Description

First Trust AlphaDEX U.S. Health Care Sector Index ETF (the "First Trust ETF") seeks to replicate, to the extent possible, the performance of the StrataQuant Health Care Index ("Index"), net of expenses. The investment strategy of the First Trust ETF is to invest in and hold the Constituent Securities of the applicable Index in the same proportion as they are reflected in the Index or securities intended to replicate the performance of such Index. The Index results from applying the AlphaDEX methodology to the Russell 1000 Index, a market index representing the large and mid-capitalization segment of the U.S. equity universe, and then selecting the Constituent Securities for the Index from those qualifying stocks included in the Health Care Sector.