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First Trust RBA American Industrial Renaissance® ETF (AIRR)
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.
  • To be eligible for inclusion in the index, companies must derive the majority of their revenues from the United States, therefore all securities issued by companies with non-U.S. sales > 25% are excluded. Additionally, securities must be issued by companies that have positive mean 12-months forward earnings consensus estimate.
  • A security must meet the size and liquidity standards of the index according to the index provider.
    • RBA places no limit on the number of constituents included in the index. Typically the process results in 30-60 constituent securities.
  • RBA uses a proprietary portfolio optimization method to weight each individual constituent company.
  • The index is reconstituted and rebalanced quarterly.
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 2/1/2024
Current Fund Data (as of 6/14/2024)
Closing NAV1$68.75
Closing Market Price2$68.80
Bid/Ask Midpoint$68.80
Bid/Ask Premium0.07%
30-Day Median Bid/Ask Spread30.11%
Total Net Assets$1,175,586,989
Outstanding Shares17,100,002
Daily Volume210,288
Average 30-Day Daily Volume183,741
Closing Market Price 52-Week High/Low$73.21 / $46.95
Closing NAV 52-Week High/Low$73.15 / $46.96
Number of Holdings (excluding cash)45
Top Holdings (as of 6/14/2024)*
Holding Percent
Powell Industries, Inc. 4.69%
Dycom Industries, Inc. 4.61%
MasTec, Inc. 4.49%
Clean Harbors, Inc. 4.13%
Sterling Infrastructure Inc. 4.11%
SPX Technologies 3.92%
EMCOR Group, Inc. 3.84%
RBC Bearings Incorporated 3.84%
Primoris Services Corporation 3.71%
Mueller Industries, Inc. 3.70%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 5/31/2024)4

Among 42 funds in the Industrials category. This fund was rated 5 stars/42 funds (3 years), 5 stars/42 funds (5 years), 5 stars/32 funds (10 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 6/17/2024)5$0.0096
30-Day SEC Yield (as of 5/31/2024)60.15%
12-Month Distribution Rate (as of 5/31/2024)70.16%
Index Yield (as of 5/31/2024)80.81%
Fund Characteristics (as of 5/31/2024)9
Maximum Market Cap.$20,878
Median Market Cap.$2,750
Minimum Market Cap.$470
Price/Cash Flow13.82
Bid/Ask Premium/Discount (as of 6/14/2024)
  2023 Q1 2024 Q2 2024 Q3 2024
Days Traded at Premium 155 32 31 ---
Days Traded at Discount 95 29 23 ---
Top Industry Exposure (as of 6/14/2024)
Industrials 90.62%
Financials 9.38%
Hypothetical Growth of $10,000 Since Inception (as of 6/14/2024) *