First Trust NASDAQ CEA Smartphone Index ETF (FONE) - NASDAQ
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FONE Description

The First Trust NASDAQ CEA Smartphone Index Fund is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the NASDAQ OMX CEA Smartphone IndexSM (the “Index”).

There can be no assurance that the Fund's investment objectives will be achieved.

* The Index is designed to track the performance of companies engaged in the Smartphone segment of the telecom and technology sectors. To be eligible for the index, issuers of the securities must be identified as being engaged in the smartphone industry by the Consumer Electronics Association.

* Component securities must be listed on an index-eligible global stock exchange, as determined by the NASDAQ OMX, have a minimum float-adjusted market capitalization of $250 million and a minimum three-month average daily dollar trading volume of $1 million.

* All securities are then classified according to the following three business segments:

o Handsets: Companies primarily engaged in the manufacturing of wireless equipment, specifically of smartphone handheld devices.

o Software Applications and Hardware Components: Companies primarily engaged in the support of smartphones through creation of operating systems, processor chips, network hardware and software, and other elements to support the operations of a smartphone.

o Network Providers: Companies engaged in providing the wireless network access for use by smartphones.

* 45% of the index weight is allocated to Handsets, 45% of the index weight is allocated to Software Applications and Hardware Components, and 10% of the index weight is allocated to Network Providers.

* Index components are equally weighted within each business segment.

* Index components are reconstituted semi-annually and rebalanced quarterly.

See more details on sponsor's website
Sector: Technology
Country: United States
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