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Alternative Income, 33  Ticker: FENLQX
 
Description
A unit investment trust that seeks to provide current monthly income, with capital appreciation as a secondary objective. The trust offers a disciplined and transparent solution for income investors by providing exposure to a diversified mix of asset classes in a single investment portfolio.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: ALIN33
Portfolio Status: Secondary
Initial Offer Date: 03/25/2019
Secondary Date: 08/05/2019
Portfolio Ending Date: 03/25/2021
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $7.1191
POP(*): Not Avail
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 07/09/2020 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  Per Unit (as of 7/6/2020)
----- $0.58360
^ 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 of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "Historical 12-Month Distribution Per Unit," which is based on the trailing twelve-month distributions paid by the securities included in a trust, will likely be higher, and in some cases significantly higher, than the actual distribution per unit achieved by the trust. 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 distributions are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital. PLEASE NOTE: For trusts that hold preferred securities, the historical distribution is calculated only using the holdings that have 12 months of distribution history. Any holdings without a 12 month history of dividends were excluded from the calculation. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit 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.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 CyrusOne Inc. CONE 3.94%
 Prologis, Inc. PLD 3.66%
 Mid-America Apartment Communities, Inc. MAA 2.85%
 Hercules Capital, Inc. HTGC 2.75%
 Ares Capital Corporation ARCC 2.74%
 Main Street Capital Corporation MAIN 2.60%
 Liberty All-Star Equity Fund USA 2.56%
 Cohen & Steers Limited Duration Preferred and Income Fund, Inc. LDP 2.54%
 Solar Capital Ltd. SLRC 2.50%
 Wells Fargo Multi-Sector Income Fund ERC 2.44%
 Wells Fargo Income Opportunities Fund EAD 2.42%
 Prospect Capital Corporation PSEC 2.39%
 Camden Property Trust CPT 2.38%
 Franklin Limited Duration Income Trust FTF 2.37%
 Virtus Total Return Fund Inc. ZTR 2.31%
 KLA Corporation KLAC 2.25%
 Wells Fargo Global Dividend Opportunity Fund EOD 2.21%
 Omega Healthcare Investors, Inc. OHI 2.20%
 PennantPark Floating Rate Capital Ltd. PFLT 2.14%
 Highwoods Properties, Inc. HIW 2.08%
 Target Corporation TGT 2.05%
 Nuveen Credit Strategies Income Fund JQC 2.02%
 Apollo Investment Corporation AINV 2.01%
 Duff & Phelps Utility and Infrastructure Fund Inc. DPG 1.98%
 Neuberger Berman Real Estate Securities Income Fund Inc. NRO 1.97%
 National Health Investors, Inc. NHI 1.96%
 NextEra Energy, Inc. NEE 1.79%
 Amgen Inc. AMGN 1.79%
 The Home Depot, Inc. HD 1.76%
 STORE Capital Corporation STOR 1.74%
 AmerisourceBergen Corporation ABC 1.67%
 T. Rowe Price Group, Inc. TROW 1.65%
 Best Buy Co., Inc. BBY 1.61%
 Lockheed Martin Corporation LMT 1.61%
 Cummins Inc. CMI 1.50%
 PennantPark Investment Corporation PNNT 1.50%
 Intel Corporation INTC 1.48%
 PepsiCo, Inc. PEP 1.47%
 Dover Corporation DOV 1.42%
 Cisco Systems, Inc. CSCO 1.18%
 Salient Midstream & MLP Fund SMM 1.16%
 Trane Technologies Plc TT 1.14%
 The Cushing MLP & Infrastructure Total Return Fund SRV 1.11%
 LyondellBasell Industries N.V. LYB 1.00%
 Kayne Anderson Midstream/Energy Fund, Inc. KMF 0.97%
 Neuberger Berman MLP & Energy Income Fund Inc. NML 0.93%
 Simon Property Group, Inc. SPG 0.92%
 Phillips 66 PSX 0.84%
 Walgreens Boots Alliance, Inc. WBA 0.83%
 Kayne Anderson MLP/Midstream Investment Company KYN 0.81%
 Delta Air Lines, Inc. DAL 0.69%
 Service Properties Trust SVC 0.64%
 ClearBridge Energy Midstream Opportunity Fund Inc. EMO 0.61%
 ClearBridge MLP & Midstream Fund Inc. CEM 0.60%
 Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. MIE 0.57%
 Royal Caribbean Cruises Ltd. RCL 0.56%
 Goldman Sachs MLP and Energy Renaissance Fund GER 0.39%
 Ingersoll-Rand Inc. IR 0.31%
 Duff & Phelps Select MLP and Midstream Energy Fund Inc. DSE 0.28%
 
Total Number of Holdings:    59
Underlying Securities information represented above is as of 07/09/2020 but will vary with future fluctuations in the market.

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.

Business Development Company Risk. Certain of the securities in the portfolio are issued by closed-end investment companies which have been elected to be treated as Business Development Companies (BDC). An investment in BDCs is subject to various risks, including management's ability to meet the BDC's investment objective, and to manage the BDC's portfolio during periods of market turmoil. BDCs may trade in the market at a discount to their net asset value. BDCs may employ the use of leverage which subjects the BDC to increased risks.

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 recent outbreak of a respiratory disease designated as COVID-19 was first detected in China in December 2019. The global economic impact of the COVID-19 outbreak is impossible to predict but is expected to disrupt manufacturing, supply chains and sales in affected areas and negatively impact global economic growth prospects. The COVID-19 outbreak has also caused significant volatility and declines in global financial markets, which have caused losses for investors. The impact of the COVID-19 outbreak may be short term or may last for an extended period of time, and in either case could result in a substantial economic downturn or recession.

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.

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.

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.

MLP Risk. Investments in Master Limited Partnerships (MLPs) are subject to the risks generally applicable to companies in the energy and natural resources sectors, including commodity pricing risk, supply and demand risk, depletion risk and exploration risk. There are certain tax risks associated with MLPs, including the risk that U.S. taxing authorities could challenge the trust's treatment of the MLPs for federal income tax purposes. These tax risks could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the trust's investments.

REITs Risk. An investment in a portfolio containing REIT securities is subject to additional risks including limited diversification. Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession.

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.

Small-Cap and Mid-Cap Risk. An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

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.

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
302652300 (Cash)
302652318 (Reinvest)
302652326 (Cash-Fee)
302652334 (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, 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)
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