First Trust, the ETF issuer - Introduce 3 New ETFs
About: First Trust, Nasdaq-listed ETFs, First Trust BICK Index Fund, First Trust lexicon, First Trust ISE Global Copper Index Fund, Freeport McMoRan (NYSE: FCX), Southern Copper (NYSE: PCU), First Trust ISE Global Platinum Index, exchange traded funds (ETFs), ETF Profit Report
First Trust, the ETF issuer which currently offers about 40 ETFs, has announced plans to introduce three new Nasdaq-listed ETFs. The new offerings will include an emerging markets offering called the First Trust BICK Index Fund, which will trade under the ticker “BICK.” BICK is a play on the BRIC theme, but in the First Trust lexicon, BICK stands for Brazil, India, China and South Korea. No single stock will account for more than 24% of BICK's weight and stocks must have a minimum market cap of $100 million to be included in the ETF.
The other new First Trust offerings will include the First Trust ISE Global Copper Index Fund and the First Trust ISE Global Platinum Index. Investors should note that while these ETFs may be considered commodities plays, they do NOT invest directly in the underlying commodities featured in their names. Rather, they will track the stocks of companies that are materials, mining and refining names. While First Trust did not disclose specific holdings for the copper and platinum ETFs, we assume the copper ETF will hold names like Freeport McMoRan (NYSE: FCX) and Southern Copper (NYSE: PCU). All three ETFs will have expense ratios of 0.70%.
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Disclosure: no positions