
Fund Type | Large Value |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Brown Brothers Harriman |
CUSIP | 33741L207 |
ISIN | US33741L2079 |
Intraday NAV | DVLUIV |
Fiscal Year-End | 09/30 |
Exchange | Nasdaq |
Inception | 9/5/2018 |
Inception Price | $19.98 |
Inception NAV | $19.98 |
Rebalance Frequency | Quarterly |
Expense Ratio | 0.60% |
Closing NAV1 | $23.17 |
Closing Market Price2 | $23.17 |
Bid/Ask Midpoint | $23.17 |
Bid/Ask Premium | 0.00% |
30-Day Median Bid/Ask Spread (as of 4/15/2021)3 | 0.18% |
Total Net Assets | $34,756,953 |
Outstanding Shares | 1,500,002 |
Daily Volume | 2,205 |
Average 30-Day Daily Volume | 17,363 |
Closing Market Price 52-Week High/Low | $24.00 / $12.20 |
Closing NAV 52-Week High/Low | $23.20 / $12.19 |
Number of Holdings (excluding cash) | 50 |
Holding |
Percent |
Unum Group |
3.03% |
Prudential Financial, Inc. |
2.96% |
Bunge Limited |
2.87% |
Lincoln National Corporation |
2.86% |
Santander Consumer USA Holdings Inc. |
2.85% |
Nexstar Media Group, Inc. |
2.80% |
Equitable Holdings, Inc. |
2.75% |
Principal Financial Group, Inc. |
2.75% |
American International Group, Inc. |
2.73% |
Toll Brothers, Inc. |
2.73% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
Maximum Market Cap. | $471,397 |
Median Market Cap. | $13,675 |
Minimum Market Cap. | $5,151 |
Price/Earnings | 15.97 |
Price/Book | 1.63 |
Price/Cash Flow | 10.33 |
Price/Sales | 1.20 |
|
2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Days Traded at Premium |
168 |
49 |
9 |
--- |
Days Traded at Discount |
85 |
12 |
2 |
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Financials
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44.87%
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Consumer Discretionary
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30.88%
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Materials
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7.11%
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Industrials
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4.62%
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Consumer Staples
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2.88%
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Communication Services
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2.81%
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Information Technology
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2.69%
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Energy
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2.66%
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Real Estate
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1.48%
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S&P 500 Index - The Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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