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Investment Objective/Strategy - The First Trust Morningstar Dividend Leaders Index Fund is an exchange-traded index fund. The investment objective of the Fund is to replicate as closely as possible, before fees and expenses, the price and yield of the Morningstar® Dividend Leaders IndexSM.
There can be no assurance that the Fund's investment objectives will be achieved.
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The index consists of stocks listed on one of the three major exchanges, NYSE, NYSE Amex or Nasdaq, that have shown dividend consistency and dividend sustainability. Real Estate Investment Trusts (REITs) are not included.
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Through the application of Morningstar's proprietary multi-step screening process, a universe is identified. The top 100 stocks, based on dividend yield, are selected for the index.
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The individual holdings are weighted based on each security's shares outstanding, free float factor, and annual indicated dividend per share. The weighting of each holding is capped to enhance portfolio diversification.
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The index is reconstituted once annually each June and rebalanced four times annually in March, June, September and December.
Ticker | FDL |
Fund Type | Equity Income |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon |
CUSIP | 336917109 |
ISIN | US3369171091 |
Intraday NAV | FDLIV |
Fiscal Year-End | 12/31 |
Exchange | NYSE Arca |
Inception | 3/9/2006 |
Inception Price | $20.00 |
Inception NAV | $20.00 |
Rebalance Frequency | Quarterly |
Gross Expense Ratio* | 0.46% |
Net Expense Ratio* | 0.45% |
* As of 5/1/2020
Expenses are capped contractually at 0.45% per year, at least until April 30, 2021.
Closing NAV1 | $30.50 |
Closing Market Price2 | $30.53 |
Bid/Ask Midpoint | $30.50 |
Bid/Ask Premium | 0.00% |
30-Day Median Bid/Ask Spread3 | 0.03% |
Total Net Assets | $1,457,997,755 |
Outstanding Shares | 47,800,002 |
Daily Volume | 232,086 |
Average 30-Day Daily Volume | 226,908 |
Closing Market Price 52-Week High/Low | $31.57 / $19.15 |
Closing NAV 52-Week High/Low | $31.56 / $19.19 |
Number of Holdings (excluding cash) | 94 |
Holding |
Percent |
AT&T Inc. |
8.81% |
Verizon Communications Inc. |
7.29% |
AbbVie Inc. |
7.14% |
Philip Morris International Inc. |
6.42% |
Pfizer Inc. |
5.84% |
Altria Group, Inc. |
5.61% |
Broadcom Inc. |
5.10% |
International Business Machines Corporation |
4.71% |
Citigroup Inc. |
4.10% |
Dominion Energy, Inc. |
2.51% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
Maximum Market Cap. | $228,840 |
Median Market Cap. | $10,021 |
Minimum Market Cap. | $2,142 |
Price/Earnings | 20.06 |
Price/Book | 1.86 |
Price/Cash Flow | 10.76 |
Price/Sales | 1.82 |
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2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Days Traded at Premium |
139 |
33 |
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--- |
Days Traded at Discount |
114 |
5 |
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Financials
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23.43%
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Communication Services
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17.93%
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Consumer Staples
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13.78%
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Utilities
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13.37%
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Health Care
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13.12%
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Information Technology
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12.80%
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Industrials
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2.43%
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Materials
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1.88%
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Consumer Discretionary
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1.26%
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FDL |
19.71% |
-7.72 |
0.97 |
0.16 |
0.92 |
S&P 500 Index |
18.65% |
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1.00 |
0.60 |
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.
S&P 500 Index - The Index is an unmanaged index of 500 stocks used to measure large-cap U.S. stock market performance.
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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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