First Trust Dorsey Wright Momentum & Low Volatility ETF
DVOL
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- First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is an exchange-traded fund that seeks investment results tracking the Dorsey Wright Momentum Plus Low Volatility Index, comprising 50 large- and mid-cap U.S. stocks selected from the NASDAQ US Large Mid Cap Index based on high relative strength momentum and low historical volatility; holdings are weighted inversely by volatility. The ETF, managed by First Trust Advisors L.P., provides exposure to a diversified portfolio across sectors including financials, healthcare, industrials, consumer staples, and technology, with top holdings such as Arthur J. Gallagher & Co., The Travelers Companies, Inc., Visa Inc., and Microsoft Corp.; it pays quarterly dividends with a trailing yield of approximately 0.80% and maintains a net expense ratio of 0.60%. Launched on September 5, 2018, and listed on Nasdaq, the fund had assets under management of about $75 million as of late 2025 and targets investors seeking equity returns with reduced downside volatility. First Trust Advisors L.P., the investment adviser, and its affiliate First Trust Portfolios L.P., the distributor, operate from headquarters in Wheaton, Illinois, with additional offices in Austin, Texas, and Franklin, Tennessee; founded in 1991, the firm offers a broad suite of investment products including exchange-traded funds, unit investment trusts, mutual funds, closed-end funds, and separately managed accounts primarily to brokerage firms, registered investment advisors, institutions, and individual investors across the United States. Recent developments include regular quarterly distributions declared by First Trust Advisors L.P. for DVOL and 155 other ETFs in December 2025, reflecting ongoing portfolio income generation; the ETF continues to feature in First Trust's expanding lineup of Dorsey Wright strategy funds, with no reported mergers, acquisitions, or major strategic shifts specific to DVOL in 2024-2025. The fund maintains its focus on momentum-plus-low-volatility methodology amid stable market conditions, with assets fluctuating around $68-88 million and share prices trading between $31.30 and $36.62 over the past year. Operations remain centered in the U.S. equity markets, with minimal non-U.S. exposure of about 2.5%.