First Trust Dow Jones Internet Index Fund (FDN) is an exchange-traded fund that tracks the Dow Jones Internet Composite Index, providing investors with exposure to the largest and most liquid U.S. internet companies across sectors including information technology, communication services, and consumer discretionary. The fund employs a full replication technique to hold a portfolio of approximately 41 stocks, with top holdings such as Amazon.com Inc. (10.34%), Meta Platforms Inc. (8.98%), Netflix Inc. (7.75%), Alphabet Inc. (Class A and Class C combined at 13.53%), and Cisco Systems Inc. (6.09%); other notable positions include Salesforce Inc., Booking Holdings Inc., Arista Networks Inc., and DoorDash Inc. It targets growth and value stocks of companies operating in internet services, infrastructure, software, IT services, e-commerce, online advertising, streaming media, and related areas, serving institutional and retail investors seeking sector-specific equity exposure.
Launched on June 19, 2006, FDN is managed by First Trust Advisors L.P., a federally registered investment advisor with approximately $304 billion in collective assets under management as of October 31, 2025, and is domiciled in the United States with headquarters operations based in Wheaton, Illinois. Shares trade on the Nasdaq exchange, with a net expense ratio of 0.49% and total net assets exceeding $6.94 billion.
In recent developments, First Trust Advisors announced quarterly distributions for various exchange-traded funds, including related strategies, in December 2024 and December 2025, reflecting ongoing income-focused enhancements amid stable fund operations. The firm also conducted trustee elections and re-elections in August 2025 and earlier in 2025, alongside new board and audit committee appointments in March 2024, strengthening governance oversight. No major acquisitions, funding rounds, or strategic shifts specific to FDN have been reported within the last 1-2 years, maintaining its focus on index replication without significant portfolio or operational changes.