First Trust Launches Seven ETFs Based on Nasdaq US Smart Sector IndexesSM
BUSINESS WIRE – WHEATON, Ill. – First Trust Advisors L.P. (“First Trust”), a leading exchange-traded fund (“ETF”) provider and asset manager, has launched seven new ETFs based on the Nasdaq US Smart Sector IndexesSM. The indexes, which are created and administered by Nasdaq, Inc. (“Nasdaq”), are modified factor-weighted indexes designed to provide exposure to US economic sectors. The seven funds are listed below:
First Trust Nasdaq Bank ETF (Nasdaq: FTXO)
First Trust Nasdaq Food & Beverage ETF (Nasdaq: FTXG)
First Trust Nasdaq Oil & Gas ETF (Nasdaq: FTXN)
First Trust Nasdaq Pharmaceuticals ETF (Nasdaq: FTXH)
First Trust Nasdaq Retail ETF (Nasdaq: FTXD)
First Trust Nasdaq Semiconductor ETF (Nasdaq: FTXL)
First Trust Nasdaq Transportation ETF (Nasdaq: FTXR)
“Nasdaq designed the index family to blend three known and powerful investment factors to create a smarter approach to sector investing,” said Dave Gedeon, Vice President and Head of Research & Development at Nasdaq Global Indexes. To construct each index, Nasdaq selects the most liquid eligible securities within a specific sector from the Nasdaq US Benchmark Index and then ranks them on the three factors – volatility, value and growth. The securities that are selected for each index are weighted based upon their combined score of the three factors. “The Smart Sector family was built off our focus on delivering outcome-oriented strategies to investors,” Gedeon said.
“These ETFs provide investment advisors with a new set of tools for investing in important industries, while biasing portfolio exposure toward lower valuations, stronger momentum, and less volatility,” said Ryan Issakainen, CFA, Senior Vice President, Exchange-Traded Fund Strategist at First Trust.
For more information about First Trust, please contact Ryan Issakainen of First Trust at (630) 765-8689 or RIssakainen@FTAdvisors.com.
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