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Investment Grade Select Closed-End & ETF, 4  Ticker: FSLKTX
 
Description
The Investment Grade Select Closed-End and ETF Portfolio is a unit investment trust that invests in a broad range of closed-end funds and exchange-traded funds which have an average credit rating that is investment grade. The portfolio seeks to provide current monthly income with capital appreciation as a secondary objective.
 
Summary
Product Code: IGPS4
Portfolio Status: Secondary
Initial Offer Date: 08/01/2017
Secondary Date: 01/25/2018
Portfolio Ending Date: 08/13/2019
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.1446
POP(*): $9.3551
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 02/21/2018 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Estimated Net Annual Distribution Per Unit
Estimated Net Annual Distribution Per Unit * $0.3799
As of 02/20/2018
* The estimates are based on annualizing the most recent dividends declared by the issuers of the securities included in the portfolio. There is no guarantee that the issuers of the securities included in the portfolio will declare distributions in the future or that, if declared, they will either remain at current levels or increase over time.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 AdvisorShares Newfleet Multi-Sector Income ETF MINC 4.13%
 Insight Select Income Fund INSI 4.11%
 John Hancock Income Securities Trust JHS 4.10%
 iShares Intermediate Government/Credit Bond ETF GVI 4.08%
 Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. EDD 4.07%
 Vanguard Short-Term Corporate Bond ETF VCSH 4.07%
 Vanguard Long-Term Corporate Bond ETF VCLT 4.07%
 iShares Aaa - A Rated Corporate Bond ETF QLTA 4.07%
 iShares 10+ Year Credit Bond ETF CLY 4.07%
 SPDR Portfolio Intermediate Term Corporate Bond ETF SPIB 4.06%
 SPDR Portfolio Long Term Corporate Bond ETF SPLB 4.06%
 iShares iBoxx $ Investment Grade Corporate Bond ETF LQD 4.05%
 iShares Intermediate Credit Bond ETF CIU 4.05%
 iShares U.S. Credit Bond ETF CRED 4.04%
 iShares Core 10+ Year USD Bond ETF ILTB 4.03%
 Vanguard Intermediate-Term Corporate Bond ETF VCIT 4.02%
 Vanguard Long-Term Bond ETF BLV 4.01%
 Cohen & Steers Limited Duration Preferred and Income Fund, Inc. LDP 3.92%
 Duff & Phelps Utility and Corporate Bond Trust Inc. DUC 3.91%
 BlackRock Core Bond Trust BHK 3.90%
 Western Asset Investment Grade Defined Opportunity Trust Inc. IGI 3.89%
 Western Asset Income Fund PAI 3.85%
 Invesco Bond Fund VBF 3.83%
 MFS Intermediate Income Trust MIN 3.82%
 Nuveen Preferred & Income Securities Fund JPS 3.79%
 
Total Number of Holdings:    25
Underlying Securities information represented above is as of 02/20/2018 but will vary with future fluctuations in the market.

Risk Considerations

Buy & Hold Risk – Taxable Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

Closed-End Fund Risk. Closed-end funds are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding the funds or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, closed-end funds frequently trade at a discount to their net asset value in the secondary market. Certain closed-end funds may employ the use of leverage, which increases the volatility of such funds.

Emerging Markets Risk. Risks associated with investing in foreign securities may be more pronounced in emerging markets where the securities markets are substantially smaller, less liquid, less regulated and more volatile than the U.S. and developed foreign markets.

ETF Risk. ETFs are subject to various risks, including management's ability to meet the fund's investment objective, and to manage the fund's portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors' perceptions regarding ETFs or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund's net asset value, ETFs frequently trade at a discount from their net asset value in the secondary market. Certain ETFs may employ the use of leverage, which increases the volatility of such funds.

Foreign Securities Risk. An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. High-yield securities are subject to numerous risks, including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated securities and are affected by short-term credit developments to a greater degree.

Investment Grade Bonds Risk. Investment grade securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the investment grade security market or investors' perception thereof, possible downgrades and defaults of interest and/or principal.

Preferred Securities Risk. Preferred securities are equity securities of the issuing company which pay income in the form of dividends. Preferred securities are typically subordinated to bonds and other debt instruments in a company's capital structure, and therefore will be subject to greater credit risk than those debt instruments.

US Treasury Note Risk. The value of U.S. Treasury notes will be adversely affected by decreases in bond prices and increases in interest rates.

Volatility Risk. The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

Additional Risk. For a discussion of additional risks of investing in the trust see the "Risk Factors" section of the prospectus.

Important Note. It is important to note that an investment can be made in the underlying funds directly rather than through the trust. These direct investments can be made without paying the trust's sales charge, operating expenses and organizational costs.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

Fund Cusip Information
30304L780 (Cash)
30304L798 (Reinvest)
30304L806 (Cash-Fee)
30304L814 (Reinvest-Fee)
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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 and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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