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2019 Estimated Capital Gain Distributions
Certain First Trust Exchange-Traded Funds are expected to pay a short term and/or long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a capital gain distribution, please click here. 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 First Trust SSI Strategic Convertible Securities ETF is an actively managed exchange-traded fund that seeks to deliver total return by investing, under normal market conditions, at least 80% of its net assets in a diversified portfolio of U.S. and non-U.S. convertible securities.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | FCVT |
Fund Type | Convertible Securities |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Brown Brothers Harriman |
Portfolio Manager/Sub-Advisor | SSI Investment Management LLC |
CUSIP | 33739Q507 |
ISIN | US33739Q5071 |
Intraday NAV | FCVTIV |
Fiscal Year-End | 10/31 |
Exchange | Nasdaq |
Inception | 11/3/2015 |
Inception Price | $25.00 |
Inception NAV | $25.00 |
Expense Ratio | 0.95% |
Closing NAV1 | $32.65 |
Closing Market Price2 | $32.61 |
Bid/Ask Midpoint | $32.66 |
Bid/Ask Premium | 0.03% |
Total Net Assets | $213,860,799 |
Outstanding Shares | 6,550,002 |
Daily Volume | 11,871 |
Average 30-Day Daily Volume | 64,412 |
Closing Market Price 52-Week High/Low | $32.78 / $26.47 |
Closing NAV 52-Week High/Low | $32.68 / $26.62 |
Number of Holdings (excluding cash) | 133 |
Weighted Average Effective Duration6 | 2.27 Years |
Holding |
Percent |
Wells Fargo & Company, Series L, 7.50% |
2.89% |
Bank of America Corporation, Series L, 7.25% |
2.58% |
Broadcom Inc., Series A, 8.00%, Due 09/30/2022 |
2.00% |
MICROCHIP TECHNOLOGY INC Convertible, 1.625%, due 02/15/2027 |
1.84% |
AKAMAI TECHNOLOGIES INC Convertible, 0.125%, due 05/01/2025 |
1.78% |
DEXCOM INC Convertible, 0.75%, due 12/01/2023 |
1.71% |
Becton, Dickinson and Company, Series A, 6.125%, Due 05/01/2020 |
1.62% |
INSULET CORPORATION Convertible, 0.375%, due 09/01/2026 |
1.58% |
SPLUNK INC Convertible, 0.50%, due 09/15/2023 |
1.47% |
MICROCHIP TECHNOLOGY INC Convertible, 1.625%, due 02/15/2025 |
1.46% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
Number of Days Bid/Ask Midpoint Above NAV
Quarter Ended |
0-49 Basis Points |
50-99 Basis Points |
100-199 Basis Points |
>=200 Basis Points |
9/30/2019 |
13 |
1 |
0 |
0 |
6/30/2019 |
12 |
0 |
0 |
0 |
3/31/2019 |
18 |
1 |
0 |
0 |
12/31/2018 |
23 |
7 |
0 |
0 |
Number of Days Bid/Ask Midpoint Below NAV
Quarter Ended |
0-49 Basis Points |
50-99 Basis Points |
100-199 Basis Points |
>=200 Basis Points |
9/30/2019 |
49 |
1 |
0 |
0 |
6/30/2019 |
49 |
2 |
0 |
0 |
3/31/2019 |
41 |
1 |
0 |
0 |
12/31/2018 |
24 |
7 |
1 |
1 |
The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated.
|
Percent |
Convertible Bond |
79.09% |
Mandatory Preferred |
13.52% |
Convertible Preferred |
6.28% |
Cash & Equivalent |
1.11% |
Information Technology
|
33.62%
|
Health Care
|
18.88%
|
Communication Services
|
10.70%
|
Financials
|
8.57%
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Consumer Discretionary
|
7.97%
|
Utilities
|
6.12%
|
Industrials
|
5.68%
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Energy
|
2.81%
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Real Estate
|
2.29%
|
Consumer Staples
|
1.17%
|
Cash & Equivalent
|
1.11%
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Materials
|
1.08%
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FCVT |
8.71% |
-1.23 |
1.03 |
1.00 |
0.99 |
ICE BofAML All US Convertibles Index |
8.34% |
--- |
1.00 |
1.16 |
1.00 |
Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms
on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure
of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.
ICE BofAML All US Convertibles Index - The Index measures the return of all U.S. convertibles.
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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 advisors 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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