Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
First Trust Long/Short Equity ETF (FTLS)
Investment Objective/Strategy - The Fund's investment objective is to seek to provide investors with long term total return. The Fund intends to pursue its investment objective by establishing long and short positions in a portfolio of Equity Securities.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
Fund TypeU.S. Equity
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
Fiscal Year-End10/31
ExchangeNYSE Arca
Inception Price$30.00
Inception NAV$30.00
Fees and Expenses
Management Fees: 0.95%
Acquired Fund Fees and Expenses:* 0.01%
Margin Interest Expense and Short Sale Fees: 0.11%
Dividends on Short Sales: 0.41%
Total Annual Expenses: 1.48%
*Acquired fund fees and expenses reflect the fund's pro rata share of the indirect fees and expenses incurred by investing in one or more acquired funds.

Current Fund Data (as of 3/15/2018)
Closing NAV1$40.01
Closing Share Price2$40.08
Bid/Ask Midpoint$40.03
Bid/Ask Premium0.04%
Total Net Assets$156,048,857
Outstanding Shares3,900,002
Daily Volume9,304
Average 30-Day Daily Volume24,222
Closing Share Price 52-Week High/Low$41.72 / $34.48
Closing NAV 52-Week High/Low$41.68 / $34.53
Number of Holdings280
Fund Characteristics - Long Exposure (as of 2/28/2018)7
Maximum Market Cap.$903,783
Median Market Cap.$17,553
Minimum Market Cap.$522
Price/Cash Flow13.24
Fund Characteristics - Short Exposure (as of 2/28/2018)7
Maximum Market Cap.$722,010
Median Market Cap.$13,985
Minimum Market Cap.$676
Price/Cash Flow12.30
Top Holdings - Long Exposure (as of 3/15/2018)
Holding Percent
Apple Inc. 3.06%
Johnson & Johnson 2.53%
Exxon Mobil Corporation 2.26%
Lam Research Corporation 1.99%
KLA-Tencor Corporation 1.86%
Starbucks Corporation 1.83%
The TJX Companies, Inc. 1.82%
NVR, Inc. 1.79%
Hormel Foods Corporation 1.76%
Texas Instruments Incorporated 1.76%

Holdings are subject to change.

Top Holdings - Short Exposure (as of 3/15/2018)
Holding Percent
AvalonBay Communities, Inc. -0.50%
BB&T Corporation -0.46%
Oracle Corporation -0.46%
Prologis, Inc. -0.46%
The Coca-Cola Company -0.45%
The Kraft Heinz Company -0.45%
U.S. Bancorp -0.45%
Wells Fargo & Company -0.45%
Becton, Dickinson and Company -0.43%
Air Products and Chemicals, Inc. -0.40%

Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 2/28/2018)3

Among 193 funds in the Long-Short Equity category. This fund was rated 4 stars/193 funds (3 years).
Distribution Information
Dividend per Share Amt (as of 3/18/2018)4$0.0349
30-Day SEC Yield (as of 2/28/2018)50.33%
12-Month Distribution Rate (as of 2/28/2018)60.43%
Bid/Ask Midpoint vs. NAV (as of 12/31/2017)
Number of Days Bid/Ask Midpoint Above NAV
Quarter Ended 0-49
Basis Points
Basis Points
Basis Points
Basis Points
12/31/2017 53 0 0 0
9/30/2017 38 0 0 0
6/30/2017 33 0 0 0
3/31/2017 48 0 0 0
Number of Days Bid/Ask Midpoint Below NAV
Quarter Ended 0-49
Basis Points
Basis Points
Basis Points
Basis Points
12/31/2017 10 0 0 0
9/30/2017 25 0 0 0
6/30/2017 30 0 0 0
3/31/2017 14 0 0 0

The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated.

Fund Exposure (as of 3/15/2018)
Long Exposure99.85%
Short Exposure-27.04%
Net Exposure72.81%
Top Sector - Long Exposure (as of 3/15/2018)
Information Technology 22.88%
Consumer Discretionary 16.00%
Health Care 15.12%
Industrials 12.33%
Consumer Staples 11.23%
Materials 8.03%
Energy 6.79%
Financials 5.98%
Telecommunication Services 1.49%
Top Sector - Short Exposure (as of 3/15/2018)
Information Technology -4.40%
Consumer Discretionary -3.96%
Health Care -3.73%
Industrials -3.63%
Financials -2.62%
Consumer Staples -2.41%
Real Estate -2.07%
Materials -2.06%
Energy -1.40%
Telecommunication Services -0.44%
Utilities -0.32%
Month End Performance (as of 2/28/2018)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 1.53% 0.43% 12.90% 7.35% N/A N/A 8.96%
After Tax Held 1.49% 0.43% 12.67% 7.04% N/A N/A 8.61%
After Tax Sold 0.87% 0.25% 7.29% 5.53% N/A N/A 6.81%
Market Price 1.58% 0.48% 12.82% 7.38% N/A N/A 8.98%
Index Performance
S&P 500 Index 2.96% 1.83% 17.10% 11.14% N/A N/A 11.46%
Quarter End Performance (as of 12/29/2017)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 5.84% 14.10% 14.10% 8.64% N/A N/A 9.27%
After Tax Held 5.79% 13.87% 13.87% 8.32% N/A N/A 8.91%
After Tax Sold 3.30% 7.97% 7.97% 6.55% N/A N/A 7.04%
Market Price 5.86% 14.00% 14.00% 8.49% N/A N/A 9.28%
Index Performance
S&P 500 Index 6.64% 21.83% 21.83% 11.41% N/A N/A 11.44%
3-Year Statistics (as of 2/28/2018)
  Standard Deviation Alpha Beta Sharpe Ratio Correlation
FTLS 7.42% -0.03 0.65 0.94 0.90
S&P 500 Index 10.16% --- 1.00 1.05 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.

*Performance data quoted represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than their original cost.

After Tax Held returns represent return after taxes on distributions. Assumes shares have not been sold. After Tax Sold returns represent the return after taxes on distributions and the sale of fund shares. Returns do not represent the returns you would receive if you traded shares at other times. Market Price returns are based on the midpoint of the bid/ask spread on the stock exchange on which shares of the fund are listed for trading as of the time that the fund’s NAV is calculated. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

Indexes do not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the performance shown. Indexes are unmanaged and an investor cannot invest directly in an index.
Total Annual Expenses are 1.48%. Management fees are 0.95%, acquired fund fees and expenses are 0.01%, margin interest expense and short sale fees are 0.11% and dividends on short sales are 0.41%.

S&P 500 Index - The Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.

1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's outstanding shares .
2 Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
4 Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.
5 The 30-day SEC yield is calculated by dividing the net investment income per share earned during the most recent 30-day period by the maximum offering price per share on the last day of the period and includes the effects of fee waivers and expense reimbursements, if applicable.
6 12-Month Distribution Rate is calculated by dividing the sum of the fund's trailing 12-month ordinary distributions paid or declared by the NAV price. Distribution rates may vary.
7 All market capitalization numbers are in USD$ Millions.
8 Inception Date is 9/8/2014

You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on the NYSE Arca, Inc.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. Market prices may differ to some degree from the net asset value of the shares. Investors who sell fund shares may receive less than the share's net asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, unlike mutual funds, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units. If the fund's authorized participants are unable to proceed with creation/redemption orders and no other authorized participant is able to step forward to create or redeem, fund shares may trade at a discount to the fund's net asset value and possibly face delisting.

Risk Considerations

The fund's shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular security owned by the fund, fund shares or securities in general may fall in value. The fund is subject to management risk because it is an actively managed portfolio. In managing the fund's investment portfolio, the advisor will apply investment techniques and risk analyses that may not have the desired result. There can be no assurance that the fund's investment objective will be achieved.

An investment in a fund containing securities of non-U.S. issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers. The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market.

Shorting may result in greater gains or greater losses. Short selling creates special risks which could result in increased volatility of returns. Because losses on short sales arise from increases in the value of the security sold short, such losses are theoretically unlimited.

The fund may invest in the shares of other ETFs, and therefore, the fund's investment performance and risks may be related to the investment performance and risks of the underlying ETFs. In general, as a shareholder in other ETFs, the fund bears its ratable share of the underlying ETF's expenses, and would be subject to duplicative expenses to the extent the fund invests in other ETFs.

The use of futures and other derivatives can lead to losses because of adverse movements in the price or value of the underlying asset, index or rate, which may be magnified by certain features of the derivatives. These risks are heightened when the fund's portfolio managers use derivatives to enhance the fund's return or as a substitute for a position or security, rather than solely to hedge (or offset) the risk of a position or security held by the fund.

The fund is classified as "non-diversified" and may invest a relatively high percentage of its assets in a limited number of issuers. As a result, the fund may be more susceptible to a single adverse economic or regulatory occurrence affecting one or more of these issuers, experience increased volatility and be highly concentrated in certain issuers.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P., the fund's distributor.

©2018 Morningstar, Inc. All Rights Reserved. The Morningstar RatingTM information contained herein: (1) is proprietary to Morningstar;(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
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 and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
Home |  Important Legal Information |  Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2018 All rights reserved.