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Multi-Asset Diversified Income Index Fund (MDIV)
Investment Objective/Strategy - The Multi-Asset Diversified Income Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before the Fund's fees and expenses, of an index called the Nasdaq US Multi-Asset Diversified Income™ Index.
There can be no assurance that the Fund's investment objectives will be achieved.
Index Description According to the Index Provider
  • The Index is a modified market capitalization-weighted index designed to provide exposure to multiple asset segments, each selected to result in a consistent and high yield for the index. The Index is comprised of securities classified as equities (20%), real estate investment trusts (REITs) (20%), preferred securities (20%), master limited partnerships (MLPs) (20%) and a high yield corporate debt ETF (20%).
  • Each segment has its own set of eligibility criteria.
  • Every security in the Index is U.S.-listed and meets stringent eligibility criteria based on liquidity, size, volatility and yield.
  • The Index is rebalanced quarterly.

Fund Description

  • The fund will normally invest at least 90% of its net assets (plus the amount of any borrowings for investment purposes) in the common stocks and/or depositary receipts, REITs, preferred securities, MLPs and an ETF that comprise each segment of the index.
  • The percentages provided above in the Index Description reflect the approximate percentages of each of the index segments included in the index as of each quarterly rebalance. The percentages will vary from these amounts between rebalances of the index.
Fund Overview
Fund TypeMulti Asset Income
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End09/30
Inception Price$19.98
Inception NAV$19.98
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.80%
Net Expense Ratio*0.68%
* As of 2/1/2024
First Trust has contractually agreed to reduce management fees earned by the fund for management fees due to be paid to the underlying investment companies advised by First Trust. The agreement is expected to remain in place until at least January 31, 2025, or until its termination at the direction of the Trust's Board of Trustees, or the termination of the Investment Management Agreement. Please see the Fees and Expenses of the Fund section in the fund's prospectus for more details.
Current Fund Data (as of 7/11/2024)
Closing NAV1$16.01
Closing Market Price2$16.01
Bid/Ask Midpoint$16.02
Bid/Ask Premium0.03%
30-Day Median Bid/Ask Spread30.19%
Total Net Assets$421,036,584
Outstanding Shares26,300,002
Daily Volume100,714
Average 30-Day Daily Volume56,640
Closing Market Price 52-Week High/Low$16.01 / $14.12
Closing NAV 52-Week High/Low$16.01 / $14.14
Number of Holdings (excluding cash)123
Top Holdings (as of 7/11/2024)*
Holding Percent
First Trust Tactical High Yield ETF 19.83%
Ready Capital Corporation 1.72%
Icahn Enterprises, L.P. 1.61%
PennyMac Mortgage Investment Trust 1.51%
Alliance Resource Partners, L.P. 1.37%
Delek Logistics Partners LP 1.35%
Kimbell Royalty Partners LP 1.26%
Black Stone Minerals, L.P. 1.18%
Ladder Capital Corp (Class A) 1.10%
Dorchester Minerals, L.P. 1.08%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 7/12/2024)4$0.0889
30-Day SEC Yield (as of 6/28/2024)56.65%
Unsubsidized 30-Day SEC Yield (as of 6/28/2024)66.53%
12-Month Distribution Rate (as of 6/28/2024)76.35%
Distribution Rate (as of 6/28/2024)96.79%
Index Yield (as of 6/28/2024)87.22%
Fund Characteristics (as of 6/28/2024)10
Maximum Market Cap.$302,882
Median Market Cap.$9,418
Minimum Market Cap.$755
Price/Cash Flow8.13
Bid/Ask Premium/Discount (as of 7/11/2024)
  2023 Q1 2024 Q2 2024 Q3 2024
Days Traded at Premium 101 25 32 2
Days Traded at Discount 149 36 31 6
Fund Composition (as of 7/11/2024)
REITS 20.57%
Dividend Paying Equities 20.36%
High Yield Corporate Bond ETFs 19.88%
Preferred Securities 19.65%
MLPs 17.78%
Other 1.76%
Hypothetical Growth of $10,000 Since Inception (as of 7/11/2024) *