First Trust Developed International Equity Select ETF
RNDM
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- First Trust Developed International Equity Select ETF (RNDM) is an exchange-traded fund that tracks the Nasdaq Riskalyze Developed Markets Index, providing exposure to low-volatility equities from developed markets excluding the United States. The fund invests at least 90% of its net assets in common stocks, depositary receipts, preferred shares, and real estate investment trusts comprised in the index; securities are selected from the NASDAQ Developed Markets Ex-US Large Mid Cap Index and grouped by country, ranked by trailing 12-month volatility, with weighting applied via a tiered methodology of market-cap followed by modified equal weights within tiers. Top holdings include Daiwa House Industry Co Ltd, Takeda Pharmaceutical Co Ltd, McDonald's Holdings Co (Japan) Ltd, Sekisui House Ltd, and Orica Ltd, spanning sectors such as finance, health technology, consumer non-durables, and transportation across regions including Europe (primarily Switzerland, France, United Kingdom, Germany), Asia Pacific (Japan, Australia, South Korea), and North America (Canada). Launched on June 20, 2017, and domiciled in the United States with First Trust Advisors L.P. as investment advisor, the ETF operates globally ex-U.S. with approximately 428 holdings, a net expense ratio of 0.65%, and assets under management of around $20 million as of recent data; it targets institutional and retail investors seeking reduced volatility in international developed equity portfolios. In a significant operational change, First Trust announced the liquidation and delisting of RNDM in June 2023, with trading ceasing on June 20, 2023, and final liquidation on or around June 28, 2023, following a Board of Trustees determination that closure was in shareholders' best interests due to low assets; despite some data platforms showing residual quotes or holdings into 2025, the fund is no longer actively trading or operational.