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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.
  • 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.
  • 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.
  • 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.
  • The index is reconstituted once annually each June and rebalanced four times annually in March, June, September and December.
Fund Overview
Fund TypeEquity Income
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End12/31
ExchangeNYSE Arca
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.46%
Net Expense Ratio*0.45%
* As of 5/3/2021
Expenses are capped contractually at 0.45% per year, at least until April 30, 2022.
Current Fund Data (as of 1/28/2022)
Closing NAV1$36.21
Closing Market Price2$36.21
Bid/Ask Midpoint$36.21
Bid/Ask Premium0.00%
30-Day Median Bid/Ask Spread (as of 1/27/2022)30.03%
Total Net Assets$1,846,615,985
Outstanding Shares51,000,002
Daily Volume683,756
Average 30-Day Daily Volume356,748
Closing Market Price 52-Week High/Low$36.89 / $29.21
Closing NAV 52-Week High/Low$36.89 / $29.22
Number of Holdings (excluding cash)100
Top Holdings (as of 1/27/2022)*
Holding Percent
AT&T Inc. 9.82%
Chevron Corporation 7.52%
Verizon Communications Inc. 6.83%
AbbVie Inc. 6.51%
Pfizer Inc. 5.77%
Philip Morris International Inc. 5.63%
Altria Group, Inc. 4.77%
Merck & Co., Inc. 4.60%
The Coca-Cola Company 4.50%
International Business Machines Corporation 4.02%

* 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 1/29/2022)4$0.4277
30-Day SEC Yield (as of 12/31/2021)54.04%
Unsubsidized 30-Day SEC Yield (as of 12/31/2021)64.03%
12-Month Distribution Rate (as of 12/31/2021)73.62%
Index Yield (as of 12/31/2021)84.46%
Fund Characteristics (as of 12/31/2021)10
Maximum Market Cap.$331,440
Median Market Cap.$14,207
Minimum Market Cap.$2,212
Price/Cash Flow10.45
Bid/Ask Premium/Discount (as of 1/28/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 207 18 --- ---
Days Traded at Discount 45 1 --- ---
Top Sector Exposure (as of 1/27/2022)
Health Care 19.58%
Consumer Staples 18.41%
Communication Services 17.38%
Utilities 13.59%
Energy 11.10%
Financials 8.37%
Information Technology 8.33%
Materials 2.70%
Consumer Discretionary 0.45%
Industrials 0.09%
Hypothetical Growth of $10,000 Since Inception (as of 1/27/2022) *