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First Trust TCW Opportunistic Fixed Income ETF

Active ETF
FIXD
Payout Change
Pending
Price as of:
$43.44 -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:
$43.44 -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:
$43.44 -0.04 -0.09%
primary theme
U.S. Intermediate-Term Bond Duration

Name

As of 11/20/2024

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

First Trust TCW Opportunistic Fixed Income ETF

FIXD | Active ETF

$43.44

$5.1 B

4.28%

$1.86

0.65%

Vitals

YTD Return

1.2%

1 yr return

6.8%

3 Yr Avg Return

-3.1%

5 Yr Avg Return

-0.4%

Net Assets

$5.1 B

Holdings in Top 10

58.0%

52 WEEK LOW AND HIGH

$43.5
$42.01
$45.76

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 11/20/2024

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

First Trust TCW Opportunistic Fixed Income ETF

FIXD | Active ETF

$43.44

$5.1 B

4.28%

$1.86

0.65%

FIXD - Profile

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return -3.1%
  • 5 Yr Annualized Total Return -0.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.34%
DIVIDENDS
  • Dividend Yield 4.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust TCW Opportunistic Fixed Income ETF
  • Fund Family Name
    First Trust Advisors L.P
  • Inception Date
    Feb 14, 2017
  • Shares Outstanding
    89000002
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Stephen 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 1.2% -6.4% 11.1% 85.11%
1 Yr 6.8% -2.1% 16.2% 57.08%
3 Yr -3.1%* -10.6% 27.5% 83.23%
5 Yr -0.4%* -7.5% 58.4% 70.74%
10 Yr N/A* -2.9% 73.8% 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% 72.94%
2022 -17.5% -34.7% 131.9% 82.42%
2021 -2.8% -11.6% 4.4% 24.42%
2020 5.6% -10.1% 946.1% 21.16%
2019 5.0% -1.7% 16.9% 68.56%

Total Return Ranking - Trailing

Period FIXD Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -6.4% 11.1% 85.11%
1 Yr 6.8% -2.1% 16.2% 57.08%
3 Yr -3.1%* -10.6% 27.5% 83.23%
5 Yr -0.4%* -7.5% 58.4% 70.74%
10 Yr N/A* -2.9% 73.8% N/A

* Annualized

Total Return Ranking - Calendar

Period FIXD Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -11.3% 11.9% 62.24%
2022 -15.0% -32.2% 131.9% 85.79%
2021 -1.3% -9.4% 9.2% 60.73%
2020 8.9% -1.9% 1009.0% 37.09%
2019 9.3% 1.1% 21668.0% 38.55%

FIXD - Holdings

Concentration Analysis

FIXD Category Low Category High FIXD % Rank
Net Assets 5.1 B 2.9 M 314 B 25.13%
Number of Holdings 904 1 17787 44.19%
Net Assets in Top 10 3.06 B 1.62 M 35.1 B 14.49%
Weighting of Top 10 57.97% 4.4% 432.9% 7.64%

Top 10 Holdings

  1. Dreyfus Government Cash Management 15.41%
  2. United States Treasury Note/Bond 9.08%
  3. United States Treasury Note/Bond 8.72%
  4. United States Treasury Note/Bond 5.56%
  5. United States Treasury Note/Bond 4.94%
  6. United States Treasury Note/Bond 3.80%
  7. United States Treasury Note/Bond 3.39%
  8. Fannie Mae or Freddie Mac 2.63%
  9. United States Treasury Note/Bond 2.46%
  10. United States Treasury Note/Bond - When Issued 1.98%

Asset Allocation

Weighting Return Low Return High FIXD % Rank
Bonds 		111.82% 0.00% 993.61% 8.10%
Cash 		15.41% -54.51% 237.69% 7.09%
Other 		4.26% -16.55% 52.94% 49.23%
Convertible Bonds 		1.57% 0.00% 7.93% 45.65%
Stocks 		0.00% 0.00% 99.99% 90.36%
Preferred Stocks 		0.00% 0.00% 71.02% 88.80%

Bond Sector Breakdown

Weighting Return Low Return High FIXD % Rank
Securitized 		39.76% 0.00% 98.40% 23.08%
Government 		31.24% 0.00% 86.23% 35.92%
Corporate 		23.84% 0.00% 100.00% 73.81%
Cash & Equivalents 		15.41% -0.46% 237.69% 6.78%
Municipal 		0.74% 0.00% 100.00% 33.02%
Derivative 		-0.08% -1.58% 44.82% 93.01%

Bond Geographic Breakdown

Weighting Return Low Return High FIXD % Rank
US 		110.45% 0.00% 993.61% 8.63%
Non US 		1.37% 0.00% 30.95% 22.40%

FIXD - Expenses

Operational Fees

FIXD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.01% 39.64% 54.50%
Management Fee 0.65% 0.00% 1.76% 98.44%
12b-1 Fee 0.00% 0.00% 1.00% 13.70%
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% 4.00% 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 4.28% 0.00% 10.11% 25.95%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

FIXD Category Low Category High FIXD % Rank
Net Income Ratio 1.34% -1.28% 4.79% 72.81%

Capital Gain Distribution Analysis

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

Distributions History

View More +

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
0.08 33.43 6.77 1.16

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