Today, First Trust launched a sequel to its blockbuster $7.7 billion First Trust Dow Jones Internet Index Fund (FDN). The new First Trust Dow Jones International Internet ETF (FDNI) tracks an index that includes 40 non-U.S. companies engaged primarily in internet commerce or the provision of internet services.
FDNI carries an expense ratio of 0.65% and lists on the Nasdaq stock exchange.
The underlying index is derived from the S&P Global ex-U.S. Broad Market Index, selecting from companies listed on an exchange in a developed market and that meet the methodology’s size and liquidity requirements. Half of the companies in the index are internet service providers, and half are internet commerce companies.
The methodology selects the largest companies from each category that meet the index’s requirements and weights them by market capitalization, subject to a 10% cap on individual companies, the prospectus says.
Contact Heather Bell at [email protected]