First Trust Indxx Medical Devices ETF
MDEV
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- First Trust Indxx Global Medical Devices ETF (MDEV) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield, before the fund's fees and expenses, of the Indxx Medical Devices Index, which tracks the performance of companies associated with the global medical devices and equipment industry. The fund provides equal-weighted exposure to a diversified portfolio of medical device companies, including manufacturers and developers of diagnostic equipment, surgical instruments, orthopedic devices, imaging systems, patient monitoring tools, and related medical technologies; top holdings feature firms such as Globus Medical Inc., Boston Scientific Corp., Edwards Lifesciences Corp., and Insulet Corp., spanning approximately 50 securities with significant allocations to U.S., European, Japanese, and Australasian issuers. Launched on June 22, 2021, and listed on the Cboe BZX Exchange, the ETF is managed by First Trust Advisors L.P., headquartered in Wheaton, Illinois, with assets under management of approximately $2.05 million and a net expense ratio of 0.70%. The fund concentrates its investments in the healthcare sector, particularly medical equipment and devices, targeting large-, mid-, and small-cap companies across developed markets globally, including about 64% U.S. equities, 35% non-U.S. stocks from Europe ex-Eurozone, Eurozone, Japan, and Australasia, and minimal cash holdings. It serves investors seeking thematic exposure to innovation in medical technologies without direct stock selection, employing a passive indexing strategy licensed from Indxx, Inc. Recent developments include the release of the annual report for the fiscal year ended March 31, 2025, alongside semi-annual financial statements for the period ended September 30, 2024, reflecting ongoing portfolio adjustments and performance disclosures. First Trust announced upcoming trustee elections for ETFs including MDEV on May 13, 2025, following prior board and audit committee appointments in March 2024 and new trustee designations in September 2023. No major acquisitions, funding rounds, product launches, or strategic shifts specific to MDEV have been reported in the last 1-2 years, with operations remaining focused on index replication amid standard governance updates.