First Trust Active Factor Emerging Markets ETF
AFEM
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- First Trust Active Factor Emerging Markets ETF (formerly First Trust RiverFront Dynamic Emerging Markets ETF) is an actively managed exchange-traded fund that seeks capital growth by investing primarily in securities of emerging market companies and, following its September 14, 2026 conversion, applies a multi-factor quantitative strategy emphasizing value, momentum, quality, and low volatility. The fund is sponsored by First Trust Advisors L.P., headquartered in Wheaton, Illinois, and is a series of First Trust Exchange-Traded Fund III, a Massachusetts business trust organized in 2008; First Trust was founded in 1991. The fund’s core offering is an ETF portfolio that provides exposure to emerging-market equities through a systematic, factor-based process, with the revised policy requiring at least 80% of net assets, plus borrowings for investment purposes, in securities of emerging market companies. Prior to the conversion, the fund followed a dynamic emerging-markets approach that could hedge currency exposure; after the change, it no longer uses that sub-advised dynamic strategy and instead is managed by members of the First Trust Investment Committee without a sub-advisor. The latest major changes include a name change from First Trust RiverFront Dynamic Emerging Markets ETF to First Trust Active Factor Emerging Markets ETF, a ticker change from RFEM to AFEM, a revised investment mandate, and a reduction in the annual unitary management fee from 0.95% to 0.85%. The conversion took effect on or around September 14, 2026, following First Trust’s July 2026 announcement of the strategic overhaul. The fund serves investors seeking emerging-markets equity exposure through an ETF structure, with operations and product support tied to First Trust’s U.S. platform. First Trust Advisors L.P. operates from Wheaton, Illinois, and the broader First Trust organization provides investment products and advisory services across exchange-traded funds and related vehicles.