Deutsche Bank Parts Ways With First Trust
The First Trust DB Strategic Value Index Fund (NYSE: FDV) has performed admirably since its debut three years ago, but has netted only $45 million in assets and the latter may be why Deutsche Bank is terminating its relationship with First Trust in June 2010.
That means the ETF will have to find a new underlying index to follow. FDV tracks stocks that are perceived to be undervalued. Top holdings include Chevron (NYSE: CVX), Pfizer (NYSE: PFE) and Microsoft (NYSE: MSFT).
FDV also suffers from light trading volume, averaging less than 16,200 shares per day.
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