First Trust US Equity Opportunities ETF (FPX) Stock Price, Quote, News & History | Benzinga

The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by IPOX Schuster LLC (the Index Provider). Solactive serves as the index calculation agent. It is the sole responsibility of the Index Provider to decide on all matters relating to the Index methodology and Index constituent selection. The Index Provider may make exceptions to the Index methodology regarding constituent inclusion, exclusion and weighting. The Index seeks to measure the performance of equity securities of the 100 typically largest and most liquid initial public offerings (IPOs) (including spin-offs and equity carve-outs) of U.S. companies. An IPO is a public offering in which the shares of stock in a company are sold to the general public for the first time on an exchange. The Index measures the performance of a companys equity securities for the 1,000 trading days following its IPO. According to the Index Provider, a company is eligible for inclusion in the Index on the close of the 6th trading day following its IPO and is eligible to remain in the Index until the close of the 1,000th trading day. The IPOX Global Composite Index (the Base Index) serves as the initial universe for the Index. The Base Index is a market capitalization-weighted index which seeks to provide exposure to the aftermarket performance of the U.S. IPO market. Securities must meet the size and float standards of the Index. Additionally, companies that experience abnormally large underpricing in their IPO are not eligible for inclusion in the Base Index. According to the Index Provider, the Index is selected by first excluding all securities comprising the Base Index that are issued by non-U.S. companies. The remaining securities are then ranked according to market capitalization. The 100 securities with the largest market capitalizations are included in the Index. While the Index is market-capitalization weighted, individual securities are capped at a weight of 10%. The Index may contain the securities of small, mid and large capitalization companies.