First Trust Morningstar Dividend Leaders Index Fund (FDL)
Investment Objective/Strategy - The First Trust Morningstar Dividend Leaders Index Fund is an exchange-traded index fund. The investment objective of the Fund is to replicate as closely as possible, before fees and expenses, the price and yield of the Morningstar® Dividend Leaders IndexSM.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The index consists of stocks listed on one of the three major exchanges, NYSE, NYSE Amex or Nasdaq, that have shown dividend consistency and dividend sustainability. Real Estate Investment Trusts (REITs) are not included.
  • Through the application of Morningstar's proprietary multi-step screening process, a universe is identified. The top 100 stocks, based on dividend yield, are selected for the index.
  • The individual holdings are weighted based on each security's shares outstanding, free float factor, and annual indicated dividend per share. The weighting of each holding is capped to enhance portfolio diversification.
  • The index is reconstituted once annually each June and rebalanced four times annually in March, June, September and December.
Fund Overview
Fund TypeEquity Income
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
Fiscal Year-End12/31
ExchangeNYSE Arca
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.46%
Net Expense Ratio*0.45%
* As of 5/3/2021
Expenses are capped contractually at 0.45% per year, at least until April 30, 2022.
Current Fund Data (as of 5/12/2021)
Closing NAV1$34.25
Closing Market Price2$34.24
Bid/Ask Midpoint$34.24
Bid/Ask Discount0.03%
30-Day Median Bid/Ask Spread30.03%
Total Net Assets$1,674,621,942
Outstanding Shares48,900,002
Daily Volume236,503
Average 30-Day Daily Volume202,848
Closing Market Price 52-Week High/Low$35.14 / $23.34
Closing NAV 52-Week High/Low$35.12 / $23.34
Number of Holdings (excluding cash)94
Top Holdings (as of 5/12/2021)*
Holding Percent
AT&T Inc. 10.02%
Verizon Communications Inc. 8.53%
Pfizer Inc. 7.90%
AbbVie Inc. 7.84%
Philip Morris International Inc. 6.65%
Altria Group, Inc. 5.25%
International Business Machines Corporation 5.15%
Broadcom Inc. 4.51%
Citigroup Inc. 3.43%
United Parcel Service, Inc. (Class B) 2.98%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 5/13/2021)4$0.2372
30-Day SEC Yield (as of 4/30/2021)53.80%
Unsubsidized 30-Day SEC Yield (as of 4/30/2021)63.79%
12-Month Distribution Rate (as of 4/30/2021)73.75%
Index Yield (as of 4/30/2021)84.20%
For funds with certain equity strategies, due to the negative economic impact across many industries caused by the COVID-19 outbreak, certain of the issuers of the securities included in the fund may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "12-Month Distribution Rate," which is based on the fund's trailing 12-month ordinary distributions, will likely be higher, and in some cases significantly higher, than the actual 12-month distribution rate achieved by the fund.
Fund Characteristics (as of 4/30/2021)10
Maximum Market Cap.$239,255
Median Market Cap.$11,466
Minimum Market Cap.$2,308
Price/Cash Flow12.20
Bid/Ask Premium/Discount (as of 5/12/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 139 54 25 ---
Days Traded at Discount 114 7 4 ---
Top Sector Exposure (as of 5/12/2021)
Communication Services 19.67%
Financials 19.65%
Health Care 15.87%
Consumer Staples 13.39%
Utilities 13.16%
Information Technology 12.47%
Industrials 3.10%
Materials 1.62%
Consumer Discretionary 1.07%
Hypothetical Growth of $10,000 Since Inception (as of 5/12/2021) *