First Trust Nasdaq Retail ETF Announces Timing of Changes to Investment Objective, Fund Name and Ticker Symbol

Rhea-AI Summary

First Trust Nasdaq Retail ETF (FTXD) announced a significant shift, effective January 26, 2022. The Fund will change its investment objective to align with the S-Network Global E-Commerce Index, replacing the Nasdaq US Smart Retail Index. This New Index includes around 60 securities focused on the global e-commerce industry. Additionally, the Fund will be renamed to First Trust S-Network E-Commerce ETF and adopt a new ticker symbol, ISHP. First Trust Advisors L.P. serves as the investment adviser, managing assets totaling approximately $223 billion as of December 31, 2021.

Positive

• Transition to S-Network Global E-Commerce Index may capture growth in e-commerce sectors.
• Increased focus on a dedicated e-commerce index aligns with market trends.

Negative

• None.

WHEATON, Ill.--(BUSINESS WIRE)-- First Trust Nasdaq Retail ETF (Nasdaq: FTXD) (the “Fund”), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund VI (the “Trust”), previously announced changes to its investment objective, the Fund’s name and its ticker symbol. Effective January 26, 2022, 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 S-Network Global E-Commerce 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 equity index called the Nasdaq US Smart Retail Index. The New Index will be composed of approximately 60 securities issued by companies that are principally engaged in the global e-commerce industry, including the online retail, online marketplace, content navigation, and e-commerce infrastructure business segments. Also effective January 26, 2022, the Fund’s name will change to First Trust S-Network E-Commerce ETF. The Fund’s shares will continue to be listed for trading on The Nasdaq Stock Market LLC under a new ticker symbol, ISHP, and the Fund’s CUSIP will remain 33738R829. The New Index was developed and is owned, maintained and sponsored by S-Network Global Indexes Inc. or its affiliates (collectively, “S-Network”).

First Trust Advisors L.P. (“FTA”), the Fund’s investment adviser, is a federally registered investment advisor and serves as the Fund’s investment advisor. FTA and its affiliate First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately $223 billion as of December 31, 2021 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts. FTA is the supervisor of the First Trust unit investment trusts, while FTP is the sponsor. FTP is also a distributor of mutual fund shares and exchange-traded fund creation units. FTA and FTP are based in Wheaton, Illinois.

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. S-Network and S-Network Global E-Commerce Index are service marks of S-Network and have been licensed for use by FTA. The Fund is not issued, sponsored, endorsed, sold or promoted by S-Network. S-Network makes no representation or warranty, express or implied, to the purchasers or owners of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly or the ability of the Index to track general market performance. S-Network’s only relationship to the Fund is the licensing of the service marks and the Index, which is determined, composed and calculated by S-Network without regard to FTA or the Fund. S-Network has no obligation or liability in connection with the issuance, administration, marketing or trading of the Fund.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220121005423/en/

Press Inquiries:

Ryan Issakainen 630-765-8689

Analyst Inquiries:

Stan Ueland 630-517-7633

Source: First Trust Nasdaq Retail ETF

FAQ

What is the new name of the First Trust Nasdaq Retail ETF after January 26, 2022?

The new name will be First Trust S-Network E-Commerce ETF.

What changes are being made to the investment objective of the FTXD ETF?

The investment objective will shift to the S-Network Global E-Commerce Index.

What is the new ticker symbol for the First Trust Nasdaq Retail ETF?

The new ticker symbol will be ISHP effective January 26, 2022.

How many securities will be included in the new S-Network Global E-Commerce Index?

The new index will be composed of approximately 60 securities.

Who manages the First Trust Nasdaq Retail ETF?

First Trust Advisors L.P. serves as the investment adviser for the Fund.