The First Trust Dorsey Wright International Focus 5 ETF will debut Wednesday on the NASDAQ stock market under the ticker “IFV.”

IFV is the international equivalent of the popular First Trust Dorsey Wright Focus 5 Fund (NasdaqGM: FV), which has raked in $356.7 million in assets under management since its early March debut. [Focus 5 ETF to Get International Equivalent]

IFV will be 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.

“Using Dorsey Wright’s relative strength ranking system, the ETFs are compared to each other to determine inclusion. The top five ranking ETFs are included in the index and the relative strength analysis is conducted on a weekly basis with ETFs replaced when they fall sufficiently out of favor. The index is rebalanced periodically so each position is equally weighted. DWA believes the design of the index allows them to identify major themes in the market, have exposure to those countries or regions whose price action is superior to others and eliminate exposure to those countries or regions whose price action is sub-par relative to others,” according to a statement issued by NASDAQ OMX.

A recent filing for IFV did not indicate the five First Trust ETFs that comprise IFV. First Trust offers nearly 30 global and international funds, including the $875 million First Trust Europe AlphaDEX Fund (NYSEArca: FEP), the $155.1 million First Trust Canada AlphaDEX Fund (NYSEArca: FCAN) and the $116 million First Trust Asia Pacific ex-Japan AlphaDEX Fund (NYSEArca: FPA).

First Trust Dorsey Wright Focus 5 ETF

ETF Trends editorial team contributed to this post.

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.