First Trust Dorsey Wright People's Portfolio ETF
DWPP
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- First Trust Dorsey Wright People's Portfolio ETF (DWPP) is an exchange-traded fund that seeks investment results tracking the Nasdaq Dorsey Wright People's Portfolio Index by investing at least 80% of its net assets in the common stocks or exchange-traded funds comprising the index; the index applies Dorsey Wright's proprietary relative strength methodology to identify a portfolio of approximately 100 U.S.-listed stocks with the highest relative price strength across various sectors and industries. The fund primarily focuses on large-cap equities, with holdings concentrated in diversified U.S. companies exhibiting strong momentum characteristics; it offers investors exposure to a systematically selected equity portfolio emphasizing relative performance rather than traditional market-cap weighting. First Trust Exchange-Traded Fund III serves as the issuer, with First Trust Advisors L.P., founded in 1991 and headquartered in Wheaton, Illinois, acting as the investment adviser in collaboration with Nasdaq Dorsey Wright for index methodology. Geographically, DWPP targets U.S.-listed securities, providing broad domestic large-cap equity exposure with minimal international components of approximately 1.45%; its target customers include individual investors, financial advisors, and institutions seeking momentum-driven equity strategies within a low-cost ETF structure with an expense ratio of 0.60%. The ETF launched on August 29, 2012, but has since been terminated, with its fund page on the First Trust website explicitly stating "The requested fund is terminated" and no current news or literature available; as of the latest available data prior to closure, it maintained a small asset base of approximately $4 million, paid modest dividends yielding around 0.58% annually, and categorized under size/style with a volatility-hedged broad-based large-cap focus. No recent partnerships, acquisitions, funding rounds, new product launches, or strategic expansions were identified for DWPP in the last 1-2 years, consistent with its terminated status; historical performance reflected challenges, including negative returns such as -24% YTD and -21.45% over one year in pre-termination metrics.