Illinois-based ETF issuer, First Trust has launched the First Trust Mega Cap AlphaDex Fund, Index Universe reports. The new product is based on options prices for the Defined Mega Cap Index. The ETF’s five holdings, which occupies from 3.73% to 3.31% of the portfolio each, are Intel, Baker Hughes, Eli Lilly, Caterpillar and Chevron. The ETF is an equity fund focused on mega-cap U.S. stocks.

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