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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
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 5/2/2022
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/Cash Flow9.33
Bid/Ask Premium/Discount (as of 6/24/2022)