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Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

First Trust Preferred Securities and Income ETF

FPE | Active ETF

$17.87

$5.31 B

4.85%

$0.87

0.84%

Vitals

YTD Return

11.1%

1 yr return

18.1%

3 Yr Avg Return

1.1%

5 Yr Avg Return

3.3%

Net Assets

$5.31 B

Holdings in Top 10

17.1%

52 WEEK LOW AND HIGH

$17.9
$15.94
$18.22

Expenses

OPERATING FEES

Expense Ratio 0.84%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 11/01/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

First Trust Preferred Securities and Income ETF

FPE | Active ETF

$17.87

$5.31 B

4.85%

$0.87

0.84%

FPE - Profile

Distributions

  • YTD Total Return 11.1%
  • 3 Yr Annualized Total Return 1.1%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.54%
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust Preferred Securities and Income ETF
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    Feb 11, 2013
  • Shares Outstanding
    383855000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Wolf

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets (including investment borrowings) in preferred securities (“Preferred Securities”) and income-producing debt securities (“Income Securities”). The Fund invests in securities that are traded over-the-counter or listed on an exchange. For purposes of the 80% test set forth above, securities of open-end funds, closed-end funds or other exchange-traded funds (“ETFs”) registered under the Investment Company Act of 1940, as amended (the “1940 Act”), that invest primarily in Preferred Securities or Income Securities are deemed to be Preferred Securities or Income Securities.In selecting securities for the Fund, the investment strategy of the Fund’s sub-advisor is driven by comprehensive analysis of Preferred Securities and Income Securities with a goal of investing in securities representing the best relative value in the market. The style of active management by the Fund’s investment sub-advisor combines a bottom-up and top-down approach to security selection that encompasses three significant areas of analysis: credit fundamentals; relative value; and technical aspects of the securities, which may include, but are not limited to, interest rate sensitivity, call features, covenants, maturities, trading volumes, liquidity and pricing inefficiencies. The bottom-up analysis focuses on individual security analysis, idiosyncratic risks, credit fundamentals and opportunistic trading. The top-down analysis focuses on sector and industry analysis, duration and interest rate analysis, capital structure positioning and systemic risks. Diversification of the Fund portfolio within the Preferred Securities asset class is achieved through limits on issuer and industry weightings.Preferred Securities held by the Fund generally pay fixed or adjustable-rate distributions to investors and have preference over common stock in the payment of distributions and the liquidation of a company’s assets, but are generally junior to all forms of the company’s debt, including both senior and subordinated debt. Certain of the Preferred Securities may be issued by trusts or other special purpose entities created by companies specifically for the purpose of issuing such securities (“Trust Preferred Securities”).In general, Preferred Securities held by the Fund are issued by companies in the financial, communications, consumer, government, utilities, energy, materials, industrial and technology sectors. The market capitalization of the issuers is between $1.7 billion and $507 billion. The market capitalization for the Preferred Securities is between $75 million and $4 billion. Because the issuers of Preferred Securities are often financial companies, the Fund concentrates its investments by investing at least 25% of its total assets in the group of industries that comprise the financial sector, which may include banks, thrifts, brokerage firms, broker/dealers, investment banks, finance companies, and companies involved in the insurance industry. The Fund may also invest in preferred securities issued by real estate investment trusts (“REITs”).Income Securities held by the Fund include corporate bonds, high yield securities, commonly referred to as “junk” bonds, and convertible securities. The broad category of corporate debt securities includes debt issued by U.S. and non-U.S. companies of all kinds, including those with small-, mid-and large-capitalizations. Corporate debt may carry fixed or floating rates of interest. The Fund may also invest in floating-rate and fixed-to-floating rate securities.The Fund may invest in U.S. and non-U.S. debt and equity securities that are traded over-the-counter or listed on an exchange. The Fund may have exposure to certain emerging market countries through its investments in non-U.S. securities. The Fund may hold investments that are denominated in non-U.S. currencies, or in securities that provide exposure to such currencies, currency exchange rates or interest rates denominated in such currencies. As of January 31, 2024, the Fund had significant investments in financial companies and European issuers, although this may change from time to time. To the extent the Fund invests a significant portion of its assets in a given jurisdiction or investment sector, the Fund may be exposed to the risks associated with that jurisdiction or investment sector.The average duration of the Fund’s portfolio is expected to be between three to 12 years. Duration is a mathematical calculation of the average life of a debt security (or portfolio of debt securities) that serves as a measure of its price risk. In general, each year of duration represents an expected 1% change in the value of a security for every 1% immediate change in interest rates. For example, if the portfolio has an average duration of three years, its value can be expected to fall about 3% if interest rates rise by 1%. Conversely, the portfolio’s value can be expected to rise about 3% if interest rates fall by 1%. As a result, prices of instruments with shorter durations tend to be less sensitive to interest rate changes than instruments with longer durations. As the value of a security changes over time, so will its duration.The Fund invests at least 60% of its net assets in securities rated investment grade (BBB-/Baa3 or higher) at the time of purchase by at least one independent rating agency, such as Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies, Inc., Moody’s Investors Service, Inc., or another nationally recognized statistical rating organization, and unrated securities judged to be of comparable quality by the Fund’s sub-advisor. The Fund may invest up to 40% of its net assets in securities rated below investment grade (BB+/Ba1 or lower) at the time of purchase, which are commonly referred to as high yield securities or “junk bonds.” For securities with a split rating, the highest available rating will be used. In addition, at least 80% of the Fund’s net assets are issued by issuers that have long-term issuer credit ratings of investment grade, or unrated issuers judged to be of comparable quality by the Fund’s investment sub-advisor.The Fund may invest up to 15% of its net assets in cash and/or cash equivalents. The Fund may invest in securities issued by companies domiciled in the United States, U.S. dollar-denominated depositary receipts and U.S. dollar-denominated foreign securities. The Fund may invest in Rule 144A securities, which are generally securities of U.S. and foreign issuers that are not listed on an exchange and may be (a) Preferred Securities or Income Securities issued by public companies, (b) securities of non-U.S. issuers that do not want to become subject to U.S. reporting requirements or (c) common stock by non-reporting issuers. Rule 144A securities are generally subject to resale restrictions and may be illiquid. The Fund may also invest in contingent convertible securities and hybrid capital securities. Due to the nature of certain of the Fund’s investments, the Fund may, under certain circumstances, effect a portion of creations and redemptions for cash, rather than in-kind securities.
Read More

FPE - Performance

Return Ranking - Trailing

Period FPE Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% 4.8% 17.7% 15.38%
1 Yr 18.1% 10.0% 28.4% 21.79%
3 Yr 1.1%* -7.6% 5.9% 34.72%
5 Yr 3.3%* -5.1% 11.5% 14.71%
10 Yr 5.0%* 0.8% 5.0% 2.08%

* Annualized

Return Ranking - Calendar

Period FPE Return Category Return Low Category Return High Rank in Category (%)
2023 0.4% -3.6% 14.2% 60.26%
2022 -17.3% -29.4% -9.6% 51.39%
2021 0.6% -3.4% 17.2% 30.56%
2020 0.6% -24.8% 9.0% 63.77%
2019 11.8% 6.4% 19.1% 49.23%

Total Return Ranking - Trailing

Period FPE Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% 4.8% 17.7% 15.38%
1 Yr 18.1% 10.0% 28.4% 21.79%
3 Yr 1.1%* -7.6% 5.9% 34.72%
5 Yr 3.3%* -5.1% 11.5% 14.71%
10 Yr 5.0%* 0.8% 5.0% 2.08%

* Annualized

Total Return Ranking - Calendar

Period FPE Return Category Return Low Category Return High Rank in Category (%)
2023 6.8% -1.9% 26.5% 34.62%
2022 -12.8% -26.0% -5.8% 48.61%
2021 5.2% -2.5% 27.4% 18.06%
2020 6.0% -19.2% 12.3% 39.13%
2019 18.1% 10.0% 32.0% 43.08%

FPE - Holdings

Concentration Analysis

FPE Category Low Category High FPE % Rank
Net Assets 5.31 B 24.1 M 14.5 B 21.79%
Number of Holdings 244 49 439 26.92%
Net Assets in Top 10 908 M 8.45 M 1.89 B 19.23%
Weighting of Top 10 17.06% 11.3% 48.1% 65.38%

Top 10 Holdings

  1. Wells Fargo Co 2.50%
  2. Highlands Holdings Bond Issuer Ltd / Highlands Holdings Bond Co-Issuer Inc 1.99%
  3. Barclays PLC 1.93%
  4. JPMorgan Chase Co 1.82%
  5. Intesa Sanpaolo SpA 1.74%
  6. Algonquin Power Utilities Corp 1.57%
  7. Bank of America Corp 1.55%
  8. Lloyds Banking Group PLC 1.34%
  9. Energy Transfer LP 1.31%
  10. Global Atlantic Fin Co 1.30%

Asset Allocation

Weighting Return Low Return High FPE % Rank
Bonds 		71.70% 0.00% 97.75% 51.28%
Preferred Stocks 		26.57% 0.00% 125.69% 46.15%
Convertible Bonds 		22.71% 0.00% 31.65% 49.33%
Cash 		1.60% -0.02% 11.04% 66.67%
Stocks 		0.13% 0.00% 29.42% 38.46%
Other 		0.00% -4.41% 10.15% 79.49%

Stock Sector Breakdown

Weighting Return Low Return High FPE % Rank
Utilities 		0.00% 0.00% 100.00% 84.75%
Technology 		0.00% 0.00% 0.00% 69.49%
Real Estate 		0.00% 0.00% 100.00% 20.34%
Industrials 		0.00% 0.00% 7.56% 76.27%
Healthcare 		0.00% 0.00% 4.02% 76.27%
Financial Services 		0.00% 0.00% 100.00% 77.97%
Energy 		0.00% 0.00% 11.41% 76.27%
Communication Services 		0.00% 0.00% 1.77% 76.27%
Consumer Defense 		0.00% 0.00% 0.00% 69.49%
Consumer Cyclical 		0.00% 0.00% 0.00% 69.49%
Basic Materials 		0.00% 0.00% 0.00% 77.97%

Stock Geographic Breakdown

Weighting Return Low Return High FPE % Rank
US 		0.13% 0.00% 29.42% 38.46%
Non US 		0.00% 0.00% 1.93% 98.72%

Bond Sector Breakdown

Weighting Return Low Return High FPE % Rank
Corporate 		97.86% 62.31% 100.00% 38.67%
Government 		0.39% 0.00% 21.71% 32.00%
Derivative 		0.00% -0.56% 9.46% 80.77%
Cash & Equivalents 		0.00% 0.00% 11.04% 98.72%
Securitized 		0.00% 0.00% 0.00% 98.67%
Municipal 		0.00% 0.00% 0.00% 98.67%

Bond Geographic Breakdown

Weighting Return Low Return High FPE % Rank
US 		71.70% 0.00% 97.61% 51.28%
Non US 		0.00% 0.00% 22.53% 98.72%

FPE - Expenses

Operational Fees

FPE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.84% 0.05% 4.46% 67.53%
Management Fee 0.84% 0.00% 1.00% 87.18%
12b-1 Fee 0.00% 0.00% 1.00% 15.15%
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

FPE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

FPE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FPE Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 12.00% 199.00% 54.67%

FPE - Distributions

Dividend Yield Analysis

FPE Category Low Category High FPE % Rank
Dividend Yield 4.85% 0.00% 9.59% 28.21%

Dividend Distribution Analysis

FPE Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

FPE Category Low Category High FPE % Rank
Net Income Ratio 4.54% 0.88% 7.54% 33.78%

Capital Gain Distribution Analysis

FPE Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

FPE - Fund Manager Analysis

Managers

Robert Wolf

Start Date

Tenure

Tenure Rank

Feb 11, 2013

9.3

9.3%

Robert Wolf serves as Chief Investment Officer, Senior Vice President and Senior Portfolio Manager at Stonebridge. Mr. Wolf is a senior member of Stonebridge Advisors’ Investment Committee and oversees investment strategies and portfolio management activities across fund products and separately managed accounts. Mr. Wolf directs the daily management of preferred securities portfolios and performs both credit research and trading functions. Mr. Wolf has over twenty years of fixed-income experience in both portfolio management and credit research. Prior to joining Stonebridge in 2006, Mr. Wolf was a high-yield fixed-income research analyst at Lehman Brothers. In this role, his responsibilities included detailed credit analysis across multiple sectors, relative value analysis, and developing trade recommendations. Mr. Wolf previously worked for Lehman Brothers’ commercial mortgage-backed securities (CMBS) trading desk as a credit analyst. Mr. Wolf received his B.S. degree in Chemistry from Villanova University and his MBA in Finance from the New York University Stern School of Business.

Scott Fleming

Start Date

Tenure

Tenure Rank

Feb 11, 2013

9.3

9.3%

Scott Fleming serves as President and CEO of Stonebridge setting the strategic direction of Stonebridge including operations, business and product development, and marketing strategies. Mr. Fleming leads the Investment Committee and oversees investment policies and strategies for all of the company’s portfolio management activities. Additionally, Mr. Fleming directs the daily management of preferred stock portfolios. Prior to founding Stonebridge in 2004, Mr. Fleming co-founded Spectrum Asset Management, Inc., an investment advisor that specializes in preferred securities asset management for institutional clients and mutual funds. During his 13-year tenure there, he served as Chairman of the Board of Directors, Chief Financial Officer and Chief Investment Officer. Under his leadership, Spectrum grew to be the largest preferred securities manager in the country. Mr. Fleming previously served as Vice President, Portfolio Manager for DBL Preferred Management, Inc. in New York City. Mr. Fleming received a B.S. in Accounting from Bentley College in Waltham, MA and his MBA in Finance from Babson College in Wellesley, MA.

Eric Weaver

Start Date

Tenure

Tenure Rank

Mar 02, 2020

2.25

2.3%

SVP, PM & Chief Strategist

Angelo Graci

Start Date

Tenure

Tenure Rank

Mar 01, 2022

0.25

0.3%

EVP, Head of Credit Research

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.8 11.42

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