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Investment Objective/Strategy - The First Trust Long Duration Opportunities ETF's (the "Fund") primary investment objective is to generate current income with a focus on preservation of capital. Under normal market conditions, the Fund will invest at least 80% of its net assets (including investment borrowings) in a portfolio of investment-grade debt securities issued or guaranteed by the U.S. government, its agencies or government-sponsored entities, including publicly-issued U.S. Treasury securities and mortgage-related securities. The Fund may also invest in exchange-traded funds ("ETFs") that principally invest in such securities. The Fund may purchase mortgage-related securities in "to-be-announced" transactions ("TBA Transactions"), including mortgage dollar rolls.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | LGOV |
Fund Type | Government Securities |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon Corp |
CUSIP | 33738D606 |
ISIN | US33738D6067 |
Intraday NAV | LGOVIV |
Fiscal Year-End | 10/31 |
Exchange | NYSE Arca |
Inception | 1/22/2019 |
Inception Price | $25.00 |
Inception NAV | $25.00 |
Total Expense Ratio* | 0.67% |
* As of 3/1/2024
Closing NAV1 | $22.36 |
Closing Market Price2 | $22.39 |
Bid/Ask Midpoint | $22.38 |
Bid/Ask Premium | 0.09% |
30-Day Median Bid/Ask Spread (as of 10/1/2024)3 | 0.04% |
Total Net Assets | $638,393,449 |
Outstanding Shares | 28,550,002 |
Daily Volume | 161,730 |
Average 30-Day Daily Volume | 239,152 |
Closing Market Price 52-Week High/Low | $22.83 / $19.38 |
Closing NAV 52-Week High/Low | $22.80 / $19.35 |
Number of Holdings (excluding cash) | 113 |
Holding |
Percent |
Fannie Mae Series 2012-134, Class ZC, 2.50%, due 12/25/2042 |
3.01% |
U.S. Treasury Bond, 4.375%, due 08/15/2043 |
2.82% |
FHLMC Multifamily Structured Pass Through Certs. Series K-164, Class A2, 5%, due 05/25/2034 |
2.67% |
Freddie Mac Series 5299, Class ZA, 3%, due 03/25/2052 |
2.60% |
Freddie Mac FR SD7550, 3%, due 02/01/2052 |
2.59% |
U.S. Treasury Bond, 4.50%, due 02/15/2044 |
2.57% |
U.S. Treasury Bond, 4.25%, due 02/15/2054 |
2.56% |
FHLMC Multifamily WI Certificates Series K165, Class A2, 4.489%, due 12/25/2034 |
2.40% |
Fannie Mae FN FM9712, 3.50%, due 11/01/2050 |
2.33% |
U.S. Treasury Bond, 4.75%, due 11/15/2043 |
2.24% |
*Â Excluding cash.Â
Holdings are subject to change.
Among 36 funds in the Long Government category. This fund was rated 4 stars/36 funds (3 years), 4 stars/33 funds (5 years) based on risk adjusted returns.
Weighted Average Effective Duration (Long Positions)9 | 13.01 Years |
Weighted Average Effective Duration (Short Positions)9 | -2.59 Years |
Weighted Average Effective Net Duration9 | 10.42 Years |
Weighted Average Yield-to-Worst10 | 4.21% |
|
Percent |
Agency CMOs |
43.74% |
U.S. Treasuries |
20.07% |
Agency CMBS |
14.64% |
Agency Pass-Throughs |
8.96% |
Agency Debt |
5.03% |
Cash & Cash Equivalents |
4.16% |
TBAs - Long |
3.33% |
ETFs |
0.07% |
Bond Futures - Net | 30.95% |
Options on Bond Futures - Net | -0.05% |
Options on Interest Rate Futures - Net | 0.00% |
TBAs - Short | 0.00% |
Credit Quality |
Percent |
Cash & Cash Equivalents |
4.16% |
U.S. Treasuries |
20.07% |
Agency |
75.77% |
The ratings are by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, DBRS, Inc., Kroll Bond Rating Agency, Inc. or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not equivalent, the highest rating is used. A credit rating is an assessment provided by a NRSRO, of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the fund, and not to the fund or its shares. U.S. Agency and U.S. Agency mortgage-backed securities appear under "Agency". Credit ratings are subject to change.
|
2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
201 |
57 |
56 |
61 |
Days Traded at Discount |
49 |
4 |
7 |
3 |
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
LGOV |
11.23% |
0.90 |
0.99 |
-0.71 |
0.99 |
ICE BofA 5+ Year US Treasury Index |
11.17% |
--- |
1.00 |
-0.80 |
1.00 |
Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms
on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure
of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.
Bloomberg US Aggregate Bond Index - The Index covers the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, MBS, ABS, and CMBS. ICE BofA 5+ Year US Treasury Index - The Index is a subset of ICE BofA US Treasury Index including all securities with a remaining term to final maturity greater than or equal to 5 years.
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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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