2 ETFs Get Revamped

2 ETFs Get Revamped

First Trust’s dramatic changes completely renovate the two targeted funds.

ETF.com
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Reviewed by: etf.com Staff
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Edited by: etf.com Staff

First Trust intends to totally transform two of its smaller funds by late August. The firm has plans to assign new names, tickers and indexes to the $30 million First Trust RBA Quality Income ETF (QINC) and the $14 million First Trust International Multi-Asset Diversified Income ETF (YDIV), effective Aug. 29.

YDIV will become the First Trust S&P International Dividend Aristocrats ETF (FID) and track the S&P International Dividend Aristocrats Index. While it will maintain its international flavor, it will no longer cover multiple asset classes, just equities. The fund is currently an international version of First Trust’s $704 million Multi-Asset Diversified Income Index Fund (MDIV) and launched a year after the original, but never caught on with investors.

FID’s index will track the 100 highest-yielding securities from the S&P Global Broad Market Index, subject to a range of constraints, according to the new prospectus.

QINC will become the First Trust Dorsey Wright Momentum & Dividend ETF (DDIV) and track the NASDAQ Dorsey Wright Momentum + Yield Index. The new index will track 50 high-dividend-yield equities that also exhibit strong forward price momentum, according to the prospectus supplement.

Contact Heather Bell at [email protected]

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