First Trust Exchange-Traded Fund VI US Equity Dividend Select ETF
Top 10 Holdings
What is RNDV?
The US Equity Dividend Select ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Funds fees and expenses) of an equity index called the Nasdaq Riskalyze US Equity Dividend Select Index (the "Index"). The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Funds investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Funds performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Nasdaq Riskalyze US Large Cap Select Dividend Index is a modified market capitalization weighted index which seeks to provide a diversified portfolio of dividend-paying securities with above average yield.
ETFs related toRNDV
ETFs correlated to RNDV include JVAL, VLUE, QDF
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.
Create your own algorithmic trading strategy with RNDV using Composer
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.