First Trust Launches New ETFs

First Trust launched 16 AlphaDEX exchange traded funds (ETFs) today.  According to the press release, the ETFs are designed to track the performance of a group of custom "enhanced" indexes.  Seven are created and administered by Standard & Poor’s.  Nine are sector based, equal-dollar weighted and follow Amex’s StrataQuant family of indexes. 

In addition to the AlphaDEX ETFs, First Trust launched the S&P REIT Index (FRI).  This launch brings the ETF provider to 29 ETF products.