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First Trust ETFs tap Covid-19 drivers for digital and biotech

cyber_securityFirst Trust has launched two “digital mega-trend” ETFs that are themed on cybersecurity and biotechnology.

The two ETFs are driven in part by the current Covid-19 pandemic, as well as broader influences.

Talking about the First Trust Nasdaq Cyber Security Ucits ETF, which tracks the liquidity-weighted Nasdaq CTA Cybersecurity Index, Gregg Guerin, senior product specialist said: “Cyber-crime had already been on the rise but has been greatly accelerated by the Covid-19 crisis pushing millions of people to work remotely, the importance of a secure internet is now, more than ever, absolutely paramount.”

Meanwhile, the First Trust NYSE Arca Biotechnology Ucits ETF measures the performance of a cross-section of companies in the biotechnology industry and Guerin added: “As the world steps-up in the battle to beat Covid-19, the health care sector, especially biotechnology is taking a leading role in providing solutions.”

The biotech strategy tracks the NYSE Biotechnology Index which includes companies developing DNA technology and also businesses working in molecular biology, genetic engineering and genomics.

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