The First Trust ETF seeks to replicate, to the extent possible, the performance of a total return U.S. equities industry sector rotational index, net of expenses. Currently, the First Trust ETF seeks to replicate the performance of the Dorsey Wright® U.S. Sector Focus Five Index, net of expenses and will generally seek to hedge substantially all of its U.S. dollar currency exposure back to the Canadian dollar. The First Trust ETF will invest in and hold the Constituent Securities of the Index in the same proportion as they are reflected in the Index. The Index will consist of an equal weighted basket of ETFs that provide exposure to a variety of industry sectors in the U.S. equity markets and may provide exposure to U.S. cash equivalents.