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2024 Estimated Capital Gain Distributions
Certain First Trust First Trust Exchange-Traded Funds are expected to pay a long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a long-term capital gain distribution, please click here. Also, certain First Trust Exchange-Traded Funds are expected to pay short-term capital gain distributions in December. For a list of exchange-traded funds expected to pay a short-term 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 Low Duration Opportunities ETF is an actively managed exchange-traded fund. The Fund's primary objective is to generate current income with a secondary objective of capital appreciation.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | LMBS |
Fund Type | Mortgage-Backed Securities |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | BNY Mellon Investment Servicing (US) Inc. |
CUSIP | 33739Q200 |
ISIN | US33739Q2003 |
Intraday NAV | LMBSIV |
Fiscal Year-End | 10/31 |
Exchange | Nasdaq |
Inception | 11/4/2014 |
Inception Price | $50.00 |
Inception NAV | $50.00 |
Total Expense Ratio* | 0.64% |
* As of 3/1/2024
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's Statement of Additional Information for full details.
Closing NAV1 | $49.03 |
Closing Market Price2 | $49.07 |
Bid/Ask Midpoint | $49.07 |
Bid/Ask Premium | 0.07% |
30-Day Median Bid/Ask Spread3 | 0.02% |
Total Net Assets | $4,692,531,758 |
Outstanding Shares | 95,700,002 |
Daily Volume | 389,916 |
Average 30-Day Daily Volume | 482,290 |
Closing Market Price 52-Week High/Low | $49.61 / $47.58 |
Closing NAV 52-Week High/Low | $49.59 / $47.55 |
Number of Holdings (excluding cash) | 1049 |
Holding |
Percent |
Fannie Mae or Freddie Mac TBA, 3%, due 02/01/2052 |
2.39% |
Fannie Mae or Freddie Mac TBA, 5%, due 07/01/2054 |
1.67% |
Fannie Mae or Freddie Mac TBA, 5.50%, due 05/01/2054 |
1.67% |
Fannie Mae FN FM3003, 4%, due 05/01/2049 |
1.61% |
Fannie Mae or Freddie Mac TBA, 4%, due 05/01/2052 |
1.45% |
Fannie Mae FN FM2972, 4%, due 12/01/2044 |
1.39% |
U.S. Treasury Note, 4.125%, due 07/31/2028 |
1.25% |
U.S. Treasury Note, 4.625%, due 10/15/2026 |
0.97% |
U.S. Treasury Note, 4.125%, due 02/15/2027 |
0.88% |
U.S. Treasury Note, 4.50%, due 04/15/2027 |
0.82% |
*Â Excluding cash.Â
Holdings are subject to change.
Bond Futures - Net | -15.85% |
Options on Bond Futures - Net | -0.29% |
Options on Interest Rate Futures - Net | -0.03% |
TBAs - Short | -1.53% |
Among 90 funds in the Short Government category. This fund was rated 5 stars/90 funds (3 years), 5 stars/85 funds (5 years), 5 stars/77 funds (10 years) based on risk adjusted returns.
Weighted Average Effective Duration (Long Positions)9 | 5.17 Years |
Weighted Average Effective Duration (Short Positions)9 | -2.89 Years |
Weighted Average Effective Net Duration9 | 2.28 Years |
Weighted Average Yield-to-Worst10 | 4.93% |
|
Percent |
Agency CMOs |
42.04% |
Agency Pass-Throughs |
20.16% |
Agency CMBS |
12.31% |
TBAs - Long |
8.13% |
U.S. Treasuries |
4.46% |
Cash & Cash Equivalents |
4.09% |
Non-Agency RMBS |
3.91% |
Non-Agency CMBS |
2.85% |
ABS |
1.99% |
ETFs |
0.06% |
Credit Quality |
Percent |
Cash & Cash Equivalents |
4.09% |
U.S. Treasuries |
4.46% |
Agency |
82.70% |
AAA |
7.27% |
AA+ |
0.24% |
AA |
0.11% |
AA- |
0.19% |
A+ |
0.11% |
A |
0.15% |
A- |
0.06% |
BBB |
0.09% |
BBB- |
0.28% |
BB+ |
0.25% |
The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO, of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. 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. U.S. Agency and U.S. Agency mortgage-backed securities appear under "Agency". Credit ratings are subject to change.
|
2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
45 |
36 |
44 |
53 |
Days Traded at Discount |
205 |
25 |
19 |
11 |
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
LMBS |
3.33% |
1.57 |
0.89 |
-0.34 |
0.88 |
ICE BofA 1-5 year US Treasury & Agency Index |
3.29% |
--- |
1.00 |
-0.97 |
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 US Aggregate Bond Index - The Index covers the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, MBS, ABS, and CMBS. ICE BofA 1-5 year US Treasury & Agency Index - The Index measures the performance of US dollar denominated US Treasury and non-subordinated US agency debt.
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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.
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