FDHAX: First Trust Short Duration High Inc A

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FDHAX First Trust Short Duration High Inc A


Profile

FDHAX - Profile

Vitals

  • YTD Return -5.0%
  • 3 Yr Annualized Return -2.3%
  • 5 Yr Annualized Return -1.7%
  • Net Assets $133 M
  • Holdings in Top 10 22.3%

52 WEEK LOW AND HIGH

$18.70
$15.63
$19.77

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.23%

SALES FEES

  • Front Load 3.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 37.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $750

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Bank Loan

Distributions

  • YTD Total Return -5.0%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return -1.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.39%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust Short Duration High Income Fund
  • Fund Family Name
    First Trust
  • Inception Date
    Nov 01, 2012
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    William Housey

Fund Description

Under normal market conditions, the fund invests at least 80% of its net assets (including investment borrowings) in high yield debt securities and bank loans that are rated below-investment grade or unrated. It has a short duration investment strategy, which seeks to maintain, under normal market conditions, a blended (or weighted average) portfolio duration of three years or less. Under normal market conditions, the fund may invest up to 15% of its net assets in non-U.S. securities denominated in non-U.S. currencies.


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Categories

Performance

FDHAX - Performance

Return Ranking - Trailing

Period FDHAX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.0% -18.0% 0.0% 15.00%
1 Yr -4.3% -21.9% 4.1% 15.00%
3 Yr -2.3%* -12.8% 0.2% 21.88%
5 Yr -1.7%* -9.1% 1.4% 13.79%
10 Yr N/A* -2.8% -0.6% N/A

* Annualized

Return Ranking - Calendar

Period FDHAX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% -4.9% 7.5% 13.16%
2018 -5.2% -18.4% 5.5% 50.00%
2017 -0.6% -4.2% 3.7% 61.29%
2016 4.1% -65.0% 18.1% 80.00%
2015 -5.5% -22.0% -0.3% 20.69%

Total Return Ranking - Trailing

Period FDHAX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.0% -18.0% 0.0% 15.00%
1 Yr -4.3% -21.9% 4.1% 15.00%
3 Yr -2.3%* -12.8% 0.2% 21.88%
5 Yr -1.7%* -9.1% 3.9% 13.79%
10 Yr N/A* -2.8% -0.6% N/A

* Annualized

Total Return Ranking - Calendar

Period FDHAX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% -4.9% 7.5% 13.16%
2018 -5.2% -18.4% 5.5% 50.00%
2017 -0.6% -4.2% 3.7% 61.29%
2016 4.1% -65.0% 18.1% 83.33%
2015 -5.5% -22.0% 4.8% 20.69%

NAV & Total Return History


Holdings

FDHAX - Holdings

Concentration Analysis

FDHAX Category Low Category High FDHAX % Rank
Net Assets 133 M 47.4 M 1.3 B 82.86%
Number of Holdings 169 54 740 72.22%
Net Assets in Top 10 36 M -208 M 609 M 58.33%
Weighting of Top 10 22.34% 7.3% 94.9% 25.71%

Top 10 Holdings

  1. Hub International Ltd Hbgcn Tl B 1l Usd 2.53%
  2. Amwins Group Llc Amwins Tl 1l Usd 2.49%
  3. Chg Healthcare Services Inc Comhea Tl 1l Usd 2.44%
  4. Bausch Health Companies 2.33%
  5. Tenet Healthcare Corporation 8.12% 2.27%
  6. Alliant Holdings Intermedi Aliant Tl B 1l Usd 2.25%
  7. Reynolds Group Holdings Reynol Tl 1l Usd 2.11%
  8. Alixpartners Llp Alixpa Tl B 1l Usd 2.00%
  9. Mph Acquisition Holdings Mltpln Tl B 1l Usd 1.99%
  10. Stars Group Holdings Bv Tsgicn Tl B 1l Usd 1.93%

Asset Allocation

Weighting Return Low Return High FDHAX % Rank
Bonds
93.63% 44.30% 145.92% 54.76%
Cash
6.13% -45.93% 39.11% 41.67%
Stocks
0.20% -14.93% 5.52% 35.71%
Other
0.04% -4.39% 10.44% 66.67%
Preferred Stocks
0.00% 0.00% 18.91% 83.33%
Convertible Bonds
0.00% 0.00% 7.48% 86.11%

Stock Sector Breakdown

Weighting Return Low Return High FDHAX % Rank
Utilities
98.16% 0.00% 98.16% 13.04%
Communication Services
1.84% 0.00% 98.79% 82.61%
Technology
0.00% 0.00% 66.97% 100.00%
Real Estate
0.00% 0.00% 23.93% 91.30%
Industrials
0.00% 0.00% 58.77% 95.65%
Healthcare
0.00% 0.00% 11.87% 100.00%
Financial Services
0.00% 0.00% 15.69% 91.30%
Energy
0.00% 0.00% 100.00% 100.00%
Consumer Defense
0.00% 0.00% 3.27% 95.65%
Consumer Cyclical
0.00% 0.00% 36.93% 91.30%
Basic Materials
0.00% 0.00% 0.96% 95.65%

Stock Geographic Breakdown

Weighting Return Low Return High FDHAX % Rank
US
0.20% -14.69% 2.99% 38.89%
Non US
0.00% -0.24% 2.97% 77.78%

Bond Sector Breakdown

Weighting Return Low Return High FDHAX % Rank
Corporate
93.67% 53.88% 100.00% 55.56%
Cash & Equivalents
6.33% 0.00% 38.95% 41.67%
Derivative
0.00% 0.00% 0.01% 80.56%
Securitized
0.00% 0.00% 30.10% 86.11%
Municipal
0.00% 0.00% 0.26% 80.56%
Government
0.00% 0.00% 3.28% 86.11%

Bond Geographic Breakdown

Weighting Return Low Return High FDHAX % Rank
US
92.54% 0.00% 139.44% 16.67%
Non US
1.09% 0.00% 68.87% 97.22%

Expenses

FDHAX - Expenses

Operational Fees

FDHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.23% 0.73% 10.93% 87.50%
Management Fee 0.65% 0.00% 1.73% 33.33%
12b-1 Fee 0.25% 0.00% 1.00% 50.00%
Administrative Fee N/A 0.08% 0.25% N/A

Sales Fees

FDHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.50% 1.00% 5.75% 25.00%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

FDHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 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.

FDHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 37.00% 11.70% 122.00% 34.21%

Distributions

FDHAX - Distributions

Dividend Yield Analysis

FDHAX Category Low Category High FDHAX % Rank
Dividend Yield 0.00% 0.00% 2.00% 93.62%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FDHAX Category Low Category High FDHAX % Rank
Net Income Ratio 4.39% 3.42% 9.15% 85.00%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

FDHAX - Fund Manager Analysis

Managers

William Housey


Start Date

Tenure

Tenure Rank

Nov 01, 2012

7.67

7.7%

William A. Housey, CFA, was born in 1973. Mr. Housey earned a B.S. in Finance from Eastern Illinois University and an M.B.A. in Finance and Management & Strategy from Northwestern University’s Kellogg School of Business. Mr. Housey joined First Trust Advisors L.P. in 2010 as Senior Portfolio Manager for the Leveraged Finance Investment Team and has over 22 years of investment experience having held various positions in portfolio management and research. Mr. Housey is responsible for managing fixed-income portfolios, principally focusing on below investment-grade credit.

Orlando Purpura


Start Date

Tenure

Tenure Rank

Dec 31, 2016

3.5

3.5%

Orlando Purpura, CFA, joined First Trust Advisors in May 2013 as Chief Credit Officer of the Leveraged Finance Investment Team. Prior to joining FTA, Mr. Purpura was at Allstate Investments LLC where he served as Portfolio Manager in the Equity Special Situations Group that invested in the public equity of companies in various stages of distress. Additionally, he also was a Portfolio Manager in the Private Placement Group where he completed corporate restructurings and workouts for troubled credits held in the investment portfolio. Prior to Allstate Investments, Mr. Purpura was a founding partner at Tall Tree Investment Management LLC, an institutional money manager that focuses on Senior Secured Bank Loans in structured finance vehicles. Before moving to Tall Tree, Mr. Purpura was a Senior Distressed Debt Analyst and Workout Specialist at Van Kampen Investments where he specialized in leading the credit oversight and trading strategy for workouts and restructurings across various industries. In the early 1990s, Mr. Purpura began his credit career at Sanwa Business Credit Corporation, a company that specialized in below investment grade non-traditional lending and leasing. Mr. Purpura received a B.S. in Finance from Elmhurst College and an M.B.A. in Finance from DePaul University. Mr. Purpura holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Chicago. He also holds the Chartered Market Technician designation and is a member of the Market Technicians Association, Chicago Chapter.

Jeffrey Scott


Start Date

Tenure

Tenure Rank

Mar 02, 2020

0.33

0.3%

Jeffrey Scott, CFA, Senior Vice President, Deputy Credit Officer, Portfolio Manager of the First Trust Portfolios L.P. Mr. Scott is Deputy Credit Officer for the Leveraged Finance Investment Team. He has extensive experience in credit analysis, product development, and product management. Prior to joining First Trust, Mr. Scott served as an Assistant Portfolio Manager and as a Senior Credit Analyst for Morgan Stanley/Van Kampen from October 2008 to June 2010. As Assistant Portfolio Manager, his responsibilities included assisting with portfolio construction, buy and sell decision making, and monitoring fund liquidity and leverage. Scott joined the Van Kampen Asset Management in 2005. He has approximately 18 years of investment industry experience. Prior to joining the Adviser, he was employed by State Farm Insurance Companies where he served as an Assistant Vice President in the Mutual Fund Group responsible for product development and strategy as well as a Regional Vice President for Sales for the Financial Services Division. Mr. Scott earned a B.S. in Finance and Economics from Elmhurst College and an M.B.A. with specialization in Analytical Finance and Econometrics and Statistics from the University of Chicago. He also holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Chicago.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 25.19 6.06 0.41