In Brief: First Trust Starts a Sixth ETF on the Amex

First Trust Advisors said Tuesday that it had introduced its sixth exchange-traded portfolio - First Trust DB Strategic Value Index Fund - on the American Stock Exchange.

First Trust, a Lisle, Ill., investment management firm, manages or supervises about $25 billion of assets.

The new value fund seeks investment results that correspond generally to the price and yield of an equity index called the Deutsche Bank Croci US+ Index. The index is intended to reflect the total return performance of 40 stocks with the lowest positive "economic" price-earnings ratios from a pool consisting of the 251 largest stocks in terms of market capitalization in the S&P 500 Index, excluding financial companies.