FDNI ETF — Holdings & Analysis

With an expense ratio of 0.65%, FDNI provides exposure to a concentrated portfolio of 40 holdings, differentiating itself through its specific focus on the international internet sector and significant allocation to Chinese internet companies.

First Trust Dow Jones International Internet ETF (FDNI) ETF — Price, Holdings & Analysis

The First Trust Dow Jones International Internet ETF (FDNI) is an international equity ETF with $0.05 billion in assets under management. It seeks to replicate the Dow Jones International Internet Index, focusing on internet-related companies outside the U.S. With an expense ratio of 0.65%, FDNI provides exposure to a concentrated portfolio of 40 holdings, differentiating itself through its specific focus on the international internet sector and significant allocation to Chinese internet companies.

ETF Overview

The First Trust Dow Jones International Internet ETF seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the Dow Jones International Internet Index. The Fund will normally invest at least 90% of its net assets (including investment borrowings) in securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index.

FDNI aims to mirror the performance of the Dow Jones International Internet Index by investing at least 90% of its net assets in its constituent securities. This ETF provides targeted exposure to internet-focused companies located outside of the United States. The fund's investment strategy centers around replicating the index, which captures companies that derive a significant portion of their revenue from the internet. FDNI's portfolio is relatively concentrated, holding only 40 stocks, with a significant emphasis on companies in the Consumer Cyclical (43.4%) and Communication Services (35.8%) sectors. Top holdings include Alibaba Group Holding Ltd (10.71%), Tencent Holdings Ltd (9.74%), and Shopify Inc (8.65%). This ETF may appeal to investors seeking targeted exposure to the growth potential of the international internet sector, particularly in China, while accepting a higher level of concentration risk.

Risk Metrics

FDNI carries several risks inherent to its investment strategy. Its concentration in a small number of holdings (40) means that the performance of a few key companies, such as Alibaba and Tencent, can significantly impact the fund's overall returns. The fund's heavy allocation to the Consumer Cyclical and Communication Services sectors makes it vulnerable to economic cycles and changes in consumer spending. Geographically, the fund is heavily exposed to China (43.0%), which introduces geopolitical and regulatory risks. With a beta of 1.26, FDNI is more volatile than the broader market. The expense ratio of 0.65% creates a drag on performance, especially when compared to lower-cost broad market ETFs. Past performance does not guarantee future results.

Expense Ratio

0.65%

What does FDNI hold?

Holding	Weight
Alibaba Group Holding Ltd Ordinary Shares (9988.HK)	10.71%
Tencent Holdings Ltd (0700.HK)	9.74%
Shopify Inc Registered Shs -A- Subord Vtg (SHOP)	8.65%
PDD Holdings Inc ADR (PDD)	5.38%
Spotify Technology SA (SPOT)	4.86%
JD.com Inc Ordinary Shares - Class A (9618.HK)	4.68%
Naspers Ltd Class N (NPN.JO)	4.64%
Sea Ltd ADR (SE)	4.63%
Prosus NV Ordinary Shares - Class N (PRX.AS)	4.63%
NetEase Inc Ordinary Shares (9999.HK)	4.28%

How Is the Fund Allocated?

Sector	Weight
Consumer Cyclical	43.4%
Communication Services	35.8%
Technology	16.1%
Financial Services	3.3%
Healthcare	1.4%

Country	Weight
China	43.0%
Canada	9.7%
Netherlands	8.6%
Luxembourg	6.0%
Ireland	5.4%
South Africa	4.9%
South Korea	4.3%
Singapore	3.8%
Australia	3.6%
Japan	3.1%

Dividend Yield

1.28%

First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) — 0.99% expense ratio
WisdomTree Global High Dividend Fund (DEW) — 0.58% expense ratio
First Trust Developed Markets ex-US AlphaDEX Fund (FDT) — 0.80% expense ratio
First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) — 0.80% expense ratio
First Trust Europe AlphaDEX Fund (FEP) — 0.80% expense ratio
WisdomTree International High Dividend Fund (DTH) — 0.58% expense ratio
WisdomTree International Hedged Quality Dividend Growth Fund (IHDG) — 0.58% expense ratio
JPMorgan BetaBuilders Emerging Markets Equity ETF (BBEM) — 0.15% expense ratio

First Trust RiverFront Dynamic Emerging Markets ETF (RFEM) (International Equity) — 0.99% expense ratio
FT Energy Income Partners Enhanced Income ETF (EIPI) (Sector Equity) — 1.11% expense ratio
First Trust Europe AlphaDEX Fund (FEP) (International Equity) — 0.80% expense ratio
First Trust Emerging Markets Small Cap AlphaDEX Fund (FEMS) (International Equity) — 0.80% expense ratio
First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) (Sector Equity) — 0.56% expense ratio
First Trust Developed Markets ex-US AlphaDEX Fund (FDT) (International Equity) — 0.80% expense ratio

Risk Metrics

Beta: 1.26

Questions & Answers

What is FDNI and what does it track?

The First Trust Dow Jones International Internet ETF (FDNI) is an exchange-traded fund that aims to replicate the performance of the Dow Jones International Internet Index.

This index is designed to represent companies outside the United States that generate a significant portion of their revenue from the internet.

What is the expense ratio for FDNI?

The expense ratio for FDNI is 0.65%. This means that for every $10,000 invested in the fund, $65 is used to cover the fund's operating expenses annually.

While this provides access to a specific segment of the international equity market, the expense ratio is higher than some broader international equity ETFs. The category average expense ratio for international equity ETFs is approximately 0.44%.

What are the top holdings in FDNI?

As of 2026-03-15, the top holdings in FDNI are: Alibaba Group Holding Ltd Ordinary Shares (9988.HK) at 10.71%, Tencent Holdings Ltd (0700.HK) at 9.74%, Shopify Inc Registered Shs -A- Subord Vtg (SHOP) at 8.65%, PDD Holdings Inc ADR (PDD) at…

5.38%, and Spotify Technology SA (SPOT) at 4.86%.

Is FDNI a good long-term investment?

Whether FDNI is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and outlook on the international internet sector. The fund offers targeted exposure to this specific market segment, which could provide growth opportunities.

However, its concentrated portfolio and significant exposure to China introduce risks.

How does FDNI compare to similar ETFs?

FDNI differentiates itself through its specific focus on international internet companies, while many similar ETFs offer broader exposure to international equities or technology sectors. With an expense ratio of 0.65%, FDNI is more expensive than some broader international equity ETFs.

Its AUM of $0.05 billion is relatively small compared to larger, more diversified international ETFs.

Does FDNI pay dividends?

Yes, FDNI does pay dividends. As of 2026-03-15, FDNI has a dividend yield of 1.28%. The dividend yield represents the annual dividend payment as a percentage of the fund's share price.

It's important to note that dividend yields can fluctuate and are not guaranteed. The dividend income may be a consideration for investors seeking income-generating investments.