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Interest Rate Hedge, 152  Ticker: FMWJXX
 
Description
A unit investment trust that seeks above-average total return by investing in common stocks of companies with a history of dividend growth, as well as exchange-traded funds which invest in convertible securities, TIPS, MLPs, limited duration bonds and real estate investment trusts.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: IRHG152
Portfolio Status: Primary
Initial Offer Date: 02/22/2024
Portfolio Ending Date: 02/23/2026
Tax Structure: Regulated Investment Company
Distributions: Monthly
 
Initial Offer Price: $10.0000
NAV(*): $9.8069
POP(*): $10.0328
Remaining Deferred Sales Charge: $0.2250
* As of Trade Date: 04/16/2024 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 4/16/2024) Per Unit (as of 4/15/2024)
3.61% $0.36260
^ 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.

 Premium/Discount of Securities Held in the Portfolio
Weighted Average Premium/Discount 0.00%
As of 4/15/2024
A premium occurs when an underlying security's market price is higher than its net asset value (or par value in the case of preferred securities), and a discount occurs when an underlying security's market price is lower than its net asset value (or par value in the case of preferred securities).

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolWeighting
 Global X MLP & Energy Infrastructure ETF MLPX 5.08%
 First Trust North American Energy Infrastructure Fund EMLP 4.99%
 Alerian MLP ETF AMLP 4.92%
 Global X MLP ETF MLPA 4.89%
 iShares Convertible Bond ETF ICVT 3.91%
 SPDR Bloomberg Convertible Securities ETF CWB 3.90%
 Vanguard Short-Term Inflation-Protected Securities ETF VTIP 2.46%
 VanEck IG Floating Rate ETF FLTR 2.46%
 iShares Treasury Floating Rate ETF TFLO 2.46%
 SPDR Blackstone Senior Loan ETF SRLN 2.45%
 Invesco Variable Rate Preferred ETF VRP 2.45%
 Schwab U.S. TIPS ETF SCHP 2.43%
 SPDR Bloomberg Short Term High Yield Bond ETF SJNK 2.42%
 iShares Broad USD High Yield Corporate Bond ETF USHY 2.42%
 Invesco KBW Premium Yield Equity REIT ETF KBWY 2.40%
 Dick's Sporting Goods, Inc. DKS 2.35%
 SPDR Dow Jones REIT ETF RWR 2.34%
 Schwab U.S. REIT ETF SCHH 2.34%
 iShares Core U.S. REIT ETF USRT 2.33%
 Caterpillar Inc. CAT 2.26%
 EOG Resources, Inc. EOG 2.24%
 QUALCOMM Incorporated QCOM 2.21%
 Phillips 66 PSX 2.18%
 Bunge Global S.A. BG 2.17%
 PACCAR Inc PCAR 2.13%
 General Dynamics Corporation GD 2.09%
 Regions Financial Corporation RF 2.06%
 Lockheed Martin Corporation LMT 2.05%
 Tractor Supply Company TSCO 2.05%
 Microchip Technology Incorporated MCHP 2.03%
 Quest Diagnostics Incorporated DGX 2.03%
 TE Connectivity Ltd. TEL 2.01%
 First Trust SSI Strategic Convertible Securities ETF FCVT 1.99%
 Bank OZK OZK 1.99%
 The Cigna Group CI 1.97%
 Chevron Corporation CVX 1.96%
 NXP Semiconductors N.V. NXPI 1.95%
 Union Pacific Corporation UNP 1.85%
 Mondelez International, Inc. MDLZ 1.75%
 
Total Number of Holdings:    39
Underlying Securities information represented above is as of 04/15/2024 but will vary with future fluctuations in the market.

 Standard Account Sales Charges *
Transactional sales charges: Initial:  0.01%
  Deferred:  2.24%
C&D Fee:    0.50%
Maximum Sales Charge:   2.75%
CUSIP Type Distribution
30334U347 Cash Monthly
30334U354 Reinvest Monthly
* Based on the offer price as of 04/16/2024 4:00pm ET

 Fee/Wrap Account Sales Charges *
C&D Fee:    0.51%
Maximum Sales Charge:   0.51%
CUSIP Type Distribution
30334U362 Cash-Fee Monthly
30334U370 Reinvest-Fee Monthly
* Based on the NAV price as of 04/16/2024 4:00pm ET
In addition to the sales charges listed, UITs for both brokerage and advisory accounts are subject to annual operating expenses and organization costs. See the prospectus for additional information.

 Deferred Sales Charge Schedule
Amount Date
$0.07500 June 20, 2024
$0.07500 July 19, 2024
$0.07500 August 20, 2024

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.

Convertible Securities Risk. Convertible securities are bonds, preferred stocks and other securities that pay a fixed rate of interest (or dividends) and will repay principal at a fixed date in the future. However, these securities may be converted into a specific number of common stocks at a specified time. As such, an investment in convertible securities entails some of the risks associated with both common stocks and bonds.

COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

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.

Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

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.

Market Disruption Risk. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

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.

TIPS Risk. TIPS are subject to numerous risks including changes in interest rates, economic recession and deterioration of the bond market or investors' perception thereof.

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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30334U347 (Cash)
30334U354 (Reinvest)
30334U362 (Cash-Fee)
30334U370 (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.
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