New Investment Objective That Corresponds to the Nasdaq AlphaDEX(R) Total US Market Index
Nasdaq today announced that First Trust will transfer the First Trust Value Line® Equity Allocation Index Fund (Symbol: FVI) from NYSE Arca to be listed on The Nasdaq Stock Market® on or about Friday, January 9, 2015. The fund's new investment objective will seek investment results that correspond generally to the price and yield (before the fund's fees and expenses) of the Nasdaq AlphaDEX® Total US Market Index. The new fund will be referred to as the First Trust Total US Market AlphaDEX® ETF (Symbol: TUSA).
"We are excited to build our partnership with our good partners at First Trust through the transfer of the First Trust Value Line® Equity Allocation Index Fund to The Nasdaq Stock Market," said Jeffrey McCarthy, Head of ETP Listings at Nasdaq. "We will continue to provide issuers like First Trust with an end-to-end solution that provides ongoing support at every level including index licensing, listings opportunities, data offerings and trading services."
The Nasdaq AlphaDEX® Total US Market Index is designed to objectively identify and select stocks across market capitalizations (including large-cap, mid-cap and small-cap companies) that exhibit growth and value factors and appear to have the greatest potential for capital appreciation. It is a modified equal-dollar weighted index comprised of U.S. exchange-listed securities of companies with capital appreciation potential.