First Trust Dow 30 Equal Weight ETF (EDOW)
First Trust Dow 30 Equal Weight ETF operates in the Asset Management industry of the Financial Services sector, headquartered in Wheaton, IL, US. The stock last traded at $45.06, up 0.54% on the session, giving a market capitalisation of $240.3M. Its beta of 0.84 implies it has historically moved less than the broad market.
The First Trust Dow 30 Equal Weight ETF is engineered to replicate the financial performance, encompassing both price appreciation and dividend income, of the Dow Jones Industrial Average Equal Weight Index, before factoring in the ETF's own fees and expenses. To achieve this objective, the Fund typically allocates at least 90% of its net assets, including any capital acquired through borrowing, directly into the common stocks that constitute this underlying index. Employing a passive indexing strategy, the ETF endeavors to mirror the Index's returns prior to any deductions for operational costs. The investment management team targets a strong alignment, aiming for a correlation of 0.95 or higher between the Fund's performance and the Index, acknowledging that a perfect correlation would be represented by a figure of 1.00.
First Trust Dow 30 Equal Weight ETF is most often compared with the following Financial Services names: