FVC First Trust Dorsey Wright Dynamic Focus 5 ETF
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FVC First Trust Dorsey Wright Dynamic Focus 5 ETF
Seeks to track, before fees and expenses, the Dorsey Wright Dynamic Focus Five Index. The Index is designed to provide targeted exposure to five First Trust sector and industry based ETFs and the Nasdaq US T-Bill Index (the "cash index"). The Index combines Dorsey, Wright & Associates' (DWA) systematic momentum approach to sector rotation and risk management via cash equivalents represented by 1- to 3-month U.S. Treasury bills in the cash index. To construct the index, DWA begins with the universe of First Trust sector and industry ETFs and the cash index. Using the DWA proprietary relative strength methodology, the ETFs are compared to each other to determine inclusion by measuring each ETF's price momentum relative to other ETFs in the universe. Each ETF is given a score that allows the index to objectively determine where it ranks relative to all other ETFs in the universe and five ETFs that satisfy certain trading volume and liquidity requirements are selected for inclusion. The relative strength analysis is conducted twice monthly. ETFs are replaced when they fall sufficiently out of favor, based on their relative strength, versus the other ETFs within the universe. When an ETF is added or removed, the index is rebalanced so each ETF position is equally weighted. The Index can gain varying amounts of exposure to the cash index when the relative strength of more than one-third of the universe of First Trust ETFs begins to diminish relative to the cash index. The cash index is evaluated twice monthly. The cash index may constitute between 0% and 95% of the index, but is limited to an increase or decrease of no more than 33% per evaluation.
$31.85 -0.41 (-1.27%)
As of 03/23/2023 15:41:09 EST IEX book CBOE book
ETF Information
Sponsor: First Trust
Category1: US Equity
Category2: Broad Market
Category3: Multi-cap
Morningstar category: Large Blend
Leverage factor: 1.00
Note: Uses downside hedging
Inception date: 03/08/2016
Index tracking method: Passive replication
Current yield: 1.49%
Historical average yield: 0.65%
Market cap: $255,839,264
Average volume: 47,784
Fees: 0.8900%
Index Information
Dorsey Wright Dynamic Focus Five Index
Index symbol: DWANQDFF
Provider: NASDAQ OMX
Total return index symbol: DWANQDFFT
Index weighting: Equal weighted
Index inception date: 02/29/2016
Backtesting data exists: Yes
Number of holdings: 5
Strategy: Sector rotation
Factors used to select securities: