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Security Profile
- Security Type
- Index ETF
- CUSIP
- 33738R803
- Market Cap
- Micro Cap · $4 Million
- IPO
- 3/10/2014
- Previous Symbol
- QINC (changed 8/29/2018)
- Previous Name
- First Trust RBA Quality Income ETF
Fund Description: First Trust Dorsey Wright Momentum & Dividend ETF, formerly First Trust RBA Quality Income ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the First Trust Exchange-Traded Fund VI, an open-end investment management company. INVESTMENT OBJECTIVE: First Trust Dorsey Wright Momentum & Dividend ETF 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 Dividend Yield Index. INDEX DESCRIPTION: The Dorsey Wright Momentum Plus Dividend Yield Index is a rules-based equity index that is designed to track the overall performance of the 50 highest dividend yielding stocks within the NASDAQ US Large Mid Cap Index that maintain 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 ranked based upon their current dividend yield, and the top 50 securities with the highest dividend yield are selected for inclusion in the index. The securities are then weighted, with greater weights given to securities with higher dividend yields. The index is reconstituted and rebalanced quarterly FUND STRATEGY: The Fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in U.S. and non-U.S., including emerging market, equity securities that comprise the Index. The non-U.S. equity securities may include American Depositary Receipts, Global Depositary Receipts or other depositary receipts. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. FUND MANAGEMENT: First Trust Advisors L.P. serves as the Fund's investment advisor.
Notes: 6/15/2018 -- Effective 8/29/2018 the fund will change its name, symbol and Index to First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) and track the NASDAQ Dorsey Wright Momentum + Yield Index. The new index will track 50 high-dividend-yield equities that also exhibit strong forward price momentum.
Company Contact
- Headquarters
- 120 E. Liberty Drive, Suite 400, Wheaton, Ill. 60187
- Phone
- 630-765-8000 · Toll-Free 800-621-1675
- Investor Relations
- 800-988-5891 · info@ftportfolios.com