First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)
  • 2021 Estimated Capital Gain Distributions
    Certain First Trust Exchange-Traded Funds are expected to pay a short term and/or long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a capital gain distribution, please click here. 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 Horizon Managed Volatility Small/Mid ETF's investment objective is to seek to provide investors with capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in small- and/or mid-capitalization common stocks listed and traded on U.S. national securities exchanges that Horizon Investments, LLC believes exhibit low future expected volatility.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
Fund TypeSmall Cap and Mid Cap Equity
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
Portfolio Manager/Sub-AdvisorHorizon Investments, LLC
Fiscal Year-End07/31
ExchangeNYSE Arca
Inception Price$21.10
Inception NAV$21.10
Expense Ratio0.80%
Current Fund Data (as of 11/29/2021)
Closing NAV1$33.44
Closing Market Price2$33.50
Bid/Ask Midpoint$33.47
Bid/Ask Premium0.09%
30-Day Median Bid/Ask Spread30.12%
Total Net Assets$15,050,040
Outstanding Shares450,002
Daily Volume734
Average 30-Day Daily Volume859
Closing Market Price 52-Week High/Low$34.75 / $27.05
Closing NAV 52-Week High/Low$34.75 / $27.08
Number of Holdings (excluding cash)200
Top Holdings (as of 11/29/2021)*
Holding Percent
Allscripts Healthcare Solutions, Inc. 0.66%
CoreSite Realty Corporation 0.66%
FactSet Research Systems Inc. 0.64%
Ashland Global Holdings Inc. 0.63%
Camden Property Trust 0.63%
Flowers Foods, Inc. 0.63%
IDACORP, Inc. 0.63%
Silgan Holdings Inc. 0.63%
Valvoline Inc. 0.63%
American States Water Company 0.62%

* 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 11/30/2021)4$0.0399
30-Day SEC Yield (as of 10/29/2021)51.05%
12-Month Distribution Rate (as of 10/29/2021)60.76%
Fund Characteristics (as of 10/29/2021)8
Maximum Market Cap.$20,547
Median Market Cap.$6,484
Minimum Market Cap.$1,270
Price/Cash Flow13.11
Bid/Ask Premium/Discount (as of 11/29/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 100 29 1 46
Days Traded at Discount 87 32 62 18
Top Sector Exposure (as of 11/29/2021)
Industrials 20.55%
Real Estate 17.70%
Financials 15.23%
Information Technology 9.66%
Health Care 9.29%
Consumer Discretionary 8.80%
Consumer Staples 5.98%
Materials 5.93%
Utilities 5.53%
Communication Services 1.33%
Hypothetical Growth of $10,000 Since Inception (as of 11/29/2021) *

Month End Performance (as of 10/29/2021)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 1.33% 18.92% 37.93% N/A N/A N/A 35.33%
After Tax Held 1.28% 18.74% 37.45% N/A N/A N/A 34.91%
After Tax Sold 0.79% 11.19% 22.43% N/A N/A N/A 27.23%
Market Price 1.43% 18.95% 38.13% N/A N/A N/A 35.38%
Index Performance **
S&P 1000 Index 3.44% 22.85% 51.76% N/A N/A N/A 55.82%
Quarter End Performance (as of 9/30/2021)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) -1.24% 13.24% 32.87% N/A N/A N/A 33.23%
After Tax Held -1.29% 13.07% 32.41% N/A N/A N/A 32.79%
After Tax Sold -0.73% 7.84% 19.44% N/A N/A N/A 25.51%
Market Price -1.17% 13.24% 32.91% N/A N/A N/A 33.26%
Index Performance **
S&P 1000 Index -2.10% 16.86% 47.66% N/A N/A N/A 54.53%

*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 determined by using the midpoint of the national best bid offer price ("NBBO") 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.

S&P 1000 Index - The Index combines the S&P MidCap 400 Index and the S&P SmallCap 600 Index to form an investable benchmark for the mid- to small-cap segment of the U.S. equity market.

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 market 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).
3 The median bid-ask spread is calculated by identifying the national best bid and national best offer ("NBBO") for the fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
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 Distribution Rate is calculated by dividing the fund's most recent ordinary distribution paid or declared, on an annualized basis, by the NAV price. Distribution rates may vary.
8 All market capitalization numbers are in USD$ Millions.
9 Inception Date is 4/6/2020

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.

Risk Considerations

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 a fund by authorized participants in very large creation/redemption units. If a 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 a fund's net asset value and possibly face delisting.

A fund's shares will change in value, and you could lose money by investing in a fund. One of the principal risks of investing in a fund is market risk. Market risk is the risk that a particular stock owned by a fund, fund shares or stocks in general may fall in value. There can be no assurance that a fund's investment objective will be achieved. The outbreak of the respiratory disease designated as COVID-19 in December 2019 has caused significant volatility and declines in global financial markets, which have caused losses for investors. While the development of vaccines has slowed the spread of the virus and allowed for the resumption of "reasonably" normal business activity in the United States, many countries continue to impose lockdown measures in an attempt to slow the spread. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

In managing a fund's investment portfolio, the portfolio managers will apply investment techniques and risk analyses that may not have the desired result.

As the use of Internet technology has become more prevalent in the course of business, funds have become more susceptible to potential operational risks through breaches in cyber security.

A fund may be a constituent of one or more indices which could greatly affect a fund's trading activity, size and volatility.

A portfolio comprised of low volatility stocks may not produce investment exposure that has lower variability to changes in such stocks' price levels. Low volatility stocks are likely to underperform the broader market during periods of rapidly rising stock prices.

There can be no assurance that the securities held by a fund will stay within a fund's intended market capitalization range.

A fund classified as "non-diversified" may invest a relatively high percentage of its assets in a limited number of issuers. As a result, a 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.

A fund and a fund's advisor may seek to reduce various operational risks through controls and procedures, but it is not possible to completely protect against such risks.

A fund with significant exposure to a single asset class, country, region, industry, or sector may be more affected by an adverse economic or political development than a broadly diversified fund.

Securities of small- and mid-capitalization companies may experience greater price volatility and be less liquid than larger, more established companies.

Trading on the exchange may be halted due to market conditions or other reasons. There can be no assurance that the requirements to maintain the listing of a fund on the exchange will continue to be met or be unchanged.

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.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value