First Trust Switches Seven AlphaDEX® ETFs To The Nasdaq Stock Market

Nasdaq announced that First Trust recently transferred seven AlphaDEX^® exchange traded-funds (ETFs) from NYSE Arca to The Nasdaq Stock Market^®. Each fund listed and will continue to trade its shares on Nasdaq under the same ticker symbol as was used on NYSE.

“As a leader in listing and trading, we’re always looking for ways to help ETF issuers like First Trust grow their business,” said Salil Donde, Executive Vice President, Nasdaq Global Information Services. “Earlier this year, we collaborated with First Trust to transfer 10 AlphaDEX® ETFs to the Nasdaq Marketplace, and are pleased to expand our relationship to include seven additional products. The switch of these funds to the Nasdaq Indexes, reinforces our successful partnership and underlying commitment to provide powerful solutions to all ETF issuers.”

Each fund will seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of a Nasdaq AlphaDEX^® Equity Index (each, a “New Index”). Each New Index is a modified equal-dollar weighted index developed and maintained by Nasdaq that may generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX^® selection methodology. Accordingly, the Funds’ Index Provider will change to Nasdaq.

“The AlphaDEX index methodology aims to provide better long-term, risk-adjusted returns than traditional market-cap weighted indices, by both selecting and weighting portfolios on the basis of investment merit, rather than size,” said Ryan Issakainen, CFA, Senior Vice President and ETF Strategist at First Trust.

Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants that represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services. As the home to some of the world’s most innovative ventures, Nasdaq generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.

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