Insurance ETF Ensures Itself a New High

Some financial services ETFs have recently touched mutli-year highs, but investors looking for a fund tracking this sector that has made a new all-time high can turn to the First Trust Financial AlphaDEX Fund (NYSEArca: FXO).

Like the other AlphaDEX ETFs, FXO’s holdings are selected based “on growth factors including three, six and 12-month price appreciation, sales to price and one year sales growth, and, separately, on value factors including book value to price, cash flow to price and return on assets,” according to First Trust.

Said differently, FXO qualifies as a smart beta ETF. While the terminology, and some of the AlphaDEX ETFs’ performances for that matter, have been derided, there is no escaping that FXO has been less bad than traditional financial services ETFs during times of market tumult.

FXO also hit a record high last Friday.

For more information on the insurance industry, visit our insurance category.

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