Earlier this year, First Trust launched a unique momentum-based strategy that selects five underlying sector or industry ETFs, according to a relative strength-ranking system.
This index was developed by Dorsey, Wright & Associates as a method of objectively selecting the best performing sectors relative to other ETFs in the universe.
The end result is the First Trust Dorsey Wright Focus 5 ETF (NASDAQ: FV), which currently has equal allocations to biotechnology, health care, internet, consumer staples and consumer discretionary ETFs. In just a few short months, FV has gained more than $360 million in total assets, which ranks it as one of the best new ETF ...
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