First Trust Nasdaq Smartphone Index Fund Announces Changes to Investment Objective, Fund Name and Ticker Symbol
March 12 2019 - 4:27PM
Business Wire
First Trust Nasdaq Smartphone Index Fund (Nasdaq: FONE) (the
“Fund”), an exchange-traded index fund and a series of First Trust
Exchange-Traded Fund II (the “Trust”), announced today that the
Board of Trustees (“Board”) of the Trust has approved changes to
the Fund’s investment objective. On or around May 29, 2019, the
Fund will seek investment results that correspond generally to the
price and yield (before the Fund’s fees and expenses) of an index
called the Indxx 5G & NextG Thematic Index (the “New Index”).
Currently, the Fund seeks investment results that correspond
generally to the price and yield (before the Fund’s fees and
expenses) of an index called the Nasdaq CTA Smartphone Index. The
New Index is expected to be composed of up to 100 securities issued
by companies that have devoted, or have committed to devote,
material resources to the research, development and application of
fifth generation (5G) and next generation cellular
technologies.
Additionally, on or around May 29, 2019, the Fund’s name is
expected to change to First Trust Indxx NextG ETF. The Fund will
continue to list and trade its shares on the Nasdaq Stock Market
LLC under the ticker symbol FONE until May 29, 2019, at which time
it is anticipated that the Fund will list and trade its shares on
the Nasdaq Stock Mark LLC under the ticker symbol “NXTG.” The Fund
will obtain a new CUSIP and other identifiers. The New Index was
developed, maintained and sponsored by Indxx, LLC.
First Trust Advisors L.P., (“FTA”), the Fund’s investment
advisor, 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 $126 billion as of February 28, 2019 through unit
investment trusts, exchange-traded funds, closed-end funds, mutual
funds and separate managed accounts.
You should consider the Fund’s investment objectives, risks,
charges and expenses carefully before investing. Contact First
Trust portfolios L.P. at 1-800-621-1675 or visit
www.ftportfolios.com to obtain a prospectus or summary prospectus
which contains this and other information about the Fund.
The New Index has been licensed for use by the Fund. Indxx, LLC
and Indxx 5G & NextG Thematic Index are trademarks of Indxx,
LLC and have been licensed for use for certain purposes by FTA.
First Trust Indxx NextG ETF is based on the 5G & NextG Thematic
Index and is not sponsored, endorsed, sold or promoted by Indxx,
LLC, and Indxx, LLC makes no representations regarding the
advisability of trading in such product.
The information presented is not intended to constitute an
investment recommendation for, or advice to, any specific person.
By providing this information, FTA is not undertaking to give
advice in any fiduciary capacity within the meaning of ERISA and
the Internal Revenue Code. FTA has no knowledge of and has not been
provided any information regarding any investor. Financial advisors
must determine whether particular investments are appropriate for
their clients. FTA believes the financial advisor is a fiduciary,
is capable of evaluating investment risks independently and is
responsible for exercising independent judgment with respect to its
retirement plan clients.
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