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Investment Objective/Strategy - The First Trust Institutional 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 institutional preferred securities and income-producing debt securities.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | FPEI |
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 | 33739P855 |
ISIN | US33739P8555 |
Intraday NAV | FPEIIV |
Fiscal Year-End | 10/31 |
Exchange | NYSE Arca |
Inception | 8/22/2017 |
Inception Price | $20.00 |
Inception NAV | $20.00 |
Expense Ratio | 0.85% |
Closing NAV1 | $20.28 |
Closing Market Price2 | $20.32 |
Bid/Ask Midpoint | $20.29 |
Bid/Ask Premium | 0.05% |
30-Day Median Bid/Ask Spread3 | 0.19% |
Total Net Assets | $323,442,436 |
Outstanding Shares | 15,950,002 |
Daily Volume | 85,001 |
Average 30-Day Daily Volume | 82,156 |
Closing Market Price 52-Week High/Low | $20.61 / $14.80 |
Closing NAV 52-Week High/Low | $20.54 / $15.24 |
Number of Holdings (excluding cash) | 150 |
Holding |
Percent |
EMERA INC Variable rate, due 06/15/2076 |
2.87% |
BARCLAYS PLC Variable rate |
2.56% |
ENBRIDGE INC Variable rate, due 01/15/2077 |
2.45% |
AERCAP HOLDINGS NV Variable rate, due 10/10/2079 |
2.05% |
LLOYDS BANKING GROUP PLC Variable rate |
1.96% |
LAND O'LAKES INC 7% |
1.93% |
AUST & NZ BANKING GROUP Variable rate |
1.84% |
ASSURED GUARANTY MUNICIPAL HOLDINGS INC Variable rate, due 12/15/2066 |
1.64% |
MARKEL CORP Variable rate |
1.55% |
APOLLO MANAGEMENT HOLDINGS Variable rate, due 01/14/2050 |
1.45% |
*Â Excluding cash.Â
Holdings are subject to change.
Past performance is not indicative of future results.
Weighted Average Effective Duration7 | 4.20 Years |
% Institutional Securities (e.g. $1000 par)8 | 98.65% |
% Retail Securities (e.g. $25 par)9 | 1.35% |
Weighted Average % of Par11 | 109.11% |
Country |
Percent |
United States |
40.30% |
United Kingdom |
11.76% |
France |
9.22% |
Canada |
8.49% |
Switzerland |
6.71% |
Australia |
4.30% |
Ireland |
3.49% |
Italy |
3.39% |
The Netherlands |
3.19% |
Japan |
2.29% |
Security |
Percent |
Fixed-to-Floating Rate and Fixed-to-Variable Rate Securities |
89.18% |
Fixed Rate Securities |
6.71% |
Floating Rate Securities |
4.11% |
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2020 |
Q1 2021 |
Q2 2021 |
Q3 2021 |
Days Traded at Premium |
180 |
35 |
--- |
--- |
Days Traded at Discount |
73 |
3 |
--- |
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A
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0.51%
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A-
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0.65%
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BBB+
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7.82%
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BBB
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28.04%
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BBB-
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28.90%
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BB+
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21.87%
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BB
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9.24%
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BB-
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1.34%
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B+
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1.63%
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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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44.35%
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Insurance
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17.71%
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Capital Markets
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12.43%
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Oil, Gas & Consumable Fuels
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7.32%
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Electric Utilities
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4.96%
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Trading Companies & Distributors
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3.49%
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Food Products
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3.16%
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Multi-Utilities
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1.99%
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Diversified Telecommunication Services
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1.69%
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FPEI |
11.16% |
-2.42 |
1.29 |
0.42 |
0.98 |
ICE BofA US Investment Grade Institutional Capital Securities Index |
8.49% |
--- |
1.00 |
0.65 |
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 US Investment Grade Institutional Capital Securities Index - The Index tracks the performance of US dollar denominated investment grade hybrid capital corporate and preferred securities publicly issued in the US domestic market.
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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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