First Trust Dorsey Wright International Focus 5 ETF (IFV) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield performance, before fees and expenses, of the Nasdaq Dorsey Wright International Focus Five Index. The fund normally invests at least 90% of its net assets in exchange-traded funds (ETFs) that comprise the index, which tracks the stock price performance of the five highest relative strength first trust international ETFs representing developed and emerging market equities. Core holdings include First Trust China AlphaDEX Fund (FCA), First Trust Eurozone AlphaDEX ETF (FEUZ), First Trust Germany AlphaDEX Fund (FGM), First Trust United Kingdom AlphaDEX Fund (FKU), and First Trust Dow Jones International Internet ETF (FDNI); the fund targets large- and mid-cap blend stocks across foreign large blend markets in regions such as Europe, Asia, and emerging economies. It operates globally with exposure to developed markets (excluding the U.S.) and emerging markets across 22 developed countries and 24 emerging countries, including key trading partners like China, the United Kingdom, Switzerland, France, and Germany. Launched on July 23, 2014, and listed on Nasdaq, the ETF is managed by First Trust Advisors L.P., headquartered at 120 East Liberty Drive, Suite 400, Wheaton, Illinois 60187, with a total expense ratio of 1.09% (0.30% management fee plus 0.79% acquired fund fees). Recent developments include a quarterly distribution declaration of $0.1502 per share announced on December 11, 2025, by First Trust Advisors L.P. for 156 ETFs including IFV, reflecting ongoing income focus amid managed assets of approximately $196.8 million and shares outstanding of 9,450,000 as of late 2025. The fund maintains its momentum-based relative strength strategy with no reported acquisitions, partnerships, or structural changes in the last 1-2 years, continuing to emphasize non-U.S. equity sectors like internet, financials, and industrials through its underlying ETFs.