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Name

As of 11/15/2024

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 Low Duration Opportunities ETF

LMBS | Active ETF

$48.64

$3.95 B

4.19%

$2.04

0.64%

Vitals

YTD Return

4.4%

1 yr return

7.4%

3 Yr Avg Return

2.3%

5 Yr Avg Return

1.6%

Net Assets

$3.95 B

Holdings in Top 10

27.5%

52 WEEK LOW AND HIGH

$48.7
$47.20
$49.61

Expenses

OPERATING FEES

Expense Ratio 0.64%

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 11/15/2024

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 Low Duration Opportunities ETF

LMBS | Active ETF

$48.64

$3.95 B

4.19%

$2.04

0.64%

LMBS - Profile

Distributions

  • YTD Total Return 4.4%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 1.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.75%
DIVIDENDS
  • Dividend Yield 4.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust Low Duration Opportunities ETF
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    Nov 04, 2014
  • Shares Outstanding
    111850002
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jeremiah Charles

Fund Description

Under normal market conditions, the Fund will seek to achieve its investment objectives by investing at least 60% of its net assets (including investment borrowings) (the “60% Requirement”) in mortgage-related debt securities and other mortgage-related instruments (collectively, “Mortgage-Related Investments”). The Fund normally expects to invest in Mortgage-Related Investments tied to residential and commercial mortgages. Mortgage-Related Investments consist of: (1) residential mortgage-backed securities (RMBS); (2) commercial mortgage-backed securities (CMBS); (3) stripped mortgage-backed securities (SMBS), which are mortgage-backed securities where mortgage payments are divided up between paying the loan’s principal and paying the loan’s interest; and (4) collateralized mortgage obligations (CMOs) and real estate mortgage investment conduits (REMICs) where they are divided into multiple classes with each class being entitled to a different share of the principal and/or interest payments received from the pool of underlying assets. Mortgage-Related Investments typically represent an interest in a pool of mortgage loans made by banks and other financial institutions. The individual mortgage loans are packaged or “pooled” together for sale to investors. As the underlying mortgage loans are paid off, investors receive principal and interest payments. Mortgage-Related Investments may be fixed-rate or adjustable-rate Mortgage-Related Investments (ARMS).The mortgage-backed securities in which the Fund invests may be, but are not required to be, issued or guaranteed by the U.S. government or its agencies or instrumentalities, such as the Government National Mortgage Association (“GNMA”), the Federal National Mortgage Association (“FNMA”), and the Federal Home Loan Mortgage Corporation (“FHLMC”) (the U.S. government, its agencies and instrumentalities, and U.S. government-sponsored entities are referred to collectively as “Government Entities”). The Fund may invest in callable agency securities, which give the issuer the right to redeem the security prior to maturity. The Fund may invest up to 40% of its net assets (including investment borrowings), in the aggregate, in (i) cash, cash equivalents and short-term investments and (ii) non-mortgage direct obligations of the U.S. government and other non-mortgage securities issued and/or guaranteed by Government Entities (the “40% Limit”). The Fund will limit its investments in Mortgage-Related Investments that are neither issued nor guaranteed by Government Entities to 20% of its net assets (including investment borrowings). The Fund may also invest up to 5% of its net assets (including investment borrowings) in asset-backed securities (“ABS”) (other than Mortgage-Related Investments) that are not issued and/or guaranteed by Government Entities. However, the Fund’s investments in (a) Mortgage-Related Investments that are not issued and/or guaranteed by Government Entities and (b) ABS may not, in the aggregate, exceed 20% of the Fund’s net assets (including investment borrowings).The Fund targets an estimated effective duration of three (3) years or less. 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 a portfolio of mortgage loans 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’s investment advisor will calculate the duration of the portfolio by modeling the cash flows of all the individual holdings, including the impact of prepayment variability and coupon adjustments where applicable, to determine the duration of each holding and then aggregating based on the size of the position. In performing this duration calculation, the Fund’s advisor will utilize third-party models.The Fund may invest, without limitation, in mortgage dollar rolls. The Fund intends to enter into mortgage dollar rolls only with high quality securities dealers and banks, as determined by the Fund’s investment advisor. In a mortgage dollar roll, the Fund will sell (or buy) mortgage-backed securities for delivery on a specified date and simultaneously contract to repurchase (or sell) substantially similar (same type, coupon and maturity) securities on a future date. The Fund may also invest in to-be-announced transactions (“TBA Transactions”). A TBA Transaction is a method of trading mortgage-backed securities. TBA Transactions generally are conducted in accordance with widely-accepted guidelines which establish commonly observed terms and conditions for execution, settlement and delivery. In a TBA Transaction, the buyer and the seller agree on general trade parameters such as agency, settlement date, par amount and price. Further, the Fund may enter into short sales as part of its overall portfolio management strategies or to offset a potential decline in the value of a security; however, the Fund does not expect, under normal market conditions, to engage in short sales with respect to more than 30% of the value of its net assets (including investment borrowings). The Fund may “set aside” liquid assets or engage in other similar measures in connection with the foregoing types of transactions. To the extent that cash, cash equivalents and short-term investments are set aside or otherwise held as collateral for settling mortgage dollar rolls, TBA Transactions, other forward-settling Mortgage-Related Investments transactions and/or exchange-listed futures contracts, the Fund may include such cash, cash equivalents and short-term investments towards the 60% Requirement rather than the 40% Limit.Although the Fund intends to invest primarily in investment grade securities, the Fund may invest up to 20% of its net assets (including investment borrowings) in securities of any credit quality, including securities that are below investment grade, which are also known as high yield securities, or commonly referred to as “junk” bonds, or unrated securities that have not been judged by the advisor to be of comparable quality to rated investment grade securities. In the case of a split rating between one or more of the nationally recognized statistical rating organizations, the Fund will consider the highest rating. The Fund may also invest in floating-rate securities, non-agency securities, options, restricted securities, inverse floating-rate securities, interest or principal only securities and zero coupon bonds.
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LMBS - Performance

Return Ranking - Trailing

Period LMBS Return Category Return Low Category Return High Rank in Category (%)
YTD 4.4% 0.0% 6.8% 8.86%
1 Yr 7.4% 3.3% 8.5% 3.80%
3 Yr 2.3%* -2.1% 2.9% 5.13%
5 Yr 1.6%* -0.9% 2.0% 6.76%
10 Yr 2.5%* -0.2% 2.5% 1.54%

* Annualized

Return Ranking - Calendar

Period LMBS Return Category Return Low Category Return High Rank in Category (%)
2023 1.9% -1.6% 4.4% 11.39%
2022 -5.2% -10.4% -1.0% 17.95%
2021 -2.9% -6.4% -0.2% 67.95%
2020 -0.6% -1.8% 4.9% 90.54%
2019 1.5% -1.4% 3.3% 29.17%

Total Return Ranking - Trailing

Period LMBS Return Category Return Low Category Return High Rank in Category (%)
YTD 4.4% 0.0% 6.8% 8.86%
1 Yr 7.4% 3.3% 8.5% 3.80%
3 Yr 2.3%* -2.1% 2.9% 5.13%
5 Yr 1.6%* -0.9% 2.0% 6.76%
10 Yr 2.5%* -0.2% 2.5% 1.54%

* Annualized

Total Return Ranking - Calendar

Period LMBS Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% 2.4% 6.2% 3.80%
2022 -3.1% -9.3% 0.2% 5.13%
2021 -0.9% -3.1% 0.1% 35.90%
2020 1.6% 0.4% 6.0% 93.24%
2019 4.0% 1.1% 5.5% 19.44%

LMBS - Holdings

Concentration Analysis

LMBS Category Low Category High LMBS % Rank
Net Assets 3.95 B 11.1 M 24.8 B 13.92%
Number of Holdings 1024 7 1024 1.27%
Net Assets in Top 10 1.16 B 1.76 M 6.85 B 13.92%
Weighting of Top 10 27.48% 15.6% 100.0% 74.68%

Top 10 Holdings

  1. MSILF Treasury Portfolio 11.68%
  2. Fannie Mae or Freddie Mac 2.63%
  3. Fannie Mae or Freddie Mac 2.01%
  4. United States Treasury Note/Bond 1.94%
  5. Fannie Mae Pool 1.89%
  6. United States Treasury Note/Bond 1.87%
  7. Fannie Mae Pool 1.62%
  8. Fannie Mae or Freddie Mac 1.53%
  9. Fannie Mae or Freddie Mac 1.34%
  10. United States Treasury Note/Bond 0.97%

Asset Allocation

Weighting Return Low Return High LMBS % Rank
Bonds 		90.27% 70.16% 127.20% 87.34%
Cash 		11.68% 0.00% 23.11% 5.06%
Other 		1.24% -25.01% 30.75% 36.71%
Stocks 		0.06% 0.00% 1.65% 11.39%
Preferred Stocks 		0.00% 0.00% 0.00% 55.70%
Convertible Bonds 		0.00% 0.00% 0.00% 55.13%

Stock Sector Breakdown

Weighting Return Low Return High LMBS % Rank
Utilities 		0.00% N/A N/A N/A
Technology 		0.00% N/A N/A N/A
Real Estate 		0.00% N/A N/A N/A
Industrials 		0.00% N/A N/A N/A
Healthcare 		0.00% N/A N/A N/A
Financial Services 		0.00% N/A N/A N/A
Energy 		0.00% N/A N/A N/A
Communication Services 		0.00% N/A N/A N/A
Consumer Defense 		0.00% N/A N/A N/A
Consumer Cyclical 		0.00% N/A N/A N/A
Basic Materials 		0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High LMBS % Rank
US 		0.06% 0.00% 1.65% 11.39%
Non US 		0.00% 0.00% 0.00% 55.70%

Bond Sector Breakdown

Weighting Return Low Return High LMBS % Rank
Securitized 		91.38% 0.00% 100.00% 6.41%
Cash & Equivalents 		11.68% 0.00% 23.11% 5.06%
Corporate 		0.00% 0.00% 34.19% 64.10%
Municipal 		0.00% 0.00% 6.22% 62.82%
Government 		0.00% 0.00% 99.96% 94.87%
Derivative 		-0.95% -0.95% 11.49% 100.00%

Bond Geographic Breakdown

Weighting Return Low Return High LMBS % Rank
US 		90.27% 70.16% 127.20% 87.34%
Non US 		0.00% 0.00% 0.00% 55.70%

LMBS - Expenses

Operational Fees

LMBS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.64% 0.03% 2.91% 59.49%
Management Fee 0.64% 0.03% 0.80% 93.59%
12b-1 Fee 0.00% 0.00% 1.00% 15.15%
Administrative Fee N/A 0.10% 0.45% N/A

Sales Fees

LMBS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 0.50% 1.00% N/A

Trading Fees

LMBS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 0.25% 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.

LMBS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 466.00% 98.48%

LMBS - Distributions

Dividend Yield Analysis

LMBS Category Low Category High LMBS % Rank
Dividend Yield 4.19% 0.00% 5.67% 16.46%

Dividend Distribution Analysis

LMBS Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

LMBS Category Low Category High LMBS % Rank
Net Income Ratio 0.75% -0.78% 3.29% 23.68%

Capital Gain Distribution Analysis

LMBS Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

LMBS - Fund Manager Analysis

Managers

Jeremiah Charles

Start Date

Tenure

Tenure Rank

Nov 04, 2014

7.58

7.6%

Mr. Charles is a Portfolio Manager for the First Trust Mortgage Securities Team. Prior to joining First Trust in 2013, Mr. Charles was a Vice President of Mortgage Product Sales at CRT Capital and a Senior Portfolio Manager at Deerfield Capital Management.

James Snyder

Start Date

Tenure

Tenure Rank

Nov 04, 2014

7.58

7.6%

Mr. Snyder is a Senior Vice President and Portfolio Manager for First Trust. Prior to joining First Trust in 2013, Mr. Snyder worked as a Senior Portfolio Manager at Fort Sheridan Advisors where he managed mortgage portfolios for institutional clients. Mr. Snyder has led several mortgage trading and portfolio groups at Deerfield Capital, Spyglass Capital & Trading and American Express Financial Advisors. Mr. Snyder holds a B.S. and M.A. in Economics from DePaul University and an MBA from University of Chicago Booth School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.49 32.44 10.48 7.33

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