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ETFs

First Trust Indxx Medical Devices ETF

MDEV
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Jun 22, 2021
Expense Ratio
0.70%
Type
Global Equities
Fund Owner
First Trust
Volume (1m avg. daily)
$5,453
AUM
$1,811,036
Associated Index
Indxx Global Medical Equipment Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

PHIA
Koninklijke Philips N.V.
2.79%
STE
Steris Plc
2.77%
ALC
Alcon Inc. - Registered Shares
2.51%
ISRG
Intuitive Surgical Inc
2.48%
DEMANT
Demant AS
2.41%
BDX
Becton Dickinson & Co.
2.39%
BSX
Boston Scientific Corp.
2.38%
WST
West Pharmaceutical Services, Inc.
2.36%
EXAS
Exact Sciences Corp.
2.31%
MDT
Medtronic Plc
2.29%
Invest with MDEV

What is MDEV?

The First Trust Indxx Medical Devices ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Funds fees and expenses) of an index called the Indxx Global Medical Equipment Index (the "Index"). The Fund will normally invest at least 80% of its net assets (including net assets plus any borrowings for investment purposes) in the common stocks and depositary receipts that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by Indxx, LLC (the "Index Provider").

ETFs related toMDEV

ETFs correlated to MDEV include IHI, XHE, RSPH

MDEV
First Trust Exchange-Traded Fund VI - First Trust Indxx Medical Devices ETF
IHI
BlackRock Institutional Trust Company N.A. - iShares U.S. Medical Devices ETF
XHE
SPDR Series Trust - SPDR S&P Health Care Equipment ETF
RSPH
Invesco Capital Management LLC - Invesco S&P 500 Equal Weight Health Care ETF
CRBN
BlackRock Institutional Trust Company N.A. - iShares MSCI ACWI Low Carbon Target ETF
AOA
BlackRock Institutional Trust Company N.A. - iShares Core Aggressive Allocation ETF
VT
Vanguard Group, Inc. - Vanguard Total World Stock ETF
EFG
BlackRock Institutional Trust Company N.A. - iShares MSCI EAFE Growth ETF
ACWI
BlackRock Institutional Trust Company N.A. - iShares MSCI ACWI ETF
ROBO
Exchange Traded Concepts Trust - ROBO Global Robotics and Automation Index ETF
URTH
BlackRock Institutional Trust Company N.A. - iShares MSCI World ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toMDEV

#PTC

Pick the Trending Commodity

Category

Living With High Inflation, Ride the Momentum

Risk Rating

Moderate

#OPUS-12

Opus-12

Category

Opus, Investing for the Long-Term

Risk Rating

Moderate

Create your own algorithmic trading strategy with MDEV using Composer

News Related to MDEV

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Dec 29, 2023 • by Vandana Singh
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FAQ

MDEV is a Global Equities ETF. The First Trust Indxx Medical Devices ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Funds fees and expenses) of an index called the Indxx Global Medical Equipment Index (the "Index"). The Fund will normally invest at least 80% of its net assets (including net assets plus any borrowings for investment purposes) in the common stocks and depositary receipts that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by Indxx, LLC (the "Index Provider").

MDEV tracks the Indxx Global Medical Equipment Index.

No, MDEV is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, MDEV is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on MDEV is -0.0502%. This is the percent change in the value of MDEV over the most recent 1-month period. The 3-month return on MDEV is -0.1151%. This is the percent change in the value of MDEV over the most recent 3-month period.

The standard deviation of MDEV for the past year is 0.1998%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to MDEV include IXJ, SMH, and URA.

ETFs correlated to MDEV include IHI, XHE, and RSPH.

ETFs that are inversely correlated to MDEV include EPV, EFZ, and SH.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.