WHEATON, Ill.--(BUSINESS WIRE)--First Trust Nasdaq Smartphone Index Fund (Nasdaq: FONE) (the “Fund”), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund II (the “Trust”), announced today that the Board of Trustees (“Board”) of the Trust has approved changes to the Fund’s investment objective. On or around May 29, 2019, the Fund will seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Indxx 5G & NextG Thematic Index (the “New Index”). Currently, the Fund seeks investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the Nasdaq CTA Smartphone Index. The New Index is expected to be composed of up to 100 securities issued by companies that have devoted, or have committed to devote, material resources to the research, development and application of fifth generation (5G) and next generation cellular technologies.
Additionally, on or around May 29, 2019, the Fund’s name is expected to change to First Trust Indxx NextG ETF. The Fund will continue to list and trade its shares on the Nasdaq Stock Market LLC under the ticker symbol FONE until May 29, 2019, at which time it is anticipated that the Fund will list and trade its shares on the Nasdaq Stock Mark LLC under the ticker symbol “NXTG.” The Fund will obtain a new CUSIP and other identifiers. The New Index was developed, maintained and sponsored by Indxx, LLC.
First Trust Advisors L.P., (“FTA”), the Fund’s investment advisor, along with its affiliate, First Trust Portfolios L.P., are privately-held companies which provide a variety of investment services, including asset management and financial advisory services, with collective assets under management or supervision of approximately $126 billion as of February 28, 2019 through unit investment trusts, exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.
You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. Contact First Trust portfolios L.P. at 1-800-621-1675 or visit www.ftportfolios.com to obtain a prospectus or summary prospectus which contains this and other information about the Fund.
The New Index has been licensed for use by the Fund. Indxx, LLC and Indxx 5G & NextG Thematic Index are trademarks of Indxx, LLC and have been licensed for use for certain purposes by FTA. First Trust Indxx NextG ETF is based on the 5G & NextG Thematic Index and is not sponsored, endorsed, sold or promoted by Indxx, LLC, and Indxx, LLC makes no representations regarding the advisability of trading in such product.
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, FTA is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. FTA has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. FTA believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.