About First Trust Nasdaq-100 Equal Weighted Index ETF
The First Trust NASDAQ-100 Equal Weighted Index Fund is an exchange-traded index fund. The investment objective of the Fund is to replicate as closely as possible, before fees and expenses, the price and yield of the NASDAQ-100 Equal Weighted Index. The index consists of companies in the NASDAQ-100 Index. The index is reconstituted once a year in December, but replacements may be made during the year if there's a replacement in the NASDAQ-100 Index. The index is an equal weighted index and is rebalanced four times annually in March, June, September and December. The index contains the same securities as the NASDAQ-100 Index but each of the securities is initially set at a weight of 1.00% of the index and is rebalanced quarterly. The NASDAQ-100 Index includes 100 of the largest non-financial securities listed on Nasdaq. The equal weighting allows for smaller company performance to contribute as much as the large companies within the Index.