First Trust Dorsey Wright Momentum & Dividend ETF (DDIV)
First Trust Dorsey Wright Momentum & Dividend ETF operates in the Asset Management - Income industry of the Financial Services sector, headquartered in Wheaton, IL, US. The stock last traded at $47.38, up 0.27% on the session, giving a market capitalisation of $68.3M. Its beta of 0.93 implies it has historically moved less than the broad market.
This exchange-traded fund, known as the First Trust Dorsey Wright Momentum & Dividend ETF (and previously as the First Trust RBA Quality Income ETF), is structured to replicate the financial performance, specifically the price appreciation and income generation, of its benchmark, the Dorsey Wright Momentum Plus Dividend Yield Index. This objective is pursued before accounting for the fund's operational expenses. Typically, the ETF commits a substantial portion—at least 90%—of its total net assets (which may include borrowed funds) into the stock components that constitute the aforementioned Index. Employing a passive indexing strategy, the fund endeavors to closely mirror the Index's returns prior to the deduction of fees and charges. The investment advisor aims for a high degree of synchronicity, targeting a correlation coefficient of 0.95 or higher between the fund's performance and that of the Index, again, before expenses; a value of 1.00 would denote perfect alignment. The development and ownership of this underlying Index belong exclusively to Nasdaq, Inc.
First Trust Dorsey Wright Momentum & Dividend ETF is most often compared with the following Financial Services names: