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First Trust Morningstar Dividend Leaders Index Fund (FDL)
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.
  • Securities selected for the Morningstar® Dividend Leaders Index℠ are determined by a proprietary screening model developed by Morningstar. These securities have historically maintained consistent and sustainable dividend policies.
  • The selection universe for this index is based on the Morningstar® US Market Index℠. Securities issuing dividend payments that do not constitute qualifying income (e.g., real estate investment trusts) are excluded.
  • Based on forward looking earnings estimates and indicated dividends, stocks are eliminated from consideration if:
    • The five-year indicated dividend per share growth is less than zero.
    • One year estimated earnings per share divided by its indicated dividend per share is less than or equal to one.
  • Remaining stocks are ranked by indicated dividend yield. The top 100 are selected for inclusion in the index.
  • Index constituents are weighted based upon the dollar value of indicated dividend payments. Weightings are adjusted so that no individual security has greater than 10% weight, and securities with greater than 5% weight do not collectively exceed 50% of the index.
  • The index is rebalanced quarterly and reconstituted annually.
Fund Overview
TickerFDL
Fund TypeEquity Income
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
CUSIP336917109
ISINUS3369171091
Intraday NAVFDLIV
Fiscal Year-End12/31
ExchangeNYSE Arca
Inception3/9/2006
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.46%
Net Expense Ratio*0.45%
* As of 5/2/2022
Expenses are capped contractually at 0.45% per year, at least through April 30, 2023. Please see the Fees and Expenses of the Fund section in the fund’s prospectus for more details.
Current Fund Data (as of 6/24/2022)
Closing NAV1$35.81
Closing Market Price2$35.82
Bid/Ask Midpoint$35.83
Bid/Ask Premium0.06%
30-Day Median Bid/Ask Spread30.03%
Total Net Assets$2,885,937,494
Outstanding Shares80,600,002
Daily Volume1,565,554
Average 30-Day Daily Volume1,653,676
Closing Market Price 52-Week High/Low$39.18 / $32.62
Closing NAV 52-Week High/Low$39.17 / $32.63
Number of Holdings (excluding cash)100
Top Holdings (as of 6/24/2022)*
Holding Percent
Exxon Mobil Corporation 8.91%
Verizon Communications Inc. 8.26%
AbbVie Inc. 7.92%
Philip Morris International Inc. 6.02%
Cisco Systems, Inc. 4.90%
International Business Machines Corporation 4.64%
Altria Group, Inc. 4.48%
Pioneer Natural Resources Company 4.10%
United Parcel Service, Inc. (Class B) 3.52%
Citigroup Inc. 2.93%

* 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 6/26/2022)4$0.2368
30-Day SEC Yield (as of 5/31/2022)53.53%
Unsubsidized 30-Day SEC Yield (as of 5/31/2022)63.53%
12-Month Distribution Rate (as of 5/31/2022)73.43%
Index Yield (as of 5/31/2022)84.21%
Fund Characteristics (as of 5/31/2022)10
Maximum Market Cap.$343,174
Median Market Cap.$13,150
Minimum Market Cap.$1,981
Price/Earnings15.31
Price/Book2.50
Price/Cash Flow9.33
Price/Sales1.93
Bid/Ask Premium/Discount (as of 6/24/2022)