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Investment Objective/Strategy - The First Trust Merger Arbitrage ETF's investment objective is to seek to provide investors with capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objective by establishing long and short positions in the equity securities of companies that are involved in a publicly-announced significant corporate event, such as a merger or acquisition.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | MARB |
Fund Type | Market Neutral |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Brown Brothers Harriman |
Portfolio Manager/Sub-Advisor | First Trust Capital Management L.P. |
CUSIP | 33740J203 |
ISIN | US33740J2033 |
Intraday NAV | MARBIV |
Fiscal Year-End | 07/31 |
Exchange | NYSE Arca |
Inception | 2/4/2020 |
Inception Price | $20.01 |
Inception NAV | $20.01 |
Management Fees | 1.25% |
Other Expenses | 0.62% |
Total Annual Expenses | 1.87% |
As of Date 12/1/2022
"Other Expenses" consist of margin interest expense and dividend expense on investments sold short.
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's SAI for full details.
Closing NAV1 | $20.07 |
Closing Market Price2 | $20.03 |
Bid/Ask Midpoint | $20.05 |
Bid/Ask Discount | 0.10% |
30-Day Median Bid/Ask Spread3 | 0.15% |
Total Net Assets | $98,330,435 |
Outstanding Shares | 4,900,002 |
Daily Volume | 114,930 |
Average 30-Day Daily Volume | 62,103 |
Closing Market Price 52-Week High/Low | $20.46 / $19.44 |
Closing NAV 52-Week High/Low | $20.38 / $19.45 |
Number of Holdings (excluding cash) | 23 |
Holding |
Percent |
Umpqua Holdings Corporation |
4.65% |
Meridian Bioscience, Inc. |
4.23% |
STORE Capital Corporation |
4.08% |
First Horizon Corporation |
3.68% |
ForgeRock, Inc. (Class A) |
3.61% |
Cowen Inc. |
3.00% |
MoneyGram International, Inc. |
2.95% |
LHC Group, Inc. |
2.82% |
1Life Healthcare, Inc. |
2.79% |
Activision Blizzard, Inc. |
2.51% |
* Excluding cash.
Holdings are subject to change.
Holding |
Percent |
Columbia Banking System, Inc. |
-4.68% |
* Excluding cash.
Holdings are subject to change.
Past performance is not indicative of future results.
Maximum Market Cap. | $59,910 |
Median Market Cap. | $3,645 |
Minimum Market Cap. | $367 |
Price/Earnings | 16.38 |
Price/Book | 2.09 |
Price/Cash Flow | 8.46 |
Price/Sales | 1.87 |
Maximum Market Cap. | $2,348 |
Median Market Cap. | $2,348 |
Minimum Market Cap. | $2,348 |
Price/Earnings | 10.48 |
Price/Book | 1.11 |
Price/Cash Flow | 8.77 |
Price/Sales | 3.40 |
Long Exposure | 46.13% |
Short Exposure | -4.68% |
Net Exposure | 41.45% |
|
Percent |
Financials |
11.34% |
Health Care |
10.67% |
Information Technology |
7.38% |
Communication Services |
4.65% |
Real Estate |
4.08% |
Industrials |
3.64% |
Consumer Discretionary |
2.31% |
Utilities |
2.03% |
Energy |
0.03% |
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Percent |
Financials |
-4.68% |
Energy |
0.00% |
Please note that percentage of 0.00 indicates an amount less than 0.01%.
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2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Days Traded at Premium |
166 |
7 |
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Days Traded at Discount |
85 |
9 |
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Hedge Fund Research Merger Arbitrage Index - The Index is designed to be representative of merger arbitrage strategies primarily focused on opportunities in equity and equity related instruments of companies which are currently engaged in a corporate transaction. S&P 500 Index - The Index is an unmanaged index of 500 companies used to measure large-cap U.S. stock market performance.
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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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