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On June 24, 2019, the index which the First Trust Cloud Computing ETF (the "Fund") seeks to track changed its name from the "ISE Cloud Computing™ Index" to "ISE CTA Cloud Computing™ Index" (the "Index") and the Index changed its methodology. The methodology is described here.
Investment Objective/Strategy - The First Trust Cloud Computing ETF is an exchange-traded fund. The investment 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 ISE CTA Cloud Computing™ Index.
There can be no assurance that the Fund's investment objectives will be achieved.
- The index is a modified equal weighted index designed to track the performance of companies involved in the cloud computing industry. To be included in the index, a security must be classified as a Cloud Computing company by the Consumer Technology Association (CTA) and meet the following criteria:
- Minimum market capitalization of $500 million;
- Minimum free float of 20%;
- Minimum three-month average daily dollar trading volume (ADDTV) of $5 million.
- Each security is then classified according to the following three business categories:
- Infrastructure-as-a-Service (IaaS): Companies that deliver cloud computing infrastructure - servers, storage, and networks - as an on-demand service.
- Platform-as-a-Service (PaaS): Companies that deliver a platform for the creation of software in the form of virtualization, middleware, and/or operating systems, which is then delivered over the Internet.
- Software-as-a-Service (SaaS): Companies that deliver software applications over the Internet enabling other companies to conduct their operations using the application.
- The index employs a modified equal weighted methodology called the Cloud Score Weighting.
- At every index evaluation, each security has its Cloud Score calculated by receiving a score for each category (IaaS, PaaS, and SaaS), 1 if it is operating in that category and 0 if it is not. The maximum score that can be achieved is a 6 (3 for IaaS, 2 for Paas, 1 for Saas).
- Each company's total score is divided by the total sum of the scores in the universe to determine the weight of each security. Individual security weights are capped at 4.5%.
- The number of securities in the index is limited to 80 securities.
- The index is reconstituted and rebalanced quarterly.
Ticker | SKYY |
Fund Type | Technology |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon |
CUSIP | 33734X192 |
ISIN | US33734X1928 |
Intraday NAV | SKYYIV |
Fiscal Year-End | 09/30 |
Exchange | Nasdaq |
Inception | 7/5/2011 |
Inception Price | $20.16 |
Inception NAV | $20.16 |
Rebalance Frequency | Quarterly |
Expense Ratio | 0.60% |
Closing NAV1 | $98.97 |
Closing Market Price2 | $99.00 |
Bid/Ask Midpoint | $98.97 |
Bid/Ask Premium | 0.00% |
30-Day Median Bid/Ask Spread3 | 0.05% |
Total Net Assets | $6,136,058,587 |
Outstanding Shares | 62,000,002 |
Daily Volume | 427,993 |
Average 30-Day Daily Volume | 413,054 |
Closing Market Price 52-Week High/Low | $99.16 / $46.00 |
Closing NAV 52-Week High/Low | $99.14 / $46.15 |
Number of Holdings (excluding cash) | 64 |
Holding |
Percent |
Kingsoft Cloud Holdings - ADR |
3.98% |
MongoDB, Inc. |
3.86% |
Alphabet Inc. (Class A) |
3.77% |
Oracle Corporation |
3.72% |
Microsoft Corporation |
3.69% |
Amazon.com, Inc. |
3.66% |
Alibaba Group Holding Limited (ADR) |
3.47% |
Arista Networks, Inc. |
3.37% |
VMware, Inc. |
3.36% |
CenturyLink, Inc. |
3.10% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
Maximum Market Cap. | $1,681,606 |
Median Market Cap. | $17,642 |
Minimum Market Cap. | $965 |
Price/Book | 6.76 |
Price/Sales | 4.61 |
|
2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Days Traded at Premium |
176 |
9 |
--- |
--- |
Days Traded at Discount |
77 |
4 |
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Software
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53.43%
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IT Services
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18.95%
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Internet & Direct Marketing Retail
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7.13%
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Technology Hardware, Storage & Peripherals
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6.32%
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Communications Equipment
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5.82%
|
Interactive Media & Services
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3.77%
|
Diversified Telecommunication Services
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3.10%
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Health Care Technology
|
1.48%
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
SKYY |
21.79% |
11.96 |
1.03 |
1.18 |
0.88 |
S&P Composite 1500 Information Technology Index |
21.59% |
11.60 |
1.08 |
1.20 |
0.94 |
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.
S&P Composite 1500 Information Technology Index - The Index is a capitalization-weighted index of companies classified by GICS as information technology within the S&P Composite 1500 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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