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First Trust TCW Opportunistic Fixed Income ETF
Active ETF
FIXD
Payout Change
Pending
Price as of:
$42.3
+0.04
+0.09%
primary theme
U.S. Intermediate-Term Bond Duration
FIXD (ETF)
First Trust TCW Opportunistic Fixed Income ETF
Payout Change
Pending
Price as of:
$42.3
+0.04
+0.09%
primary theme
U.S. Intermediate-Term Bond Duration
FIXD (ETF)
First Trust TCW Opportunistic Fixed Income ETF
Payout Change
Pending
Price as of:
$42.3
+0.04
+0.09%
primary theme
U.S. Intermediate-Term Bond Duration
Name
As of 04/19/2024Price
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
Vitals
YTD Return
-4.2%
1 yr return
-1.7%
3 Yr Avg Return
-4.6%
5 Yr Avg Return
-0.3%
Net Assets
$5.1 B
Holdings in Top 10
39.8%
52 WEEK LOW AND HIGH
$42.3
$40.92
$45.43
Expenses
OPERATING FEES
Expense Ratio 0.65%
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 04/19/2024Price
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
FIXD - Profile
Distributions
- YTD Total Return -4.2%
- 3 Yr Annualized Total Return -4.6%
- 5 Yr Annualized Total Return -0.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.34%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFirst Trust TCW Opportunistic Fixed Income ETF
-
Fund Family NameFirst Trust Advisors L.P
-
Inception DateFeb 14, 2017
-
Shares Outstanding89000002
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStephen Kane
Fund Description
Under normal market conditions, the Fund pursues its objective by investing at least 80% of its net assets (including investment borrowings) in fixed income securities. The Fund’s investments principally include securities issued or guaranteed by the U.S. government or its agencies, instrumentalities or U.S. government-sponsored entities; Treasury Inflation Protected Securities (“TIPS”); residential and commercial mortgage-backed securities; asset-backed securities; U.S. corporate bonds; fixed income securities issued by non-U.S. corporations and governments, including issuers with significant ties to emerging market countries; bank loans, including first lien senior secured floating rate bank loans and covenant lite loans; municipal bonds; collateralized loan obligations ("CLOs"); Rule 144A securities; and other debt securities bearing fixed, floating or variable interest rates of any maturity. The Fund may also invest in money market funds and other cash equivalents, preferred stock and common stock.The Fund’s sub-advisor, TCW Investment Management Company LLC (“TCW” or the “Sub-Advisor”), attempts to focus the Fund’s portfolio holdings in areas of the fixed income market (based on quality, sector, coupon or maturity) that the Sub-Advisor believes to be relatively undervalued. Under normal conditions, the Fund’s average portfolio duration varies within one and one-half (1.5) years (plus or minus) of the portfolio duration of the securities comprising the Bloomberg U.S. Aggregate Index. As a separate measure, there is no limit on the weighted average maturity of the Fund’s portfolio. While maturity refers to the expected life of a security, duration is a measure of the expected price volatility of a debt security as a result of changes in market rates of interest.The Fund may invest in mortgage-backed securities issued or guaranteed by the U.S. government, its agencies or instrumentalities (such as Ginnie Mae), and U.S. government-sponsored entities (such as Fannie Mae and Freddie Mac). Government agency or instrumentality securities have different levels of credit support. The Fund may invest in such government supported mortgage-backed securities by investing in to-be-announced transactions (“TBA Transactions”). The Fund may invest in the following non-agency, non-government-sponsored entity securities and privately-issued mortgage-related and other asset-backed securities: residential mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities and CLOs (collectively, “Private MBS/ABS”). The Fund’s investments in Private MBS/ABS are subject to the following restrictions: (1) the Fund may not invest more than 50% of its total assets in Private MBS/ABS; (2) the Fund may not invest more than 25% of its total assets in non-agency residential mortgage-backed securities; (3) the Fund may not invest more than 25% of its total assets in non-agency commercial mortgage-backed securities and CLOs; and (4) the Fund may not invest more than 25% of its total assets in non-agency asset-backed securities.The Fund may also utilize listed and over-the-counter traded derivatives instruments including, but not limited to, futures, options, swap agreements (including credit default swaps) and forward contracts for duration/yield curve management and/or hedging purposes. The Fund may invest up to 25% of its total assets in derivatives instruments that are traded “over-the-counter” and not through an exchange (“OTC Derivatives”) to reduce currency, interest rate or credit risk arising from the Fund’s investments (that is, “hedge”). The Fund’s investments in OTC Derivatives not used to hedge the Fund’s portfolio against currency, interest rate or credit risk will be limited to 20% of the Fund’s total assets. For purposes of these percentage limitations, the weight of these positions will be calculated as the aggregate gross notional value of the OTC Derivatives.Under normal market conditions, the Fund may invest up to 35% of its net assets in corporate, non-U.S. and non-agency debt and other securities rated below investment grade by one or more nationally recognized statistical rating organization (“NRSRO”), or, if unrated, judged to be of comparable quality by the Sub-Advisor (commonly referred to as “high yield” or “junk” bonds). The Fund may also invest in distressed securities, which are securities that are in default and are not expected to pay the current coupon. The Fund may also invest up to 20% of its net assets in securities denominated in non-U.S. currencies and securities of issuers with significant ties to emerging market countries, as determined by the Sub-Advisor. The Sub-Advisor considers emerging market countries to be countries that are characterized by developing commercial and financial infrastructure with significant potential for economic growth and increased capital market participation by non-U.S. investors.
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FIXD - Performance
Return Ranking - Trailing
| Period | FIXD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -4.2% | -12.9% | 2.8% | 97.12% |
| 1 Yr | -1.7% | -10.7% | 10.3% | 92.84% |
| 3 Yr | -4.6%* | -11.2% | 24.8% | 88.25% |
| 5 Yr | -0.3%* | -7.0% | 190.6% | 76.39% |
| 10 Yr | N/A* | -2.6% | 73.4% | 9.50% |
* Annualized
Return Ranking - Calendar
| Period | FIXD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.6% | -16.2% | 8.1% | 72.91% |
| 2022 | -17.5% | -34.7% | 131.9% | 82.50% |
| 2021 | -2.8% | -11.6% | 4.4% | 25.37% |
| 2020 | 5.6% | -10.1% | 946.1% | 21.51% |
| 2019 | 5.0% | -1.7% | 16.9% | 68.04% |
Total Return Ranking - Trailing
| Period | FIXD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -4.2% | -12.9% | 2.8% | 97.12% |
| 1 Yr | -1.7% | -10.7% | 10.3% | 92.84% |
| 3 Yr | -4.6%* | -11.2% | 24.8% | 88.25% |
| 5 Yr | -0.3%* | -7.0% | 190.6% | 76.39% |
| 10 Yr | N/A* | -2.6% | 73.4% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | FIXD Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.7% | -11.3% | 11.0% | 61.95% |
| 2022 | -15.0% | -32.2% | 131.9% | 85.96% |
| 2021 | -1.3% | -9.4% | 9.2% | 61.04% |
| 2020 | 8.9% | -1.9% | 1009.0% | 36.99% |
| 2019 | 9.3% | 1.1% | 21668.0% | 38.49% |
FIXD - Holdings
Concentration Analysis
| FIXD | Category Low | Category High | FIXD % Rank | |
|---|---|---|---|---|
| Net Assets | 5.1 B | 2.9 M | 314 B | 24.04% |
| Number of Holdings | 943 | 1 | 17889 | 40.71% |
| Net Assets in Top 10 | 1.83 B | -106 M | 36.5 B | 17.01% |
| Weighting of Top 10 | 39.77% | 4.4% | 134.1% | 18.10% |
Top 10 Holdings
- United States Treasury Note/Bond 7.24%
- United States Treasury Note/Bond 5.37%
- United States Treasury Note/Bond 5.36%
- Dreyfus Government Cash Management 4.30%
- Fannie Mae or Freddie Mac 3.71%
- Fannie Mae or Freddie Mac 3.45%
- United States Treasury Note/Bond 3.37%
- United States Treasury Note/Bond 2.71%
- Fannie Mae or Freddie Mac 2.24%
- Fannie Mae or Freddie Mac 2.02%
Asset Allocation
| Weighting | Return Low | Return High | FIXD % Rank | |
|---|---|---|---|---|
| Bonds | 111.56% | 0.00% | 215.98% | 9.32% |
| Other | 5.00% | -13.23% | 50.66% | 44.15% |
| Cash | 4.30% | -54.51% | 79.52% | 35.99% |
| Convertible Bonds | 1.57% | 0.00% | 7.93% | 44.75% |
| Stocks | 0.00% | 0.00% | 99.93% | 79.49% |
| Preferred Stocks | 0.00% | 0.00% | 74.68% | 77.58% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FIXD % Rank | |
|---|---|---|---|---|
| Securitized | 39.76% | 0.00% | 98.40% | 23.66% |
| Government | 31.24% | 0.00% | 86.23% | 35.15% |
| Corporate | 23.84% | 0.00% | 100.00% | 73.56% |
| Cash & Equivalents | 4.30% | 0.00% | 76.23% | 33.73% |
| Municipal | 0.74% | 0.00% | 100.00% | 32.77% |
| Derivative | 0.09% | -3.37% | 50.66% | 42.48% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FIXD % Rank | |
|---|---|---|---|---|
| US | 110.61% | 0.00% | 215.98% | 9.34% |
| Non US | 0.95% | 0.00% | 39.04% | 27.04% |
FIXD - Expenses
Operational Fees
| FIXD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.65% | 0.01% | 39.10% | 55.20% |
| Management Fee | 0.65% | 0.00% | 1.76% | 98.11% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 9.43% |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| FIXD 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% | 5.00% | N/A |
Trading Fees
| FIXD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| FIXD Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 2.00% | 493.39% | 76.47% |
FIXD - Distributions
Dividend Yield Analysis
| FIXD | Category Low | Category High | FIXD % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 9.89% | 27.87% |
Dividend Distribution Analysis
| FIXD | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
| FIXD | Category Low | Category High | FIXD % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.34% | -1.28% | 4.79% | 72.91% |
Capital Gain Distribution Analysis
| FIXD | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 28, 2024 | $0.155 | OrdinaryDividend |
| Feb 29, 2024 | $0.155 | OrdinaryDividend |
| Jan 31, 2024 | $0.165 | OrdinaryDividend |
| Dec 29, 2023 | $0.165 | OrdinaryDividend |
| Nov 30, 2023 | $0.165 | OrdinaryDividend |
| Oct 31, 2023 | $0.165 | OrdinaryDividend |
| Sep 29, 2023 | $0.165 | OrdinaryDividend |
| Aug 31, 2023 | $0.165 | OrdinaryDividend |
| Jul 31, 2023 | $0.140 | OrdinaryDividend |
| Jun 30, 2023 | $0.125 | OrdinaryDividend |
| May 31, 2023 | $0.125 | OrdinaryDividend |
| Apr 28, 2023 | $0.125 | OrdinaryDividend |
| Mar 31, 2023 | $0.125 | OrdinaryDividend |
| Feb 28, 2023 | $0.140 | OrdinaryDividend |
| Jan 31, 2023 | $0.150 | OrdinaryDividend |
| Dec 30, 2022 | $0.160 | OrdinaryDividend |
| Nov 30, 2022 | $0.175 | OrdinaryDividend |
| Oct 31, 2022 | $0.160 | OrdinaryDividend |
| Sep 30, 2022 | $0.160 | OrdinaryDividend |
| Aug 31, 2022 | $0.160 | OrdinaryDividend |
| Jul 29, 2022 | $0.095 | OrdinaryDividend |
| Jun 30, 2022 | $0.080 | OrdinaryDividend |
| May 31, 2022 | $0.080 | OrdinaryDividend |
| Apr 29, 2022 | $0.075 | OrdinaryDividend |
| Mar 31, 2022 | $0.070 | OrdinaryDividend |
| Feb 28, 2022 | $0.070 | OrdinaryDividend |
| Jan 31, 2022 | $0.065 | OrdinaryDividend |
| Dec 31, 2021 | $0.065 | OrdinaryDividend |
| Nov 30, 2021 | $0.060 | OrdinaryDividend |
| Oct 29, 2021 | $0.055 | OrdinaryDividend |
| Sep 30, 2021 | $0.058 | OrdinaryDividend |
| Jul 30, 2021 | $0.056 | OrdinaryDividend |
| Jun 30, 2021 | $0.056 | OrdinaryDividend |
| May 28, 2021 | $0.061 | OrdinaryDividend |
| Apr 30, 2021 | $0.066 | OrdinaryDividend |
| Mar 31, 2021 | $0.075 | OrdinaryDividend |
| Feb 26, 2021 | $0.084 | OrdinaryDividend |
| Jan 29, 2021 | $0.089 | OrdinaryDividend |
| Aug 31, 2020 | $0.090 | OrdinaryDividend |
| Jul 31, 2020 | $0.090 | OrdinaryDividend |
| Jun 30, 2020 | $0.080 | OrdinaryDividend |
| May 29, 2020 | $0.060 | OrdinaryDividend |
| Apr 30, 2020 | $0.061 | OrdinaryDividend |
| Mar 31, 2020 | $0.070 | OrdinaryDividend |
| Feb 28, 2020 | $0.090 | OrdinaryDividend |
| Jan 31, 2020 | $0.100 | OrdinaryDividend |
| Dec 31, 2019 | $0.716 | OrdinaryDividend |
| Nov 29, 2019 | $0.120 | OrdinaryDividend |
| Oct 31, 2019 | $0.120 | OrdinaryDividend |
| Sep 30, 2019 | $0.120 | OrdinaryDividend |
| Jun 28, 2019 | $0.120 | OrdinaryDividend |
| May 31, 2019 | $0.120 | OrdinaryDividend |
| Apr 30, 2019 | $0.120 | OrdinaryDividend |
| Mar 29, 2019 | $0.120 | OrdinaryDividend |
| Feb 28, 2019 | $0.125 | OrdinaryDividend |
| Jan 31, 2019 | $0.128 | OrdinaryDividend |
| Dec 31, 2018 | $0.125 | OrdinaryDividend |
| Nov 30, 2018 | $0.120 | OrdinaryDividend |
| Oct 31, 2018 | $0.115 | OrdinaryDividend |
| Sep 28, 2018 | $0.113 | OrdinaryDividend |
| Aug 31, 2018 | $0.113 | OrdinaryDividend |
| Jul 31, 2018 | $0.113 | OrdinaryDividend |
| Jun 29, 2018 | $0.115 | OrdinaryDividend |
| May 31, 2018 | $0.121 | OrdinaryDividend |
| Apr 30, 2018 | $0.126 | OrdinaryDividend |
| Mar 29, 2018 | $0.116 | OrdinaryDividend |
| Feb 28, 2018 | $0.111 | OrdinaryDividend |
| Jan 31, 2018 | $0.101 | OrdinaryDividend |
| Dec 29, 2017 | $0.090 | OrdinaryDividend |
| Nov 30, 2017 | $0.087 | OrdinaryDividend |
| Oct 31, 2017 | $0.115 | OrdinaryDividend |
| Sep 29, 2017 | $0.101 | OrdinaryDividend |
| Aug 31, 2017 | $0.104 | OrdinaryDividend |
| Jul 31, 2017 | $0.099 | OrdinaryDividend |
| Jun 30, 2017 | $0.095 | OrdinaryDividend |
| May 31, 2017 | $0.099 | OrdinaryDividend |
| Apr 28, 2017 | $0.090 | OrdinaryDividend |
| Mar 31, 2017 | $0.111 | OrdinaryDividend |
FIXD - Fund Manager Analysis
Managers
Stephen Kane
Start Date
Tenure
Tenure Rank
Feb 14, 2017
5.29
5.3%
Stephen M. Kane, CFA Group Managing Director U.S. Fixed Income Mr. Kane is a Generalist Portfolio Manager in the U.S. Fixed Income Group. He joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). At MetWest, Mr. Kane was responsible for leading MetWest's AlphaTrak, Ultra Short and Liability Driven Investment (LDI) products, and he co-manages many of the firm's mutual funds. Under his co-leadership, the MetWest investment team was recognized as Morningstar's Fixed Income Manager of the Year for 2005. Prior to establishing MetWest, he was a fixed income portfolio manager at Hotchkis and Wiley. He also served as a Vice President at PIMCO. Mr. Kane earned a BS in Business from the University of California, Berkeley and an MBA from the University of Chicago Booth School of Business.
Bryan Whalen
Start Date
Tenure
Tenure Rank
Feb 14, 2017
5.29
5.3%
Bryan T. Whalen, CFA Group Managing Director U.S. Fixed Income Mr. Whalen is a Generalist Portfolio Manager in the U.S. Fixed Income Group. Mr. Whalen joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest) as co-head of the Securitized Products division. Prior to joining TCW, Mr. Whalen was a partner and co-head of MetWest's Securitized Products division. Prior to joining MetWest in 2004, he was a director in the fixed income department at Credit Suisse First Boston in New York. Previously, he was a vice president at Donaldson, Lufkin & Jenrette. Mr. Whalen earned a BA in Economics from Yale University. He is a CFA charterholder.
Laird Landmann
Start Date
Tenure
Tenure Rank
Feb 14, 2017
5.29
5.3%
Laird R. Landmann Group Managing Director Co-Director Fixed Income U.S. Fixed Income Mr. Landmann is a Generalist Portfolio Manager in the U.S. Fixed Income Group. He joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest). Mr. Landmann currently serves on the boards of the Trust Company of the West and the Metropolitan West Mutual Funds. He is a leader of the MetWest investment team that was recognized as Morningstar's Fixed Income Manager of the Year for 2005 and has been nominated for the award eight times. Prior to founding MetWest in 1996, Mr. Landmann was a principal and the co-director of fixed income at Hotchkis and Wiley. He also served as a portfolio manager and vice president at PIMCO. Mr. Landmann holds an AB in Economics from Dartmouth College and an MBA from the University of Chicago Booth School of Business.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 33.43 | 6.81 | 1.16 |
