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2023 Estimated Capital Gain Distributions
Please note that none of our First Trust Exchange-Traded Funds are expected to pay a special long-term capital gain distribution in December. Also, none of the First Trust Exchange-Traded Funds are expected to pay any special short-term capital gain distributions in December. 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 | 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 3/1/2023
Closing NAV1 | $31.92 |
Closing Market Price2 | $31.95 |
Bid/Ask Midpoint | $31.92 |
Bid/Ask Discount | 0.02% |
30-Day Median Bid/Ask Spread3 | 0.65% |
Total Net Assets | $97,365,222 |
Outstanding Shares | 3,050,002 |
Daily Volume | 15,985 |
Average 30-Day Daily Volume | 34,931 |
Closing Market Price 52-Week High/Low | $33.38 / $29.38 |
Closing NAV 52-Week High/Low | $33.52 / $29.60 |
Number of Holdings (excluding cash) | 139 |
Holding |
Percent |
PALO ALTO NETWORKS Convertible, 0.375%, due 06/01/2025 |
2.71% |
SNAP INC Convertible, 0.125%, due 03/01/2028 |
1.80% |
Wells Fargo & Company, Series L, 7.500% |
1.69% |
ON SEMICONDUCTOR CORP Convertible, 0.50%, due 03/01/2029 |
1.67% |
MONGODB INC Convertible, 0.25%, due 01/15/2026 |
1.63% |
DEXCOM INC Convertible, 0.25%, due 11/15/2025 |
1.53% |
UBER TECHNOLOGIES INC Convertible, 0%, due 12/15/2025 |
1.52% |
LIBERTY MEDIA CORP Convertible, 2.375%, due 09/30/2053 |
1.49% |
WORKIVA INC Convertible, 1.25%, due 08/15/2028 |
1.35% |
WAYFAIR INC Convertible, 1%, due 08/15/2026 |
1.34% |
*Â Excluding cash.Â
Holdings are subject to change.
Past performance is not indicative of future results.
Weighted Average Effective Duration8 | 1.95 Years |
|
Percent |
Convertible Bond |
91.63% |
Mandatory Preferred |
3.22% |
Convertible Preferred |
2.62% |
Cash & Equivalent |
2.53% |
|
2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Days Traded at Premium |
59 |
3 |
0 |
0 |
Days Traded at Discount |
192 |
59 |
62 |
63 |
Technology
|
25.70%
|
Healthcare
|
15.87%
|
Financials
|
12.18%
|
Consumer Discretionary
|
11.67%
|
Media
|
7.71%
|
Industrials
|
6.35%
|
Energy
|
5.50%
|
Utilities
|
5.21%
|
Transportation
|
3.18%
|
Cash
|
2.53%
|
Materials
|
2.18%
|
Telecommunications
|
1.30%
|
Consumer Staples
|
0.62%
|
|
|
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FCVT |
15.63% |
-2.97 |
1.05 |
-0.12 |
0.99 |
ICE BofA All US Convertibles Index |
14.69% |
--- |
1.00 |
0.07 |
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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