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2024 Estimated Capital Gain Distributions
Certain First Trust First Trust Exchange-Traded Funds are expected to pay a long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a long-term capital gain distribution, please click here. Also, certain First Trust Exchange-Traded Funds are expected to pay short-term capital gain distributions in December. For a list of exchange-traded funds expected to pay a short-term capital gain distribution, please click here. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - The First Trust TCW Opportunistic Fixed Income ETF is an actively managed exchange-traded fund. The Fund's investment objective is to seek to maximize long-term total return. Under normal market conditions, the Fund pursues its objective by investing at least 80% of its net assets (including investment borrowings) in fixed income securities.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | FIXD |
Fund Type | Intermediate Term Bond |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | BNY Mellon Investment Servicing (US) Inc. |
Portfolio Manager/Sub-Advisor | TCW Investment Management Company LLC |
CUSIP | 33740F805 |
ISIN | US33740F8059 |
Intraday NAV | FIXDIV |
Fiscal Year-End | 08/31 |
Exchange | Nasdaq |
Inception | 2/14/2017 |
Inception Price | $50.00 |
Inception NAV | $50.00 |
Total Expense Ratio* | 0.65% |
* As of 1/2/2024
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's Statement of Additional Information for full details.
Closing NAV1 | $44.06 |
Closing Market Price2 | $44.01 |
Bid/Ask Midpoint | $44.01 |
Bid/Ask Discount | 0.12% |
30-Day Median Bid/Ask Spread3 | 0.02% |
Total Net Assets | $5,128,445,809 |
Outstanding Shares | 116,400,002 |
Daily Volume | 483,997 |
Average 30-Day Daily Volume | 1,237,717 |
Closing Market Price 52-Week High/Low | $45.76 / $42.01 |
Closing NAV 52-Week High/Low | $45.73 / $42.07 |
Number of Holdings (excluding cash) | 871 |
Holding |
Percent |
U.S. Treasury Note, 4.125%, due 11/30/2029 |
12.51% |
U.S. Treasury Note, 4.25%, due 11/30/2026 |
6.14% |
U.S. Treasury Bond, 4.50%, due 11/15/2054 |
4.86% |
U.S. Treasury Note, 4.25%, due 11/15/2034 |
3.72% |
U.S. Treasury Bond, 4.625%, due 11/15/2044 |
3.62% |
Fannie Mae or Freddie Mac TBA, 3.50%, due 03/01/2052 |
2.50% |
U.S. Treasury Note, 4%, due 12/15/2027 |
2.33% |
U.S. Treasury Bond, 4.125%, due 08/15/2044 |
2.20% |
GNMA TBA, 5%, due 07/01/2054 |
1.46% |
GNMA TBA, 2.50%, due 12/01/2051 |
1.40% |
*Â Excluding cash.Â
Holdings are subject to change.
Years |
Percent |
0-1 Year |
-11.98% |
1-3 Years |
20.86% |
3-5 Years |
25.91% |
5-7 Years |
9.26% |
7-9 Years |
38.13% |
10-20 Years |
10.91% |
>20 Years |
6.91% |
Weighted Average Effective Duration8 | 6.90 Years |
Weighted Average Maturity | 7.77 Years |
Weighted Average Price | $92.51 |
Weighted Average Yield-to-Worst9 | 5.04% |
|
Percent |
US Government/Agency |
41.46% |
Agency MBS |
36.88% |
Investment Grade Credit |
12.25% |
Non-Agency MBS |
7.58% |
ABS |
6.95% |
CMBS |
2.91% |
High Yield Credit |
2.19% |
Emerging Market Credit |
1.57% |
Bank Loans |
1.53% |
Other |
0.10% |
Cash & Equivalents |
-13.42% |
Credit Quality |
Percent |
Government/Agency (cash & equiv) |
64.91% |
AAA |
3.76% |
AA+ |
0.63% |
AA |
2.20% |
AA- |
0.60% |
A+ |
0.39% |
A |
2.45% |
A- |
2.22% |
BBB+ |
3.01% |
BBB |
4.51% |
BBB- |
4.33% |
BB+ |
1.60% |
BB |
0.90% |
BB- |
1.26% |
B+ |
0.25% |
B |
0.80% |
B- |
1.22% |
CCC+ |
0.49% |
CCC |
1.41% |
CCC- |
0.38% |
CC |
2.23% |
C |
0.11% |
D |
0.31% |
NR |
0.03% |
The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings, 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 lowest rating is used. Sub-investment grade ratings are those rated BB+/Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. 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. Treasury, U.S. Agency and U.S. Agency mortgage-backed securities appear under "Government/Agency". Credit ratings are subject to change.
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2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
246 |
60 |
8 |
60 |
Days Traded at Discount |
4 |
1 |
55 |
4 |
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FIXD |
8.75% |
-0.13 |
1.12 |
-0.72 |
1.00 |
Bloomberg US Aggregate Bond Index |
7.78% |
--- |
1.00 |
-0.71 |
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.
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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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