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Investment Objective/Strategy - The First Trust Dorsey Wright Momentum & Low Volatility ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Dorsey Wright Momentum Plus Low Volatility Index (the "Index"). Under normal conditions, the Fund will invest at least 90% of its net assets (including investment borrowings) in the equity securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Fund's investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Fund's performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Index is owned and was developed by Nasdaq, Inc. (the "Index Provider").
There can be no assurance that the Fund's investment objectives will be achieved.
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The Dorsey Wright Momentum Plus Low Volatility Index is a
rules-based equity index that is designed to track the overall
performance of 50 stocks within the NASDAQ US Large Mid Cap
Index that exhibit the lowest levels of volatility while
maintaining high levels of relative strength.
- To construct the index, Dorsey, Wright & Associates (DWA)
begins with the eligible constituents of the NASDAQ US Large Mid Cap Index.
- These eligible constituents are determined after meeting certain
criteria, including maintaining a minimum average daily dollar volume
of $1 million for the 30-day period prior to evaluation.
- Each security is assigned a relative strength score based on its forward price momentum compared to the momentum of a broad market benchmark index. Securities that exhibit a minimum level of relative strength are eligible for inclusion in the index.
- Eligible securities are then assigned a volatility score based on their daily percentage price changes over the trailing year. The top 50 securities with the lowest volatility scores are selected for inclusion in the index.
- The securities are then weighted using the inverse of each
security's one-year trailing volatility, with greater weights
given to securities with lower volatility scores.
- The index is reconstituted and rebalanced quarterly.
Ticker | DVOL |
Fund Type | Large Blend |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Brown Brothers Harriman |
CUSIP | 33741L108 |
ISIN | US33741L1089 |
Intraday NAV | DVOLIV |
Fiscal Year-End | 09/30 |
Exchange | Nasdaq |
Inception | 9/5/2018 |
Inception Price | $19.97 |
Inception NAV | $19.97 |
Rebalance Frequency | Quarterly |
Expense Ratio | 0.60% |
Closing NAV1 | $24.86 |
Closing Market Price2 | $24.88 |
Bid/Ask Midpoint | $24.87 |
Bid/Ask Premium | 0.02% |
30-Day Median Bid/Ask Spread3 | 0.12% |
Total Net Assets | $124,315,288 |
Outstanding Shares | 5,000,002 |
Daily Volume | 2,163 |
Average 30-Day Daily Volume | 28,169 |
Closing Market Price 52-Week High/Low | $25.15 / $15.08 |
Closing NAV 52-Week High/Low | $25.15 / $14.99 |
Number of Holdings (excluding cash) | 50 |
Holding |
Percent |
Dollar General Corporation |
2.96% |
Charter Communications, Inc. |
2.92% |
Morningstar, Inc. |
2.85% |
Danaher Corporation |
2.84% |
Alphabet Inc. (Class A) |
2.80% |
Thermo Fisher Scientific Inc. |
2.76% |
Agilent Technologies, Inc. |
2.75% |
Tyler Technologies, Inc. |
2.75% |
Garmin Ltd. |
2.74% |
Liberty Broadband Corporation (Class A) |
2.74% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
Maximum Market Cap. | $1,634,168 |
Median Market Cap. | $35,055 |
Minimum Market Cap. | $3,987 |
Price/Earnings | 33.67 |
Price/Book | 5.86 |
Price/Cash Flow | 23.14 |
Price/Sales | 4.35 |
|
2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Days Traded at Premium |
166 |
10 |
--- |
--- |
Days Traded at Discount |
87 |
3 |
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Health Care
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26.06%
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Industrials
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21.26%
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Communication Services
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12.65%
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Consumer Discretionary
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12.30%
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Information Technology
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9.10%
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Financials
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8.31%
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Consumer Staples
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5.91%
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Materials
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3.00%
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Real Estate
|
1.41%
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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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