First Trust NASDAQ® ABA Community Bank Index Fund (QABA)
  • 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 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.
Index Description According to the Index Provider
  • 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
TickerQABA
Fund TypeCommunity Bank
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
CUSIP33736Q104
ISINUS33736Q1040
Intraday NAVQABAIV
Fiscal Year-End12/31
ExchangeNasdaq
Inception6/29/2009
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.63%
Net Expense Ratio*0.60%
* As of 5/2/2022
Expenses are capped contractually at 0.60% per year, at least through April 30, 2023. 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$56.94
Closing Market Price2$56.95
Bid/Ask Midpoint$56.94
Bid/Ask Premium0.00%
30-Day Median Bid/Ask Spread30.13%
Total Net Assets$173,675,231
Outstanding Shares3,050,002
Daily Volume22,162
Average 30-Day Daily Volume53,193
Closing Market Price 52-Week High/Low$63.67 / $48.45
Closing NAV 52-Week High/Low$63.64 / $48.51
Number of Holdings (excluding cash)172
Top Holdings (as of 12/2/2022)*
Holding Percent
Commerce Bancshares, Inc. 3.48%
South State Corporation 2.58%
Pinnacle Financial Partners, Inc. 2.48%
Valley National Bancorp 2.48%
United Bankshares, Inc. 2.26%
Old National Bancorp 2.18%
Wintrust Financial Corporation 2.16%
Bank OZK 2.10%
First Financial Bankshares, Inc. 2.08%
Hancock Whitney Corporation 1.83%

* 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$0.2916
30-Day SEC Yield (as of 10/31/2022)52.03%
Unsubsidized 30-Day SEC Yield (as of 10/31/2022)61.98%
12-Month Distribution Rate (as of 10/31/2022)72.04%
Index Yield (as of 10/31/2022)82.53%
Fund Characteristics (as of 11/30/2022)10
Maximum Market Cap.$8,516
Median Market Cap.$818
Minimum Market Cap.$163
Price/Earnings12.71
Price/Book1.42
Price/Cash Flow11.07
Price/Sales4.05
Top State Exposure (as of 10/31/2022)
State Percent
California 9.83%
Texas 8.53%
Missouri 6.46%
Indiana 6.17%
New York 5.50%
Ohio 4.52%
Florida 4.35%
Washington 4.04%
Illinois 3.99%
Mississippi 3.99%
Bid/Ask Premium/Discount (as of 12/2/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 155 50 14 15
Days Traded at Discount 97 12 48 49
Hypothetical Growth of $10,000 Since Inception (as of 12/2/2022) *