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 | Bank of New York Mellon Corp |
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% |
* As of 3/1/2024
Closing NAV1 | $34.19 |
Closing Market Price2 | $34.06 |
Bid/Ask Midpoint | $34.12 |
Bid/Ask Discount | 0.20% |
30-Day Median Bid/Ask Spread (as of 7/25/2024)3 | 0.35% |
Total Net Assets | $80,353,019 |
Outstanding Shares | 2,350,002 |
Daily Volume | 3,154 |
Average 30-Day Daily Volume | 17,507 |
Closing Market Price 52-Week High/Low | $35.02 / $29.38 |
Closing NAV 52-Week High/Low | $35.20 / $29.60 |
Number of Holdings (excluding cash) | 132 |
Holding |
Percent |
NEXTERA ENERGY CAPITAL Convertible, 3%, due 03/01/2027 |
2.35% |
Wells Fargo & Company, Series L, 7.500% |
1.85% |
INSMED INC Convertible, 0.75%, due 06/01/2028 |
1.75% |
UBER TECHNOLOGIES INC Convertible, 0.875%, due 12/01/2028 |
1.74% |
LIBERTY MEDIA CORP Convertible, 2.375%, due 09/30/2053 |
1.70% |
ROYAL CARIBBEAN CRUISES Convertible, 6%, due 08/15/2025 |
1.69% |
MORGAN STANLEY FIN LLC Convertible, 0.125%, due 02/07/2028 |
1.60% |
PALO ALTO NETWORKS Convertible, 0.375%, due 06/01/2025 |
1.56% |
Bank of America Corporation, Series L, 7.25% |
1.51% |
Apollo Global Management, Inc., 6.75%, Due 07/31/2026 |
1.38% |
*Â Excluding cash.Â
Holdings are subject to change.
Past performance is not indicative of future results.
Weighted Average Effective Duration4 | 1.42 Years |
|
Percent |
Convertible Bond |
92.87% |
Convertible Preferred |
3.71% |
Mandatory Preferred |
2.63% |
Cash & Equivalent |
0.79% |
|
2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
10 |
4 |
8 |
0 |
Days Traded at Discount |
240 |
57 |
55 |
19 |
Technology
|
29.75%
|
Health Care
|
16.55%
|
Consumer Discretionary
|
14.88%
|
Financials
|
11.66%
|
Industrials
|
7.44%
|
Utilities
|
5.19%
|
Transportation
|
3.68%
|
Media
|
3.13%
|
Materials
|
3.04%
|
Consumer Staples
|
1.85%
|
Energy
|
1.55%
|
Cash & Accrued Income
|
0.79%
|
Telecommunications
|
0.49%
|
|
|
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FCVT |
12.97% |
-2.60 |
1.01 |
-0.56 |
0.99 |
ICE BofA All US Convertibles Index |
12.62% |
--- |
1.00 |
-0.37 |
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.
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. ICE BofA All US Convertibles Index - The Index measures the return of all U.S. convertibles.
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