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First Trust NASDAQ® ABA Community Bank Index Fund (QABA)
Investment Objective/Strategy - The First Trust NASDAQ® ABA Community Bank Index Fund is an exchange-traded fund. The 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 equity index called the NASDAQ OMX® ABA Community Bank IndexSM.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The index is a market capitalization-weighted index that includes the common stock of all Nasdaq® listed banks and thrifts or their holding companies that are designated as banks by the Industry Classification Benchmark (or that which the American Bankers Association determines should be classified as such), but excluding:
    • Any of the 50 largest banks or thrifts and their holding companies based on asset size as determined by the most recently available call report data as compiled by the FDIC.
    • Any banks or thrifts classified as having an "international specialization" or a "credit-card specialization" as determined by the most recently available call report data as compiled by the FDIC, provided that such institutions constitute the majority of assets if in a holding company.
  • A security must have a market capitalization of at least $200 million and a three-month average daily dollar trading volume of at least $500 thousand.
  • In addition, a security must meet certain operating history, solvency, and financial statement requirements to remain eligible for inclusion in the index.
  • The index is rebalanced quarterly and reconstituted semi-annually.
Fund Overview
Fund TypeCommunity Bank
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
Fiscal Year-End12/31
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.64%
Net Expense Ratio*0.60%
* As of 5/3/2021
Expenses are capped contractually at 0.60% per year, at least until April 30, 2022.
Current Fund Data (as of 6/18/2021)
Closing NAV1$54.39
Closing Market Price2$54.44
Bid/Ask Midpoint$54.38
Bid/Ask Discount0.02%
30-Day Median Bid/Ask Spread30.10%
Total Net Assets$138,685,850
Outstanding Shares2,550,002
Daily Volume25,852
Average 30-Day Daily Volume18,447
Closing Market Price 52-Week High/Low$60.87 / $30.49
Closing NAV 52-Week High/Low$60.84 / $30.52
Number of Holdings (excluding cash)195
Top Holdings (as of 6/18/2021)*
Holding Percent
Commerce Bancshares, Inc. 3.06%
First Citizens BancShares, Inc. (Class A) 2.64%
First Financial Bankshares, Inc. 2.45%
Pinnacle Financial Partners, Inc. 2.37%
BOK Financial Corporation 2.15%
South State Corporation 2.12%
TFS Financial Corporation 2.06%
Valley National Bancorp 1.93%
Glacier Bancorp, Inc. 1.87%
Bank OZK 1.86%

* 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 6/20/2021)4$0.2069
30-Day SEC Yield (as of 5/28/2021)51.59%
Unsubsidized 30-Day SEC Yield (as of 5/28/2021)61.58%
12-Month Distribution Rate (as of 5/28/2021)71.83%
Index Yield (as of 5/28/2021)82.16%
For funds with certain equity strategies, due to the negative economic impact across many industries caused by the COVID-19 outbreak, certain of the issuers of the securities included in the fund may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "12-Month Distribution Rate," which is based on the fund's trailing 12-month ordinary distributions, will likely be higher, and in some cases significantly higher, than the actual 12-month distribution rate achieved by the fund.
Fund Characteristics (as of 5/28/2021)10
Maximum Market Cap.$9,115
Median Market Cap.$1,124
Minimum Market Cap.$274
Price/Cash Flow13.23
Top State Exposure (as of 5/28/2021)
State Percent
Texas 9.05%
California 8.67%
Missouri 5.89%
Arkansas 4.69%
New York 4.49%
Indiana 4.43%
North Carolina 4.17%
New Jersey 4.13%
Illinois 4.02%
Ohio 3.99%
Bid/Ask Premium/Discount (as of 6/18/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 85 42 49 ---
Days Traded at Discount 168 19 6 ---
Hypothetical Growth of $10,000 Since Inception (as of 6/18/2021) *