MOON - Cathie Wood's new competition First Trust files for Innovation Leaders ETF with SEC

Innovation exchange traded funds have been a swelling topic of discussion, thanks to the spark by Cathie Wood and Ark Invest. First Trust, is the latest firm jumping in the tank, filing a preliminary prospectus with the U.S. Securities Exchange Commission for the First Trust Innovation Leaders ETF.The objective of the fund will be to achieve long-term capital appreciation and the ETF will invest the bulk “80%” of its assets into the following assets: “Fund will invest its net assets in common stock and depository receipts issued by U.S. and non-U.S. companies that offer exposure to emerging opportunities across sectors of innovation. This includes, but is not limited to, companies that are poised to benefit from the development of new products or services, technological improvements and/or advancements in scientific research related to digital transformation, advanced medicine, networks, cognitive computing, and e-commerce.” This is in accordance to the fund prospectus.With another fund joining the innovation

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Cathie Wood’s new competition, First Trust files for Innovation Leaders ETF with SEC