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First Trust Cloud Computing ETF (SKYY)
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.
Index Description According to the Index Provider
  • The Index is a modified theme strength-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.
    • The security’s issuer must not be identified by the U.S. Securities and Exchange Commission as having used to audit its financial statements an accounting firm that has been identified by the Public Company Accounting Oversight Board (PCAOB) under the Holding Foreign Companies Accountable Act (HFCAA).
  • 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 theme strength-weighted methodology using 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%.
    • No Index security weight may be lower than 0.25%
  • The number of securities in the index is limited to 80 securities.
  • The index is reconstituted and rebalanced quarterly.
Fund Overview
Fund TypeTechnology
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End09/30
Inception Price$20.16
Inception NAV$20.16
Rebalance FrequencyQuarterly
Expense Ratio*0.60%
* As of 2/1/2024
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's Statement of Additional Information for full details.
Current Fund Data (as of 7/22/2024)
Closing NAV1$94.49
Closing Market Price2$94.46
Bid/Ask Midpoint$94.49
Bid/Ask Discount0.01%
30-Day Median Bid/Ask Spread30.05%
Total Net Assets$2,914,936,564
Outstanding Shares30,850,002
Daily Volume92,504
Average 30-Day Daily Volume123,079
Closing Market Price 52-Week High/Low$97.55 / $70.93
Closing NAV 52-Week High/Low$97.56 / $70.92
Number of Holdings (excluding cash)62
Top Holdings (as of 7/22/2024)*
Holding Percent
Oracle Corporation 4.54%
Arista Networks, Inc. 4.36%
International Business Machines Corporation 4.19%
Microsoft Corporation 4.05%
Alphabet Inc. (Class A) 4.00%
Amazon.com, Inc. 3.93%
Pure Storage, Inc. (Class A) 3.85%
Nutanix, Inc. (Class A) 3.39%
MongoDB, Inc. 3.38%
Cloudflare, Inc. (Class A) 2.94%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Fund Characteristics (as of 6/28/2024)4
Maximum Market Cap.$3,321,869
Median Market Cap.$16,306
Minimum Market Cap.$1,007
Price/Cash Flow25.14
Bid/Ask Premium/Discount (as of 7/22/2024)
  2023 Q1 2024 Q2 2024 Q3 2024
Days Traded at Premium 135 31 28 3
Days Traded at Discount 115 30 35 12
Top Sector Exposure (as of 7/22/2024)
Software 50.02%
IT Services 21.05%
Technology Hardware, Storage & Peripherals 9.83%
Communications Equipment 6.91%
Interactive Media & Services 4.00%
Broadline Retail 3.93%
Professional Services 1.34%
Diversified Telecommunication Services 0.84%
Financial Services 0.72%
Health Care Technology 0.68%
Hypothetical Growth of $10,000 Since Inception (as of 7/22/2024) *