First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund(NASDAQ:GRID)

GRID is concentrated fund targeting global equities determined to be in the smart grid and electrical energy infrastructure sector as determined by Clean Edge. The fund includes companies that are either Pure Play more than 50% revenues or Diversified less than 50% revenues are derived from the smart grid and electrical energy infrastructure sector. The sector may include business in electric grid, electric meters and devices, networks, energy storage and management, and enabling software. GRID also screens for minimum liquidity and market cap. To enhance exposure to the smart grid market, the index provider uses a tiered weighting scheme. Securities are initially market cap weighted. Then a collective weight of 80% for Pure Play and 20% for Diversified are allocated. The Index is reconstituted semi-annually and rebalanced quarter.