First Trust Alternative Absolute Return Strategy ETF (FAAR)

First Trust Alternative Absolute Return Strategy ETF (FAAR) is an exchange-traded fund in the Commodities Broad Basket category. It has $178.24M in assets, an expense ratio of 0.98% and a 8.39% dividend yield. The fund is an actively managed exchange-traded fund that seeks to achieve long-term total return through long and short investments in exchange-traded commodity futures contracts ("Commodity Futures") through a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands (the "Subsidiary"). It does not invest directly in Commodity Futures. The advisor gains exposure to these investments exclusively by investing in the Subsidiary. The Subsidiary is advised by First Trust A…