First Trust Long/Short Equity ETF (FTLS)

First Trust Long/Short Equity ETF (FTLS) is an exchange-traded fund in the Long Short Equity category. It has $2.41B in assets, an expense ratio of 1.38% and a 0.89% dividend yield. Under normal conditions, the fund will expose at least 80% of its net assets (including investment borrowings) to U.S. exchange-listed equity securities and/or U.S. exchange-traded funds ("ETFs") that provide exposure to U.S. exchange-listed equity securities. It pursues its investment objective by establishing long and short positions in its portfolio of U.S. exchange-listed equity securities and ETFs. The fund may invest up to 20% of its net assets (including investment borrowings) in U.S. ex…