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Investment Objective/Strategy - The Multi-Asset Diversified Income Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of an index called the NASDAQ US Multi-Asset Diversified Income IndexSM.
There can be no assurance that the Fund's investment objectives will be achieved.
- The index is a modified market capitalization-weighted index designed to provide exposure to multiple asset segments, each selected to result in a consistent and high yield for the index. The index is comprised of securities classified as equities (20%), real estate investment trusts (REITs) (20%), preferred securities (20%), master limited partnerships (MLPs) (20%) and a high yield corporate debt ETF (20%).
- Each segment has its own set of eligibility criteria.
- Every security in the index is U.S.-listed and meets stringent eligibility criteria based on liquidity, size, volatility and yield.
- The index is rebalanced quarterly.
Fund Description
- The fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in the common stocks and/or depositary receipts, REITs, preferred securities, MLPs and an ETF that comprise each segment of the index.
- The percentages provided above in the Index Description reflect the approximate percentages of each of the index segments included in the index as of each quarterly rebalance. The percentages will vary from these amounts between rebalances of the index.
Ticker | MDIV |
Fund Type | Multi Asset Income |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Brown Brothers Harriman |
CUSIP | 33738R100 |
ISIN | US33738R1005 |
Intraday NAV | MDIVIV |
Fiscal Year-End | 09/30 |
Exchange | Nasdaq |
Inception | 8/13/2012 |
Inception Price | $19.98 |
Inception NAV | $19.98 |
Rebalance Frequency | Quarterly |
Gross Expense Ratio* | 0.82% |
Net Expense Ratio* | 0.70% |
* As of 2/1/2018
Based on estimated amounts for the current fiscal year, First Trust has contractually
agreed to reduce management fees earned by the fund for management fees due
to be paid to the underlying investment companies advised by First Trust.
The agreement will remain in place until at least January 31, 2019,
or until its termination at the direction of the Trust’s Board of Trustees,
or the termination of the Investment Management Agreement.
Please see the Fees and Expenses of the Fund section in the fund's prospectus for more details.
Closing NAV1 | $18.13 |
Closing Share Price2 | $18.08 |
Bid/Ask Midpoint | $18.17 |
Bid/Ask Premium | 0.19% |
Total Net Assets | $723,437,344 |
Outstanding Shares | 39,900,002 |
Daily Volume | 221,464 |
Average 30-Day Daily Volume | 130,474 |
Closing Share Price 52-Week High/Low | $19.68 / $17.61 |
Closing NAV 52-Week High/Low | $19.67 / $17.61 |
Number of Holdings | 126 |
Maximum Market Cap. | $212,246 |
Median Market Cap. | $5,974 |
Minimum Market Cap. | $511 |
Price/Earnings | 12.97 |
Price/Book | 1.40 |
Price/Cash Flow | 8.67 |
Price/Sales | 1.24 |
Holding |
Percent |
First Trust Tactical High Yield ETF |
19.69% |
Kinder Morgan, Inc., Series A, 9.75%, Due 10/26/2018 |
1.40% |
CYS Investments, Inc. |
1.39% |
Two Harbors Investment Corp. |
1.30% |
Martin Midstream Partners L.P. |
1.23% |
NuStar Energy L.P. |
1.19% |
USA Compression Partners LP |
1.11% |
Chimera Investment Corporation |
1.09% |
PennyMac Mortgage Investment Trust |
1.09% |
Tallgrass Energy Partners, LP |
1.09% |
Holdings are subject to change.
Past performance is not indicative of future results.
Number of Days Bid/Ask Midpoint Above NAV
Quarter Ended |
0-49 Basis Points |
50-99 Basis Points |
100-199 Basis Points |
>=200 Basis Points |
3/31/2018 |
28 |
0 |
0 |
0 |
12/31/2017 |
29 |
0 |
0 |
0 |
9/30/2017 |
29 |
0 |
0 |
0 |
6/30/2017 |
32 |
0 |
0 |
0 |
Number of Days Bid/Ask Midpoint Below NAV
Quarter Ended |
0-49 Basis Points |
50-99 Basis Points |
100-199 Basis Points |
>=200 Basis Points |
3/31/2018 |
33 |
0 |
0 |
0 |
12/31/2017 |
34 |
0 |
0 |
0 |
9/30/2017 |
34 |
0 |
0 |
0 |
6/30/2017 |
31 |
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.
MLPs
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20.25%
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REITs
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20.17%
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Dividend Paying Equities
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20.14%
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High Yield Corporate Bond ETFs
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19.85%
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Preferred Securities
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19.59%
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
MDIV |
8.48% |
-6.00 |
0.67 |
0.11 |
0.81 |
Dow Jones U.S. Select Dividend™ Index |
8.29% |
3.24 |
0.68 |
1.23 |
0.84 |
S&P 500 Index |
10.26% |
--- |
1.00 |
1.01 |
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.
Dow Jones U.S. Select Dividend™ Index - The Index consists of 100 widely-traded, dividend-paying stocks derived from the Dow Jones U.S.Total Market IndexSM. S&P 500 Index - The Index is an unmanaged index of 500 stocks 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 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.
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