First Trust Nasdaq Bank ETF(NASDAQ:FTXO)

FTXO invests in liquid US banking companies, ranked and weighted by their volatility, value, and growth factors. The fund selects the 30 most liquid banking stocks, including companies involved in financial services, retail banking, loans, and transactions. These stocks are ranked based on their trailing one-year volatility, cash flow to price, and their average three-, six-, nine-, and twelve-month price returns, and weighted according to their respective scores. No single constituent can hold more than 8% of the total holdings. The index undergoes annual reconstitution and quarterly rebalance.