Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 

Core Three Closed-End Allocation, 52  Ticker: FWNXCX
 
Description
This unit investment trust seeks current monthly income, with capital appreciation as a secondary objective. The portfolio is diversified among federally tax-exempt municipal bond closed-end funds (CEFs), senior loan and limited duration CEFs, and domestic equity CEFs.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: CEC352
Portfolio Status: Secondary
Initial Offer Date: 10/19/2021
Secondary Date: 11/15/2021
Portfolio Ending Date: 10/19/2023
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.4429
POP(*): $9.6603
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 12/02/2021 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.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 12/2/2021) Per Unit (as of 11/29/2021)
5.61% $0.54180
^ There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and rate paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 Nuveen Core Equity Alpha Fund JCE 2.46%
 Eaton Vance Tax-Managed Buy-Write Income Fund ETB 2.44%
 Nuveen Nasdaq 100 Dynamic Overwrite Fund QQQX 2.43%
 Royce Value Trust, Inc. RVT 2.40%
 Cohen & Steers Quality Income Realty Fund, Inc. RQI 2.40%
 The Gabelli Dividend & Income Trust GDV 2.37%
 BlackRock Health Sciences Trust BME 2.36%
 Eaton Vance Tax-Advantaged Dividend Income Fund EVT 2.35%
 Royce Micro-Cap Trust, Inc. RMT 2.35%
 Liberty All-Star Growth Fund, Inc. ASG 2.34%
 Tekla Life Sciences Investors HQL 2.27%
 Goldman Sachs MLP and Energy Renaissance Fund GER 2.18%
 Kayne Anderson Energy Infrastructure Fund Inc. KYN 2.12%
 ClearBridge Energy Midstream Opportunity Fund Inc. EMO 2.10%
 Credit Suisse Asset Management Income Fund, Inc. CIK 1.70%
 MFS Intermediate Income Trust MIN 1.69%
 Nuveen Mortgage and Income Fund JLS 1.69%
 KKR Income Opportunities Fund KIO 1.67%
 Apollo Tactical Income Fund Inc. AIF 1.66%
 Franklin Limited Duration Income Trust FTF 1.65%
 Putnam Premier Income Trust PPT 1.63%
 Putnam Master Intermediate Income Trust PIM 1.62%
 BlackRock Floating Rate Income Trust BGT 1.61%
 Nuveen Municipal Credit Income Fund NZF 1.60%
 Nuveen AMT-Free Municipal Credit Income Fund NVG 1.59%
 BNY Mellon Strategic Municipal Bond Fund, Inc. DSM 1.57%
 Nuveen Municipal High Income Opportunity Fund NMZ 1.57%
 Apollo Senior Floating Rate Fund Inc. AFT 1.57%
 Pioneer Municipal High Income Advantage Fund, Inc. MAV 1.56%
 Nuveen Intermediate Duration Municipal Term Fund NID 1.56%
 DWS Strategic Municipal Income Trust KSM 1.55%
 Invesco Municipal Income Opportunities Trust OIA 1.55%
 Pioneer Municipal High Income Fund, Inc. MHI 1.55%
 Pioneer Floating Rate Fund Inc. PHD 1.55%
 MFS High Yield Municipal Trust CMU 1.54%
 Putnam Managed Municipal Income Trust PMM 1.54%
 Invesco Senior Income Trust VVR 1.54%
 BlackRock MuniHoldings Fund, Inc. MHD 1.53%
 Invesco Municipal Opportunity Trust VMO 1.53%
 Invesco Trust for Investment Grade Municipals VGM 1.52%
 Western Asset Managed Municipals Fund Inc. MMU 1.52%
 Nuveen Credit Strategies Income Fund JQC 1.52%
 BlackRock Floating Rate Income Strategies Fund, Inc. FRA 1.52%
 Neuberger Berman Municipal Fund Inc. NBH 1.51%
 Nuveen Enhanced Municipal Value Fund NEV 1.51%
 MFS High Income Municipal Trust CXE 1.49%
 BlackRock MuniVest Fund II, Inc. MVT 1.49%
 Blackstone Long-Short Credit Income Fund BGX 1.49%
 Nuveen Short Duration Credit Opportunities Fund JSD 1.49%
 Blackstone Strategic Credit Fund BGB 1.49%
 BlackRock MuniYield Quality Fund, Inc. MQY 1.48%
 BlackRock Municipal Income Trust II BLE 1.48%
 Eaton Vance Senior Floating-Rate Trust EFR 1.47%
 BlackRock Long-Term Municipal Advantage Trust BTA 1.45%
 Credit Suisse High Yield Bond Fund DHY 1.27%
 Barings Global Short Duration High Yield Fund BGH 1.21%
 BNY Mellon High Yield Strategies Fund DHF 1.20%
 DoubleLine Income Solutions Fund DSL 1.19%
 
Total Number of Holdings:    58
Underlying Securities information represented above is as of 12/02/2021 but will vary with future fluctuations in the market.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 January 20, 2022
$0.07500 February 18, 2022
$0.07500 March 18, 2022

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

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 employ the use of leverage, which increases the volatility of such funds.

COVID-19 Economic Impact Risk. The COVID-19 global pandemic has caused significant volatility and declines in global financial markets, causing losses for investors. The development of vaccines has slowed the spread of the virus and allowed for the resumption of "reasonably" normal business activity in the United States, although many countries continue to impose lockdown measures. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

Floating Rate LIBOR Risk. Certain of the floating-rate securities pay interest based on LIBOR. The United Kingdom's Financial Conduct Authority, which regulates LIBOR, will cease making LIBOR available as a reference rate over a phase-out period that will begin immediately after December 31, 2021. The unavailability or replacement of LIBOR may affect the value, liquidity or return on certain portfolio investments. Any potential effects of the transition away from LIBOR can be difficult to ascertain, and they may vary depending on a variety of factors and they could result in losses to the portfolio.

Floating Rate Risk. Certain of the funds invest in floating-rate securities. A floating-rate security is an instrument in which the interest rate payable on the obligation fluctuates on a periodic basis based upon changes in an interest rate benchmark. As a result, the yield on such a security will generally decline in a falling interest rate environment, causing the trust to experience a reduction in the income it receives from such securities.   

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.

Limited Duration Bonds Risk. Limited duration bonds are subject to interest rate risk, which is the risk that the value of a security will fall if interest rates increase. While limited duration bonds are generally subject to less interest rate sensitivity than longer duration bonds, there can be no assurance that interest rates will rise during the life of the trust.

Municipal Bonds Risk. Municipal bonds are subject to numerous risks, including higher interest rates, economic recession, deterioration of the municipal bond market, possible downgrades and defaults of interest and/or principal.

Municipal Securities 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. The markets for credit instruments, including municipal securities, have experienced periods of extreme illiquidity and volatility.

Senior Loans Risk. The yield on senior loans will generally decline in a falling interest rate environment and increase in a rising interest rate environment. Senior loans are generally below investment grade quality ("junk" bonds). An investment in senior loans involves the risk that the borrowers may default on their obligations to pay principal or interest when due.

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.

Operational Risk. As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cybersecurity.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial professional 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
30322P508 (Cash)
30322P516 (Reinvest)
30322P524 (Cash-Fee)
30322P532 (Reinvest-Fee)
Printer Friendly Page Printer Friendly Page

 
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.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2021 All rights reserved.