Investment Objective/Strategy - The investment objective of the First Trust Smith Unconstrained Bond ETF (the "Fund") is to seek to maximize long-term total return. Under normal market conditions, the Fund invests at least 80% of its net assets (including investment borrowings) in a portfolio of fixed income securities.
There can be no assurance that the Fund's investment objectives will be achieved.
| Ticker | UCON |
| Fund Type | Non-Traditional Bond |
| Investment Advisor | First Trust Advisors L.P. |
| Investor Servicing Agent | Bank of New York Mellon Corp |
| Portfolio Manager/Sub-Advisor | Smith Capital Investors, LLC |
| CUSIP | 33740F888 |
| ISIN | US33740F8885 |
| Intraday NAV | UCONIV |
| Fiscal Year-End | 08/31 |
| Exchange | NYSE Arca |
| Inception | 6/4/2018 |
| Inception Price | $25.00 |
| Inception NAV | $25.00 |
| Total Expense Ratio* | 0.86% |
* As of 1/2/2026
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's Statement of Additional Information for full details.
| Closing NAV1 | $24.84 |
| Closing Market Price2 | $24.90 |
| Bid/Ask Midpoint | $24.90 |
| Bid/Ask Premium | 0.24% |
| 30-Day Median Bid/Ask Spread3 | 0.04% |
| Total Net Assets | $3,288,599,268 |
| Outstanding Shares | 132,400,002 |
| Daily Volume | 401,792 |
| Average 30-Day Daily Volume | 503,926 |
| Closing Market Price 52-Week High/Low | $25.38 / $24.58 |
| Closing NAV 52-Week High/Low | $25.33 / $24.60 |
| Number of Holdings (excluding cash) | 487 |
| Holding |
Percent |
| U.S. Treasury Note, 4%, due 05/31/2028 |
2.41% |
| U.S. Treasury Bond, 4.75%, due 02/15/2056 |
2.20% |
| U.S. Treasury Bond, 4.625%, due 11/15/2045 |
2.15% |
| U.S. Treasury Note, 4.375%, due 05/15/2036 |
2.13% |
| U.S. Treasury Note, 3.375%, due 02/29/2028 |
1.04% |
| U.S. Treasury Note, 3.875%, due 04/30/2031 |
1.01% |
| U.S. Treasury Bond, 5%, due 05/15/2056 |
0.99% |
| Fannie Mae FN BM7755, 4%, due 06/01/2064 |
0.96% |
| THE BOEING CO 7.008%, due 05/01/2064 |
0.81% |
| Fannie Mae Series 2024-82, Class CF, Variable rate, due 11/25/2054 |
0.73% |
*Â Excluding cash.Â
Holdings are subject to change.
|
Percent |
| Corporate |
65.81% |
| Securitized |
13.79% |
| U.S. Treasuries |
11.02% |
| Preferred |
6.54% |
| Term Loans |
2.18% |
| Cash & Equivalents |
0.66% |
| Weighted Average Effective Duration8 | 4.50 Years |
| Weighted Average Maturity | 9.71 Years |
| Weighted Average Yield-to-Worst9 | 5.45% |
| Years |
Percent |
| 0 - 0.99 Years |
0.69% |
| 1 - 2.99 Years |
17.17% |
| 3 - 4.99 Years |
23.52% |
| 5 - 6.99 Years |
12.99% |
| 7 - 9.99 Years |
17.27% |
| 10 - 19.99 Years |
10.27% |
| 20 Years & Over |
18.09% |
| Credit Quality |
Percent |
| Government/Agency |
23.97% |
| AAA |
0.30% |
| AA+ |
0.23% |
| AA |
0.80% |
| AA- |
1.15% |
| A+ |
2.34% |
| A |
3.08% |
| A- |
5.72% |
| BBB+ |
3.71% |
| BBB |
9.88% |
| BBB- |
15.07% |
| BB+ |
7.48% |
| BB |
7.69% |
| BB- |
9.58% |
| B+ |
4.43% |
| B |
3.06% |
| B- |
1.35% |
| CCC+ |
0.14% |
| CCC- |
0.02% |
Credit Quality is a measure of credit worthiness and risk of a bond or portfolio, based on the issuer's financial condition. AAA/Aaa is the highest and D is lowest. If applicable, the Pre-Refunded/Agency category includes bonds which are deemed high-quality investment-grade by the Advisor. If applicable, the Not Rated category includes bonds that are not rated by a Nationally Recognized Statistical Rating Organization. Composite Rating Source: Bloomberg L.P., ratings presented are a blend of a security's Moody's, S&P, Fitch and DBRS ratings. The rating agencies are evenly weighted when calculating the composite. Ratings presented may differ when viewed on an agency-by-agency basis.
|
|
2025 |
Q1 2026 |
Q2 2026 |
Q3 2026 |
| Days Traded at Premium |
120 |
53 |
55 |
3 |
| Days Traded at Discount |
130 |
8 |
7 |
0 |
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 3-month U.S. Treasury Bill Index - The Index contains short-term U.S. Government securities with a remaining term to final maturity of about 90 days.
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