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% |
* As of 3/1/2023
Closing NAV1 | $31.89 |
Closing Market Price2 | $31.74 |
Bid/Ask Midpoint | $31.72 |
Bid/Ask Discount | 0.53% |
30-Day Median Bid/Ask Spread3 | 0.57% |
Total Net Assets | $103,650,842 |
Outstanding Shares | 3,250,002 |
Daily Volume | 11,928 |
Average 30-Day Daily Volume | 19,061 |
Closing Market Price 52-Week High/Low | $34.83 / $30.71 |
Closing NAV 52-Week High/Low | $34.82 / $30.86 |
Number of Holdings (excluding cash) | 122 |
Holding |
Percent |
DEXCOM INC Convertible, 0.25%, due 11/15/2025 |
3.33% |
PALO ALTO NETWORKS Convertible, 0.375%, due 06/01/2025 |
2.42% |
ON SEMICONDUCTOR CORP Convertible, 0.50%, due 03/01/2029 |
2.27% |
SNAP INC Convertible, 0.125%, due 03/01/2028 |
1.96% |
Wells Fargo & Company, Series L, 7.500% |
1.93% |
ETSY INC Convertible, 0.125%, due 09/01/2027 |
1.70% |
Nextera Energy, Inc., 6.926%, Due 09/01/2025 |
1.51% |
SPLUNK INC Convertible, 1.125%, due 09/15/2025 |
1.51% |
ROYAL CARIBBEAN CRUISES Convertible, 6%, due 08/15/2025 |
1.47% |
UBER TECHNOLOGIES INC Convertible, 0%, due 12/15/2025 |
1.36% |
*Â Excluding cash.Â
Holdings are subject to change.
Past performance is not indicative of future results.
Weighted Average Effective Duration8 | 1.86 Years |
|
Percent |
Convertible Bond |
87.67% |
Mandatory Preferred |
7.99% |
Convertible Preferred |
2.65% |
Cash & Equivalent |
1.69% |
|
2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Days Traded at Premium |
59 |
3 |
0 |
--- |
Days Traded at Discount |
192 |
59 |
43 |
--- |
Information Technology
|
27.80%
|
Health Care
|
20.91%
|
Consumer Discretionary
|
11.77%
|
Communication Services
|
9.38%
|
Industrials
|
7.75%
|
Financials
|
5.73%
|
Energy
|
4.92%
|
Utilities
|
3.87%
|
Real Estate
|
2.32%
|
Materials
|
2.30%
|
Cash & Equivalent
|
1.69%
|
Consumer Staples
|
1.56%
|
|
|
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FCVT |
16.90% |
-2.14 |
1.06 |
0.51 |
0.99 |
ICE BofA All US Convertibles Index |
15.84% |
--- |
1.00 |
0.64 |
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 BofA All US Convertibles Index - The Index measures the return of all U.S. convertibles.
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