First Trust unveils ETF

Toronto-based First Trust Portfolios Canada Co. has launched First Trust AlphaDEX European Dividend Index ETF (C$-hedged), which will provide investors with low-cost exposure to European equities while hedging potential declines in foreign currencies. This exchange-traded fund (ETF) seeks to replicate, to the extent possible, the performance of the AlphaDEX European dividend index, net of expenses. This ETF’s investment strategy is to invest in and hold the constituent securities of the AlphaDEX European dividend index in the same proportion as they are reflected in the AlphaDEX European dividend index, or securities intended to replicate the performance of the index. The ETF generally will seek to hedge substantially all of its U.S. dollar, British pound sterling, euro and Swiss franc currency exposure associated with its portfolio investments back to the Canadian dollar.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).