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First Trust construction and engineering ETF launched on NYSE Arca

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NYSE Euronext has announced the listing of the First Trust ISE Global Engineering and Construction Index Fund on NYSE Arca, the largest US exchange in terms of exchange-traded fund and exc

NYSE Euronext has announced the listing of the First Trust ISE Global Engineering and Construction Index Fund on NYSE Arca, the largest US exchange in terms of exchange-traded fund and exchange-traded note listings as well as assets under management.

The Global Engineering and Construction Index Fund, a sub-fund of the First Trust Exchange-Traded Fund II, aims to achieve investment results equating to the price and yield (before fees and expenses) of the ISE Global Engineering and Construction Index, a benchmark for public companies worldwide active in the engineering and construction industries.

As of September 19, the index comprised 68 stocks, including 54 from outside the US representing around 75 per cent of the index. The companies represented in the index are from 16 countries and their stocks are traded on 18 exchanges.

First Trust Portfolios and its affiliate, First Trust Advisors, were established in 1991 and operate in the US, Canada and Europe, providing investment services including asset management, financial advisory, municipal and corporate investment banking and fund sponsorship.

Exchange-traded products listed on NYSE Arca represent 59 per cent of ETF and ETN assets under management in the US with a total of nearly USD353bn. Including the First Trust listing, NYSE Arca has 293 primary ETFs, 79 ETNs and 17 certificates, and trades all other eligible ETFs on an unlisted trading privileges basis. Last year the market added 101 new ETFs and ETNs to its roster of primary listings, including 80 IPOs.

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