First Trust Strategic Value Index Fund Announces New Investment Objective

first-trust-portfoliosFirst Trust Strategic Value Index Fund (NYSEARCA:FDV) (the “Fund”), an exchange-traded index fund and series of First Trust Exchange-Traded Fund (the “Trust”), announced today that on or about June 3, 2013, the Fund’s investment objective will change and the Fund will seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an equity index called The Capital Strength Index (“New Index”). Beginning on or about June 3, 2013, the Fund will normally invest at least 90% of its net assets plus the amount of any borrowings for investment purposes in common stocks that comprise the New Index. The Fund’s investment objective and the 90% investment strategy are non-fundamental policies and may be changed by the Board of Trustees of the Trust without shareholder approval upon 60 days’ prior written notice to shareholders. The Fund currently seeks investment results that correspond generally to the price and yield (before fees and expenses) of the Credit Suisse U.S. Value Index, Powered by Holt™.

The New Index is developed, maintained and sponsored by The NASDAQ OMX Group, Inc. (“NASDAQ OMX” or the “Index Provider”). In constructing the New Index, the Index Provider begins with the largest 500 U.S. companies included in the NASDAQ US Benchmark Index and excludes the following: companies with less than $1 billion in cash and short term investments; companies with long-term debt divided by market capitalization greater than 30%; and companies with return on equity less than 15%. The Index Provider then ranks all remaining stocks in the universe by one-year and three-month daily volatility (one-year and three-month daily volatility factors are equally weighted), and selects the top 50 companies, subject to a maximum weight of 30% from any one of the ten Industry Classification Benchmark industries. The stocks in the New Index are equally weighted initially and on each reconstituting and rebalancing effective date. The New Index is reconstituted and rebalanced on a quarterly basis. The inception date of the New Index was March 20, 2013 and its ticker symbol is NQCAPST.

It is also anticipated that on or about June 3, 2013, the Fund will change its name to First Trust Capital Strength ETF, the Fund will no longer list and trade its shares on the NYSE Arca under the ticker symbol “FDV” and the Fund will list and trade its shares on The NASDAQ Stock Market under the ticker symbol “FTCS”. It is also anticipated that the Fund’s CUSIP number will change on or about June 3, 2013.

First Trust Advisors L.P. (“First Trust”) has served as the Fund’s investment advisor since the Fund’s inception. First Trust, 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 $69 billion as of February 28, 2013, through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

You should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. You can download a prospectus or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus, which contains this and other information about the Fund. Read it carefully before you invest. The risks of investing in the Fund are spelled out in its prospectus, shareholder reports and other regulatory filings.

The Fund’s shares will change in value, and you could lose money by investing in the Fund. One of the principal risks of investing in the Fund is market risk. Market risk is the risk that a particular stock owned by the Fund, Fund shares or stocks in general may fall in value.

The Fund’s return may not match the return of the index. The Fund may not be fully invested at times. Securities held by the Fund will generally not be bought or sold in response to market fluctuations and the securities may be issued by companies concentrated in a particular industry.

Investors buying or selling Fund shares on the secondary market may incur brokerage commissions. Investors who sell Fund shares may receive less than the share’s net asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from the Fund by authorized participants, in very large creation/redemption units.

The Capital Strength Index is the trademark (the “Mark”) of NASDAQ OMX. The Mark is licensed for use by First Trust Portfolios L.P. The Fund has not been passed on by NASDAQ OMX as to its legality or suitability. The Fund is not issued, endorsed, sold or promoted by NASDAQ OMX. The Fund should not be construed in any way as investment advice by NASDAQ OMX. NASDAQ OMX MAKES NO WARRANTIES AND BEARS NO LIABILITY WITH RESPECT TO THE FUND OR THE CAPITAL STRENGTH INDEX.

The Fund is classified as “non-diversified.” A non-diversified Fund generally may invest a larger percentage of its assets in the securities of a smaller number of issuers. As a result, the Fund may be more susceptible to the risks associated with these particular companies, or to a single economic, political or regulatory occurrence affecting these companies.

This press release does not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

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