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.