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 | $24.87 |
| Closing Market Price2 | $24.93 |
| Bid/Ask Midpoint | $24.92 |
| Bid/Ask Premium | 0.20% |
| 30-Day Median Bid/Ask Spread3 | 0.04% |
| Total Net Assets | $3,277,164,505 |
| Outstanding Shares | 131,750,002 |
| Daily Volume | 394,542 |
| Average 30-Day Daily Volume | 586,109 |
| 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) | 505 |
| Holding |
Percent |
| U.S. Treasury Note, 3.375%, due 02/29/2028 |
2.35% |
| U.S. Treasury Bond, 4.625%, due 11/15/2045 |
2.15% |
| U.S. Treasury Bond, 4.75%, due 02/15/2056 |
2.14% |
| U.S. Treasury Note, 4.375%, due 05/15/2036 |
1.71% |
| U.S. Treasury Note, 3.875%, due 04/30/2031 |
1.19% |
| U.S. Treasury Bond, 4.625%, due 11/15/2055 |
1.05% |
| Fannie Mae FN BM7755, 4%, due 06/01/2064 |
0.97% |
| THE BOEING CO 7.008%, due 05/01/2064 |
0.81% |
| Fannie Mae Series 2024-82, Class CF, Variable rate, due 11/25/2054 |
0.74% |
| ALBERTSONS COS/SAFEWAY 6.50%, due 02/15/2028 |
0.72% |
*Â Excluding cash.Â
Holdings are subject to change.
|
Percent |
| Corporate |
63.48% |
| Securitized |
13.82% |
| U.S. Treasuries |
12.53% |
| Preferred |
6.45% |
| Term Loans |
2.46% |
| Cash & Equivalents |
1.26% |
| Weighted Average Effective Duration8 | 4.33 Years |
| Weighted Average Maturity | 9.40 Years |
| Weighted Average Yield-to-Worst9 | 5.40% |
| Years |
Percent |
| 0 - 0.99 Years |
0.56% |
| 1 - 2.99 Years |
18.11% |
| 3 - 4.99 Years |
24.49% |
| 5 - 6.99 Years |
11.35% |
| 7 - 9.99 Years |
18.83% |
| 10 - 19.99 Years |
9.61% |
| 20 Years & Over |
17.05% |
| Credit Quality |
Percent |
| Government/Agency |
26.09% |
| AAA |
0.30% |
| AA+ |
0.24% |
| AA |
0.87% |
| AA- |
1.27% |
| A+ |
3.02% |
| A |
2.98% |
| A- |
4.72% |
| BBB+ |
3.28% |
| BBB |
9.30% |
| BBB- |
15.36% |
| BB+ |
7.00% |
| BB |
7.26% |
| BB- |
9.78% |
| B+ |
4.47% |
| B |
2.53% |
| B- |
1.37% |
| 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 |
34 |
--- |
| Days Traded at Discount |
130 |
8 |
7 |
--- |
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.
|
|