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2024 Estimated Capital Gain Distributions
Please note that none our First Trust Closed-End Funds are expected to pay a special long-term capital gain distribution in December. Also, none of the First Trust Closed-End Funds are expected to pay any special short-term capital gain distributions in December. 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 High Yield Opportunities 2027 Term Fund ("the Fund") is a diversified, closed-end management investment company. The investment objective of the Fund is to provide current income. Under normal market conditions, the Fund will seek to achieve its investment objective by investing at least 80% of its Managed Assets in high yield debt securities of any maturity that are rated below investment grade at the time of purchase or unrated securities determined by the Advisor to be of comparable quality. High yield debt securities include U.S. and non-U.S. corporate debt obligations and senior, secured floating rate loans ("Senior Loans"). Securities rated below investment grade are commonly referred to as "junk" or "high yield" securities and are considered speculative with respect to the issuer's capacity to pay interest and repay principal. There can be no assurance that the Fund will achieve its investment objective or that the Fund's investment strategies will be successful.
There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
Ticker | FTHY |
Fund Type | High Yield Bond |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Computershare Trust Company, N.A. |
CUSIP | 33741Q107 |
Fiscal Year-End | 05/31 |
Exchange | NYSE |
Inception | 6/25/2020 |
Inception Price | $20.00 |
Inception NAV | $20.00 |
Closing NAV1 | $15.40 |
Closing Market Price2 | $14.85 |
Discount to Net Asset Value (NAV) | 3.57% |
Total Managed Assets | $713,461,081 |
Common Shares Outstanding | 36,772,989 |
Dividend Frequency | Monthly |
Dividend Per Share Amt3 | $0.1250 |
Distribution Rate4 | 10.10% |
Daily Volume | 109,186 |
Average 30-Day Daily Volume | 79,087 |
Closing Market Price 52-Week High/Low | $15.12 / $13.15 |
Closing NAV 52-Week High/Low | $15.97 / $15.13 |
Annual Expenses | Percent of Net Assets | Percent of Managed Assets |
Management Fees | 1.66% | 1.36% |
Other Expenses | 0.16% | 0.14% |
Total Operating Expenses | 1.82% | 1.50% |
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Leverage Costs | 1.52% | 1.26% |
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Total Annual Expenses | 3.34% | 2.76% |
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Leverage costs include interest, fees and any upfront/offering costs associated with borrowings by the Fund.
Holding |
Percent |
SS&C Technologies Holdings, Inc. |
3.55% |
Open Text Corporation (GXS) |
3.21% |
Alliant Holdings I, LLC |
2.62% |
Medline Borrower, LP (Mozart) |
2.14% |
Sinclair Television Group, Inc. |
2.06% |
Hub International Limited |
1.99% |
1011778 B.C. Unlimited Liability Company (Restaurant Brands) (aka Burger King/Tim Horton's) |
1.96% |
Go Daddy Operating Company, LLC |
1.87% |
Graham Packaging Company, L.P. |
1.83% |
OneDigital Borrower, LLC |
1.77% |
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S&P Rating |
Percent |
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BBB
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0.61%
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BBB-
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7.88%
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BB+
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7.33%
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BB
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14.06%
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BB-
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10.88%
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B+
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12.78%
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B
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15.35%
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B-
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11.78%
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CCC+
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12.70%
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CCC
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3.03%
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CCC-
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2.04%
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NR
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1.56%
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The ratings are by S&P Global Ratings except where otherwise indicated. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change.
Weighted Average Effective Duration5 | 3.38 Years |
Weighted Average Maturity | 4.68 Years |
Weighted Average Price | $95.38 |
Weighted Average Coupon | 6.24% |
Weighted Average Yield-To-Maturity6 | 7.91% |
Weighted Average Yield-to-Worst7 | 7.79% |
Option-Adjusted Spread8 | 330 bps |
Past performance is not indicative of future results.
Total Net Assets with Leverage | $713,461,081 |
Amount Attributable to Common Shares | $566,461,081 |
Amount Attributable to Other Borrowings | $147,000,000 |
Leverage (% of Total Adjusted Net Assets) | 20.60% |
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Asset |
Percent |
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High Yield
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84.67%
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Senior Loan
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15.33%
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Industry |
Percent |
Software |
17.81% |
Insurance |
13.25% |
Media |
8.88% |
Containers & Packaging |
8.45% |
Commercial Services & Supplies |
5.85% |
Hotels, Restaurants & Leisure |
5.26% |
Health Care Providers & Services |
4.53% |
IT Services |
3.14% |
Food Products |
2.97% |
Health Care Technology |
2.82% |
Diversified Telecommunication Services |
2.72% |
Health Care Equipment & Supplies |
2.14% |
Trading Companies & Distributors |
2.04% |
Professional Services |
1.72% |
Building Products |
1.51% |
Life Sciences Tools & Services |
1.48% |
Automobile Components |
1.46% |
Consumer Staples Distribution & Retail |
1.44% |
Aerospace & Defense |
1.40% |
Household Products |
1.08% |
Pharmaceuticals |
1.03% |
Construction & Engineering |
0.91% |
Consumer Finance |
0.86% |
Specialty Retail |
0.80% |
Construction Materials |
0.77% |
Machinery |
0.73% |
Diversified Consumer Services |
0.71% |
Automobiles |
0.58% |
Independent Power and Renewable Electricity Producers |
0.52% |
Electronic Equipment, Instruments & Components |
0.38% |
Ground Transportation |
0.37% |
Electric Utilities |
0.33% |
Capital Markets |
0.32% |
Interactive Media & Services |
0.31% |
Leisure Products |
0.31% |
Real Estate Management & Development |
0.29% |
Chemicals |
0.28% |
Personal Products |
0.20% |
Industrial Conglomerates |
0.16% |
Financial Services |
0.10% |
Entertainment |
0.05% |
Electrical Equipment |
0.04% |
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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 professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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