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Reorganization
December 14, 2020 – First Trust Advisors L.P. (“FTA”) announced that the reorganization of First Trust Value Line® 100 Exchange-Traded Fund (NYSE Arca: FVL), an index based exchange-traded fund (“ETF”), managed by FTA, into First Trust Value Line® Dividend Index Fund (NYSE Arca: FVD), an index based ETF managed by FTA, was completed prior to the open of the NYSE Arca on December 14, 2020. The assets of FVL were transferred to, and the liabilities of FVL were assumed by, FVD. The shareholders of FVL received shares of FVD with a value equal to the aggregate net asset value of the shares of FVL held by them. The exchange of shares took place based upon FVL’s and FVD’s closing net asset values on December 11, 2020. The exchange ratio at which shares of FVL were exchanged for shares of FVD is 0.662214. More information can be found here.
Investment Objective/Strategy - The First Trust Value Line® Dividend Index Fund is an exchange-traded index fund. The objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of the Value Line® Dividend Index.
There can be no assurance that the Fund's investment objectives will be achieved.
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The index begins with the universe of stocks that Value Line® gives a SafetyTM Ranking of #1 or #2 using the Value Line®
SafetyTM Ranking System. All registered investment companies, limited partnerships and foreign securities not listed in the U.S. are removed from this universe.
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From those stocks, Value Line® selects those companies with a higher than average dividend yield, as compared to the indicated dividend yield of the
Standard & Poor's 500 Composite Stock Price Index.
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Value Line® then eliminates those companies with an equity market capitalization of less than $1 billion.
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The index seeks to be equally weighted in each of the securities in the index. The index is rebalanced on the application of the above model on a monthly basis.
| Ticker | FVD |
| Fund Type | Equity Income |
| Investment Advisor | First Trust Advisors L.P. |
| Investor Servicing Agent | Bank of New York Mellon |
| CUSIP | 33734H106 |
| ISIN | US33734H1068 |
| Intraday NAV | FVDIV |
| Fiscal Year-End | 12/31 |
| Exchange | NYSE Arca |
| Inception | 8/19/2003 |
| Inception Price | $15.00 |
| Inception NAV | $14.32 |
| Rebalance Frequency | Monthly |
| Gross Expense Ratio* | 0.70% |
| Net Expense Ratio* | 0.70% |
* As of 5/3/2021
Expenses are capped contractually at 0.70% per year, at least until April 30, 2022.
| Closing NAV1 | $40.35 |
| Closing Market Price2 | $40.37 |
| Bid/Ask Midpoint | $40.35 |
| Bid/Ask Premium | 0.00% |
| 30-Day Median Bid/Ask Spread3 | 0.02% |
| Total Net Assets | $12,017,199,225 |
| Outstanding Shares | 297,790,884 |
| Daily Volume | 519,442 |
| Average 30-Day Daily Volume | 709,277 |
| Closing Market Price 52-Week High/Low | $40.72 / $30.71 |
| Closing NAV 52-Week High/Low | $40.73 / $30.73 |
| Number of Holdings (excluding cash) | 201 |
| Holding |
Percent |
| Dover Corporation |
0.55% |
| Oracle Corporation |
0.55% |
| Starbucks Corporation |
0.55% |
| Target Corporation |
0.55% |
| Eli Lilly and Company |
0.54% |
| Houlihan Lokey, Inc. |
0.54% |
| Mid-America Apartment Communities, Inc. |
0.54% |
| Morgan Stanley |
0.54% |
| Novo Nordisk A/S (ADR) |
0.54% |
| ABB Ltd (ADR) |
0.53% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
Among 1,141 funds in the Large Value category. This fund was rated 4 stars/1,141 funds (3 years), 3 stars/1,012 funds (5 years), 5 stars/740 funds (10 years) based on risk adjusted returns.
| Maximum Market Cap. | $552,758 |
| Median Market Cap. | $37,166 |
| Minimum Market Cap. | $2,027 |
| Price/Earnings | 21.27 |
| Price/Book | 2.82 |
| Price/Cash Flow | 13.84 |
| Price/Sales | 2.13 |
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2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
| Days Traded at Premium |
176 |
41 |
51 |
14 |
| Days Traded at Discount |
77 |
20 |
12 |
2 |
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Utilities
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18.72%
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Industrials
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17.16%
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Financials
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16.14%
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Health Care
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11.09%
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Consumer Staples
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10.84%
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Information Technology
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10.54%
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Materials
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4.32%
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Consumer Discretionary
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4.20%
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Real Estate
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3.60%
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Communication Services
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2.92%
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Energy
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0.47%
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