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First Trust adds to strength line-up with the First Trust Growth Strength ETF

First Trust Advisors has launched the First Trust Growth Strength ETF (Nasdaq: FTGS). 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 Growth Strength Index which includes screens to select well-capitalised companies with strong balance sheets, a high degree of liquidity, and a history of revenue and cash flow growth.

The firm writes that a resilient portfolio focused on growth stocks is built by identifying companies that have exhibited solid fundamentals and are expected to grow at an above-average rate compared to the broader market.

“Investment professionals have often witnessed how high quality attributes can help companies navigate periods of economic uncertainty,” says Ryan Issakainen, CFA, Senior Vice President, and ETF Strategist at First Trust. “In our opinion, FTGS may be an effective tool for those seeking to improve the quality of their allocations to large cap growth,” Issakainen said.

FTGS joins First Trust’s “strength lineup” which includes the First Trust Capital Strength ETF (FTCS), the First Trust International Developed Capital Strength (FICS), and the First Trust Dividend Strength ETF (FTDS). Similar to these other strength products, FTGS utilises initial screens to select companies that have exhibited solid fundamentals.

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