The First Trust NASDAQ Technology Dividend 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 Technology Dividend IndexSM (the “Index”).
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The First Trust High Income ETF (FTHI) and Low Beta Income ETF (FTLB) will use index options as a complement to its equity holdings.
The Nasdaq Rising Dividend Achievers ETF (RDVY) tracks an index of 50 companies with a history of raising payouts, and "that exhibit the characteristics to potentially continue doing so in the future."
Nasdaq indices are used in a number of well-followed dividend ETFs such as PowerShares' High Yield Dividend Achievers Portfolio (PEY) and PowerShares' Dividend Achievers Portfolio (PFM).
For its part, FirstTrust's other dividend ETFs include the Nasdaq Technology Index Fund (TDIV) and the Value Line Dividend Index Fund (FVD).