Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
First Trust Dynamic Europe Equity Income Fund (FDEU)
Investment Objective/Strategy - First Trust Dynamic Europe Equity Income Fund (the "Fund") is a non-diversified, closed-end management investment company. The Fund's investment objective is to provide a high level of current income with a secondary focus on capital appreciation. Under normal market conditions, the Fund pursues its objective by investing at least 80% of its Managed Assets in a portfolio of equity securities of European companies of any market capitalization, including, but not limited to, common and preferred stocks that pay dividends, depositary receipts, and real estate investment trusts ("REITs"). "Managed Assets" means the total asset value of the Fund minus the sum of the Fund's liabilities other than the principal amount of borrowings, if any.
There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
Fund Overview
TickerFDEU
Fund TypeEquity Income
Investment AdvisorFirst Trust Advisors L.P.
Portfolio Manager/Sub-AdvisorJanus Capital Management LLC
Investor Servicing AgentComputershare Trust Company, N.A.
CUSIP33740D107
Fiscal Year-End12/31
ExchangeNYSE
Inception9/24/2015
Inception Price$20.00
Inception NAV$19.10
Current Fund Data (as of 9/20/2019)
Closing NAV1$15.21
Closing Market Price2$13.79
Discount to Net Asset Value (NAV)9.34%
Total Managed Assets$356,226,250
Common Shares Outstanding17,231,908
Dividend FrequencyMonthly
Dividend Per Share Amt3$0.1210
Distribution Rate410.53%
Daily Volume68,802
Average 30-Day Daily Volume55,954
Closing Market Price 52-Week High/Low$15.96 / $12.50
Closing NAV 52-Week High/Low$17.33 / $13.99
Expense Ratios (as of 6/30/2019)
Annual ExpensesPercent of
Net Assets
Percent of
Managed
Assets
Management Fees1.47%1.10%
Other Expenses
0.21%
0.16%
Total Operating Expenses1.68%1.26%
 
Leverage Costs0.27%0.20%
 
Total Annual Expenses1.95%1.46%
 
Leverage costs include the interest expense on investments sold short.
Leverage Information (as of 9/20/2019)5
Total Net Assets with Leverage$356,226,250
Amount Attributable to Common Shares$262,018,077
Amount Attributable to Preferred Shares$0
Amount Attributable to Other Borrowings$94,208,173
Leverage (% of Total Net Assets)26.45%
Top 10 Holdings (as of 8/31/2019)6
Holding Percent
Novartis AG (CHF) 2.92%
BAE Systems PLC (GBP) 2.60%
Unilever NV Certificates (EUR) 2.59%
GlaxoSmithKline PLC (GBP) 2.57%
National Grid PLC (GBP) 2.38%
BASF SE (EUR) 2.32%
ENI SPA (EUR) 2.30%
Imperial Brands PLC (GBP) 2.22%
Vodafone Group PLC (GBP) 2.18%
Sanofi (EUR) 2.16%
Portfolio Information (as of 8/31/2019)6
% of Portfolio with Call Options32.35%
Market Price and NAV History (Since Inception)
Past performance is not indicative of future results.
% Premium/Discount (Since Inception)
Top Countries (as of 8/31/2019)6
Country Percent
United Kingdom 28.91%
France 15.77%
Switzerland 15.00%
Germany 10.02%
Netherlands 8.64%
Italy 4.95%
Spain 4.02%
Sweden 2.88%
Norway 2.44%
Finland 2.41%
Denmark 1.49%
Austria 1.45%
Luxembourg 1.41%
Belgium 0.61%
Sector Breakdown (as of 8/31/2019)6
  Sector Percent
Industrials 16.60%
Financials 16.15%
Consumer Staples 14.06%
Health Care 11.01%
Communication Services 9.34%
Energy 9.31%
Utilities 7.34%
Materials 4.86%
Information Technology 3.90%
Real Estate 3.81%
Consumer Discretionary 3.62%
Performance (as of 8/31/2019)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception7
Fund Performance *
Net Asset Value (NAV) 1.70% 6.08% -5.88% 2.41% N/A N/A 2.20%
Market Price 2.38% 10.93% -8.38% 1.77% N/A N/A -1.61%

*Total return is the combination of reinvested dividend, capital gain, and return of capital distributions, if any, at prices obtained by the Dividend Reinvestment Plan, and changes in the NAV and Market Price. The NAV total return takes into account the fund's total annual expenses and does not reflect sales load. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. Past performance is not indicative of future results.

Footnotes
1 The fund's NAV is calculated by dividing the value of all the fund's assets, less all liabilities, by the total number of common shares outstanding.
2 Fund shares are purchased and sold on an exchange at their market price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
3 Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.
4 Distribution rates are calculated by annualizing the most recent distribution paid or declared through today's date and then dividing by the most recent market price. The distribution consists of the sum of net investment income, net realized short-term capital gains, net realized long-term capital gains, and return of capital. Distribution rates may vary. Any distribution adjustment will not be reflected until after the declaration date for the next distribution. See the fund's 19a-1 Notices, if any, located under the "News & Literature" section of the website for estimates of distribution sources. Final determination of the source and tax status of all distributions paid in the current year will be made after year-end.
5 Leverage is a technique where a closed-end fund's manager borrows assets at one rate and invests the proceeds from the borrowed assets at another rate, seeking to increase yield and total return. Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.
6 Market value information used in calculating the percentages is based upon trade date plus one recording of transactions, which can differ from regulatory financial reports (Forms N-CSR and N-PORT Part F) that are based on trade date recording of security transactions. Holdings are subject to change.
7 Inception Date is 9/24/2015

Risk Considerations

The fund is subject to risks, including the fact that it is a non-diversified closed-end management investment company. Investment return and market value of an investment in the fund will fluctuate. Shares, when sold, may be worth more or less than their original cost.

Because the fund will invest primarily in securities of non-U.S issuers, which are generally denominated in non-U.S. currencies, there are risks not typically associated with investing in securities of U.S. issuers. Non-U.S. issuers are subject to higher volatility than securities of U.S. issuers. An investor may lose money if the local currency of a non-U.S. market depreciates against the U.S. dollar.

Investments in securities of issuers located in emerging market countries are considered speculative and there is a heightened risk of investing in emerging markets securities.

The fund will engage in practices and strategies that will result in exposure to fluctuations in foreign exchange rates, thus subjecting it to foreign currency risk.

The fund's use of derivatives may result in losses greater than if they had not been used, may require the fund to sell or purchase portfolio securities at inopportune times, may limit the amount of appreciation the fund can realize on an investment, or may cause the fund to hold a security that it might otherwise sell.

Use of leverage can result in additional risk and cost, and can magnify the effect of any losses.

The risks of investing in the fund are spelled out in the prospectus, shareholder report and other regulatory filings.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial advisors are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
Home |  Important Legal Information |  Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2019 All rights reserved.