First Trust Rolls Out Cloud Computing ETF

By
ETF.com Staff
July 06, 2011
Share:

First Trust launches niche fund focused on cloud computing.

First Trust, the Wheaton, Ill.-based money management firm behind the First Trust Dow Jones Internet Fund (NYSEArca: FDN), todayla unched an ETF focused on cloud computing, a growing piece of the world of technology.

The First Trust ISE Cloud Computing Index Fund will be trade under the symbol “SKYY” on Nasdaq, where the company is ringing the opening bell today. The ETF will be based on the ISE Cloud Computing Index. The fund will include companies actively involved in the cloud computing industry, according to a filing the company made with the Securities and Exchange Commission on April 20.

Cloud computing refers to computer users accessing many different servers to meet their needs, as opposed to using centralized computing resources. Companies such as Amazon with immense computing resources that go beyond internal demands have become big players in the expanding world of cloud computing.

The proposed fund recalls the niche quality of the First Trust Nasdaq CEA Smartphone Index Fund (NasdaqGM: FONE) that the firm launched in February of this year. FONE has gathered almost $16.5 million in assets, according to data compiled by IndexUniverse. Its Internet ETF, FDN, has more than $750 million in assets.

SKYY comes with an annual expense ratio of 0.60 percent.

 

ETF.COM CHANNELS

Interested in China? Use our China ETFs Channel, library, and ETF screener.

Interested in oil? Use our oil ETFs channel, library and ETF screener!

ETF DAILY DATA

The real estate ETF topped the inflows list on Tuesday, May 3.

On Tuesday, May 3, SSgA saw the largest net outflows of all ETF issuers.

ETF.COM ANALYST BLOGS

By Dave Nadig

How NAV works differently between ETFs and mutual funds.

By Drew Voros

With the broad equity ideas all taken, issuers look for thinner slices of exposure.

By David Lichtblau

How funds wash away capital gains through create/redeem process.

By Dave Nadig

End investors are the big winners; brokers—not so much.

ETF INDUSTRY PERSPECTIVE

By Adam Patti

ETFs are more tax efficient than mutual funds.

By Sprott Asset Management

New fund’s underlying index targets equities sentiment on social media.

By Kristi Kuechler

Avoid taking unrewarded—or unintended—risks.