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First Trust Floats Smartphone ETF
First Trust has launched a new exchange-traded fund to offer pure play exposure to companies engaged in the smartphone segment.
First Trusthas launched a new exchange-traded fund (ETF) to offer pure play exposure to companies engaged in the smartphone segment,The Wall Street Journalreports. TheFirst Trust NASDAQ CEA Smartphone Index Fundwill have an expense ratio of 0.7% of assets.
The fund is linked to a modified equal dollar weighted index that includes companies involved in the building, design, and distribution of the handsets, hardware, software and mobile networks associated with the development, sale, and usage of smartphones, adds内部业务r. The company has started trading the portfolio on theNasdaq Stock Market.
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