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First Trust CBOE S&P 500 VIX Tail Hedge Fund ETF makes changes to investment objective


The First Trust CBOE S&P 500 VIX Tail Hedge Fund (VIXH) exchange-traded index fund is to adopt a new underlying index as of 18 August, 2017.

From that date, VIXH will seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Nasdaq Dorsey Wright People’s Portfolio Index, a new index developed, maintained and sponsored by Nasdaq, Inc..
It is also anticipated that on or around 18 August, 2017, the Fund will change its name to First Trust Dorsey Wright People’s Portfolio ETF. The Fund will continue to list and trade its shares on NYSE under the ticker symbol VIXH until 18 August, 2017, at which time the Fund will list and trade its shares on the NASDAQ Stock Market LLC under the ticker symbol DWPP. The Fund will obtain a new CUSIP and other identifiers.
The New Index is designed to provide exposure to the US equity market or T-Bills, based upon a relative strength analysis. If T-Bills have higher relative strength than the US equity market, then the New Index will consist entirely of 1 to 3-month T-Bills. If T-Bills have lower relative strength than the US equity market, then the New Index will consist of whichever index has higher relative strength between the Nasdaq US 500 Large Cap Index or the Nasdaq US 500 Large Cap Equal Weight Index.

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