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Investment Objective/Strategy - The First Trust TCW Securitized Plus ETF seeks to maximize long-term total return. Under normal market conditions, the Fund will invest at least 80% of its net assets (including investment borrowings) in securitized debt securities, including asset-backed securities, residential and commercial mortgage-backed securities and collateralized loan obligations ("CLOs"). The Fund's investment sub-advisor, TCW Investment Management Company LLC ("TCW" or the "Sub-Advisor") seeks to outperform the Bloomberg Barclays U.S. Mortgage-Backed Securities Index over a full market cycle through the utilization of independent, bottom-up research to identify securities that are undervalued and that offer a superior risk/reward profile. Under normal conditions, the Fund's average portfolio duration varies within two years (plus or minus) of the portfolio duration of the securities comprising the Bloomberg Barclays U.S. Mortgage-Backed Securities Index. As a separate measure, there is no limit on the weighted average maturity of the Fund's portfolio. While maturity refers to the expected life of a security, duration is a measure of the expected price volatility of a debt security as a result of changes in market rates of interest.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | DEED |
Fund Type | Mortgage-Backed Securities |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon Corp |
Portfolio Manager/Sub-Advisor | TCW Investment Management Company LLC |
CUSIP | 33740U109 |
ISIN | US33740U1097 |
Intraday NAV | DEEDIV |
Fiscal Year-End | 08/31 |
Exchange | NYSE Arca |
Inception | 4/29/2020 |
Inception Price | $25.00 |
Inception NAV | $25.00 |
Expense Ratio* | 0.75% |
* As of 1/1/2023
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's SAI for full details.
Closing NAV1 | $21.99 |
Closing Market Price2 | $21.89 |
Bid/Ask Midpoint | $21.88 |
Bid/Ask Discount | 0.50% |
30-Day Median Bid/Ask Spread3 | 0.14% |
Total Net Assets | $103,375,987 |
Outstanding Shares | 4,700,002 |
Daily Volume | 100,191 |
Average 30-Day Daily Volume | 39,871 |
Closing Market Price 52-Week High/Low | $25.34 / $20.43 |
Closing NAV 52-Week High/Low | $25.30 / $20.54 |
Number of Holdings (excluding cash) | 272 |
Holding |
Percent |
Fannie Mae or Freddie Mac TBA, 5%, due 09/01/2052 |
7.22% |
Fannie Mae or Freddie Mac TBA, 2%, due 02/01/2052 |
6.31% |
Fannie Mae or Freddie Mac TBA, 2.50%, due 03/01/2052 |
5.77% |
GNMA TBA, 2.50%, due 02/01/2052 |
5.12% |
U.S. Treasury Bill, 0%, due 07/20/2023 |
3.04% |
GNMA TBA, 2.50%, due 02/01/2052 |
2.58% |
Fannie Mae FN BQ7056, 2%, due 01/01/2052 |
2.25% |
Fannie Mae FN CB3151, 2%, due 03/01/2052 |
2.05% |
GNMA TBA, 4.50%, due 08/01/2052 |
1.86% |
Fannie Mae FN MA4437, 2%, due 10/01/2051 |
1.73% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
Weighted Average Effective Duration8 | 6.33 Years |
Weighted Average Maturity | 8.53 Years |
|
Percent |
Agency MBS |
67.55% |
Non-Agency MBS |
36.36% |
ABS |
16.17% |
CMBS |
12.23% |
US Government/Agency |
0.46% |
Other |
-0.14% |
Cash & Equivalents |
-32.63% |
Years |
Percent |
0-1 Year |
-28.94% |
1-3 Years |
15.18% |
3-5 Years |
16.51% |
5-7 Years |
25.25% |
7-9 Years |
38.89% |
10-20 Years |
33.03% |
>20 Years |
0.08% |
|
2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Days Traded at Premium |
52 |
0 |
--- |
--- |
Days Traded at Discount |
199 |
20 |
--- |
--- |
Government/Agency
|
35.45%
|
AAA
|
5.81%
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AA+
|
1.50%
|
AA
|
4.85%
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AA-
|
2.78%
|
A+
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0.40%
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A
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1.93%
|
A-
|
1.69%
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BBB
|
3.06%
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BBB-
|
1.86%
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BB
|
5.89%
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BB-
|
1.13%
|
B+
|
0.60%
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B
|
2.02%
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B-
|
4.35%
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CCC+
|
1.00%
|
CCC
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6.57%
|
CCC-
|
2.57%
|
CC
|
10.31%
|
C
|
3.18%
|
D
|
3.05%
|
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The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, 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 lowest ratings are used. Sub-investment grade ratings are those rated BB /Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. 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. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under "Government/Agency". Credit ratings are subject to change.
Bloomberg US Mortgage Backed Securities Index - The Index tracks agency mortgage backed pass-through securities (both fixed-rate and hybrid ARM) guaranteed by Ginnie Mae, Fannie Mae, and Freddie Mac.
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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.
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