Multi-Asset Diversified Income Index Fund (MDIV)
  • 2022 Estimated Capital Gain Distributions
    Certain 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 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.

  • On October 24th, 2022, the Board of Trustees of First Trust's ETFs approved a management fee breakpoint policy that will make all ETFs in the complex eligible for a reduction in the management fee charged on assets that exceed certain AUM thresholds. The goal of this policy is to offer reductions in management fees paid by shareholders of larger First Trust ETFs through a process that is transparent and understandable for all investors.
    Effective November 1st, 2022, the management fee paid by any First Trust ETF with assets exceeding $2.5 Billion will decrease, with larger and increased reductions for assets above $5 Billion, $7.5 Billion, $10 Billion and $15 Billion.

    Full details of the policy and additional breakpoint levels can be seen in each fund’s Statement of Additional Information.
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.
Index Description According to the Index Provider
  • 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.
Fund Overview
TickerMDIV
Fund TypeMulti Asset Income
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
CUSIP33738R100
ISINUS33738R1005
Intraday NAVMDIVIV
Fiscal Year-End09/30
ExchangeNasdaq
Inception8/13/2012
Inception Price$19.98
Inception NAV$19.98
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.81%
Net Expense Ratio*0.69%
* As of 2/1/2022
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 is expected to remain in place until at least January 31, 2023, 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. The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's SAI for full details.
Current Fund Data (as of 12/2/2022)
Closing NAV1$15.64
Closing Market Price2$15.66
Bid/Ask Midpoint$15.68
Bid/Ask Premium0.22%
30-Day Median Bid/Ask Spread30.25%
Total Net Assets$462,134,019
Outstanding Shares29,550,002
Daily Volume65,196
Average 30-Day Daily Volume107,474
Closing Market Price 52-Week High/Low$17.08 / $14.37
Closing NAV 52-Week High/Low$17.05 / $14.40
Number of Holdings (excluding cash)126
Top Holdings (as of 12/2/2022)*
Holding Percent
First Trust Tactical High Yield ETF 19.85%
Icahn Enterprises, L.P. 1.40%
Ready Capital Corporation 1.35%
Old Republic International Corporation 1.30%
SL Green Realty Corp. 1.28%
Annaly Capital Management, Inc. 1.20%
Two Harbors Investment Corp. 1.20%
USA Compression Partners LP 1.18%
WESCO International, Inc., Series A, 10.625% Variable Rate 1.08%
NuStar Energy L.P. 1.05%

* 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 12/5/2022)4$0.0908
30-Day SEC Yield (as of 10/31/2022)57.37%
Unsubsidized 30-Day SEC Yield (as of 10/31/2022)67.25%
12-Month Distribution Rate (as of 10/31/2022)76.49%
Index Yield (as of 10/31/2022)88.05%
Distribution Rate (as of 10/31/2022)94.86%
Fund Characteristics (as of 11/30/2022)10
Maximum Market Cap.$284,947
Median Market Cap.$4,721
Minimum Market Cap.$400
Price/Earnings9.50
Price/Book1.49
Price/Cash Flow6.60
Price/Sales0.75
Bid/Ask Premium/Discount (as of 12/2/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 83 43 37 43
Days Traded at Discount 169 19 25 21
Fund Composition (as of 12/2/2022)
Dividend Paying Equities 23.82%
High Yield Corporate Bond ETFs 20.01%
REITS 18.90%
Preferred Securities 18.79%
MLPs 17.01%
Other 1.47%
Hypothetical Growth of $10,000 Since Inception (as of 12/1/2022) *