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First Trust Multi-Manager Small Cap Opportunities ETF (MMSC)
  • 2021 Estimated Capital Gain Distributions
    Certain First Trust Exchange-Traded Funds are expected to pay a short term and/or long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a capital gain distribution, please click here. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - The First Trust Multi-Manager Small Cap Opportunities ETF (the "Fund") seeks to provide long-term capital appreciation. Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowing for investment purposes) in equity securities issued by small capitalization companies. The Fund considers small capitalization companies to be those companies with market capitalizations, at the time of investment, within the market capitalization range of the companies comprising the Russell 2000® Growth Index (as of the index's most recent reconstitution). The Fund's portfolio is principally composed of common stocks issued by companies domiciled in the United States and common stocks issued by non-U.S. companies that are principally traded in the United States. The Fund utilizes a multi-manager approach to provide exposure to the small capitalization growth segment of the equity market through the blending of multiple portfolio management teams.
There can be no assurance that the Fund's investment objectives will be achieved.
Fund Overview
TickerMMSC
Fund TypeSmall Cap Equity
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Portfolio Manager/Sub-AdvisorDriehaus Capital Management LLC, Stephens Investment Management Group
CUSIP33740U794
ISINUS33740U7946
Intraday NAVMMSCIV
Fiscal Year-End08/31
ExchangeNYSE Arca
Inception10/13/2021
Inception Price$20.19
Inception NAV$20.19
Expense Ratio0.95%
Current Fund Data (as of 12/3/2021)
Closing NAV1$19.92
Closing Market Price2$19.92
Bid/Ask Midpoint$19.93
Bid/Ask Premium0.05%
30-Day Median Bid/Ask Spread30.27%
Total Net Assets$1,992,441
Outstanding Shares100,002
Daily Volume1,106
Average 30-Day Daily Volume2,132
Closing Market Price 52-Week High/Low$22.57 / $19.92
Closing NAV 52-Week High/Low$22.57 / $19.92
Number of Holdings (excluding cash)187
Top Holdings (as of 12/3/2021)*
Holding Percent
Kornit Digital Ltd. 1.84%
Ambarella, Inc. 1.43%
Repligen Corporation 1.24%
CyberArk Software Ltd. 1.17%
Lattice Semiconductor Corporation 1.14%
Silvergate Capital Corporation (Class A) 1.13%
Medpace Holdings, Inc. 1.11%
Papa John's International, Inc. 1.09%
SiteOne Landscape Supply, Inc. 1.05%
Sitime Corporation 1.05%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Fund Characteristics (as of 11/30/2021)4
Maximum Market Cap.$48,137
Median Market Cap.$4,566
Minimum Market Cap.$259
Price/Earnings35.68
Price/Book5.40
Price/Cash Flow24.70
Price/Sales4.45
Bid/Ask Premium/Discount (as of 12/3/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium --- --- --- ---
Days Traded at Discount --- --- --- ---
Top Sector Exposure (as of 12/3/2021)
Information Technology 27.27%
Health Care 21.57%
Industrials 19.16%
Consumer Discretionary 12.68%
Financials 7.76%
Consumer Staples 4.60%
Energy 2.93%
Materials 2.66%
Communication Services 0.92%
Utilities 0.45%
Month End Performance (as of 10/29/2021)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception5
Fund Performance *
Net Asset Value (NAV) N/A N/A N/A N/A N/A N/A 6.04%
After Tax Held N/A N/A N/A N/A N/A N/A 6.04%
After Tax Sold N/A N/A N/A N/A N/A N/A 3.58%
Market Price N/A N/A N/A N/A N/A N/A 6.04%
Index Performance **
Russell 2000® Growth Index N/A N/A N/A N/A N/A N/A 3.55%
Quarter End Performance (as of 9/30/2021)
  3 Month YTD 1 Year 3 Year 5 Year 10 Year Since
Fund
Inception5
Fund Performance *
Net Asset Value (NAV) N/A N/A N/A N/A N/A N/A N/A
After Tax Held N/A N/A N/A N/A N/A N/A N/A
After Tax Sold N/A N/A N/A N/A N/A N/A N/A
Market Price N/A N/A N/A N/A N/A N/A N/A
Index Performance **
Russell 2000® Growth Index N/A N/A N/A N/A N/A N/A N/A

*Performance data quoted represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than their original cost.

After Tax Held returns represent return after taxes on distributions. Assumes shares have not been sold. After Tax Sold returns represent the return after taxes on distributions and the sale of fund shares. Returns do not represent the returns you would receive if you traded shares at other times. Market Price returns are determined by using the midpoint of the national best bid offer price ("NBBO") as of the time that the fund's NAV is calculated. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

**Indexes do not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the performance shown. Indexes are unmanaged and an investor cannot invest directly in an index.

Russell 2000® Growth Index - The Index measures the performance of the small-cap growth segment of the US equity universe.

Footnotes
1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's outstanding shares .
2 Fund shares are purchased and sold on an exchange at their market price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
3 The median bid-ask spread is calculated by identifying the national best bid and national best offer ("NBBO") for the fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.
4 All market capitalization numbers are in USD$ Millions.
5 Inception Date is 10/13/2021

You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

Risk Considerations

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. Market prices may differ to some degree from the net asset value of the shares. Investors who sell fund shares may receive less than the share's net asset value.

A fund’s shares may be sold throughout the day on the exchange through any brokerage account. However, unlike mutual funds, shares may only be redeemed directly from a fund by authorized participants in very large creation/redemption units. If a fund’s authorized participants are unable to proceed with creation/redemption orders and no other authorized participant is able to step forward to create or redeem, fund shares may trade at a discount to a fund’s net asset value and possibly face delisting. A fund’s shares will change in value, and you could lose money by investing in a fund. One of the principal risks of investing in a fund is market risk. Market risk is the risk that a particular stock owned by a fund, fund shares or stocks in general may fall in value. There can be no assurance that a fund’s investment objective will be achieved. The outbreak of the respiratory disease designated as COVID-19 in December 2019 has caused significant volatility and declines in global financial markets, which have caused losses for investors. While the development of vaccines has slowed the spread of the virus and allowed for the resumption of "reasonably" normal business activity in the United States, many countries continue to impose lockdown measures in an attempt to slow the spread. Additionally, there is no guarantee that vaccines will be effective against emerging variants of the disease.

In managing a fund’s investment portfolio, the portfolio managers will apply investment techniques and risk analyses that may not have the desired result.

As the use of Internet technology has become more prevalent in the course of business, funds have become more susceptible to potential operational risks through breaches in cyber security.

Stocks with growth characteristics tend to be more volatile than certain other stocks and their prices may fluctuate more dramatically than the overall stock market.

A fund may be a constituent of one or more indices or models which could greatly affect a fund’s trading activity, size and volatility.

There can be no assurance that the securities held by a fund will stay within a fund's intended market capitalization range.

Each sub-advisor of a multi-managed fund makes investment recommendations independently and they may not complement each other. This may result in an increase in a fund’s portfolio turnover rate and higher transaction costs and risks.

A fund classified as “non-diversified” may invest a relatively high percentage of its assets in a limited number of issuers. As a result, a fund may be more susceptible to a single adverse economic or regulatory occurrence affecting one or more of these issuers, experience increased volatility and be highly concentrated in certain issuers.

A fund and a fund's advisor may seek to reduce various operational risks through controls and procedures, but it is not possible to completely protect against such risks.

High portfolio turnover may result in higher levels of transaction costs and may generate greater tax liabilities for shareholders.

A fund with significant exposure to a single asset class, country, region, industry, or sector may be more affected by an adverse economic or political development than a broadly diversified fund.

Securities of small-capitalization companies may experience greater price volatility and be less liquid than larger, more established companies.

Trading on the exchange may be halted due to market conditions or other reasons. There can be no assurance that the requirements to maintain the listing of a fund on the exchange will continue to be met or be unchanged.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P., the fund’s distributor.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
 
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.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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