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.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.