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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 IndexSM.
There can be no assurance that the Fund's investment objectives will be achieved.
  • 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 AgentBrown Brothers Harriman
Fiscal Year-End09/30
Inception Price$19.98
Inception NAV$19.98
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.81%
Net Expense Ratio*0.68%
* As of 2/1/2021
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 will remain in place until at least January 31, 2022, 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 5/12/2021)
Closing NAV1$16.54
Closing Market Price2$16.47
Bid/Ask Midpoint$16.53
Bid/Ask Discount0.06%
30-Day Median Bid/Ask Spread30.36%
Total Net Assets$478,933,054
Outstanding Shares28,950,002
Daily Volume97,519
Average 30-Day Daily Volume85,818
Closing Market Price 52-Week High/Low$16.90 / $12.49
Closing NAV 52-Week High/Low$16.94 / $12.56
Number of Holdings (excluding cash)124
Top Holdings (as of 5/12/2021)*
Holding Percent
First Trust Tactical High Yield ETF 18.91%
Annaly Capital Management, Inc. 1.61%
Starwood Property Trust, Inc. 1.58%
Energy Transfer LP 1.57%
Industrial Logistics Properties Trust 1.48%
PBF Logistics LP 1.39%
Phillips 66 Partners LP 1.39%
National Health Investors, Inc. 1.37%
USA Compression Partners LP 1.23%
Shell Midstream Partners, L.P. 1.19%

* 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 5/13/2021)4$0.0585
30-Day SEC Yield (as of 4/30/2021)55.16%
Unsubsidized 30-Day SEC Yield (as of 4/30/2021)65.05%
12-Month Distribution Rate (as of 4/30/2021)74.97%
Index Yield (as of 4/30/2021)85.68%
Distribution Rate (as of 4/30/2021)94.20%
For funds with certain equity strategies, due to the negative economic impact across many industries caused by the COVID-19 outbreak, certain of the issuers of the securities included in the fund may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "12-Month Distribution Rate," which is based on the fund's trailing 12-month ordinary distributions, will likely be higher, and in some cases significantly higher, than the actual 12-month distribution rate achieved by the fund.
Fund Characteristics (as of 4/30/2021)10
Maximum Market Cap.$239,255
Median Market Cap.$9,154
Minimum Market Cap.$577
Price/Cash Flow11.33
Bid/Ask Premium/Discount (as of 5/12/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 60 4 12 ---
Days Traded at Discount 193 57 17 ---
Fund Composition (as of 5/12/2021)
Dividend Paying Equities 23.08%
REITS 20.08%
MLPs 19.40%
High Yield Corporate Bond ETFs 19.03%
Preferred Securities 17.56%
Other 0.85%
Hypothetical Growth of $10,000 Since Inception (as of 5/12/2021) *