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First Trust Multi-Manager Large Growth ETF
Active ETF
MMLG
Payout Change
Suspended
Price as of:
$26.3652
+0.52
+2.0%
primary theme
U.S. Large-Cap Growth Equity
MMLG (ETF)
First Trust Multi-Manager Large Growth ETF
Payout Change
Suspended
Price as of:
$26.3652
+0.52
+2.0%
primary theme
U.S. Large-Cap Growth Equity
MMLG (ETF)
First Trust Multi-Manager Large Growth ETF
Payout Change
Suspended
Price as of:
$26.3652
+0.52
+2.0%
primary theme
U.S. Large-Cap Growth Equity
Name
As of 04/23/2024Price
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
9.9%
1 yr return
39.4%
3 Yr Avg Return
0.8%
5 Yr Avg Return
N/A
Net Assets
$68.8 M
Holdings in Top 10
47.7%
52 WEEK LOW AND HIGH
$25.8
$18.67
$27.72
Expenses
OPERATING FEES
Expense Ratio 0.85%
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 04/23/2024Price
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
MMLG - Profile
Distributions
- YTD Total Return 9.9%
- 3 Yr Annualized Total Return 0.8%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.49%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameFirst Trust Multi-Manager Large Growth ETF
-
Fund Family NameFirst Trust Advisors L.P
-
Inception DateJul 21, 2020
-
Shares Outstanding3700002
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDaniel Lindquist
Fund Description
Under normal market conditions, the Fund invests at least 80% of its net assets (including investment borrowings) in equity securities issued by large capitalization companies. The Fund considers large capitalization companies to be those companies with market capitalizations within the market capitalization range of the companies comprising the Russell 1000 Growth Index (as of the index’s most recent reconstitution). The Fund’s portfolio is principally composed of common stocks issued by companies domiciled in the United States, common stocks issued by non-U.S. companies that are principally traded in the United States and American Depositary Receipts.The Fund utilizes a multi-manager approach to provide exposure to the large capitalization growth segment of the equity market through the blending of multiple portfolio management teams. This multi-manager approach seeks to provide investors with diversified expertise from leading asset management firms that each utilizes its own experience, philosophy and strategy for investing in the large capitalization growth segment of the equity market. The Fund’s investment advisor, First Trust Advisors L.P. (“First Trust” or the “Advisor”), is responsible for selecting and overseeing these investment sub-advisors (each, a “Sub-Advisor”). In selecting the Sub-Advisors, First Trust undertakes rigorous due diligence with the aim of identifying high quality managers with investment strategies that emphasize a long-term outlook and have a consistent track record of success over multiple time periods. Each Sub-Advisor selected by First Trust is responsible for providing recommendations to First Trust regarding the selection and allocation of the securities in its allocated portion of the Fund’s assets.First Trust has selected Wellington Management Company LLP (“Wellington”) and Sands Capital Management, LLC (“Sands Capital”) to each serve as a Sub-Advisor to the Fund and has equally allocated the Fund’s assets between them. The Sub-Advisor allocations will drift over time due to market conditions and security selection, and First Trust will seek to rebalance the Sub-Advisors back to equal-weight should one Sub-Advisor generally account for more than 60% of the total net assets for a period of time. Given the complementary investment styles of each Sub-Advisor, the rebalance is designed to maintain meaningful investment exposure to each Sub-Advisor over time to achieve the stated investment objective. First Trust may also recommend to the Board of Trustees of the Trust (the “Board”) additional Sub-Advisors, replacement Sub-Advisors or changes in the allocation of the Fund’s assets among the Sub-Advisors.The starting universe of securities for each Sub-Advisor generally will consist of the constituent securities of the Russell 1000 Growth Index. Wellington recommends securities to First Trust with respect to its allocated portion of the Fund’s assets pursuant to Wellington’s investment philosophy that improvement in the quality of company fundamentals is often a powerful and persistent signal for long-term returns. Wellington generally focuses on a lower beta profile compared to typical growth portfolios, which Wellington believes has the potential to offer downside protection in periods of volatility. Utilizing a fundamental research framework, Wellington seeks to identify companies with improving quality and attractive fundamentals that are undervalued as a result of investors’ tendency to underappreciate the long-term potential of improving quality trends.As part of its fundamental research framework, Wellington generally evaluates companies using three primary factors: (1) quality, including but not limited to evaluation of capital structure, return on assets, return on equity and capital allocation; (2) valuation, including but not limited to earnings ratios and cash flow ratios; and (3) momentum, including but not limited to trajectory of revenue and earnings revisions. Through detailed bottom-up analysis, Wellington makes recommendations to First Trust for Wellington’s portion of the Fund’s portfolio based on company meetings, management quality and track record and identifying key drivers of business performance.Sands Capital recommends securities to First Trust with respect to its allocated portion of the Fund’s assets pursuant to its investment focus on a growth-oriented investment philosophy that is rooted in the belief that, over time, common stock prices will reflect the earnings power and growth of the underlying business. Sands Capital employs a research focused strategy that seeks to identify high-quality, wealth-creating growth businesses using a fundamental, business-focused research approach. As part of the fundamental research, Sands Capital will utilize quantitative and qualitative research to analyze six key factors to narrow the investable universe: (1) sustainable above-average earnings growth; (2) leadership position in a promising business space; (3) significant competitive advantages in a particular segment of the market; (4) clear mission and value-added focus; (5) financial strength; and (6) rational valuation relative to the market and business prospects. Through the fundamental financial research, Sands Capital will review each company’s valuation on an absolute basis, as well as relative to the overall market, its competitors, and its own business and growth prospects. Sands Capital will utilize both publicly available market data and internal projections from its proprietary earnings models, which incorporate quantitative metrics including but not limited to price-to earnings ratio, price-to-cash flow ratio and, where appropriate, price-to-sales ratio, price-to-book ratio and/or enterprise-value-to-EBITDA ratio.Sands Capital manages its allocated assets through a conviction-based weighting, generally allowing higher-conviction holdings to rise in weight through appreciation, or by allocating more weight through purchases to increase them, while maintaining smaller weights for those holdings with lower relative conviction. Conviction in a company’s strength is based on the fundamental review of the six key factors described above, duration and sustainability of growth, and the relative attractiveness of valuation. Strategically, Sands Capital’s allocated portion of the Fund’s portfolio is a conviction-weighted rank of businesses that are generally classified into in three categories: small weights (0-2.5 percent); medium weights (2.5-5.0 percent); and large weights (5.0 percent or greater).As of November 30, 2023, the Fund had significant investments in information technology companies, although this may change from time to time. 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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MMLG - Performance
Return Ranking - Trailing
| Period | MMLG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.9% | -18.2% | 17.8% | 5.85% |
| 1 Yr | 39.4% | -22.9% | 52.5% | 2.16% |
| 3 Yr | 0.8%* | -31.1% | 21.6% | 78.22% |
| 5 Yr | N/A* | -16.6% | 28.0% | 64.94% |
| 10 Yr | N/A* | -6.0% | 18.4% | 81.75% |
* Annualized
Return Ranking - Calendar
| Period | MMLG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 45.2% | -74.1% | 72.4% | 12.20% |
| 2022 | -39.2% | -85.9% | 4.7% | 74.63% |
| 2021 | 13.2% | -52.4% | 60.5% | 32.68% |
| 2020 | N/A | -34.3% | 145.0% | N/A |
| 2019 | N/A | -21.8% | 49.4% | N/A |
Total Return Ranking - Trailing
| Period | MMLG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 9.9% | -18.2% | 17.8% | 5.85% |
| 1 Yr | 39.4% | -22.9% | 52.5% | 2.16% |
| 3 Yr | 0.8%* | -31.1% | 21.6% | 78.22% |
| 5 Yr | N/A* | -16.6% | 28.0% | N/A |
| 10 Yr | N/A* | -6.0% | 18.4% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MMLG Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 45.2% | -4.6% | 72.4% | 17.82% |
| 2022 | -39.2% | -61.7% | 5.6% | 90.96% |
| 2021 | 13.2% | -39.8% | 118.1% | 82.50% |
| 2020 | N/A | 2.8% | 149.2% | N/A |
| 2019 | N/A | -5.2% | 49.4% | N/A |
MMLG - Holdings
Concentration Analysis
| MMLG | Category Low | Category High | MMLG % Rank | |
|---|---|---|---|---|
| Net Assets | 68.8 M | 242 K | 269 B | 90.19% |
| Number of Holdings | 76 | 1 | 3217 | 34.30% |
| Net Assets in Top 10 | 24.3 M | 104 K | 111 B | 91.43% |
| Weighting of Top 10 | 47.66% | 0.7% | 205.0% | 60.60% |
Top 10 Holdings
- Microsoft Corp 10.26%
- Amazon.com Inc 7.47%
- NVIDIA Corp 5.46%
- ServiceNow Inc 4.95%
- Meta Platforms Inc 4.47%
- Apple Inc 4.31%
- Dexcom Inc 3.12%
- Alphabet Inc 2.63%
- Visa Inc 2.61%
- Netflix Inc 2.37%
Asset Allocation
| Weighting | Return Low | Return High | MMLG % Rank | |
|---|---|---|---|---|
| Stocks | 97.52% | 0.00% | 130.05% | 75.04% |
| Cash | 2.48% | -1.50% | 173.52% | 25.13% |
| Preferred Stocks | 0.00% | 0.00% | 7.84% | 93.21% |
| Other | 0.00% | -43.49% | 50.04% | 90.07% |
| Convertible Bonds | 0.00% | 0.00% | 1.94% | 92.43% |
| Bonds | 0.00% | 0.00% | 104.15% | 92.70% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MMLG % Rank | |
|---|---|---|---|---|
| Technology | 37.83% | 0.00% | 65.70% | 39.63% |
| Consumer Cyclical | 17.32% | 0.00% | 62.57% | 37.50% |
| Communication Services | 14.50% | 0.00% | 66.40% | 15.65% |
| Healthcare | 14.16% | 0.00% | 39.76% | 35.46% |
| Financial Services | 7.67% | 0.00% | 43.06% | 63.86% |
| Industrials | 3.14% | 0.00% | 30.65% | 82.57% |
| Real Estate | 2.87% | 0.00% | 16.05% | 17.69% |
| Consumer Defense | 1.81% | 0.00% | 25.50% | 74.32% |
| Basic Materials | 0.70% | 0.00% | 18.91% | 64.37% |
| Utilities | 0.00% | 0.00% | 16.07% | 95.32% |
| Energy | 0.00% | 0.00% | 41.09% | 97.70% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MMLG % Rank | |
|---|---|---|---|---|
| US | 97.52% | 0.00% | 130.05% | 60.19% |
| Non US | 0.00% | 0.00% | 78.10% | 94.14% |
MMLG - Expenses
Operational Fees
| MMLG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.85% | 0.01% | 19.54% | 61.36% |
| Management Fee | 0.85% | 0.00% | 1.50% | 91.22% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 18.67% |
| Administrative Fee | N/A | 0.01% | 1.02% | N/A |
Sales Fees
| MMLG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 8.50% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MMLG 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.
| MMLG Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 316.74% | N/A |
MMLG - Distributions
Dividend Yield Analysis
| MMLG | Category Low | Category High | MMLG % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 28.61% | 98.55% |
Dividend Distribution Analysis
| MMLG | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Annual | Annual |
Net Income Ratio Analysis
| MMLG | Category Low | Category High | MMLG % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.49% | -6.13% | 3.48% | 63.52% |
Capital Gain Distribution Analysis
| MMLG | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
MMLG - Fund Manager Analysis
Managers
Daniel Lindquist
Start Date
Tenure
Tenure Rank
Jul 20, 2020
1.86
1.9%
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.
A. Michael Sramek
Start Date
Tenure
Tenure Rank
Jul 20, 2020
1.86
1.9%
A. Michael Sramek, CFA, is a portfolio manager, Research Analyst, Senior Portfolio Manager, and Managing Director, has been with Sands Capital since 2001. Prior to joining Sands Capital, he was a Research Analyst at Mastrapasqua & Associates during 2000. Prior to obtaining his MBA in 2000, he was an Associate, Plan Sponsor Services at BARRA/Rogers Casey from 1995 to 1998.
Chris Peterson
Start Date
Tenure
Tenure Rank
Jul 20, 2020
1.86
1.9%
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.
Douglas McLane
Start Date
Tenure
Tenure Rank
Jul 20, 2020
1.86
1.9%
Doug is an equity portfolio manager on the Disciplined Equity Team. He manages equity assets on behalf of our clients, drawing on research from Wellington Management’s global industry analysts, equity portfolio managers, and team analysts. He currently manages the Brand Power and Disciplined Total Return Growth approaches. Additionally, he conducts fundamental analysis on equity investments, focusing on the consumer, industrials, and materials sectors. His research supports the investment decision making for a range of portfolios managed for clients of the firm. He works in our Boston office. Prior to joining Wellington Management in 2011, Doug worked as a portfolio manager at Samlyn Capital (2009 – 2011) and as an analyst at Sirios Capital Management (2003 – 2009). Before earning his MBA, he held a variety of positions at Kozmo.com (1999 – 2001) and The Carson Group (1996 – 1999). Doug earned his MBA from the Kellogg School of Management at Northwestern University (2003) and his BA in history from Princeton University (1996). Additionally, he holds the Chartered Financial Analyst designation and is a member of the CFA institute.
Jon Erickson
Start Date
Tenure
Tenure Rank
Jul 20, 2020
1.86
1.9%
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
Jul 20, 2020
1.86
1.9%
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
Jul 20, 2020
1.86
1.9%
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.
Wesley Johnston
Start Date
Tenure
Tenure Rank
Jul 20, 2020
1.86
1.9%
Mr. Johnston, Portfolio Manager and Senior Research Analyst, has been with Sands Capital since 2004.
Thomas Trentman
Start Date
Tenure
Tenure Rank
Jul 20, 2020
1.86
1.9%
Joined Sands Capital in 2005 • Portfolio Manager, Sr. Research Analyst (2016-2020) • Portfolio Manager, Research Analyst (2011-2016) • Research Analyst (2008-2011) • Research Associate (2005-2008) Washington & Lee University • BS, Physics-Engineering (2005) • BA, Chemistry (2005)
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 |
|---|---|---|---|
| 0.04 | 54.45 | 8.22 | 3.08 |
