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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 | Bank of New York Mellon Corp |
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 | 0.55% |
Total Expense Ratio | 1.80% |
As of Date 11/17/2023
"Other Expenses" consist of margin interest expense and dividend expense on investments sold short.
Closing NAV1 | $19.86 |
Closing Market Price2 | $19.84 |
Bid/Ask Midpoint | $19.85 |
Bid/Ask Discount | 0.05% |
30-Day Median Bid/Ask Spread3 | 0.20% |
Total Net Assets | $28,798,775 |
Outstanding Shares | 1,450,002 |
Daily Volume | 2,278 |
Average 30-Day Daily Volume | 6,011 |
Closing Market Price 52-Week High/Low | $20.37 / $19.48 |
Closing NAV 52-Week High/Low | $20.37 / $19.52 |
Number of Holdings (excluding cash) | 34 |
Holding |
Percent |
Heartland Financial USA, Inc. |
6.38% |
Hashicorp, Inc. (Class A) |
5.57% |
Endeavor Group Holdings, Inc. (Class A) |
4.91% |
Amedisys, Inc. |
4.78% |
Albertsons Companies, Inc. (Class A) |
4.53% |
Axonics, Inc. |
4.12% |
Nuvei Corporation |
4.08% |
Juniper Networks, Inc. |
3.65% |
Discover Financial Services |
3.63% |
ANSYS, Inc. |
3.36% |
*Â Excluding cash.Â
Holdings are subject to change.
Holding |
Percent |
UMB Financial Corporation |
-6.63% |
Schlumberger Limited |
-4.10% |
Capital One Financial Corporation |
-4.00% |
Chevron Corporation |
-3.33% |
ConocoPhillips |
-2.01% |
Synopsys, Inc. |
-1.89% |
South State Corporation |
-1.88% |
WillScot Holdings Corp. |
-0.95% |
EQT Corporation |
-0.07% |
*Â Excluding cash.Â
Holdings are subject to change.
Past performance is not indicative of future results.
Maximum Market Cap. | $41,703 |
Median Market Cap. | $5,331 |
Minimum Market Cap. | $553 |
Price/Book | 2.66 |
Price/Cash Flow | 14.87 |
Price/Sales | 1.22 |
Maximum Market Cap. | $269,345 |
Median Market Cap. | $57,175 |
Minimum Market Cap. | $5,124 |
Price/Earnings | 14.95 |
Price/Book | 1.77 |
Price/Cash Flow | 10.02 |
Price/Sales | 2.41 |
Long Exposure | 69.85% |
Short Exposure | -24.86% |
Net Exposure | 44.99% |
|
Percent |
Financials |
15.95% |
Health Care |
14.38% |
Information Technology |
12.58% |
Energy |
7.69% |
Industrials |
5.00% |
Communication Services |
4.91% |
Consumer Discretionary |
4.81% |
Consumer Staples |
4.53% |
|
Percent |
Financials |
-12.51% |
Energy |
-9.51% |
Information Technology |
-1.89% |
Industrials |
-0.95% |
|
2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
88 |
12 |
12 |
7 |
Days Traded at Discount |
162 |
49 |
51 |
57 |
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
MARB |
3.02% |
-1.94 |
0.03 |
-0.54 |
0.20 |
S&P 500® Index |
17.53% |
--- |
1.00 |
0.54 |
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.
S&P 500® Index - The Index is an unmanaged index of 500 companies used to measure large-cap U.S. stock market performance. S&P Merger Arbitrage Index - The Index seeks to provide a risk arbitrage strategy that exploits commonly observed price changes associated with a global selection of publicly announced mergers, acquisitions and other corporate reorganizations.
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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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