|
|
|
Investment Objective/Strategy - The First Trust New York Municipal High Income ETF's (the "Fund") primary investment objective is to seek to provide current income that is exempt from regular federal income taxes and New York income taxes, and its secondary objective is long-term capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes and New York State and New York City income taxes (collectively, "Municipal Securities").
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | FMNY |
Fund Type | Tax-Free Fixed Income |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon Corp |
CUSIP | 33739P822 |
ISIN | US33739P8225 |
Intraday NAV | FMNYIV |
Fiscal Year-End | 07/31 |
Exchange | NYSE Arca |
Inception | 5/12/2021 |
Inception Price | $30.00 |
Inception NAV | $30.00 |
Total Expense Ratio* | 0.65% |
* As of 12/1/2023
Closing NAV1 | $27.34 |
Closing Market Price2 | $27.36 |
Bid/Ask Midpoint | $27.36 |
Bid/Ask Premium | 0.07% |
30-Day Median Bid/Ask Spread3 | 0.44% |
Total Net Assets | $19,141,074 |
Outstanding Shares | 700,002 |
Daily Volume | 678 |
Average 30-Day Daily Volume | 1,826 |
Closing Market Price 52-Week High/Low | $27.39 / $25.02 |
Closing NAV 52-Week High/Low | $27.35 / $25.01 |
Number of Holdings (excluding cash) | 64 |
Holding |
Percent |
SUFFOLK REGL OFF-TRACK BETTING CORP NY 6%, due 12/01/2053 |
2.79% |
NEW YORK ST TRANSPRTN DEV CORP N/C, 5%, due 12/01/2030 |
2.50% |
PUERTO RICO CMWLTH 4%, due 07/01/2033 |
2.12% |
PUERTO RICO SALES TAX FING CORP 4.329%, due 07/01/2040 |
2.11% |
NEW YORK ST DORM AUTH REVENUES 5%, due 05/01/2038 |
2.09% |
LONG ISLAND NY PWR AUTH ELEC SYS REV 5%, due 09/01/2035 |
2.08% |
NEW YORK ST TRANSPRTN DEV CORP 4%, due 10/01/2030 |
1.92% |
NEW YORK ST URBAN DEV CORP REV 5%, due 03/15/2035 |
1.87% |
HEMPSTEAD TOWN NY LOCAL DEV CORP REV 4%, due 07/01/2036 |
1.83% |
GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS 5%, due 01/01/2050 |
1.82% |
*Â Excluding cash.Â
Holdings are subject to change.
Weighted Average Effective Duration (Includes Short Positions)10 | 6.86 Years |
Weighted Average Effective Duration (Long Positions)10 | 6.86 Years |
Weighted Average Modified Duration11 | 5.67 Years |
Weighted Average Maturity | 13.19 Years |
Weighted Average Price | $104.00 |
Weighted Average Coupon | 4.53% |
Weighted Average Yield-to-Worst12 | 3.72% |
Short Position - US Treasury Futures | 0.00% |
Years |
Percent |
Cash |
0.50% |
0 - 0.99 Years |
5.84% |
2 - 2.99 Years |
3.28% |
3 - 3.99 Years |
1.65% |
4 - 4.99 years |
3.26% |
5 - 5.99 Years |
1.50% |
6 - 6.99 Years |
10.32% |
7 - 7.99 Years |
3.22% |
8 - 8.99 Years |
3.80% |
9 - 9.99 Years |
1.35% |
10 - 14.99 Years |
24.30% |
15 - 19.99 Years |
25.73% |
20 - 24.99 Years |
6.23% |
25 - 29.99 Years |
9.02% |
Credit Quality |
Percent |
Cash |
0.50% |
AAA |
7.41% |
AA |
44.94% |
A |
20.70% |
BBB |
13.92% |
BB |
2.68% |
B |
1.42% |
NR |
8.43% |
The credit quality information presented reflects the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and ratings are not equivalent, the highest rating is used. Sub-investment grade ratings are those rated BB+/Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change.
|
2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
162 |
53 |
30 |
50 |
Days Traded at Discount |
88 |
8 |
33 |
14 |
HIGHER ED
|
15.48%
|
INSURED
|
10.42%
|
DEDICATED TAX
|
9.49%
|
IDB
|
9.13%
|
GO-UNLTD
|
7.73%
|
UTILITY
|
6.65%
|
TOLLROAD
|
5.91%
|
HOSPITAL
|
4.89%
|
WATER & SEWER
|
4.55%
|
LOCAL HSG
|
4.45%
|
|
|
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FMNY |
7.76% |
-1.11 |
0.90 |
-0.53 |
0.99 |
Bloomberg Municipal New York 12-17 Years Index |
8.50% |
--- |
1.00 |
-0.39 |
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 Municipal Bond Index - The Index is a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. Bloomberg Municipal New York 12-17 Years Index - The Index is a sub-index of the Bloomberg Municipal Bond Index that covers the USD-denominated long-term tax-exempt bond market in the four main sectors of state and local general obligation bonds, revenue bonds, insured bonds and prerefunded bonds issued by the State of New York that have an effective maturity between 12-17 years.
|
|
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 professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
|