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ETFs

First Trust Indxx Medical Devices ETF

MDEV
$--
Today’s Change
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Snapshot
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Inception Date
Jun 22 2021
Expense Ratio
0.70%
Type
Global Equities
Fund Owner
First Trust
Volume (1m avg. daily)
$4,256
AUM
$1,957,039
Associated Index
Indxx Global Medical Equipment Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

EXAS
Exact Sciences Corp.
3.73%
ALGN
Align Technology, Inc.
2.77%
FPH
Fisher & Paykel Healthcare Corporation Limited
2.55%
STMN
Straumann Holding AG
2.50%
PODD
Insulet Corporation
2.43%
COO
Cooper Companies, Inc.
2.38%
WST
West Pharmaceutical Services, Inc.
2.32%
AMP
AMPLIFON SPA
2.27%
MASI
Masimo Corp
2.26%
SYK
Stryker Corp.
2.25%
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, RYH, XHE

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
RYH
Invesco Capital Management LLC - Invesco S&P 500 Equal Weight Health Care ETF
XHE
SPDR Series Trust - SPDR S&P Health Care Equipment ETF
FXH
First Trust Exchange-Traded Fund III - First Trust Health Care AlphaDEX Fund
BIBL
Northern Lights Fund Trust IV - Inspire 100 ETF
ROBO
Exchange Traded Concepts Trust - ETCT ROBO Global Robotics and Automation Index ETF
CRBN
BlackRock Institutional Trust Company N.A. - iShares MSCI ACWI Low Carbon Target ETF
EUSA
BlackRock Institutional Trust Company N.A. - iShares MSCI USA Equal Weighted ETF
IMCG
BlackRock Institutional Trust Company N.A. - iShares Morningstar Mid-Cap Growth ETF
AOA
BlackRock Institutional Trust Company N.A. - iShares Core Aggressive Allocation 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.

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 -0.0369%. This is the percent change in the value of MDEV over the most recent 1-month period. The 3-month return on MDEV is %. 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 0.2641%. 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 GDXJ, IXN, and SMH.

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

ETFs that are inversely correlated to MDEV include SPXU, SDS, and SPXS.

Disclaimers

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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.