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2024 Estimated Capital Gain Distributions
Certain First Trust Open-End Funds are expected to pay a long-term capital gain distribution in December. For a list of open-end funds expected to pay a long-term capital gain distribution, please click here. Also, certain First Trust Open-End Funds are expected to pay short-term capital gain distributions in December. For a list of open-end 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 Fund seeks to provide long-term capital appreciation by investing, under normal market conditions, at least 80% of its net assets (including investment borrowings) in equity securities of U.S. listed companies with small market capitalizations at the time of investment.
There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.
Ticker | FOVAX |
Fund Type | Small-Cap Value |
Investment Advisor | First Trust Advisors L.P. |
Portfolio Manager/Sub-Advisor | Confluence Investment Management LLC |
CUSIP | 33731W106 |
Share Class | Class A |
Fiscal Year-End | 10/31 |
Inception Date | 2/24/2011 |
Minimum Investment Amount | $2,500 |
Minimum Subsequent Investment Amount | $50 |
Maximum Initial Sales Charge | 5.50% |
Total Expense Ratio* | 3.04% |
Net Expense Ratio* | 1.60% |
* As of 3/1/2024
Pursuant to contract, First Trust has agreed to waive fees and/or pay fund expenses to prevent the net expense ratio of any class of shares of the fund from exceeding 1.35% per year, excluding 12b-1 distribution and service fees, acquired fund fees and expenses and certain other expenses as described in the prospectus, through 2/28/2025, and to not exceed 1.70% per year from 3/01/2025 through 2/28/2034. Net expense ratio shown above includes 12b-1 service fees, acquired fund fees and certain other expenses as described in the prospectus.
Net Asset Value1 | $31.39 |
Total Net Assets | $22,895,928 |
Outstanding Shares | 64,409 |
NAV 52-Week High/Low | $32.02 / $26.92 |
Maximum Market Cap. | $32,342 |
Median Market Cap. | $2,039 |
Minimum Market Cap. | $126 |
Price/Earnings | 30.79 |
Price/Book | 2.11 |
Price/Cash Flow | 15.79 |
Price/Sales | 1.61 |
Holding |
Percent |
The Baldwin Insurance Group Inc. |
5.22% |
Hagerty, Inc. (Class A) |
4.83% |
Gates Industrial Corporation Plc |
4.21% |
Cavco Industries, Inc. |
3.97% |
John Bean Technologies Corporation |
3.93% |
The AZEK Company Inc. |
3.93% |
i3 Verticals, Inc. (Class A) |
3.93% |
J & J Snack Foods Corp. |
3.86% |
RBC Bearings Incorporated |
3.86% |
Brown & Brown, Inc. |
3.82% |
Past performance is not indicative of future results.
Industry |
Percent |
Insurance |
17.61% |
Machinery |
12.11% |
Health Care Equipment & Supplies |
10.41% |
Building Products |
7.59% |
Food Products |
6.82% |
Financial Services |
5.50% |
Household Durables |
4.01% |
Capital Markets |
3.56% |
Real Estate Management & Development |
3.17% |
Water Utilities |
3.17% |
Russell 2000® Value Index - The Index measures the performance of the small-cap segment of the U.S. equity universe. It includes those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values. The Index is constructed to provide a comprehensive and unbiased barometer for the small-cap value segment. Russell 2000® Index - The Index is comprised of the smallest 2000 companies in the Russell 3000 Index. Russell 3000® Index - The Index is comprised of the 3000 largest and most liquid stocks based and traded in the U.S.
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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, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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