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2024 Estimated Capital Gain Distributions
Certain First Trust 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 long-term capital gain distribution, please click here. Also, certain First Trust Exchange-Traded Funds are expected to pay short-term capital gain distributions in December. For a list of exchange-traded funds expected to pay a short-term 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.
Investment Objective/Strategy - The investment objective of the First Trust TCW Unconstrained Plus Bond ETF is to seek to maximize long-term total return. Under normal market conditions, the Fund invests at least 80% of its net assets (including investment borrowings) in a portfolio of fixed income securities. The Fund's investment sub-advisor, TCW Investment Management Company LLC ("TCW" or the "Sub-Advisor"), manages the Fund's portfolio in an "unconstrained" manner, meaning that its investment universe is not limited to the securities of any particular index and it has discretion to invest in fixed income securities of any type or credit quality, including up to 70% of its net assets in high yield (or "junk") securities, up to 60% of its net assets in securities issued by issuers with significant ties to emerging market countries and up to 50% of its net assets in securities denominated in non-U.S. currencies. Additionally, under normal market conditions, the Fund's average portfolio duration will vary from between 0 to 10 years. Duration is a measure of the expected price volatility of a fixed income security as a result of changes in market rates of interest.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | UCON |
Fund Type | Non-Traditional Bond |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon Corp |
Portfolio Manager/Sub-Advisor | TCW Investment Management Company LLC |
CUSIP | 33740F888 |
ISIN | US33740F8885 |
Intraday NAV | UCONIV |
Fiscal Year-End | 08/31 |
Exchange | NYSE Arca |
Inception | 6/4/2018 |
Inception Price | $25.00 |
Inception NAV | $25.00 |
Total Expense Ratio* | 0.85% |
* As of 1/2/2024
Closing NAV1 | $24.82 |
Closing Market Price2 | $24.89 |
Bid/Ask Midpoint | $24.88 |
Bid/Ask Premium | 0.24% |
30-Day Median Bid/Ask Spread3 | 0.04% |
Total Net Assets | $3,301,411,078 |
Outstanding Shares | 133,000,002 |
Daily Volume | 617,753 |
Average 30-Day Daily Volume | 767,526 |
Closing Market Price 52-Week High/Low | $25.28 / $24.14 |
Closing NAV 52-Week High/Low | $25.20 / $24.05 |
Number of Holdings (excluding cash) | 1047 |
Holding |
Percent |
U.S. Treasury Note, 4.125%, due 11/30/2029 |
18.95% |
U.S. Treasury Note, 4.25%, due 11/30/2026 |
4.21% |
U.S. Treasury Note, 4.125%, due 10/31/2029 |
1.78% |
GNMA TBA, 5.50%, due 06/01/2054 |
1.44% |
GNMA TBA, 5%, due 07/01/2054 |
1.22% |
GNMA TBA, 4.50%, due 07/01/2054 |
1.14% |
Fannie Mae or Freddie Mac TBA, 4.50%, due 08/01/2054 |
0.99% |
Fannie Mae or Freddie Mac TBA, 3.50%, due 03/01/2052 |
0.96% |
Fannie Mae or Freddie Mac TBA, 5%, due 07/01/2054 |
0.94% |
GNMA TBA, 4%, due 05/01/2052 |
0.93% |
*Â Excluding cash.Â
Holdings are subject to change.
|
Percent |
Agency MBS |
21.96% |
US Government/Agency |
21.61% |
Non-Agency MBS |
16.23% |
ABS |
12.02% |
Investment Grade Credit |
10.89% |
CMBS |
10.07% |
High Yield Credit |
4.75% |
Emerging Market Credit |
3.28% |
Bank Loans |
3.01% |
Other |
0.19% |
Cash & Equivalents |
-4.01% |
Weighted Average Effective Duration8 | 2.81 Years |
Weighted Average Maturity | 4.39 Years |
Weighted Average Price | $93.52 |
Weighted Average Yield-to-Worst9 | 5.71% |
Years |
Percent |
0 - 0.99 Years |
0.67% |
1 - 2.99 Years |
15.44% |
3 - 4.99 Years |
37.87% |
5 - 6.99 Years |
14.04% |
7 - 9.99 Years |
25.12% |
10 - 19.99 Years |
5.72% |
20 Years & Over |
1.14% |
Credit Quality |
Percent |
Government/Agency |
39.56% |
AAA |
6.66% |
AA+ |
0.84% |
AA |
3.30% |
AA- |
2.13% |
A+ |
0.59% |
A |
3.71% |
A- |
3.46% |
BBB+ |
3.71% |
BBB |
6.26% |
BBB- |
6.25% |
BB+ |
2.26% |
BB |
3.52% |
BB- |
2.81% |
B+ |
0.82% |
B |
2.51% |
B- |
2.54% |
CCC+ |
0.66% |
CCC |
2.48% |
CCC- |
1.25% |
CC |
3.32% |
C |
0.65% |
D |
0.67% |
NR |
0.04% |
The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the lowest rating is used. Sub-investment grade ratings are those rated BB+/Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the fund, and not to the fund or its shares. U.S. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under "Government/Agency". Credit ratings are subject to change.
|
2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
157 |
61 |
63 |
63 |
Days Traded at Discount |
93 |
0 |
0 |
1 |
Bloomberg US Aggregate Bond Index - The Index covers the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, MBS, ABS, and CMBS. ICE BofA 3-month U.S. Treasury Bill Index - The Index contains short-term U.S. Government securities with a remaining term to final maturity of about 90 days. ICE BofA US Dollar 3-Month Deposit Offered Rate Average Index - The Index is a 3-month average of the interest rate that the banks in the index, determined by the ICE Benchmark Administration, pay when they borrow on an unsecured basis.
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