First Trust New Constructs Core Earnings Leaders ETF (FTCE)

The First Trust New Constructs Core Earnings Leaders ETF (FTCE) is a First Trust exchange-traded fund that seeks to track the New Constructs Core Earnings Leaders Index.

The index draws on research from New Constructs, a firm that analyzes the footnotes and financial filings of public companies to calculate what it calls core earnings, an adjusted measure intended to strip out unusual items and accounting distortions. The index selects U.S. companies that score well on the quality of their core earnings and on valuation relative to those earnings. The fund holds these U.S. equities in a passive, rules-based portfolio.

The index is reconstituted periodically.