KUALA LUMPUR, Oct 23 (Bernama) -- First Trust'S new exchange-traded fund, First Trust Eurozone AlphaDEX® ETF (Symbol: FEUZ), began trading on The Nasdaq Stock Market on Wednesday, October 22, 2014.
"The AlphaDEX index methodology aims to provide better long-term, risk-adjusted returns than traditional market-cap weighted indices," said Ryan Issakainen, CFA, Senior Vice President and ETF Strategist at First Trust in a statement issued by Nadaq in New York today.
"This ETF joins First Trust's existing lineup of 39 other AlphaDEX ETFs, in providing stock selection and weightings based on investment merit, rather than size."
FEUZ is an exchange-traded fund that seeks investment results that correspond generally to the price and yield, before the fund's fees and expenses, of the Nasdaq AlphaDEX® Eurozone Index. The fund is based on a custom enhanced index which employs the proprietary, rules-based AlphaDEX® fundamental stock selection methodology. FEUZ provides a way to gain exposure to the potential opportunity in Eurozone equities without having to choose individual companies.
The statement added by providing additional features such as tax efficiency, exchange-traded liquidity and transparency, the fund offers an alternative strategy to active management when seeking alpha.
"We will continue to support First Trust as they expand their robust product offering and gain exposure to traders that participate in multiple asset classes and execution platforms globally," said Walt Smith, Vice President, Head of U.S. Equities at Nasdaq.
Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services.
First Trust Advisors L.P., along with its affiliate First Trust Portfolios L.P., are privately held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $90 billion as of September 30, 2014 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.
-- BERNAMA/MREM
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