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First Trust Limited Duration Investment Grade Corporate ETF
Active ETF
FSIG
Payout Change
Pending
Price as of:
$18.67
+0.01
+0.05%
primary theme
N/A
FSIG (ETF)
First Trust Limited Duration Investment Grade Corporate ETF
Payout Change
Pending
Price as of:
$18.67
+0.01
+0.05%
primary theme
N/A
FSIG (ETF)
First Trust Limited Duration Investment Grade Corporate ETF
Payout Change
Pending
Price as of:
$18.67
+0.01
+0.05%
primary theme
N/A
Name
As of 04/12/2024Price
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
First Trust Limited Duration Investment Grade Corporate ETF
FSIG | Active ETF
$18.67
$1.04 B
0.00%
0.55%
Vitals
YTD Return
-0.4%
1 yr return
3.6%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$1.04 B
Holdings in Top 10
12.4%
52 WEEK LOW AND HIGH
$18.7
$18.23
$19.01
Expenses
OPERATING FEES
Expense Ratio 0.55%
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 04/12/2024Price
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
First Trust Limited Duration Investment Grade Corporate ETF
FSIG | Active ETF
$18.67
$1.04 B
0.00%
0.55%
FSIG - Profile
Distributions
- YTD Total Return -0.4%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameFirst Trust Limited Duration Investment Grade Corporate ETF
-
Fund Family NameFirst Trust Advisors L.P.
-
Inception DateNov 17, 2021
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffrey Scott
Fund Description
Under normal market conditions, the Fund seeks to achieve its objectives by investing at least 80% of its net assets (plus any borrowings for investment purposes) in investment grade corporate debt securities. Corporate debt securities are debt obligations issued by businesses to finance their operations. Notes, bonds, loans, debentures and commercial paper are the most common types of corporate debt securities, with the primary differences being their maturities and secured or unsecured status. Commercial paper has the shortest term and is usually unsecured. Corporate debt securities may have fixed or floating interest rates. The corporate debt securities in which the Fund may investment may include senior loans and covenant-lite loans.At least 80% of the Fund’s net assets will be invested in corporate debt securities that are, at the time of purchase, investment grade (i.e., rated Baa3/BBB- or above) by at least one nationally recognized statistical rating organization (“NRSRO”) rating such securities, or if unrated, debt securities determined by the Fund’s investment advisor to be of comparable quality. In the case of a split rating between one or more of the NRSROs, the Fund will consider the highest rating. For an unrated security to be considered investment grade, the Fund’s investment advisor will consider, at the time of purchase, whether such security is of comparable quality based on fundamental credit analysis of the unrated security and comparable securities that are rated by an NRSRO.The investment philosophy of the Fund's investment advisor is based on the belief that deep fundamental credit analysis performed by a highly experienced credit team, within a risk managed framework, will generate higher absolute and risk-adjusted returns within investment grade debt strategies. This investment philosophy is expressed by the Fund's investment advisor through an investment process that combines rigorous bottom-up fundamental credit analysis and disciplined portfolio construction. Risk management is a critical component of the entire process and is embedded in both the fundamental credit analysis and portfolio construction.The fundamental credit analysis of the Fund's investment advisor involves the evaluation of the macro-economy, industry trends, consistency of cash flows, valuation and management quality, among other considerations. The investment process favors companies that produce relatively stable cash flows through an economic cycle, companies that have valuations supportive of the debt balances and companies that have management teams with a sound track record. The key considerations of portfolio construction include yield curve management, relative value, portfolio diversification, issuer liquidity and continuous monitoring.Under normal market conditions, the Fund seeks to construct a portfolio that has a weighted average duration of +/- one year of the Bloomberg U.S. Corporate 1-5 Year Index. 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, the price of a debt security with a three-year duration would be expected to drop by approximately 3% in response to a 1% increase in interest rates. Therefore, prices of debt securities with shorter durations tend to be less sensitive to interest rate changes than debt securities with longer durations. As the value of a debt 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 investment advisor will utilize third-party models.Although the Fund intends to invest primarily in investment grade corporate debt securities, the Fund may invest up to 20% of its net assets (plus any borrowings for investment purposes) in debt securities of any credit quality, including senior loans and other debt 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 Fund’s investment advisor to be of comparable quality to rated investment grade securities. To the extent the Fund purchases or sells securities in delayed settlement transactions (e.g., on a when-issued basis), the Fund will do so pursuant to Rule 18f-4 under the 1940 Act.The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund’s investments will be concentrated (i.e., invest more than 25% of Fund assets) in the industries or group of industries comprising the financials sector.
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FSIG - Performance
Return Ranking - Trailing
| Period | FSIG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.4% | -37.4% | 3.2% | 73.11% |
| 1 Yr | 3.6% | -22.5% | 163.5% | N/A |
| 3 Yr | N/A* | -13.4% | 33.3% | N/A |
| 5 Yr | N/A* | -10.0% | 21.5% | N/A |
| 10 Yr | N/A* | -4.1% | 9.4% | N/A |
* Annualized
Return Ranking - Calendar
| Period | FSIG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.6% | -27.3% | 144.0% | N/A |
| 2022 | -6.7% | -15.7% | 31.5% | N/A |
| 2021 | N/A | -13.0% | 34.5% | N/A |
| 2020 | N/A | -52.0% | 4.7% | N/A |
| 2019 | N/A | -3.1% | 13.4% | N/A |
Total Return Ranking - Trailing
| Period | FSIG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.4% | -37.4% | 2.2% | 77.04% |
| 1 Yr | 3.6% | -22.5% | 163.5% | N/A |
| 3 Yr | N/A* | -13.4% | 33.3% | N/A |
| 5 Yr | N/A* | -10.0% | 21.5% | N/A |
| 10 Yr | N/A* | -4.1% | 9.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | FSIG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.2% | -27.3% | 144.0% | N/A |
| 2022 | -4.4% | -15.7% | 31.5% | N/A |
| 2021 | N/A | -13.0% | 34.5% | N/A |
| 2020 | N/A | -14.8% | 4.7% | N/A |
| 2019 | N/A | -3.1% | 13.4% | N/A |
FSIG - Holdings
Concentration Analysis
| FSIG | Category Low | Category High | FSIG % Rank | |
|---|---|---|---|---|
| Net Assets | 1.04 B | 6.52 M | 44.4 B | 94.20% |
| Number of Holdings | 246 | 2 | 9191 | 64.48% |
| Net Assets in Top 10 | 122 M | -29.6 M | 3.34 B | 73.13% |
| Weighting of Top 10 | 12.44% | 1.8% | 100.0% | 44.91% |
Top 10 Holdings
- GLOBAL PAYMENTS INC 1.63%
- MSCI Inc 1.51%
- Open Text Corp 1.38%
- United Rentals North America Inc 1.27%
- Berry Global Inc 1.18%
- IQVIA Inc 1.14%
- Brown Brown Inc 1.11%
- Morgan Stanley 1.09%
- Workday Inc 1.08%
- JPMorgan Chase Co 1.07%
Asset Allocation
| Weighting | Return Low | Return High | FSIG % Rank | |
|---|---|---|---|---|
| Bonds | 98.61% | 15.65% | 141.47% | 70.15% |
| Cash | 1.39% | -49.09% | 54.19% | 20.30% |
| Stocks | 0.00% | 0.00% | 5.27% | 12.54% |
| Preferred Stocks | 0.00% | 0.00% | 9.18% | 24.48% |
| Other | 0.00% | -38.92% | 3.98% | 6.27% |
| Convertible Bonds | 0.00% | 0.00% | 78.47% | 58.81% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FSIG % Rank | |
|---|---|---|---|---|
| Derivative | 0.00% | 0.00% | 27.02% | 18.21% |
| Cash & Equivalents | 0.00% | 0.00% | 54.19% | 23.28% |
| Securitized | 0.00% | 0.00% | 23.18% | 58.21% |
| Corporate | 0.00% | 41.80% | 100.00% | 44.78% |
| Municipal | 0.00% | 0.00% | 3.62% | 45.37% |
| Government | 0.00% | 0.00% | 25.63% | 64.18% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FSIG % Rank | |
|---|---|---|---|---|
| US | 98.61% | 0.00% | 122.90% | 52.54% |
| Non US | 0.00% | 0.00% | 47.05% | 59.40% |
FSIG - Expenses
Operational Fees
| FSIG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.55% | 0.03% | 3.62% | 42.90% |
| Management Fee | 0.55% | 0.00% | 1.35% | 93.78% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | 1.06% |
| Administrative Fee | N/A | 0.02% | 0.45% | N/A |
Sales Fees
| FSIG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 4.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| FSIG 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.
| FSIG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 259.00% | N/A |
FSIG - Distributions
Dividend Yield Analysis
| FSIG | Category Low | Category High | FSIG % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 25.68% | 64.78% |
Dividend Distribution Analysis
| FSIG | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| FSIG | Category Low | Category High | FSIG % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | 0.38% | 7.58% | N/A |
Capital Gain Distribution Analysis
| FSIG | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 28, 2024 | $0.073 | OrdinaryDividend |
| Feb 29, 2024 | $0.073 | OrdinaryDividend |
| Jan 31, 2024 | $0.073 | OrdinaryDividend |
| Dec 29, 2023 | $0.073 | OrdinaryDividend |
| Nov 30, 2023 | $0.075 | OrdinaryDividend |
| Oct 31, 2023 | $0.075 | OrdinaryDividend |
| Sep 29, 2023 | $0.075 | OrdinaryDividend |
| Aug 31, 2023 | $0.075 | OrdinaryDividend |
| Jul 31, 2023 | $0.070 | OrdinaryDividend |
| Jun 30, 2023 | $0.070 | OrdinaryDividend |
| May 31, 2023 | $0.070 | OrdinaryDividend |
| Apr 28, 2023 | $0.070 | OrdinaryDividend |
| Mar 31, 2023 | $0.065 | OrdinaryDividend |
| Feb 28, 2023 | $0.060 | OrdinaryDividend |
| Jan 31, 2023 | $0.060 | OrdinaryDividend |
| Dec 30, 2022 | $0.060 | OrdinaryDividend |
| Nov 30, 2022 | $0.055 | OrdinaryDividend |
| Oct 31, 2022 | $0.050 | OrdinaryDividend |
| Sep 30, 2022 | $0.050 | OrdinaryDividend |
| Aug 31, 2022 | $0.045 | OrdinaryDividend |
| Jul 29, 2022 | $0.040 | OrdinaryDividend |
| Jun 30, 2022 | $0.035 | OrdinaryDividend |
| May 31, 2022 | $0.030 | OrdinaryDividend |
| Apr 29, 2022 | $0.025 | OrdinaryDividend |
| Mar 31, 2022 | $0.025 | OrdinaryDividend |
| Feb 28, 2022 | $0.025 | OrdinaryDividend |
| Jan 31, 2022 | $0.023 | OrdinaryDividend |
| Dec 31, 2021 | $0.023 | OrdinaryDividend |
FSIG - Fund Manager Analysis
Managers
Jeffrey Scott
Start Date
Tenure
Tenure Rank
Nov 17, 2021
0.53
0.5%
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.
Nathan Simons
Start Date
Tenure
Tenure Rank
Nov 17, 2021
0.53
0.5%
Nathan Simons, CFA, joined First Trust Advisors in 2020 as a Credit Analyst for the Investment Grade Fixed Income Team. He has 11 year of investment experience. Prior to joining First Trust, Mr. Simons was a Credit Analyst/Portfolio Analyst at Great West Financial covering both investment grade and high yield issuers for stable value and other short duration strategies. His prior positions include Research Analyst in both public and private debt at Navy Mutual Aid association. Mr. Simons received his B.S. in Mathematics and Economics from Hillsdale College. He holds the Chartered Financial Analyst designation.
William Housey
Start Date
Tenure
Tenure Rank
Nov 17, 2021
0.53
0.5%
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.
Eric Maisel
Start Date
Tenure
Tenure Rank
Nov 17, 2021
0.53
0.5%
ERIC R. MAISEL, VICE PRESIDENT OF FIRST TRUST PORTFOLIOS L.P. Eric R. Maisel joined First Trust Portfolios in March 2011 and is a Vice President and Fixed Income Portfolio Manager of First Trust. His previous positions include Senior Portfolio Manager for the Ascendant Structured Credit Opportunity Fund, Managing Director and Senior Portfolio Manager for the Black River Global Credit Fund, Vice President and Senior Trader for the Cargill Financial Markets Group and Senior Corporate Bond Trader for American General Corporation. Eric earned his B.A., summa cum laude, from the University of Pittsburgh, and his M.Sc. from Oxford University - which he attended on a British Marshall Scholarship. He is also a member of the CFA Society of Chicago and the CFA Institute.
Todd Larson
Start Date
Tenure
Tenure Rank
Nov 17, 2021
0.53
0.5%
Todd W. Larson, CFA, was born in 1964. Mr. Larson earned a B.A. in Business Administration from North Park College. He has been with First Trust Advisors L.P. since 2007 and he is a Portfolio Manager and Vice President. As head of FTA’s Fixed Income Group, Mr. Larson shall be responsible for implementation and execution of strategies involving fixed income securities on behalf of the Investment Committee. Prior to joining First Trust, Mr. Larson was a portfolio manager with ABN AMRO Asset Management, Horizon Cash Management and Van Kampen American Capital.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.33 | 24.76 | 6.22 | 2.41 |
