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First Trust Morningstar Dividend Leaders Index Fund (FDL)
Investment Objective/Strategy - The First Trust Morningstar Dividend Leaders 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 Morningstar® Dividend Leaders IndexSM.
There can be no assurance that the Fund's investment objectives will be achieved.
Index Description According to the Index Provider
  • Securities selected for the Morningstar® Dividend Leaders Index℠ are determined by a proprietary screening model developed by Morningstar. These securities have historically maintained consistent and sustainable dividend policies.
  • The selection universe for this index is based on the Morningstar® US Market Index℠. Securities issuing dividend payments that do not constitute qualifying income (e.g., real estate investment trusts) are excluded.
  • Based on forward looking earnings estimates and indicated dividends, stocks are eliminated from consideration if:
    • The five-year indicated dividend per share growth is less than zero.
    • One year estimated earnings per share divided by its indicated dividend per share is less than or equal to one.
  • Remaining stocks are ranked by indicated dividend yield. The top 100 are selected for inclusion in the index.
  • Index constituents are weighted based upon the dollar value of indicated dividend payments. Weightings are adjusted so that no individual security has greater than 10% weight, and securities with greater than 5% weight do not collectively exceed 50% of the index.
  • The index is rebalanced quarterly and reconstituted annually.
Fund Overview
Fund TypeEquity Income
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End