First Trust Dividend Strength ETF(NASDAQ:FTDS)

FTDS tracks a narrow index of US securities selected based on several fundamental criteria and dividend yield. Securities selected must have a long-term debt to market-cap ratio less than 40%, ROE greater than 10%, a 5-year compounded dividend growth rate greater than 5%, and a dividend payout ratio less than 50%. Qualified stocks are then ranked within their respective industry by dividend yield. The top 15 stocks by dividend yield from each industry are evaluated and reranked as a group. The top 50 securities based on dividend yield are selected and equally-weighted. However, the portfolio can become concentrated in an industry or group. The index is rebalanced and reconstituted quarterly. Prior to Apr. 29, 2022 the fund was called First Trust Total US Market AlphaDEX and traded under the ticker TUSA. The fund originally tracked the Value Line index. From Jan. 9, 2015 to Apr. 28, 2022, the fund tracked the NASDAQ AlphaDEX Total US Market Index before changing to the current index.