First Trust Dorsey Wright Dynamic Allocation ETF(DALI)

First Trust Dorsey Wright Dynamic Allocation ETF is an exchange-traded fund that seeks investment results corresponding generally to the price and yield of the Nasdaq Dorsey Wright DALI Equity Index, before fees and expenses. It invests at least 90% of its net assets in securities comprising the index, which dynamically allocates across asset classes based on relative strength momentum, selecting the highest-ranked sleeve among U.S. equity and international equity. The U.S. equity sleeve includes core holdings like First Trust Large Cap Growth AlphaDEX and Small Cap Growth AlphaDEX, plus tactical holdings from the Dorsey Wright Focus Five Index, while the international sleeve features First Trust Developed Markets ex-US AlphaDEX, Emerging Markets AlphaDEX, and international Focus Five holdings, all equally weighted within categories. This momentum-driven approach emphasizes asset classes showing the strongest recent price performance for potential near-term outperformance, operating in the smart beta space with a focus on tactical allocation. The ETF provides investors exposure to a rules-based, quantitatively enabled strategy across global equities, adapting to bullish environments by concentrating in top-performing sleeves, rebalanced semi-monthly except monthly in December.