Launched on 05/08/2007, the First Trust Consumer Discretionary AlphaDEX ETF (FXD) is a smart beta exchange traded fund offering broad exposure to the Consumer Discretionary ETFs category of the market.What Are Smart Beta ETFs?For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.Investors who believe in market efficiency should consider market cap indexes, as they ...