First Trust has launched a new exchange-traded fund, First Trust Nasdaq Lux Digital Health Solutions ETF, according to a March 23 news release.
The fund seeks investment results from the existing Nasdaq Lux Health Tech Index, which provides exposure to companies working in healthcare technology and innovation. The purpose of the index is to create a benchmark for various publicly traded companies in the field of health tech innovation. The profile of the index spans across software, medical devices, biotech and diagnostics.
"The health care sector is leveraging technology in new and innovative ways that have the potential to both raise our standard of living and improve patient outcomes," said Ryan Issakainen, senior vice president, ETF strategist at First Trust. "We believe [the fund] will appeal to investment professionals seeking exposure to some of the most innovative stocks at the intersection of healthcare and technology."