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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.
Index Description According to the Index Provider
  • 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. <