First Trust Advisors launch ETFs on NYSE

After launching 17 exchange traded funds on the American Stock Exchange yesterday, First Trust Advisors LP today moved over to the New York Stock Exchange to list three more funds. The funds—First Trust ISE ChIndia Index Fund, First Trust ISE-Revere Natural Gas Index Fund and First Trust ISE Water Index Fund—seek to track the performance of indexes developed by the International Securities Exchange Holdings Inc. in consultation with New York-based Standard & Poor's. The First Trust ISE ChIndia Index Fund (FNI) is a modified market capitalization weighted portfolio of 50 stocks that is a benchmark for investors interested in the share performance of companies from China and India. The First Trust ISE-Revere Natural Gas Index Fund (FCG) is a modified market capitalization weighted portfolio of 30 stocks that derive a substantial portion of their revenues from the exploration and production of natural gas. The First Trust ISE Water Index Fund (FIW) is a modified market-cap weighted portfolio of 36 stocks that derive a substantial portion of their revenues from the potable and wastewater industries. Each of the funds carries a 0.6% expense ratio. Lisle, Ill.-based First Trust now manages 32 funds with $30 billion in assets.