The First Trust Utilities AlphaDEX Fund is an exchange-traded index fund or Index ETF that is a non-diversified, exchange-traded series of the First Trust Exchange-Traded AlphaDEX Fund, an open-end management investment company. The First Trust Utilities AlphaDEX Fund seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the StrataQuant Utilities Index (Symbol: STRQUT). INDEX DESCRIPTION: The StrataQuant Utilities Index is a modified equal-dollar weighted index designed by the AMEX to objectively identify and select stocks from the Russell 1000 Index that may generate positive alpha relative to traditional passive style indices through the use of the AlphaDEX screening methodology. Alpha is an indication of how much an investment outperforms or underperforms on a risk-adjusted basis relative to its benchmark. The Russell 1000 Index consists of the 1,000 largest stocks within the Russell 3000 Index. The Russell 3000 Index is constructed to represent approximately 98% of the U.S. market. The initial divisor was created to set a benchmark value of 1000.00 on July 3, 2003. The StrataQuant Utilities Index was created and trademarked by the AMEX on April 11, 2007. As of April 11, 2007, the Russell 1000 Index consisted of 974 stocks and the Utilities Index consisted of 55 stocks.
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