First Trust’s international IPO ETF will compete with the Renaissance International IPO ETF (NYSEArca: IPOS), which debuted earlier this month.
“Recent IPOs and spin-offs represent an important segment of the international stock market that is often absent from broad international index ETFs,” said First Trust Senior Vice President and ETF Strategist Ryan Issakainen in the statement.
Illinois-based First Trust has been one of the more prolific issuers of new ETFs this year with 11 new product launches. Other new ETFs from First Trust include the First Trust Long/Short Equity ETF (NYSEArca: FTLS), First Trust NASDAQ Rising Dividend Achievers ETF (NasdaqGM: RDVY) and the First Trust Strategic Income ETF (NasdaqGM: FDIV).
ETF Trends editorial team contributed to this post.