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First Trust NASDAQ® ABA Community Bank Index Fund (QABA)
Investment Objective/Strategy - The First Trust NASDAQ® ABA Community Bank Index Fund is an exchange-traded fund. The objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of an equity index called the Nasdaq OMX® ABA Community Bank™ Index.
There can be no assurance that the Fund's investment objectives will be achieved.
Index Description According to the Index Provider
  • The Index is a market capitalization-weighted index that includes the common stock of all Nasdaq® listed banks and thrifts or their holding companies that are designated as banks by the Industry Classification Benchmark (or that which the American Bankers Association determines should be classified as such), but excluding:
    • Any of the 50 largest banks or thrifts and their holding companies based on asset size as determined by the most recently available call report data as compiled by the FDIC.
    • Any banks or thrifts classified as having an "international specialization" or a "credit-card specialization" as determined by the most recently available call report data as compiled by the FDIC, provided that such institutions constitute the majority of assets if in a holding company.
  • A security must have a market capitalization of at least $200 million and a three-month average daily dollar trading volume of at least $500 thousand.
  • In addition, a security must meet certain operating history, solvency, and financial statement requirements to remain eligible for inclusion in the index.
  • The Index is rebalanced quarterly and reconstituted semi-annually.
Fund Overview
Fund TypeCommunity Bank
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End12/31
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.62%
Net Expense Ratio*0.60%
* As of 5/1/2023
Expenses are capped contractually at 0.60% per year, at least through April 30, 2024. The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's SAI for full details.
Current Fund Data (as of 5/31/2023)
Closing NAV1$37.40
Closing Market Price2$37.39
Bid/Ask Midpoint$37.42
Bid/Ask Premium0.05%
30-Day Median Bid/Ask Spread30.14%
Total Net Assets$71,068,176
Outstanding Shares1,900,002
Daily Volume23,250
Average 30-Day Daily Volume29,028
Closing Market Price 52-Week High/Low$57.84 / $35.24
Closing NAV 52-Week High/Low$57.69 / $35.28
Number of Holdings (excluding cash)149
Top Holdings (as of 5/31/2023)*
Holding Percent
Commerce Bancshares, Inc. 3.67%
BOK Financial Corporation 3.36%
South State Corporation 2.91%
Columbia Banking System, Inc. 2.56%
Bank OZK 2.48%
United Bankshares, Inc. 2.43%
Wintrust Financial Corporation 2.38%
Pinnacle Financial Partners, Inc. 2.29%
First Financial Bankshares, Inc. 2.27%
Old National Bancorp 2.23%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 6/1/2023)4$0.3463
30-Day SEC Yield (as of 4/28/2023)53.09%
Unsubsidized 30-Day SEC Yield (as of 4/28/2023)63.05%
12-Month Distribution Rate (as of 4/28/2023)72.96%
Index Yield (as of 4/28/2023)83.65%
Fund Characteristics (as of 5/31/2023)10
Maximum Market Cap.$5,980
Median Market Cap.$592
Minimum Market Cap.$98
Price/Cash Flow7.14
Top State Exposure (as of 4/28/2023)
State Percent
Texas 9.02%
California 8.09%
Missouri 7.44%
Indiana 6.13%
Washington 5.23%
Ohio 5.19%
Oklahoma 4.67%
Florida 4.66%
West Virginia 4.30%
Illinios 4.18%
Bid/Ask Premium/Discount (as of 5/31/2023)
  2022 Q1 2023 Q2 2023 Q3 2023
Days Traded at Premium 123 26 19 ---
Days Traded at Discount 128 36 22 ---
Hypothetical Growth of $10,000 Since Inception (as of 5/31/2023) *