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Investment Objective/Strategy - The First Trust Low Duration Opportunities ETF is an actively managed exchange-traded fund. The Fund's primary objective is to generate current income with a secondary objective of capital appreciation.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | LMBS |
Fund Type | Mortgage-Backed Securities |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | BNY Mellon Investment Servicing (US) Inc. |
CUSIP | 33739Q200 |
ISIN | US33739Q2003 |
Intraday NAV | LMBSIV |
Fiscal Year-End | 10/31 |
Exchange | Nasdaq |
Inception | 11/4/2014 |
Inception Price | $50.00 |
Inception NAV | $50.00 |
Expense Ratio* | 0.64% |
* As of 3/1/2024
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 | $48.11 |
Closing Market Price2 | $48.04 |
Bid/Ask Midpoint | $48.04 |
Bid/Ask Discount | 0.16% |
30-Day Median Bid/Ask Spread (as of 3/15/2024)3 | 0.02% |
Total Net Assets | $3,966,817,679 |
Outstanding Shares | 82,450,002 |
Daily Volume | 381,800 |
Average 30-Day Daily Volume | 424,475 |
Closing Market Price 52-Week High/Low | $48.49 / $46.58 |
Closing NAV 52-Week High/Low | $48.50 / $46.64 |
Number of Holdings (excluding cash) | 1006 |
Holding |
Percent |
U.S. Treasury Note, 4.625%, due 11/15/2026 |
2.12% |
Fannie Mae FN FM3003, 4%, due 05/01/2049 |
2.05% |
U.S. Treasury Note, 4.625%, due 10/15/2026 |
2.05% |
Fannie Mae or Freddie Mac TBA, 5.50%, due 05/01/2053 |
1.92% |
Fannie Mae FN FM2972, 4%, due 12/01/2044 |
1.75% |
Fannie Mae or Freddie Mac TBA, 4%, due 06/01/2052 |
1.62% |
U.S. Treasury Note, 2.50%, due 05/31/2024 |
1.51% |
Fannie Mae or Freddie Mac TBA, 5%, due 04/01/2053 |
1.34% |
U.S. Treasury Bill, 0%, due 03/21/2024 |
1.26% |
Fannie Mae Series 2013-119, Class VZ, 3%, due 10/25/2033 |
1.04% |
*Â Excluding cash.Â
Holdings are subject to change.
Weighted Average Effective Duration (Long Positions)8 | 5.75 Years |
Weighted Average Effective Duration (Short Positions)8 | -3.27 Years |
Weighted Average Effective Net Duration8 | 2.49 Years |
Weighted Average Effective Maturity | 3.41 Years |
Weighted Average Yield-to-Worst9 | 5.01% |
Past performance is not indicative of future results.
|
Percent |
Agency MBS CMOs |
38.02% |
Agency MBS Pass-Throughs |
30.12% |
U.S. Treasury Futures |
26.31% |
Agency CMBS |
13.52% |
U.S. Treasuries |
5.23% |
Non-Agency RMBS |
4.31% |
Non-Agency CMBS |
2.80% |
ABS |
2.20% |
Government ETF |
0.05% |
Government Inflation linked Bonds |
0.00% |
Other |
-0.18% |
Cash & Cash Equivalents |
-22.38% |
Please note that percentage of 0.00 indicates an amount less than 0.01%.
Credit Quality |
Percent |
Government & Agency |
113.07% |
Cash & Cash Equivalents |
-22.38% |
AAA |
6.81% |
AA+ |
0.34% |
AA |
0.41% |
AA- |
0.28% |
A+ |
0.25% |
A |
0.15% |
A- |
0.09% |
BBB |
0.08% |
BBB- |
0.14% |
BB+ |
0.10% |
BB |
0.13% |
NR |
0.53% |
The ratings are 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 highest ratings are used. A credit rating is an assessment provided by a NRSRO, of the creditworthiness of an issuer with respect to debt obligations. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. 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". Credit ratings are subject to change.
|
2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Days Traded at Premium |
45 |
31 |
--- |
--- |
Days Traded at Discount |
205 |
22 |
--- |
--- |
|
Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
LMBS |
2.85% |
0.87 |
0.80 |
-0.60 |
0.84 |
ICE BofA 1-5 year US Treasury & Agency Index |
2.93% |
--- |
1.00 |
-1.11 |
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 1-5 year US Treasury & Agency Index - The Index measures the performance of US dollar denominated US Treasury and non-subordinated US agency debt.
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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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