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Investment Objective/Strategy - The First Trust Preferred Securities and Income ETF is an actively managed exchange-traded fund. The fund's investment objective is to seek total return and to provide current income. Under normal market conditions, the fund invests at least 80% of its net assets (including investment borrowings) in preferred securities and income-producing debt securities including corporate bonds, high yield securities and convertible securities.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | FPE |
Fund Type | Preferred Income |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Brown Brothers Harriman |
Portfolio Manager/Sub-Advisor | Stonebridge Advisors LLC |
CUSIP | 33739E108 |
ISIN | US33739E1082 |
Intraday NAV | FPEIV |
Fiscal Year-End | 10/31 |
Exchange | NYSE Arca |
Inception | 2/11/2013 |
Inception Price | $19.99 |
Inception NAV | $19.99 |
Expense Ratio | 0.85% |
Closing NAV1 | $20.02 |
Closing Market Price2 | $20.08 |
Bid/Ask Midpoint | $20.01 |
Bid/Ask Discount | 0.05% |
30-Day Median Bid/Ask Spread3 | 0.05% |
Total Net Assets | $5,973,794,392 |
Outstanding Shares | 298,355,000 |
Daily Volume | 1,406,859 |
Average 30-Day Daily Volume | 1,830,552 |
Closing Market Price 52-Week High/Low | $20.37 / $13.60 |
Closing NAV 52-Week High/Low | $20.32 / $14.59 |
Number of Holdings (excluding cash) | 275 |
Holding |
Percent |
EMERA INC Variable rate, due 06/15/2076 |
2.29% |
AERCAP HOLDINGS NV Variable rate, due 10/10/2079 |
2.19% |
BARCLAYS PLC Variable rate |
1.83% |
GMAC Capital Trust I, Series 2, Variable Rate, Due 02/15/2040 |
1.49% |
Wells Fargo & Company, Series L, 7.50% |
1.47% |
SOCIETE GENERALE Variable rate |
1.35% |
LLOYDS BANKING GROUP PLC Variable rate |
1.18% |
ENBRIDGE INC Variable rate, due 01/15/2077 |
1.17% |
ENEL SPA Variable rate, due 09/24/2073 |
1.07% |
UNICREDIT SPA Variable rate |
1.07% |
*Â Excluding cash.Â
Holdings are subject to change.
Security |
Percent |
Fixed-to-Floating Rate and Fixed-to-Variable Rate Securities |
75.17% |
Fixed Rate Securities |
18.52% |
Floating Rate Securities |
6.31% |
Past performance is not indicative of future results.
Among 49 funds in the Preferred Stock category. This fund was rated 3 stars/49 funds (3 years), 4 stars/41 funds (5 years) based on risk adjusted returns.
Weighted Average Effective Duration8 | 4.27 Years |
% Institutional Securities (e.g. $1000 par)9 | 73.26% |
% Retail Securities (e.g. $25 par)10 | 26.74% |
Weighted Average % of Par12 | 107.52% |
Country |
Percent |
United States |
50.67% |
United Kingdom |
8.69% |
Canada |
7.77% |
France |
6.86% |
Switzerland |
5.01% |
Bermuda |
3.69% |
Italy |
3.06% |
Australia |
2.86% |
Ireland |
2.80% |
The Netherlands |
2.35% |
|
2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Days Traded at Premium |
178 |
24 |
--- |
--- |
Days Traded at Discount |
75 |
14 |
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A
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0.54%
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A-
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0.94%
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BBB+
|
8.54%
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BBB
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23.36%
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BBB-
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26.33%
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BB+
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23.44%
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BB
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8.09%
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BB-
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3.22%
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B+
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1.17%
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B
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0.80%
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NR
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3.57%
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The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including Standard & Poor's Rating Group, a division of the McGraw Hill Companies, Inc., 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 highest ratings are 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. Credit ratings are subject to change.
Banks
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39.81%
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Insurance
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15.73%
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Capital Markets
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11.15%
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Oil, Gas & Consumable Fuels
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7.52%
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Electric Utilities
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4.98%
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Trading Companies & Distributors
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3.38%
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Food Products
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3.37%
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Multi-Utilities
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2.61%
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Diversified Telecommunication Services
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1.92%
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Diversified Financial Services
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1.80%
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FPE |
11.98% |
-2.79 |
1.47 |
0.43 |
0.98 |
ICE BofA Fixed Rate Preferred Securities Index |
7.81% |
-0.02 |
0.94 |
0.65 |
0.96 |
ICE BofA U.S. Capital Securities Index |
8.65% |
0.02 |
1.06 |
0.66 |
0.97 |
Blended Benchmark |
7.96% |
--- |
1.00 |
0.67 |
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.
ICE BofA Fixed Rate Preferred Securities Index - The Index tracks the performance of fixed rate US dollar denominated preferred securities issued in the US domestic market. ICE BofA U.S. Capital Securities Index - The Index is a subset of the ICE BofA U.S. Corporate Index including all fixed-to-floating rate, perpetual callable and capital securities. Blended Benchmark - The Benchmark consists of a 50/50 blend of the ICE BofA Fixed Rate Preferred Securities Index and the ICE BofA U.S. Capital Securities Index. The Blended Benchmark was added to reflect the diverse allocation of institutional preferred and hybrid securities in the fund's portfolio. The Blended Benchmark returns are calculated by using the monthly return of the two indices during each period shown above. At the beginning of each month the two indices are rebalanced to a 50-50 ratio to account for divergence from that ratio that occurred during the course of each month. The monthly returns are then compounded for each period shown above, giving the performance for the Blended Benchmark for each period shown above.
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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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