|
|
|
Investment Objective/Strategy - The First Trust Commercial Mortgage Opportunities ETF (the "Fund") seeks to maximize long-term total return. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in commercial mortgage-backed securities ("CMBS").
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | CAAA |
Fund Type | Mortgage-Backed Securities |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon Corp |
CUSIP | 33738D762 |
ISIN | US33738D7628 |
Intraday NAV | CAAAIV |
Fiscal Year-End | 07/31 |
Exchange | NYSE Arca |
Inception | 2/27/2024 |
Inception Price | $20.00 |
Inception NAV | $20.00 |
Total Expense Ratio* | 0.55% |
* As of 2/28/2024
Closing NAV1 | $20.46 |
Closing Market Price2 | $20.47 |
Bid/Ask Midpoint | $20.47 |
Bid/Ask Premium | 0.05% |
30-Day Median Bid/Ask Spread3 | 0.24% |
Total Net Assets | $15,344,999 |
Outstanding Shares | 750,002 |
Daily Volume | 0 |
Average 30-Day Daily Volume | 1,783 |
Closing Market Price 52-Week High/Low | $20.82 / $19.87 |
Closing NAV 52-Week High/Low | $20.82 / $19.84 |
Number of Holdings (excluding cash) | 52 |
Holding |
Percent |
Barclays Commercial Mortgage Securities LLC Series 2018-TALL, Class A, Variable rate, due 03/15/2037 |
3.71% |
Barclays Commercial Mortgage Securities LLC Series 2023-C22, Class A4, 6.521%, due 11/15/2056 |
3.64% |
BPR Trust Series 2023-STON, Class A, 7.497%, due 12/05/2039 |
3.41% |
Manhattan West Series 2020-OMW, Class A, 2.13%, due 09/10/2040 |
3.30% |
Wells Fargo Commercial Mortgage Trust Series 2018-C47, Class A4, 4.442%, due 09/15/2061 |
3.23% |
Barclays Commercial Mortgage Securities LLC Series 2022-C16, Class A5, Variable rate, due 06/15/2055 |
3.21% |
KNDR Trust 2021-KIND Series 2021-KIND, Class A, Variable rate, due 08/15/2038 |
3.19% |
NYO Commercial Mortgage Trust Series 2021-1290, Class A, Variable rate, due 11/15/2038 |
3.19% |
Bank Series 2018-BN13, Class A4, 3.953%, due 08/15/2061 |
3.16% |
Aventura Mall Trust Series 2019-AVM, Class A, Variable rate, due 07/05/2040 |
3.03% |
*Â Excluding cash.Â
Holdings are subject to change.
Weighted Average Effective Duration (Long Positions)7 | 3.91 Years |
Weighted Average Effective Duration (Short Positions)7 | -0.06 Years |
Weighted Average Effective Net Duration7 | 3.85 Years |
Weighted Average Yield-to-Worst8 | 4.90% |
Option-Adjusted Spread9 | 142 bps |
Bond Futures - Net | 18.79% |
Options on Bond Futures - Net | 0.00% |
Options on Interest Rate Futures - Net | 0.00% |
TBAs - Short | 0.00% |
|
Percent |
Non-Agency CMBS |
97.64% |
Agency CMBS |
1.08% |
Cash & Cash Equivalents |
1.02% |
U.S. Treasuries |
0.26% |
Credit Quality |
Percent |
Cash & Cash Equivalents |
1.02% |
U.S. Treasuries |
0.26% |
Agency |
1.08% |
AAA |
96.30% |
AA- |
1.34% |
The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO, of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the fund, and not to the fund or its shares. U.S. Agency and U.S. Agency mortgage-backed securities appear under "Agency". Credit ratings are subject to change.
|
2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
--- |
20 |
61 |
61 |
Days Traded at Discount |
--- |
2 |
2 |
3 |
Bloomberg Non-Agency Investment Grade CMBS: US Aggregate Eligible Aaa Index - The Index is a subset of the Bloomberg Non-Agency Commercial Mortgage-Backed Securities Total Return Unhedged USD Index. Its constituents are high quality and highly liquid bonds. 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.
|
|
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
|