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First Trust NASDAQ Global Auto Index ETF (CARZ)

- NASDAQ
  • Oct. 28, 2011, 6:45 AM
    Swedish Automotive says it will sell 100% interests in Saab Automotive and Saab Great Britain to two Chinese companies for €100M ($142M), pending approval from authorities and shareholders. As part of the deal, the two firms have agreed to provide Saab Automotive with the necessary funding to stave off bankruptcy and reorganize itself.
    | Oct. 28, 2011, 6:45 AM | Comment!
  • Jul. 6, 2011, 3:57 PM
    Aston Martin plans to start exporting cars to China, and push into other emerging markets as it looks to expand sales. The U.K. carmaker was sold off by Ford (F -1.1%) in 2007, but is now eyeing a window for its own IPO.
    | Jul. 6, 2011, 3:57 PM | 1 Comment
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CARZ Description
Investment Objective/Strategy - The First Trust NASDAQ Global Auto Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek 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 Global Auto Index.

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

* The index is a modified market-capitalization weighted index that includes securities of companies that are classified as an Automobile Manufacturer.

* To be included in the index, a security must meet the following criteria:
o listed on an index-eligible global stock exchange,
o have a minimum worldwide market capitalization of at least $500 million,
o have a minimum three-month average daily dollar trading volume of $1 million.

* The index employs a modified market cap weighting methodology in which larger companies receive a larger index weighting. The index weighting methodology includes caps to prevent high concentrations among larger stocks.

* The index is reconstituted annually and rebalanced quarterly.
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