First Trust Advisors has launched nine new international exchange-traded funds (ETFs) on NYSE Arca along with four core domestic ETFs.
These new ETFs join the current line-up of 16 AlphaDEX funds trading on the NYSE Arca.
the new ETFs are: FPA First Trust Asia Pacific Ex-Japan AlphaDEX Fund; FEP First Trust Europe AlphaDEX Fund; FLN First Trust Latin America AlphaDEX Fund; FBZ First Trust Brazil AlphaDEX Fund; FCA First Trust China AlphaDEX Fund; FJP First Trust Japan AlphaDEX Fund; FKO First Trust South Korea AlphaDEX Fund; FDT First Trust Developed Markets Ex-US AlphaDEX Fund; FEM First Trust Emerging Markets AlphaDEX Fund; FNY First Trust Mid Cap Growth AlphaDEX Fund; FNK First Trust Mid Cap Value AlphaDEX Fund; FYC First Trust Small Cap Growth AlphaDEX Fund; and FYT First Trust Small Cap Value AlphaDEX Fund.
“We are excited to add these thirteen new funds to the AlphaDEX family of ETFs, nearly doubling the existing line-up,” says Dan Waldron, Senior Vice President, Exchange-Traded Funds Strategist of First Trust. “The AlphaDEX funds are designed to do what their name implies: generate Alpha, and we are pleased with their track record since the bottom of the market in February 2009. The nine new funds comprising the AlphaDEX International line-up are a diverse group of broad, regional and single country funds. We believe the positive effects of globalisation are going to continue for years to come and investors may benefit from a globally diversified investment portfolio, particularly in the emerging markets where GDP growth for 2011 is projected to be 6.4%, compared to 2.2% for advanced economies, according to the International Monetary Fund."
The AlphaDEX ETF product line was initially launched in May of 2007. Prior to the addition of these 13 funds, the line-up consisted of 16 domestic funds with over USD2.8 billion in assets currently under management. The entire First Trust family of ETFs has over USD7.4 billion in assets as of 3/31/11.
The AlphaDEX funds are designed to track the performance of a group of custom “enhanced” indexes which employ the proprietary, rules-based AlphaDEX fundamental stock selection methodology. The AlphaDEX methodology is relatively simple and uses only three growth factors and three value factors.
The index each AlphaDEX fund tracks is designed to generate Alpha and provide a higher return than a traditional Beta index.