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Investment Objective/Strategy - The First Trust Merger Arbitrage 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 establishing long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | MARB |
Fund Type | Market Neutral |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Brown Brothers Harriman |
Portfolio Manager/Sub-Advisor | First Trust Capital Management L.P. |
CUSIP | 33740J203 |
ISIN | US33740J2033 |
Intraday NAV | MARBIV |
Fiscal Year-End | 07/31 |
Exchange | NYSE Arca |
Inception | 2/4/2020 |
Inception Price | $20.01 |
Inception NAV | $20.01 |
Management Fees | 1.25% |
Other Expenses | 0.62% |
Total Annual Expenses | 1.87% |
As of Date 12/1/2022
"Other Expenses" consist of margin interest expense and dividend expense on investments sold short.
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 | $20.17 |
Closing Market Price2 | $20.14 |
Bid/Ask Midpoint | $20.15 |
Bid/Ask Discount | 0.10% |
30-Day Median Bid/Ask Spread3 | 0.15% |
Total Net Assets | $69,573,456 |
Outstanding Shares | 3,450,002 |
Daily Volume | 12,322 |
Average 30-Day Daily Volume | 23,336 |
Closing Market Price 52-Week High/Low | $20.46 / $19.60 |
Closing NAV 52-Week High/Low | $20.42 / $19.61 |
Number of Holdings (excluding cash) | 28 |
Holding |
Percent |
Activision Blizzard, Inc. |
7.87% |
Horizon Therapeutics Plc |
6.13% |
Albertsons Companies, Inc. (Class A) |
5.55% |
Amedisys, Inc. |
4.58% |
Avantax Inc. |
3.86% |
Argo Group International Holdings, Ltd. |
3.50% |
Sovos Brands, Inc. |
3.49% |
Denbury Inc. |
3.48% |
Hostess Brands, Inc. (Class A) |
3.20% |
New Relic, Inc. |
3.17% |
*Â Excluding cash.Â
Holdings are subject to change.
Holding |
Percent |
Exxon Mobil Corporation |
-3.51% |
Kimco Realty Corporation |
-3.17% |
Permian Resources Corp. |
-3.15% |
Provident Financial Services, Inc. |
-2.35% |
The J.M. Smucker Company |
-0.35% |
*Â Excluding cash.Â
Holdings are subject to change.
Past performance is not indicative of future results.
Maximum Market Cap. | $25,817 |
Median Market Cap. | $3,415 |
Minimum Market Cap. | $879 |
Price/Earnings | 18.55 |
Price/Book | 2.32 |
Price/Cash Flow | 9.19 |
Price/Sales | 0.85 |
Maximum Market Cap. | $443,259 |
Median Market Cap. | $29,188 |
Minimum Market Cap. | $1,236 |
Price/Earnings | 8.91 |
Price/Book | 1.51 |
Price/Cash Flow | 7.12 |
Price/Sales | 1.55 |
Long Exposure | 75.40% |
Short Exposure | -12.53% |
Net Exposure | 62.87% |
|
Percent |
Health Care |
13.07% |
Consumer Staples |
12.24% |
Financials |
11.20% |
Industrials |
7.97% |
Communication Services |
7.87% |
Energy |
6.64% |
Information Technology |
6.24% |
Consumer Discretionary |
4.02% |
Real Estate |
3.15% |
Utilities |
3.00% |
|
Percent |
Energy |
-6.66% |
Real Estate |
-3.17% |
Financials |
-2.35% |
Consumer Staples |
-0.35% |
|
2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Days Traded at Premium |
166 |
31 |
29 |
22 |
Days Traded at Discount |
85 |
31 |
33 |
41 |
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
MARB |
2.46% |
0.22 |
0.02 |
0.16 |
0.14 |
S&P 500® Index |
17.75% |
--- |
1.00 |
0.57 |
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.
Credit Suisse Merger Arbitrage Liquid Index - The Credit Suisse Merger Arbitrage Liquid Index aims to gain broad exposure to the merger arbitrage strategy using a pre-defined quantitative methodology to invest in a liquid, diversified and broadly representative set of announced merger deals. S&P 500® Index - The Index is an unmanaged index of 500 companies used to measure large-cap U.S. stock market performance.
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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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