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Multi-Asset Diversified Income Index Fund

ETF
MDIV
Payout Change
Pending
Price as of:
$15.52 -0.02 -0.13%
primary theme
U.S. Balanced Allocation
MDIV (ETF)

Multi-Asset Diversified Income Index Fund

Payout Change
Pending
Price as of:
$15.52 -0.02 -0.13%
primary theme
U.S. Balanced Allocation
MDIV (ETF)

Multi-Asset Diversified Income Index Fund

Payout Change
Pending
Price as of:
$15.52 -0.02 -0.13%
primary theme
U.S. Balanced Allocation

Name

As of 02/16/2024

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

$15.52

$413 M

5.71%

$0.89

0.80%

Vitals

YTD Return

-0.4%

1 yr return

4.5%

3 Yr Avg Return

6.2%

5 Yr Avg Return

2.7%

Net Assets

$413 M

Holdings in Top 10

31.4%

52 WEEK LOW AND HIGH

$15.5
$14.05
$15.73

Expenses

OPERATING FEES

Expense Ratio 0.80%

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 02/16/2024

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

$15.52

$413 M

5.71%

$0.89

0.80%

MDIV - Profile

Distributions

  • YTD Total Return -0.4%
  • 3 Yr Annualized Total Return 6.2%
  • 5 Yr Annualized Total Return 2.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.03%
DIVIDENDS
  • Dividend Yield 5.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Multi-Asset Diversified Income Index Fund
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    Aug 13, 2012
  • Shares Outstanding
    28800002
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Lindquist

Fund Description

The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and/or depositary receipts, real estate investment trusts (“REITs”), preferred securities, master limited partnerships (“MLPs”) and exchange-traded fund (“ETF”) that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is owned, developed, calculated and maintained by Nasdaq, Inc. (the “Index Provider”). The Index Provider may, from time to time, exercise reasonable discretion as it deems appropriate in order to ensure Index integrity. The ETF in which the Fund invests may be advised by First Trust Advisors L.P., the Fund’s investment advisor.According to the Index Provider, the Index is designed to provide exposure to five asset segments, each selected to result in a consistent and high yield for the Index. These five asset segments are: equity securities, REITs, preferred securities, MLPs and high yield corporate bonds. The Index allocates 20% of its weight to the equity securities segment, 20% of its weight to the REIT segment, 20% of its weight to the preferred stocks segment, 20% of its weight to the MLP segment and 20% of its weight to the high yield corporate bond segment. The Index provides exposure to the high yield corporate bond segment through an ETF that invests in high yield corporate debt securities. The Index methodology utilizes separate and distinct eligibility and selection rules for each asset segment that are set forth below. The Fund may invest in floating-rate securities and non-U.S. securities.Equity SecuritiesAccording to the Index Provider, to be eligible for inclusion as part of the equity securities segment of the Index, a security must meet the following criteria: (i) be a member of the Nasdaq US BenchmarkTM Index (the “Nasdaq BenchmarkTM Index”); (ii) not be classified as a Real Estate Investment Trust by the Industry Classification Benchmark (“ICB”); (iii) meet the minimum size requirements of theIndex; (iv) meet the minimum liquidity requirements of theIndex; (v) have paid a regular dividend for each of the last three consecutive years and have not suspended or discontinued its dividend payment; (vi) have positive total earnings over the trailing twelve month period; (vii) have a dividend payout ratio less than or equal to 80%; and (viii) have one year realized volatility less than the Nasdaq US BenchmarkTMIndex one-year realized volatility plus 15%.Of the eligible companies, 50 securities are selected and weighted by dividend yield. If less than 50 securities are eligible, securities will be added back based on the volatility screen such that the securities which were next eligible based on that screen will be added. If 50 securities are still not eligible, the process will be repeated with each of the previous eligibility criterion until 50 securities are achieved. Within the equity securities segment, no single security can have a weight greater than 8%.REITsAccording to the Index Provider, to be eligible for inclusion as part of the REIT segment of the Index, a security must meet the following criteria: (i) be a member of the Nasdaq US BenchmarkTM Index; (ii) be classified as a Real Estate Investment Trust by the ICB; (iii) meet the minimum size requirements of the Index; (iv) meet the minimum liquidity requirements of theIndex; (v) have paid a regular dividend for each of the last three consecutive years and have not suspended or discontinued its dividend payment; (vi) have positive total earnings over the trailing twelve month period; (vii) have a dividend payout ratio less than or equal to 150%; and (viii) have one year realized volatility less than the Nasdaq US BenchmarkTMIndex one-year realized volatility plus 15%.Of the eligible companies, 25 securities are selected and weighted by dividend yield. If less than 25 securities are eligible, securities will be added back based on the volatility screen such that the securities which were next eligible based on that screen will be added. If 25 securities are still not eligible, the process will be repeated with each of the previous eligibility criterion until 25 securities are achieved. Within the REIT segment, no single security can have a weight greater than 8%.Preferred SecuritiesAccording to the Index Provider, to be eligible for inclusion as part of the preferred securities segment of the Index, a security must meet the following criteria: (i) be a member of the Nasdaq US Preferred SecurityTM Index (the “Nasdaq PreferredTM Index”); (ii) meet the minimum size requirements of the Index; (iii) meet the minimum liquidityrequirements; (iv) have not suspended or discontinued its dividend payment; and (v) have one year realized volatility less than the Nasdaq PreferredTMIndex one-year realized volatility plus 15%.All eligible components of the Nasdaq PreferredTMIndexare then ranked based on highest dividend yield and lowestrealized volatility over the trailing 12-month period. The 25 securities with the lowest combined score based on both highest dividend and lowest realized volatility are selected.Within the preferred securities segment, no single security can have a weight greater than 8%.MLPsAccording to the Index Provider, to be eligible for inclusion as part of the MLP segment of the Index, a security must meet the following criteria: (i) be classified as a limited partnership; (ii) be classified as Energyor Industrials by the ICB; (iii) meet the minimum size requirements of theIndex; (iii) meet the minimum liquidity requirements of the Index; (iv) have not suspended or discontinued its dividend payment; and (v) have one year realized volatility less than the DWA MLP Select Index one-year realized volatility plus 15%.Each eligible security will be scored by yield and realized volatility with the highest yielding security scoring 1 and least volatile security a 1. The scores are added and the 25 securities with the lowest scores are selected for inclusion in the Index. If less than 25 securities remain after the screens, securities will be added back based on the volatility screen such that the securities which were next eligible based on that screen will be added. If 25 securities are still not eligible, the process will be repeated with each of the previous eligibility criterion until 25 securities are achieved or until there are no more eligible securities, whichever comes first. The securities are then weighted according to their yield. Within the MLP segment, no single security can have a weight greater than 8%.High Yield Corporate BondsAccording to the Index Provider, to be included as part of the high yield corporate bonds segment of the Index, a security must be a U.S.-listed ETF that invests in high yield corporate bonds and have assets under management of at least $100 million. To the extent that an ETF advised by First Trust Advisors L.P. meets these criteria, it will be selected for inclusion in the Index.The Index is reconstituted and rebalanced quarterly and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public. The Index’s quarterly rebalance and reconstitution schedule may cause the Fund to experience a higher rate of portfolio turnover. The Fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated. As of December 31, 2023, the Index was composed of 121 securities. As of December 31, 2023, the Fund had significant investments in energy companies and financial companies, although this may change from time to time.The Fund's investments will change as the Index changes and, as a result, the Fund may have significant investments in jurisdictions or investment sectors that it may not have had as of December 31, 2023. 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.
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MDIV - Performance

Return Ranking - Trailing

Period MDIV Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -3.8% 8.6% 93.55%
1 Yr 4.5% -12.7% 24.4% 92.99%
3 Yr 6.2%* -6.1% 9.0% 2.47%
5 Yr 2.7%* -4.2% 12.4% 97.81%
10 Yr 3.1%* 0.6% 10.7% 92.72%

* Annualized

Return Ranking - Calendar

Period MDIV Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -12.2% 23.9% 89.93%
2022 -9.8% -34.7% 0.0% 5.17%
2021 10.4% -11.9% 18.1% 15.14%
2020 -20.0% -20.9% 39.7% 99.85%
2019 11.6% 0.8% 25.7% 74.41%

Total Return Ranking - Trailing

Period MDIV Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -3.8% 8.6% 93.55%
1 Yr 4.5% -12.7% 24.4% 92.99%
3 Yr 6.2%* -6.1% 9.0% 2.47%
5 Yr 2.7%* -4.2% 12.4% 97.81%
10 Yr 3.1%* 0.6% 10.7% 92.72%

* Annualized

Total Return Ranking - Calendar

Period MDIV Return Category Return Low Category Return High Rank in Category (%)
2023 11.5% -12.2% 26.8% 76.83%
2022 -3.9% -29.0% 10.9% 3.08%
2021 16.5% -3.0% 24.2% 14.99%
2020 -14.9% -19.5% 40.6% 99.54%
2019 18.6% 4.4% 32.7% 66.56%

MDIV - Holdings

Concentration Analysis

MDIV Category Low Category High MDIV % Rank
Net Assets 413 M 733 K 195 B 65.76%
Number of Holdings 126 2 15744 40.68%
Net Assets in Top 10 130 M 636 K 58.3 B 70.61%
Weighting of Top 10 31.37% 11.4% 118.4% 66.39%

Top 10 Holdings

  1. First Trust Exchange-Traded Fund IV First Trust Tactical High Yield ETF 19.94%
  2. Icahn Enterprises LP 1.83%
  3. Ready Capital Corp 1.35%
  4. Alliance Resource Partners LP 1.33%
  5. Rithm Capital Corp 1.25%
  6. Starwood Property Trust Inc 1.23%
  7. Dorchester Minerals LP 1.16%
  8. Ladder Capital Corp 1.10%
  9. USA Compression Partners LP 1.09%
  10. NuStar Logistics LP 1.09%

Asset Allocation

Weighting Return Low Return High MDIV % Rank
Stocks
79.50% 0.00% 100.28% 44.63%
Preferred Stocks
20.13% 0.00% 25.42% 0.41%
Cash
0.37% -10.21% 100.00% 73.74%
Convertible Bonds
0.17% 0.00% 23.84% 83.01%
Other
0.00% -41.62% 117.44% 76.73%
Bonds
0.00% 0.00% 79.41% 91.29%

Stock Sector Breakdown

Weighting Return Low Return High MDIV % Rank
Energy
34.77% 0.00% 85.65% 1.24%
Real Estate
30.77% 0.00% 65.01% 1.65%
Utilities
8.71% 0.00% 99.55% 6.59%
Financial Services
8.50% 0.00% 38.77% 93.41%
Consumer Defense
5.50% 0.00% 15.14% 80.08%
Industrials
3.24% 0.00% 24.37% 98.49%
Communication Services
2.55% 0.00% 38.10% 94.78%
Healthcare
2.32% 0.00% 29.35% 94.78%
Consumer Cyclical
2.04% 0.00% 19.36% 96.98%
Technology
0.81% 0.00% 44.21% 98.35%
Basic Materials
0.79% 0.00% 33.35% 94.64%

Stock Geographic Breakdown

Weighting Return Low Return High MDIV % Rank
US
79.50% 0.00% 100.28% 44.35%
Non US
0.00% 0.00% 36.85% 86.39%

MDIV - Expenses

Operational Fees

MDIV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.03% 17.63% 69.11%
Management Fee 0.60% 0.00% 1.83% 75.24%
12b-1 Fee 0.00% 0.00% 1.00% 11.56%
Administrative Fee N/A 0.01% 0.83% N/A

Sales Fees

MDIV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

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

MDIV Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 343.00% 70.61%

MDIV - Distributions

Dividend Yield Analysis

MDIV Category Low Category High MDIV % Rank
Dividend Yield 5.71% 0.00% 6.22% 0.14%

Dividend Distribution Analysis

MDIV Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

MDIV Category Low Category High MDIV % Rank
Net Income Ratio 3.03% -2.34% 19.41% 5.86%

Capital Gain Distribution Analysis

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

Distributions History

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MDIV - Fund Manager Analysis

Managers

Daniel Lindquist


Start Date

Tenure

Tenure Rank

Aug 13, 2012

9.8

9.8%

Daniel J. Lindquist, CFA, was born in 1970. Mr. Lindquist earned a B.A. in Business Economics from Wheaton College and has an MBA in Finance from the University of Chicago. He has been with First Trust Advisors L.P. since 2004 and is a Managing Director. Mr. Lindquist is the Chairman of the Investment Committee and is responsible for the overall supervision of the Separate Managed Accounts.

Jon Erickson


Start Date

Tenure

Tenure Rank

Aug 13, 2012

9.8

9.8%

Jon C. Erickson, CFA, was born in 1966. Mr. Erickson earned a B.S. in Computer Science from the University of Illinois and has an MBA from the University of Illinois in Finance. He has been with First Trust Advisors L.P. since 1994 and he is a Portfolio Manager and Senior Vice President. As the head of FTA’s Equity Research Group, Mr. Erickson shall be responsible for determining the securities to be purchased and sold by Funds that do not utilize quantitative investment strategies on behalf of the Investment Committee.

David McGarel


Start Date

Tenure

Tenure Rank

Aug 13, 2012

9.8

9.8%

David G. McGarel, CFA, was born in 1966. Mr. McGarel earned a B.S. in Accounting from the University of Notre Dame. He has been with First Trust Advisors L.P. since 1997 and he is a Managing Director, Chief Operating Officer and the Chief Investment Officer. As head of FTA’s Strategy Research Group, Mr. McGarel shall be responsible for developing and implementing quantitative investment strategies for those Funds that have investment policies that require them to follow such strategies, on behalf of the Investment Committee.

Stan Ueland


Start Date

Tenure

Tenure Rank

Aug 13, 2012

9.8

9.8%

Mr. Ueland joined First Trust Advisors as a Vice President in August 2005 and has been a Senior Vice President of First Trust and FTP since September 2012. At First Trust, he plays an important role in executing the investment strategies of each portfolio of exchange-traded funds advised by First Trust. Before joining First Trust, he was vice president of sales at BondWave LLC from May 2004 through August 2005, an account executive for Mina Capital Management LLC and Samaritan Asset Management LLC from January 2003 through May 2004, and a sales consultant at Oracle Corporation from January 1997 through January 2003.

Roger Testin


Start Date

Tenure

Tenure Rank

Aug 13, 2012

9.8

9.8%

Roger F. Testin, CFA, was born in 1966. Mr. Testin earned a B.S. in Accounting from the University of Illinois and has an MBA in Finance from the University of Chicago. He has been with First Trust Advisors L.P. since 2001 and he is a Portfolio Manager and Senior Vice President. As Product Manager for the VA’s, SMA’s and International Managed Products, Mr. Testin shall be responsible for the daily implementation and execution of the strategies for these product vehicles on behalf of the Investment Committee.

Chris Peterson


Start Date

Tenure

Tenure Rank

Mar 18, 2016

6.21

6.2%

Chris A. Peterson, CFA was born in 1975. Mr. Peterson earned a B.S in Finance from Bradley University and has an MBA from the University of Chicago Booth School of Business with concentrations in Analytic Finance & Accounting. He has been with First Trust Advisors L.P. since 2000. As head of FTA’s Portfolio Advisor’s Strategy Research Group, Mr. Peterson shall be responsible for developing and implementing quantitative equity strategies on behalf of the Investment Committee.

Erik Russo


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Mr. Russo is a Vice President of First Trust. He is responsible for implementing the investment strategies of each portfolio of exchange-traded funds advised by First Trust in his role as a Portfolio Manager. Mr. Russo joined First Trust in January of 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 34.51 6.3 2.41