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 | $24.96 |
| Closing Market Price2 | $24.96 |
| Bid/Ask Midpoint | $24.98 |
| Bid/Ask Premium | 0.08% |
| 30-Day Median Bid/Ask Spread (as of 4/8/2026)3 | 0.04% |
| Total Net Assets | $3,242,394,075 |
| Outstanding Shares | 129,900,002 |
| Daily Volume | 540,242 |
| Average 30-Day Daily Volume | 667,658 |
| Closing Market Price 52-Week High/Low | $25.38 / $24.47 |
| Closing NAV 52-Week High/Low | $25.33 / $24.54 |
| Number of Holdings (excluding cash) | 475 |
| Holding |
Percent |
| U.S. Treasury Note, 3.375%, due 02/29/2028 |
2.99% |
| U.S. Treasury Bond, 4.625%, due 11/15/2045 |
2.20% |
| U.S. Treasury Bond, 4.625%, due 11/15/2055 |
2.15% |
| U.S. Treasury Note, 4.125%, due 02/15/2036 |
2.08% |
| U.S. Treasury Note, 4.25%, due 01/31/2030 |
1.49% |
| U.S. Treasury Note, 3.50%, due 10/31/2027 |
1.22% |
| U.S. Treasury Note, 3.50%, due 01/31/2028 |
1.02% |
| Fannie Mae FN BM7755, 4%, due 06/01/2064 |
1.00% |
| Fannie Mae Series 2024-82, Class CF, Variable rate, due 11/25/2054 |
0.82% |
| THE BOEING CO 7.008%, due 05/01/2064 |
0.81% |
*Â Excluding cash.Â
Holdings are subject to change.
|
Percent |
| Corporate |
61.87% |
| Securitized |
14.69% |
| Treasury |
14.58% |
| Preferred |
5.99% |
| Term Loans |
2.46% |
| Cash & Equivalents |
0.41% |
| Weighted Average Effective Duration8 | 4.46 Years |
| Weighted Average Maturity | 9.72 Years |
| Weighted Average Yield-to-Worst9 | 5.48% |
| Years |
Percent |
| 0 - 0.99 Years |
0.31% |
| 1 - 2.99 Years |
17.96% |
| 3 - 4.99 Years |
25.52% |
| 5 - 6.99 Years |
11.03% |
| 7 - 9.99 Years |
18.27% |
| 10 - 19.99 Years |
8.90% |
| 20 Years & Over |
18.01% |
| Credit Quality |
Percent |
| Government/Agency |
27.53% |
| AAA |
0.30% |
| AA+ |
0.24% |
| AA |
0.88% |
| AA- |
1.28% |
| A+ |
3.80% |
| A |
2.75% |
| A- |
3.56% |
| BBB+ |
3.51% |
| BBB |
8.77% |
| BBB- |
15.82% |
| BB+ |
6.55% |
| BB |
6.79% |
| BB- |
9.85% |
| B+ |
4.17% |
| B |
2.39% |
| B- |
1.64% |
| CCC+ |
0.15% |
| 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 |
2 |
--- |
| Days Traded at Discount |
130 |
8 |
4 |
--- |
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. ICE BofA US Dollar 3-Month Deposit Offered Rate Average Index - The Index is a 3-month average of the interest rate that the banks in the index, determined by the ICE Benchmark Administration, pay when they borrow on an unsecured basis.
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