First Trust Energy Income And Growth Fund (FEN)
  • 2018 Estimated Capital Gain Distributions
    Certain First Trust Closed-End Funds are expected to pay a long-term capital gain distribution in December. For a list of closed-end funds expected to pay a long-term capital gain distribution, please click here. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - First Trust Energy Income and Growth Fund (the "Fund") is a non-diversified, closed-end management investment company. The Fund's investment objective is to seek a high level of after-tax total return with an emphasis on current distributions paid to shareholders. The Fund pursues its objective by investing in cash-generating securities of energy companies, with a focus on investing in publicly-traded MLPs, related public entities in the energy sector and other public companies, which EIP believes offer opportunities for income and growth. Under normal market conditions, the Fund will invest at least 85% of its managed assets in securities of energy companies, energy sector MLPs and MLP-related entities.
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
TickerFEN
Fund TypeEnergy
Investment AdvisorFirst Trust Advisors L.P.
Portfolio Manager/Sub-AdvisorEnergy Income Partners, LLC
Investor Servicing AgentBNY Mellon Investment Servicing (US) Inc.
CUSIP33738G104
Fiscal Year-End11/30
ExchangeNYSE MKT
Inception6/24/2004
Inception Price$20.00
Inception NAV$19.10
Current Fund Data (as of 12/14/2018)
Closing NAV1$20.83
Closing Share Price2$19.44
Discount to Net Asset Value (NAV)6.67%
Total Managed Assets$562,777,503
Common Shares Outstanding19,984,376
Dividend FrequencyQuarterly
Dividend Per Share Amt3$0.5800
Distribution Rate411.93%
Daily Volume160,456
Average 30-Day Daily Volume144,823
Closing Share Price 52-Week High/Low$27.40 / $19.10
Closing NAV 52-Week High/Low$26.73 / $20.67
Expense Ratios (as of 5/31/2018)
Annual ExpensesPercent of
Net Assets		Percent of
Managed
Assets
Management Fees1.35%1.00%
Other Expenses
0.24%
0.18%
Total Operating Expenses1.59%1.18%
 
Leverage Costs1.21%0.90%
Current Inc Tax Expenses0.19%0.14%
Deferred Inc Tax Expenses-20.00%-14.84%
 
Total Annual Expenses-17.01%-12.62%
 
Leverage costs include interest, fees and any upfront/offering costs associated with borrowings by the Fund.
FEN is treated as a regular C corporation for U.S. federal income tax purposes and as such is obligated to pay federal and applicable state and foreign corporate taxes on its taxable income.
Leverage Information (as of 12/14/2018)6
Total Net Assets with Leverage$562,777,503
Amount Attributable to Common Shares$416,277,503
Amount Attributable to Preferred Shares$0
Amount Attributable to Other Borrowings$146,500,000
Leverage (% of Total Net Assets)26.03%
Industry Breakdown (as of 10/31/2018)7
  Industry Percent
Natural Gas Transmission 30.49%
Petroleum Product Transmission 28.28%
Crude Oil Transmission 16.93%
Electric Power & Transmission 12.19%
Propane 4.25%
Coal 2.87%
Nat. Gas Gathering & Processing 2.68%
Oil & Gas Production 1.29%
Other 1.02%
Share Price and NAV History (Since Inception)
Past performance is not indicative of future results.
% Premium/Discount (Since Inception)
Cumulative Total Returns (as of 11/30/2018)5
Period Share Price NAV
3 Months -8.47% -6.06%
1 Year -0.55% 3.88%
3 Years 15.62% 12.73%
5 Years -5.60% -0.97%
10 Years 206.72% 220.49%
Year to Date -16.56% -7.30%
Inception to Date 189.37% 223.16%
Calendar Year Returns (as of 12/31/2017)5
Period Share Price NAV
2005 3.68% 8.53%
2006 23.70% 24.80%
2007 3.07% -1.23%
2008 -39.80% -41.14%
2009 87.45% 62.30%
2010 24.24% 34.40%
2011 12.50% 17.19%
2012 15.97% 6.33%
2013 12.14% 24.43%
2014 20.33% 20.02%
2015 -33.29% -32.27%
2016 27.19% 22.77%
2017 9.52% 6.38%
Average Annual Returns (as of 11/30/2018)5
Period Share Price NAV
3 Years 4.96% 4.08%
5 Years -1.15% -0.19%
10 Years 11.86% 12.35%
Inception to Date 7.64% 8.46%
Top 10 Holdings (as of 10/31/2018)7
Holding Percent
Enterprise Products Partners, L.P. 13.44%
Magellan Midstream Partners, L.P. 8.35%
Williams (The) Cos., Inc. 6.68%
Enbridge Energy Partners, L.P. 6.14%
TransCanada Corp. 5.38%
Energy Transfer Equity L.P. 5.10%
Kinder Morgan, Inc. 4.78%
TC Pipelines, L.P. 4.71%
Plains All American Pipeline L.P. 4.01%
Holly Energy Partners, L.P. 3.82%
Footnotes
1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's common shares outstanding.
2 Fund shares are purchased and sold on an exchange at their share 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 Total return is the combination of reinvested dividend income and reinvested capital gains distributions, at prices obtained by the Dividend Reinvestment Plan, if any, and changes in the NAV and Share Price. The NAV total return takes into account the fund's total annual expenses and does not reflect sales load. Past performance is not indicative of future results.
6 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.
7 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-Q) that are based on trade date recording of security transactions. Holdings are subject to change.

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 is concentrated in securities issued by energy companies, energy sector MLPs and MLP-related entities, it will be more susceptible to adverse economic or regulatory occurrences affecting those industries, including high interest costs, high leverage costs, the effects of economic slowdown, surplus capacity, increased competition, uncertainties concerning the availability of fuel at reasonable prices, the effects of energy conservation policies and other factors.

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.

Investment in non-U.S. securities is subject to the risk of currency fluctuations and to economic and political risks associated with such foreign countries.

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