First Trust, the sixth-largest U.S. issuer of exchange traded funds, will bolster its lineup this week with the introduction of two new ETFs.
One of the new ETFs, the First Trust Eurozone AlphaDEX ETF, will join First Trust’s popular lineup of AlphaDEX ETFs, a group of funds that have been instrumental in the issuer’s rise to among the largest in the U.S. The First Trust Eurozone AlphaDEX, which will trade on the NASDAQ Stock Market under the ticker FEUZ, will be First Trust’s 40th AlphaDEX offering. [AlphaDEX ETFs Drive First Trust’s Growth]
FEUZ joins other well-known AlphaDEX ETFs such as the First Trust Energy AlphaDEX Fund (NYSEArca: FXN) and the First Trust Health Care AlphaDEX Fund (NYSEArca: FXH). First Trust’s other Europe offerings include the $503.5 million First Trust Europe AlphaDEX Fund (NYSEArca: FEP) and the $148.1 million First Trust STOXX European Select Dividend Index Fund (NYSEArca: FDD).
First Trust’s other new addition is the First Trust International IPO ETF. The international complement to the popular First Trust US IPO Index Fund (NYSEArca: FPX), the First Trust International IPO ETF will also trade on the NASDAQ under the ticker “FPXI.”
The ETF will track the IPOX International Index, which tracks “the performance of the 50 largest and typically most liquid companies that are domiciled outside the U.S. within the IPOX Global Composite Index,” according to a statement issued by First Trust.
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.