First Trust Advisors L.P. (“First Trust”), a leading ETF
provider and asset manager, announced that the First Trust RBA
American Industrial Renaissance® ETF (NASDAQ: AIRR) has reached
over $100 million in assets. The fund was launched in March of this
year and is among the fastest growing ETFs in 2014 according to
data from Morningstar.
The fund seeks investment results that correspond generally to
the price and yield (before the fund’s fees and expenses) of an
equity index called the Richard Bernstein Advisors American
Industrial Renaissance® Index (the “index”). The index was
developed by Richard Bernstein Advisors (“RBA”) to measure the
performance of small and mid cap U.S. companies in the industrial
and community banking sectors. The index is constructed using RBA’s
proprietary portfolio optimization method, which encompasses a
variety of screens and factors and their macroeconomic analysis and
judgment.
“Many of the trends that drove American companies to shift their
manufacturing operations overseas during the past few decades have
diminished or reversed more recently. As a result, an industrial
and manufacturing renaissance has emerged in the U.S., as an
increasing number of companies are choosing to manufacture their
goods here,” said Ryan Issakainen, CFA, Senior Vice President,
Exchange-Traded Fund Strategist at First Trust. “We believe
investor interest in this fund is evidence of the quality of RBA’s
research behind the American industrial renaissance theme.”
“We have contended for the past several years that the American
Industrial Renaissance was one of the world’s best investment
themes, and First Trust helped to deliver that message. AIRR’s fast
growth is the result of combining an exciting investment theme
with the professional support of First Trust to educate
financial advisors and investors about the fund,” said Richard
Bernstein, RBA’s Chief Executive and Chief Investment Officer.
For more information about First Trust, please contact Ryan
Issakainen of First Trust at (630) 765-8689 or
RIssakainen@FTAdvisors.com.
About First Trust
First Trust Advisors L.P., along with its affiliate First Trust
Portfolios L.P., are privately held companies which provide a
variety of investment services, including asset management and
financial advisory services, with collective assets under
management or supervision of approximately $105 billion as of
November 30, 2014 through unit investment trusts, exchange-traded
funds, closed-end funds, mutual funds and separate managed
accounts. First Trust is based in Wheaton, Illinois. For more
information, visit http://www.ftportfolios.com.
You should consider the fund’s investment objectives, risks,
and charges and expenses carefully before investing. Contact First
Trust Portfolios L.P. at 1-800-621-1675 to obtain a prospectus or
summary prospectus which contains this and other information about
the fund. The prospectus or summary prospectus should be read
carefully before investing.
ETF Characteristics
The fund lists and principally trades its shares on The NASDAQ
Stock Market LLC.
The fund’s return may not match the return of the Richard
Bernstein Advisors American Industrial Renaissance® Index.
Securities held by the fund will generally not be bought or sold in
response to market fluctuations.
Investors buying or selling fund shares on the secondary market
may incur customary brokerage commissions. Market prices may differ
to some degree from the net asset value of the shares. Investors
who sell fund shares may receive less than the share’s net asset
value. Shares may be sold throughout the day on the exchange
through any brokerage account. However, unlike mutual funds, shares
may only be redeemed directly from the fund by authorized
participants, in very large creation/redemption units.
Risk Considerations
The fund’s shares will change in value, and you could lose money
by investing in the fund. One of the principal risks of investing
in the fund is market risk. Market risk is the risk that a
particular stock owned by the fund, fund shares or stocks in
general may fall in value. There can be no assurance that the
fund’s investment objective will be achieved.
The fund may invest in small capitalization and mid
capitalization companies. Such companies may experience greater
price volatility than larger, more established companies.
The fund invests in industrials companies, financial companies
and community banks. The fund is concentrated in securities of
companies in the industrials sector which involves additional
risks, including limited diversification. General risks of
industrials companies include the general state of the economy,
intense competition, consolidation, domestic and international
politics, excess capacity and consumer demand and spending trends.
In addition, they may be significantly affected by overall capital
spending levels, economic cycles, technical obsolescence, delays in
modernization, labor relations, and government regulations.
Financial companies are especially subject to the adverse
effects of economic recession, currency exchange rates, government
regulation, decreases in the availability of capital, volatile
interest rates, portfolio concentrations in geographic markets and
in commercial and residential real estate loans, and competition
from new entrants in their fields of business. Unlike larger
national or other regional banks that are more geographically
diversified, a community bank’s financial performance may be highly
dependent upon the business environment in certain geographic
regions of the U.S. and may be adversely impacted by any downturn
or unfavorable economic or employment developments in its local
market and the U.S. as a whole.
The fund is classified as “non-diversified” and may invest a
relatively high percentage of its assets in a limited number of
issuers. As a result, the fund may be more susceptible to a single
adverse economic or regulatory occurrence affecting one or more of
these issuers, experience increased volatility and be highly
concentrated in certain issuers.
First Trust Advisors L.P. is the adviser to the fund. First
Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P.,
the fund’s distributor.
The fund is not sponsored, endorsed, sold or promoted by RBA.
RBA makes no representation or warranty, express or implied, to the
owners of the fund or any member of the public regarding the
advisability of trading in the fund. RBA’s only relationship to
First Trust Advisors L.P. (“First Trust”) is the licensing of
certain trademarks and trade names of RBA and of the index, which
is determined, composed and calculated by RBA without regard to
First Trust or the fund. Licensor has no obligation to take the
needs of First Trust or the owners of the fund into consideration
in determining, composing or calculating the index. Licensor is not
responsible for and has not participated in the determination of
the timing of, prices at, or quantities of the fund to be listed or
in the determination or calculation of the equation by which the
fund is to be converted into cash. Licensor has no obligation or
liability in connection with the administration, marketing or
trading of the fund.
First TrustRyan Issakainen, (630)
765-8689RIssakainen@FTAdvisors.com
First Trust RBA American... (NASDAQ:AIRR)
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