First Trust RBA Quality Income ETF Announces Changes to Investment Objective, Fund Name, Ticker Symbol and Management Fee
14 6월 2018 - 6:02AM
Business Wire
First Trust RBA Quality Income ETF (Nasdaq: QINC) (the “Fund”),
an exchange-traded index fund and a series of First Trust
Exchange-Traded Fund VI (the “Trust”), announced today that the
Board of Trustees (“Board”) of the Trust has approved changes to
the Fund’s investment objective. On or around September 5, 2018,
the Fund will seek investment results that correspond generally to
the price and yield (before the Fund’s fees and expenses) of an
index called the Nasdaq Dorsey Wright Momentum + Yield Index (the
“New Index”) and normally will invest at least 90% of its net
assets (including investment borrowings) in securities comprising
the New Index. The New Index will be developed, maintained and
sponsored by the Nasdaq Stock Market, LLC (“Nasdaq”).
The Board of the Trust also approved a reduction in the annual
management fee payable by the Fund to First Trust Advisors L.P.
(“FTA”), the Fund’s investment adviser, from 0.70% of the Fund’s
average daily net assets to 0.60% of the Fund’s average daily net
assets. FTA will manage the investment of the Fund’s assets and
will be responsible for the Fund’s expenses, including the cost of
transfer agency, custody, fund administration, licensing fees,
legal, audit and other services, but excluding fee payments under
the Investment Management Agreement, interest, taxes, brokerage
commissions and other expenses connected with the execution of
portfolio transactions, distribution and service fees related to a
Rule 12b-1 plan, if any, acquired fund fees and expenses, and
extraordinary expenses, which are paid by the Fund. The reduction
in the management fee will have no effect on the services provided
to the Fund by FTA and will be effective on or around September 5,
2018. It is also anticipated that on or around September 5, 2018,
the Fund will change its name to First Trust Dorsey Wright Momentum
& Dividend ETF. The Fund will continue to list and trade its
shares on the Nasdaq Stock Market LLC under the ticker symbol QINC
until September 5, 2018, at which time the Fund will list and trade
its shares under the ticker symbol “DDIV”. The Fund will obtain a
new CUSIP and other identifiers.
The New Index is designed to provide U.S. equity exposure to the
50 securities in the NASDAQ U.S. Mid Large Index that provide a
high level of dividend income. The New Index is a rules-based
equity index designed to track the overall performance of the 50
stocks with the highest dividend yield comprising the NASDAQ U.S.
Mid Large Index that still maintain high levels of “relative
strength.”
FTA., the Fund's investment advisor, along with its affiliate,
First Trust Portfolios L.P., are privately-held companies which
provide a variety of investment services, including asset
management and financial advisory services, with collective assets
under management or supervision of approximately $126 billion as of
May 31, 2018 through unit investment trusts, exchange-traded funds,
closed-end funds, mutual funds and separate managed accounts.
You should consider the Fund’s investment objectives, risks,
charges and expenses carefully before investing. Contact First
Trust portfolios L.P. at 1-800-621-1675 or visit
www.ftportfolios.com to obtain a prospectus or summary prospectus
which contains this and other information about the Fund.
The New Index has been licensed for use by the Fund. Nasdaq,
Nasdaq Dorsey Wright Momentum + Yield Index, and NASDAQ U.S. Mid
Large Index are trademarks of Nasdaq, Inc. (which with its
affiliates is referred to as the “Corporations”) and are licensed
for use by FTA. The Fund has have not been passed on by the
Corporations as to their legality or suitability. The Fund is not
issued, endorsed, sold, or promoted by the Corporations. The
Corporations make no warranties and bear no liability with respect
to the Fund.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, FTA is not undertaking to give
advice in any fiduciary capacity within the meaning of ERISA and
the Internal Revenue Code. FTA has no knowledge of and has not been
provided any information regarding any investor. Financial advisors
must determine whether particular investments are appropriate for
their clients. FTA believes the financial advisor is a fiduciary,
is capable of evaluating investment risks independently and is
responsible for exercising independent judgment with respect to its
retirement plan clients.
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version on businesswire.com: https://www.businesswire.com/news/home/20180613006236/en/
First Trust RBA Quality Income ETFPress Inquiries: Ryan
Issakainen, 630-765-8689Analyst Inquiries: Stan Ueland,
630-517-7633
First Trust Rba Quality Income Etf (delisted) (NASDAQ:QINC)
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First Trust Rba Quality Income Etf (delisted) (NASDAQ:QINC)
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