The First Trust Dorsey Wright Focus 5 ETF (NASDAQ: FV) has now reached over USD1 billion in assets under management and is the second fastest growing ETF that launched this year, according to Morningstar.
The fund seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of an equity index called the Dorsey Wright Focus Five Index (the index). The index was developed by Dorsey, Wright & Associates (DWA) to provide targeted exposure to the five First Trust sector and industry based ETFs that DWA believes offer the greatest potential to outperform the other ETFs in the selection universe. The index is constructed using DWA’s relative strength ranking system, comparing the universe of First Trust sector and industry ETFs to each other to determine inclusion by measuring each ETF's price momentum relative to other ETFs in the universe.
“The First Trust Dorsey Wright Focus 5 ETF provides an efficient, scalable way for financial advisors and their clients to gain exposure to a sector rotation strategy, combining the insights of Dorsey Wright’s research on relative strength with First Trust’s robust lineup of sector and industry ETFs,” says Ryan Issakainen, CFA, Senior Vice President, Exchange-Traded Fund Strategist at First Trust.
“We would like to thank all of you that have helped FV reach this significant milestone. We truly appreciate your unwavering support,” says Tom Dorsey, President and CEO of Dorsey, Wright & Associates. “We appreciate the opportunity to work with First Trust to educate and support the financial advisors about the use of ETFs and the potential benefits these investment solutions bring to investors.”