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First Trust Value Line® Dividend Index Fund (FVD)
  • Reorganization
    December 14, 2020 – First Trust Advisors L.P. (“FTA”) announced that the reorganization of First Trust Value Line® 100 Exchange-Traded Fund (NYSE Arca: FVL), an index based exchange-traded fund (“ETF”), managed by FTA, into First Trust Value Line® Dividend Index Fund (NYSE Arca: FVD), an index based ETF managed by FTA, was completed prior to the open of the NYSE Arca on December 14, 2020. The assets of FVL were transferred to, and the liabilities of FVL were assumed by, FVD. The shareholders of FVL received shares of FVD with a value equal to the aggregate net asset value of the shares of FVL held by them. The exchange of shares took place based upon FVL’s and FVD’s closing net asset values on December 11, 2020. The exchange ratio at which shares of FVL were exchanged for shares of FVD is 0.662214.  More information can be found here.
Investment Objective/Strategy - The First Trust Value Line® Dividend Index Fund is an exchange-traded index fund. The objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of the Value Line® Dividend Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The index begins with the universe of stocks that Value Line® gives a SafetyTM Ranking of #1 or #2 using the Value Line® SafetyTM Ranking System. All registered investment companies, limited partnerships and foreign securities not listed in the U.S. are removed from this universe.
  • From those stocks, Value Line® selects those companies with a higher than average dividend yield, as compared to the indicated dividend yield of the Standard & Poor's 500 Composite Stock Price Index.
  • Value Line® then eliminates those companies with an equity market capitalization of less than $1 billion.
  • The index seeks to be equally weighted in each of the securities in the index. The index is rebalanced on the application of the above model on a monthly basis.
Fund Overview
TickerFVD
Fund TypeEquity Income
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
CUSIP33734H106
ISINUS33734H1068
Intraday NAVFVDIV
Fiscal Year-End12/31
ExchangeNYSE Arca
Inception8/19/2003
Inception Price$15.00
Inception NAV$14.32
Rebalance FrequencyMonthly
Gross Expense Ratio*0.70%
Net Expense Ratio*0.70%
* As of 5/3/2021
Expenses are capped contractually at 0.70% per year, at least until April 30, 2022.
Current Fund Data (as of 7/27/2021)
Closing NAV1$40.47
Closing Market Price2$40.49
Bid/Ask Midpoint$40.48
Bid/Ask Premium0.02%
30-Day Median Bid/Ask Spread30.02%
Total Net Assets$12,052,092,379
Outstanding Shares297,790,884
Daily Volume594,628
Average 30-Day Daily Volume709,780
Closing Market Price 52-Week High/Low$40.72 / $30.71
Closing NAV 52-Week High/Low$40.73 / $30.73
Number of Holdings (excluding cash)201
Top Holdings (as of 7/27/2021)*
Holding Percent
Dover Corporation 0.55%
Morgan Stanley 0.55%
Oracle Corporation 0.55%
Starbucks Corporation 0.55%
Mid-America Apartment Communities, Inc. 0.54%
Target Corporation 0.54%
ABB Ltd (ADR) 0.53%
Camden Property Trust 0.53%
CMS Energy Corporation 0.53%
Eli Lilly and Company 0.53%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 6/30/2021)4

Among 1,141 funds in the Large Value category. This fund was rated 4 stars/1,141 funds (3 years), 3 stars/1,012 funds (5 years), 5 stars/740 funds (10 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 7/28/2021)5$0.1894
30-Day SEC Yield (as of 6/30/2021)61.88%
Unsubsidized 30-Day SEC Yield (as of 6/30/2021)71.88%
12-Month Distribution Rate (as of 6/30/2021)81.92%
Index Yield (as of 6/30/2021)92.48%
Fund Characteristics (as of 6/30/2021)11
Maximum Market Cap.$552,758
Median Market Cap.$37,166
Minimum Market Cap.$2,027
Price/Earnings21.27
Price/Book2.82
Price/Cash Flow13.84
Price/Sales2.13
Bid/Ask Premium/Discount (as of 7/27/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 176 41 51 15
Days Traded at Discount 77 20 12 3
Top Sector Exposure (as of 7/27/2021)
Utilities 18.98%
Industrials 17.04%
Financials 16.14%
Health Care 11.03%
Consumer Staples 10.86%
Information Technology 10.48%
Materials 4.33%
Consumer Discretionary 4.16%
Real Estate 3.60%
Communication Services 2.91%
Energy 0.47%
Hypothetical Growth of $10,000 Since Inception (as of 7/27/2021) *