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ETFs

First Trust Exchange-Traded Fund VI Mid Cap US Equity Select ETF

RNMC
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Jun 20 2017
Expense Ratio
0.60%
Type
US Equities
Fund Owner
First Trust
Volume (1m avg. daily)
$419,645
AUM
$17,894,555
Associated Index
Nasdaq Riskalyze US Mid Cap Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
No
Prospectus
View

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Invest with RNMC

What is RNMC?

The Mid Cap US Equity Select ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Funds fees and expenses) of an equity index called the Nasdaq Riskalyze Mid Cap US Equity Select Index (the "Index"). The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Funds investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Funds performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Nasdaq Riskalyze US Mid Cap Index is a modified market capitalization weighted index which seeks to provide a diversified portfolio of dividend-paying US mid cap securities.

ETFs related toRNMC

ETFs correlated to RNMC include SPMD, IVOO, MIDU

RNMC
First Trust Exchange-Traded Fund III - First Trust Mid Cap US Equity Select ETF
SPMD
SPDR Series Trust - SPDR Portfolio S&P 400 Mid Cap ETF
IVOO
Vanguard Group, Inc. - Vanguard S&P Mid-Cap 400 ETF
MIDU
Direxion Shares ETF Trust - Direxion Daily Mid Cap Bull 3x Shares
IJH
BlackRock Institutional Trust Company N.A. - iShares Core S&P Mid-Cap ETF
GRPM
Invesco Capital Management LLC - Invesco S&P MidCap 400 GARP ETF
MDY
State Street Global Advisors - S&P MidCap 400 ETF
VBR
Vanguard Group, Inc. - Vanguard Small Cap Value ETF
IVOV
Vanguard Group, Inc. - Vanguard S&P Mid-Cap 400 Value ETF
IJJ
BlackRock Institutional Trust Company N.A. - iShares S&P Mid-Cap 400 Value ETF
JHMM
John Hancock Investment Management LLC - John Hancock Multifactor Mid Cap ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toRNMC

#PTAC

Pick the Trending Asset Class

Category

Momentum, Tactical Asset Allocation, Be Risk Aware, Ride the Momentum

Risk Rating

Moderate

#EMH

Emerging Markets with a Bond Hedge

Category

Momentum, Be Risk Aware, Diversification

Risk Rating

Aggressive

Create your own algorithmic trading strategy with RNMC using Composer

FAQ

RNMC is a US Equities ETF. The Mid Cap US Equity Select ETF (the "Fund") seeks investment results that correspond generally to the price and yield (before the Funds fees and expenses) of an equity index called the Nasdaq Riskalyze Mid Cap US Equity Select Index (the "Index"). The Fund will normally invest at least 90% of its net assets (including investment borrowings) in common stocks that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Funds investment advisor seeks a correlation of 0.95 or better (before fees and expenses) between the Funds performance and the performance of the Index; a figure of 1.00 would represent perfect correlation. The Nasdaq Riskalyze US Mid Cap Index is a modified market capitalization weighted index which seeks to provide a diversified portfolio of dividend-paying US mid cap securities.

RNMC tracks the Nasdaq Riskalyze US Mid Cap Index.

No, RNMC is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, RNMC is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on RNMC is -0.018%. This is the percent change in the value of RNMC over the most recent 1-month period. The 3-month return on RNMC is -0.0011%. This is the percent change in the value of RNMC over the most recent 3-month period.

The standard deviation of RNMC for the past year is 0.1946%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to RNMC include VIG, VYM, and DFAS.

ETFs correlated to RNMC include SPMD, IVOO, and MIDU.

ETFs that are inversely correlated to RNMC include TZA, TWM, and RWM.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.