The First Trust Dorsey Wright International Focus 5 ETF (NasdaqGM: IFV) debuted Wednesday, marking the introduction of an international answer to the already popular First Trust Dorsey Wright Focus 5 Fund (NasdaqGM: FV).

FV, which debuted in early March, has already hauled in $364.7 million in assets under management while returning 7.1% over the past 90 days.

IFV is comprised of five First Trust international ETFs displaying positive relative strength ETFs, the same approach FV takes to First Trust sector and industry ETFs. The new ETF will charge 1.1% per year. [New Focus 5 ETF Due Out]

“Relative strength is a ranking system used to measure a security’s price momentum relative to its peers. Dorsey Wright believes it has refined its relative strength investment approach, creating a valuable and robust tool for portfolio selection that relies on unbiased, unemotional and objective data,” according to First Trust.

The current members of the Dorsey Wright International Focuse Five Index (DWANQIFF) are as follows: The First Trust Canada AlphaDEX Fund (NYSEArca: FCAN), First Trust Emerging Markets Small Cap AlphaDEX Fund (NYSEArca: FEMS), First Trust Germany AlphaDEX Fund (NYSEArca: FGM), First Trust Switzerland AlphaDEX Fund (NYSEArca: FSZ) and the First Trust United Kingdom AlphaDEX Fund (NYSEArca: FKU), according to NASDAQ OMX Global Indexes.

Doresy Wright’s relative strength analysis is conducted on a weekly basis with ETFs moving out of the index if “when they fall sufficiently out of favor. The index is rebalanced periodically so each position is equally weighted.”