First Trust starts a rotation

Toronto-based FT Portfolios Canada Co. has unveiled First Trust Dorsey Wright Dynamic U.S. Sector Rotation Index ETF (C$-hedged). This ETF seeks to replicate the performance of the Dorsey Wright U.S. sector focus five index and generally will hedge its U.S.-dollar exposure to the Canadian dollar. The index uses a rules-based strategy to construct a portfolio with equally weighted exposure to five Toronto Stock Exchange-listed U.S. sector index ETFs that represent the strongest U.S. sectors relative to other sectors. That index may include: consumer staples, consumer discretionary, energy, financials, industrials, health care, materials, technology and utilities. The management fee is 0.3% of NAV.

(fcollie@investmentexecutive.com).