Description

The First Trust AlphaDEX U.S. Technology Sector Index ETF (or "First Trust ETF") aims to closely mirror the performance of the StrataQuant Technology Index, after accounting for its expenses. Its investment approach involves acquiring and maintaining the same underlying securities as found in that index, in identical proportions, or by investing in financial instruments structured to replicate its returns. The StrataQuant Technology Index itself is compiled through the application of the AlphaDEX methodology. This process initially screens the Russell 1000 Index, which covers a wide range of large and mid-sized U.S. companies, and then specifically selects qualifying stocks exclusively from its Technology Sector to populate the final index.