Financial News

First Trust CBOE S&P 500 VIX Tail Hedge Fund Changes Investment Objective, Fund Name, Listing Exchange and Ticker Symbol

First Trust CBOE S&P 500 VIX Tail Hedge Fund (NYSE: VIXH) (the “Fund”), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund (the “Trust”), announced today that the Trust has changed the Fund’s 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 Nasdaq Dorsey Wright People’s Portfolio Index (the “New Index”). The New Index is developed, maintained and sponsored by Nasdaq, Inc. (“Nasdaq”).

The Fund also changed its name to First Trust Dorsey Wright People’s Portfolio ETF. The Fund’s shares are listed and trade on the NASDAQ Stock Market LLC under the ticker symbol DWPP. The Fund’s new CUSIP, ISIN and SEDOL are 33733E880, US33733E8802 and BZBYDF1, respectively.

The New Index is designed to provide exposure to either the US equity market or T-Bills, based upon daily relative strength readings resulting from a wholly quantitative analysis. The Index always holds exactly one of three possible positions: all the component securities in the Nasdaq US 500 Large Cap Index, all the component securities of the Nasdaq US 500 Large Cap Equal Weight Index or all the component securities of the Nasdaq US T-Bill Index (each such Index, an “Underlying Index”). If T-Bills have higher relative strength than the US equity market, then the New Index will consist entirely of 1 to 3-month T-Bills. If T-Bills have lower relative strength than the US equity market, then the New Index will consist of whichever index has higher relative strength between the Nasdaq US 500 Large Cap Index or the Nasdaq US 500 Large Cap Equal Weight Index.

First Trust Advisors L.P., the Fund's investment advisor, 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 $109 billion as of July 31, 2017 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.

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, Nasdaq Dorsey Wright People’s Portfolio Index, Nasdaq US 500 Large Cap Index, Nasdaq US 500 Large Cap Equal Weight Index and Nasdaq US T-Bill Index are trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by First Trust Advisors L.P. 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.

Contacts:

First Trust CBOE S&P 500 VIX Tail Hedge Fund
Press Inquiries:
Ryan Issakainen 630-765-8689
Analyst Inquiries:
Stan Ueland 630-517-7633

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