Investment Objective/Strategy - The First Trust SSI Strategic Convertible Securities ETF is an actively managed exchange-traded fund that seeks to deliver total return by investing, under normal market conditions, at least 80% of its net assets in a diversified portfolio of U.S. and non-U.S. convertible securities.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | FCVT |
Fund Type | Convertible Securities |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon Corp |
Portfolio Manager/Sub-Advisor | SSI Investment Management LLC |
CUSIP | 33739Q507 |
ISIN | US33739Q5071 |
Intraday NAV | FCVTIV |
Fiscal Year-End | 10/31 |
Exchange | Nasdaq |
Inception | 11/3/2015 |
Inception Price | $25.00 |
Inception NAV | $25.00 |
Total Expense Ratio* | 0.95% |
* As of 3/3/2025
Closing NAV1 | $40.62 |
Closing Market Price2 | $40.40 |
Bid/Ask Midpoint | $40.48 |
Bid/Ask Discount | 0.34% |
30-Day Median Bid/Ask Spread3 | 0.49% |
Total Net Assets | $91,398,504 |
Outstanding Shares | 2,250,002 |
Daily Volume | 14,804 |
Average 30-Day Daily Volume | 50,098 |
Closing Market Price 52-Week High/Low | $40.75 / $32.51 |
Closing NAV 52-Week High/Low | $40.79 / $32.48 |
Number of Holdings (excluding cash) | 134 |
Holding |
Percent |
STRATEGY INC Convertible, 0%, due 03/01/2030 |
3.90% |
The Boeing Company, Convertible, 6.00%, Due 10/15/2027 |
3.20% |
ALIBABA GROUP HOLDING Convertible, 0.50%, due 06/01/2031 |
2.35% |
NEXTERA ENERGY CAPITAL Convertible, 3%, due 03/01/2027 |
1.79% |
SNOWFLAKE INC Convertible, 0%, due 10/01/2027 |
1.62% |
LIVE NATION ENTERTAINMENT Convertible, 2.875%, due 01/15/2030 |
1.61% |
SEAGATE HDD CAYMAN Convertible, 3.50%, due 06/01/2028 |
1.56% |
MORGAN STANLEY FIN LLC Convertible, 0.125%, due 02/07/2028 |
1.51% |
UBER TECHNOLOGIES INC Convertible, 0.875%, due 12/01/2028 |
1.43% |
Wells Fargo & Company, Series L, 7.500% |
1.40% |
*Â Excluding cash.Â
Holdings are subject to change.
Past performance is not indicative of future results.
Weighted Average Effective Duration4 | 1.26 Years |
|
Percent |
Convertible Bond |
82.93% |
Mandatory Preferred |
12.14% |
Convertible Preferred |
3.06% |
Cash & Equivalent |
1.87% |
|
2024 |
Q1 2025 |
Q2 2025 |
Q3 2025 |
Days Traded at Premium |
28 |
14 |
25 |
6 |
Days Traded at Discount |
224 |
46 |
37 |
37 |
Technology
|
38.14%
|
Financials
|
13.68%
|
Industrials
|
11.37%
|
Consumer Discretionary
|
11.18%
|
Health Care
|
9.50%
|
Utilities
|
6.43%
|
Materials
|
2.03%
|
Cash & Accrued Income
|
1.87%
|
Transportation
|
1.83%
|
Media
|
1.11%
|
Consumer Staples
|
1.05%
|
Energy
|
0.98%
|
Telecommunications
|
0.83%
|
|
|
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FCVT |
12.40% |
-1.96 |
1.09 |
0.32 |
0.97 |
ICE BofA US Convertible Index |
11.10% |
--- |
1.00 |
0.49 |
1.00 |
Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms
on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure
of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.
Bloomberg US Aggregate Bond Index - The Index covers the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, MBS, ABS, and CMBS. ICE BofA US Convertible Index - The Index measures the return of all U.S. convertibles.
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