Currently, FV includes a 23.2% position in First Trust NYSE Arca Biotechnology Index Fund (NYSEArca: FBT), 21.0% in First Trust Dow Jones Internet Index Fund (NYSEArca: FDN), 19.1% in First Trust Consumer Staples AlphaDEX Fund (NYSEArca: FXG), 19.0% in First Trust Health Care AlphaDEX Fund (NYSEArca: FXH) and 17.6% in First Trust Consumer Discretionary AlphaDEX Fund (NYSEArca: FXD). These sectors have been among the top movers in the markets.
While the individual ETFs come with expense ratios that range from 0.54% to 0.70%, FV incurs an additional fee toward paying for licensing the strategy, fund operations and profit for First Trust.
FV has gained 2.0% year-to-date.
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Max Chen contributed to this article.