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Investment Objective/Strategy - The First Trust Dorsey Wright People's Portfolio ETF is an exchange-traded fund which seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Nasdaq Dorsey Wright People's Portfolio Index.
There can be no assurance that the Fund's investment objectives will be achieved.
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The Nasdaq Dorsey Wright People's Portfolio Index is designed to provide exposure to either the U.S. equity market or T-bills, based upon daily relative strength readings resulting from a Nasdaq Dorsey Wright wholly-quantitative process.
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The index always holds exactly one of the three possible positions:
- All the component securities in the Nasdaq US 500 Large Cap Index (the Cap Weight Index),
- All the component securities in the Nasdaq US 500 Large Cap Equal Weight Index (the Equal Weight Index) or
- All the component securities in the Nasdaq US T-bill Index (the T-Bill Index).
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To construct the index, the closing price of the cap-weighted Nasdaq US 500 Large Cap Index is compared to the closing price of the Nasdaq US 500 Equal Weight Index, using point and figure charts.^
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The equity index which exhibits the best point and figure relative strength is then compared to a cash-like proxy based on the 13-week T-bill, and the position with stronger relative strength is then included in the index.
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The point and figure relative strength analysis between these indexes and T-bills is conducted daily. This may result in a high portfolio turnover rate.
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The equity indexes and T-bill index rebalance on a semi-annual and weekly basis, respectively. The fund rebalances when the index in which it is currently invested rebalances.
^Point and figure charts plot supply and demand within a security by focusing on its price movements and ignore small price fluctuations, trading volume and time to filter out insignificant price movements.
Ticker | DWPP |
Fund Type | Tactical Equity |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon |
CUSIP | 33733E880 |
ISIN | US33733E8802 |
Intraday NAV | DWPPIV |
Fiscal Year-End | 12/31 |
Exchange | Nasdaq |
Inception | 8/29/2012 |
Inception Price | $19.89 |
Inception NAV | $19.89 |
Rebalance Frequency | Periodically |
Gross Expense Ratio* | 0.61% |
Net Expense Ratio* | 0.60% |
* As of 11/5/2020
First Trust has contractually agreed to reimburse acquired fund fees and expenses of the shares of investment companies held by the fund, provided that the investment companies are advised by the fund’s investment advisor. The agreement will remain in place until at least November 5, 2021, or until its termination at the direction of the Trust's Board of Trustees. Please see the Fees and Expenses of the Fund section in the fund's prospectus for more details.
Closing NAV1 | $29.19 |
Closing Market Price2 | $29.18 |
Bid/Ask Midpoint | $29.18 |
Bid/Ask Discount | 0.05% |
30-Day Median Bid/Ask Spread3 | 0.52% |
Total Net Assets | $11,674,338 |
Outstanding Shares | 400,002 |
Daily Volume | 35 |
Average 30-Day Daily Volume | 1,254 |
Closing Market Price 52-Week High/Low | $34.92 / $21.80 |
Closing NAV 52-Week High/Low | $34.91 / $21.71 |
Number of Holdings (excluding cash) | 497 |
Holding |
Percent |
Apple Inc. |
6.91% |
Microsoft Corporation |
5.37% |
Amazon.com, Inc. |
4.50% |
Facebook, Inc. (Class A) |
1.97% |
Tesla, Inc. |
1.95% |
Alphabet Inc. (Class A) |
1.79% |
Johnson & Johnson |
1.34% |
JPMorgan Chase & Co. |
1.30% |
Visa Inc. (Class A) |
1.10% |
The Procter & Gamble Company |
1.03% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
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2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Days Traded at Premium |
78 |
1 |
--- |
--- |
Days Traded at Discount |
175 |
12 |
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Information Technology
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29.82%
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Health Care
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14.03%
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Consumer Discretionary
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12.93%
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Financials
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10.13%
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Communication Services
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9.54%
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Industrials
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8.27%
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Consumer Staples
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6.21%
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Utilities
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2.51%
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Energy
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2.34%
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Real Estate
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2.33%
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Materials
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1.89%
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
DWPP |
18.22% |
-10.75 |
0.86 |
0.04 |
0.89 |
S&P 500 Index |
18.79% |
--- |
1.00 |
0.71 |
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.
Nasdaq US 500 Large Cap Index - The Index is a float modified market capitalization weighted index that contains the top 500 securities from the NASDAQ US Benchmark Index. 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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