First Trust Advisors has filed with the Securities and Exchange Commission to launch an active exchange-traded fund that will bet on the commodity futures market.

According to a filing, the First Trust Global Tactical Commodity Strategy Fund will bet 255 of its assets on commodity future contracts and commodity linked instruments through a First Trust Cayman Island-based subsidiary. The remainder of the Fund's assets will be invested in U.S. government securities and money market instruments. The fund will not invest directly in commodities.

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