First Trust Revamps Old Strategy into Dynamic 'People's' ETF

Related: 10 Hugely Popular ETF Plays in July

As long as the markets remain in a risk-on mode and continue to strengthen, the index will maintain its equity overweight position. The built in risk management component with T-Bills may help the fund better weather out any storms if the momentum strategy ever falters.

DWPP top sector tilts include information technology 15.0%, financials 15.0%, consumer discretionary 14.7%, health care 12.1% and industrials 12.0%. The current portfolio is equally weighted with top holdings including Freeport-McMorRan 0.3%, Alexion Pharmaceuticals 0.2% and The Boeing Company 0.2%.

For more information on new fund products, visit our new ETFs category.