First Trust RBA Quality Income ETF Changes Name, Investment Objective, Ticker Symbol & Management Fee Effective September 6, ...
04 Settembre 2018 - 10:22PM
Business Wire
On September 6, 2018, First Trust RBA Quality Income ETF
(Nasdaq: QINC) (the “Fund”), an exchange-traded index fund and a
series of First Trust Exchange-Traded Fund VI (the “Trust”), will
change its investment objective to seek investment results that
correspond generally to the price and yield (before the Fund’s fees
and expenses) of an index called the Dorsey Wright Momentum Plus
Dividend Yield Index (the “New Index”). In connection with that
change, under normal conditions, the Fund will invest at least 90%
of its net assets (including investment borrowings) in equity
securities comprising the New Index. The New Index is a rules-based
equity index designed to track the overall performance of the 50
stocks with the highest dividend yield comprising the NASDAQ US
Large Mid Index that still maintain high levels of “relative
strength.” The New Index is owned and developed by Nasdaq, Inc.
(“Nasdaq”).
Effective September 6, 2018, the Fund’s name will change to
First Trust Dorsey Wright Momentum & Dividend ETF, and the Fund
will reduce its annual management fee payable by the Fund to First
Trust Advisors L.P. (“FTA”), the Fund’s investment adviser, from
0.70% of the Fund’s average daily net assets to 0.60% of the Fund’s
average daily net assets. FTA will continue to manage the
investment of the Fund’s assets and will be responsible for the
Fund’s expenses, including the cost of transfer agency, custody,
fund administration, license fees, legal, audit and other services,
but excluding fee payments under the Investment Management
Agreement, interest, taxes, acquired fund fees and expenses, if
any, brokerage commissions and other expenses connected with the
execution of portfolio transactions, distribution and service fees
related to a Rule 12b-1 plan, if any, and extraordinary expenses,
which are paid by the Fund. The reduction in the management fee
will have no effect on the services provided to the Fund by FTA.
These changes were previously announced on June 13, 2018.
The Fund will continue to list and trade its shares on the
Nasdaq Stock Market LLC under the ticker symbol QINC until
September 6, 2018, at which time the Fund will list and trade its
shares under the ticker symbol “DDIV.” The Fund’s new CUSIP will be
33738R696.
FTA is a federally registered investment advisor and serves as
the Fund’s investment advisor. FTA and its affiliate First Trust
Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are
privately-held companies that provide a variety of investment
services. FTA has collective assets under management or supervision
of approximately $130 billion as of July 31, 2018 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separate managed accounts. FTA is the supervisor of the
First Trust unit investment trusts, while FTP is the sponsor. FTP
is also a distributor of mutual fund shares and exchange-traded
fund creation units. FTA and FTP are based in Wheaton,
Illinois.
You should consider the Fund’s investment objectives, risks,
charges and expenses carefully before investing. Contact First
Trust portfolios L.P. at 1-800-621-1675 or visit
www.ftportfolios.com to obtain a prospectus or summary prospectus
which contains this and other information about the Fund.
The New Index has been licensed for use by the Fund. Nasdaq,
Dorsey Wright Momentum Plus Dividend Yield Index, and NASDAQ US Mid
Large Index are trademarks of Nasdaq (which with its affiliates is
referred to as the “Corporations”) and are licensed for use by FTA.
The Fund has not been passed on by the Corporations as to their
legality or suitability. The Fund is not issued, endorsed, sold, or
promoted by the Corporations. The Corporations make no warranties
and bear no liability with respect to the Fund.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, FTA is not undertaking to give
advice in any fiduciary capacity within the meaning of ERISA and
the Internal Revenue Code. FTA has no knowledge of and has not been
provided any information regarding any investor. Financial advisors
must determine whether particular investments are appropriate for
their clients. FTA believes the financial advisor is a fiduciary,
is capable of evaluating investment risks independently and is
responsible for exercising independent judgment with respect to its
retirement plan clients.
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version on businesswire.com: https://www.businesswire.com/news/home/20180904005858/en/
First Trust RBA Quality Income ETFPress Inquiries:Ryan
Issakainen, 630-765-8689orAnalyst Inquiries:Stan Ueland,
630-517-7633
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