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DTEC
Cathie Wood's new competition, First Trust files for Innovation Leaders ETF
with SEC

- Innovation exchange traded funds have been a swelling topic of
discussion, thanks to the spark by Cathie Wood and Ark Invest. First
Trust,
is the latest firm jumping in the tank, filing a preliminary prospectus
with the U.S. Securities Exchange Commission for the First Trust
Innovation
Leaders ETF.
- The objective of the fund will be to achieve long-term capital
appreciation and the ETF will invest the bulk "80%" of its assets into
the
following assets: "Fund will invest its net assets in common stock and
depository receipts issued by U.S. and non-U.S. companies that offer
exposure to emerging opportunities across sectors of innovation. This
includes, but is not limited to, companies that are poised to benefit
from
the development of new products or services, technological improvements
and/or advancements in scientific research related to digital
transformation, advanced medicine, networks, cognitive computing, and
e-commerce." This is in accordance to the fund prospectus.
- With another fund joining the innovation party how are investors to
understand the difference in holdings amongst all these ETFs? Below is a
table with popular innovation-based exchange traded funds where one can
see
the overlaps.


- Differentiating in holdings is an important understanding to investors
and it appears between these eight exchange traded funds the overlapping
in
holding names falls between the 8%-12% range. The key outliers are
between
ARK Innovation ETF: ARKK and Direxion's Moonshot ETF: MOON with only one
name holding overlap representing 0.5% and ProShares MSCI
Transformational
Changes ETF: ANEW and Goldman Sachs Innovate Equity ETF: GINN with a
29.6%
overlap.
- All exchange traded funds discussed in the above innovation table for
investors are as follows: ALPS Disruptive Technologies ETF (BATS:DTEC),
ARK Innovation ETF (NYSEARCA:ARKK), Direxion Moonshot ETF
(NYSEARCA:MOON),
Goldman Sachs Innovate Equity ETF (NYSEARCA:GINN), SPDR FactSet
Innovative Technology ETF (NYSEARCA:XITK), BlackRock Future Innovators
ETF (NYSEARCA:BFTR), SPDR S&P Kensho New Economies Composite ETF
(NYSEARCA:KOMP), ProShares MSCI Transformational Changes ETF (NYSEARCA:
ANEW).
- Some further news in the innovation exchange traded fund space worth
examining is the 3.4M Palantir: PLTR shares added by Cathie Wood's
ARK Investment.





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