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First Trust RBA American Industrial Renaissance® ETF (AIRR)
  • 2023 Estimated Capital Gain Distributions
    Please note that none of our First Trust Exchange-Traded Funds are expected to pay a special long-term capital gain distribution in December. Also, none of the First Trust Exchange-Traded 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 - The Fund seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Richard Bernstein Advisors American Industrial Renaissance® Index (the "Index"). The Fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in U.S. equity securities that comprise the Index. The Index is designed to measure the performance of small and mid cap U.S. companies in the industrial and community banking sectors.
There can be no assurance that the Fund's investment objectives will be achieved.
Index Description According to the Index Provider
  • The Richard Bernstein Advisors American Industrial Renaissance® Index is designed to measure the performance of small and mid cap U.S. companies in the industrial and community banking sectors.
  • To construct the index, Richard Bernstein Advisors LLC (RBA) begins with the Russell 2500 Index and eliminates companies not directly related to manufacturing and related infrastructure, and banking.
  • Banks will then be chosen from states considered to be traditional manufacturing hubs.
  • Bank stocks will be limited to a maximum of approximately 10% of the index at rebalance.
  • RBA screens to exclude companies with non-U.S. sales greater than or equal to 25% and for positive 12-month forward earnings estimates.
  • RBA uses a proprietary portfolio optimization method to weight each individual constituent company. No position will exceed approximately 4% of the total index at rebalance. Other criteria:
    • $6 minimum share price
    • $200 million minimum market cap
    • Liquidity of at least $500k trading volume on average each day
  • At each quarter the index is rebalanced such that each segment of the index will be capped at its predetermined weight. If at any time during the year other than the rebalancing date, a security no longer meets the eligibility criteria, or is otherwise determined to have become ineligible for inclusion in the index, the security is removed from the index and is not replaced.
Fund Overview
Fund TypeIndustrials
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End09/30
Inception Price$19.98
Inception NAV$19.98
Rebalance FrequencyQuarterly
Expense Ratio*0.70%
* As of 2/1/2023
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.
Current Fund Data (as of 11/30/2023)
Closing NAV1$51.15
Closing Market Price2$51.23
Bid/Ask Midpoint$51.14
Bid/Ask Discount0.03%
30-Day Median Bid/Ask Spread (as of 11/29/2023)30.18%
Total Net Assets$529,355,359
Outstanding Shares10,350,002
Daily Volume70,774
Average 30-Day Daily Volume86,519
Closing Market Price 52-Week High/Low$55.56 / $43.35
Closing NAV 52-Week High/Low$55.51 / $43.39
Number of Holdings (excluding cash)45
Top Holdings (as of 11/29/2023)*
Holding Percent
Dycom Industries, Inc. 4.51%
Comfort Systems USA, Inc. 4.39%
Federal Signal Corporation 4.19%
Granite Construction Incorporated 4.02%
RBC Bearings Incorporated 3.94%
SPX Technologies 3.94%
EMCOR Group, Inc. 3.81%
Arcosa, Inc. 3.73%
Encore Wire Corporation 3.69%
Hubbell Incorporated 3.65%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 10/31/2023)4

Among 42 funds in the Industrials category. This fund was rated 5 stars/42 funds (3 years), 5 stars/40 funds (5 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 12/1/2023)5$0.0185
30-Day SEC Yield (as of 10/31/2023)60.31%
12-Month Distribution Rate (as of 10/31/2023)70.29%
Index Yield (as of 10/31/2023)81.09%
Fund Characteristics (as of 10/31/2023)9
Maximum Market Cap.$14,486
Median Market Cap.$1,936
Minimum Market Cap.$251
Price/Cash Flow9.79
Bid/Ask Premium/Discount (as of 11/30/2023)
  2022 Q1 2023 Q2 2023 Q3 2023
Days Traded at Premium 147 33 33 46
Days Traded at Discount 104 29 29 17
Top Industry Exposure (as of 11/29/2023)
Industrials 89.23%
Financials 10.77%
Hypothetical Growth of $10,000 Since Inception (as of 11/29/2023) *