The fund primarily invests in Canadian stocks of any size that are believed to exhibit capital strength. The advisor first identifies companies that are traded on a Canadian exchange or market. To identify strong fundamental characteristics, companies are then screened using multiple quantitative metrics that include cash on hand, return on equity, and long-term debt to market value of equity. Other factors are then examined such as valuation and future growth prospects. A fundamental analysis is then used to select stocks that trade at attractive valuations or will likely exceed market expectations of future cash flows. As an actively managed ETF, the portfolio managers can analyze market and financial data to make buy, sell, and hold decisions at their discretion. Prior to Nov. 14, 2016, the fund was a mutual fund and was named First Trust Canadian Capital Strength Portfolio.