IFV is an alpha-seeking international country rotation ETF-of-ETFs. Starting with the First Trust single-country/region ETF universe, IFV uses a Dorsey Wright relative-strength model to construct a focused portfolio consisting of only five equally weighted international ETFs. The model uses momentum as its key input, while the underlying ETFs use the complex AlphaDEX portfolio construction model. The end product is a momentum-based country rotation portfolio with non-vanilla exposure to the selected markets. The index is reconstituted and rebalanced bi-monthly. Due to this, the fund may experience a higher portfolio turnover.
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