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Critical Facts You Need to Know About Preferred Stocks
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First Trust Long/Short Equity ETF
Active ETF
FTLS
Payout Change
Pending
Price as of:
$66.5
+0.24
+0.36%
primary theme
Long-Short Equity
FTLS (ETF)
First Trust Long/Short Equity ETF
Payout Change
Pending
Price as of:
$66.5
+0.24
+0.36%
primary theme
Long-Short Equity
FTLS (ETF)
First Trust Long/Short Equity ETF
Payout Change
Pending
Price as of:
$66.5
+0.24
+0.36%
primary theme
Long-Short Equity
Name
As of 12/02/2024Price
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
19.5%
1 yr return
22.0%
3 Yr Avg Return
11.2%
5 Yr Avg Return
10.6%
Net Assets
$980 M
Holdings in Top 10
26.2%
52 WEEK LOW AND HIGH
$66.3
$55.50
$66.50
Expenses
OPERATING FEES
Expense Ratio 1.46%
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 12/02/2024Price
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
FTLS - Profile
Distributions
- YTD Total Return 19.5%
- 3 Yr Annualized Total Return 11.2%
- 5 Yr Annualized Total Return 10.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.28%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameFirst Trust Long/Short Equity ETF
-
Fund Family NameFirst Trust Advisors L.P.
-
Inception DateSep 08, 2014
-
Shares Outstanding9750002
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Gambla
Fund Description
Under normal conditions, the Fund will expose at least 80% of its net assets (including investment borrowings) to U.S. exchange-listed equity securities and/or U.S. exchange-traded funds ("ETFs") that provide exposure to U.S. exchange-listed equity securities. The Fund pursues its investment objective by establishing long and short positions in its portfolio of U.S. exchange-listed equity securities and ETFs. The Fund’s portfolio may include U.S. exchange-listed equity securities of non-U.S. issuers, including the securities of non-U.S. issuers traded on U.S. exchanges in the form of depositary receipts.The Fund’s portfolio is composed of both long and short positions in equity securities and ETFs. As opposed to taking long positions in which an investor seeks to profit from increases in the price of a security, short selling is a technique that will be used by the Fund to try and profit from the falling price of a security. Short selling involves selling a security that has been borrowed from a third party with the intention of buying an identical security back at a later date to return to that third party. Having both long and short positions in an equity security portfolio is a common way to create returns that are independent of market moves. One advantage of a long and short portfolio is that the long and short positions may offset one another in a manner that results in a lower net exposure to the direction of the market. In addition, cash balances arising from the use of short selling typically will be held in money market instruments.The Fund’s investment advisor will manage the Fund’s portfolio using an investment process that analyzes fundamental, market-related, technical and statistical attributes of eligible securities to assess total return potential. The Fund’s investment advisor will then use this analysis as the basis to establish long and short positions within the Fund’s portfolio. The Fund pursues its objective by using a variety of quantitative tools to select securities that the Fund’s investment advisor believes will either outperform (the “long basket”) or underperform (the “short basket”). Preliminary rankings of the positions will rely on the Sabrient Systems Earnings Quality Rank (EQR) model and the proprietary research of the Fund’s investment advisor. Long and short baskets are then integrated and optimized to build a final portfolio. The overall portfolio, under normal market conditions, will be 80 to 100% invested in long positions and 0% to 50% invested in short positions. The Fund will not use proceeds from the short positions to add leverage to the long positions, and as such, the Fund will not have a net long exposure of greater than 100% and may hold a large cash position. The Fund’s investment advisor may alter the size of the short positions and/or the risk profile of the short positions based upon its assessment of the equity markets. Additionally, the notional position of the short positions may be reduced significantly or eliminated temporarily. The Fund and the ETFs held by the Fund may invest in equity securities of master limited partnerships ("MLPs") and real estate investment trusts ("REITs"). As of January 31, 2024 the Fund had significant investments in information technology companies, although this may change from time to time.The Fund may invest up to 20% of its net assets (including investment borrowings) in U.S. exchange-listed equity index futures contracts. These futures contracts will be used to gain long or short exposure to broad based equity indexes.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. The Fund may also invest in companies with various market capitalizations.
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FTLS - Performance
Return Ranking - Trailing
| Period | FTLS Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.5% | -11.6% | 42.3% | 27.89% |
| 1 Yr | 22.0% | -11.9% | 53.4% | 36.05% |
| 3 Yr | 11.2%* | -8.8% | 27.5% | 15.15% |
| 5 Yr | 10.6%* | -2.7% | 23.7% | 19.33% |
| 10 Yr | 8.7%* | -3.8% | 10.1% | 7.46% |
* Annualized
Return Ranking - Calendar
| Period | FTLS Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 15.1% | -17.3% | 43.8% | 12.93% |
| 2022 | -6.3% | -54.0% | 17.4% | 34.09% |
| 2021 | 19.6% | -40.0% | 54.1% | 16.67% |
| 2020 | 2.1% | -47.6% | 88.4% | 58.33% |
| 2019 | 15.2% | -20.3% | 62.6% | 19.47% |
Total Return Ranking - Trailing
| Period | FTLS Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.5% | -11.6% | 42.3% | 27.89% |
| 1 Yr | 22.0% | -11.9% | 53.4% | 36.05% |
| 3 Yr | 11.2%* | -8.8% | 27.5% | 15.15% |
| 5 Yr | 10.6%* | -2.7% | 23.7% | 19.33% |
| 10 Yr | 8.7%* | -3.8% | 10.1% | 7.46% |
* Annualized
Total Return Ranking - Calendar
| Period | FTLS Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 16.9% | -14.5% | 43.8% | 18.37% |
| 2022 | -5.6% | -54.0% | 50.3% | 46.21% |
| 2021 | 19.6% | -40.0% | 61.6% | 26.19% |
| 2020 | 2.6% | -29.9% | 91.0% | 60.00% |
| 2019 | 16.2% | -17.9% | 79.4% | 30.97% |
FTLS - Holdings
Concentration Analysis
| FTLS | Category Low | Category High | FTLS % Rank | |
|---|---|---|---|---|
| Net Assets | 980 M | 1.08 M | 6.67 B | 13.61% |
| Number of Holdings | 473 | 3 | 2730 | 17.69% |
| Net Assets in Top 10 | 385 M | -4.86 M | 2.41 B | 11.56% |
| Weighting of Top 10 | 26.24% | -9.9% | 110.8% | 88.44% |
Top 10 Holdings
- Apple Inc 4.35%
- Microsoft Corp 4.12%
- NVIDIA Corp 3.40%
- Dreyfus Government Cash Management 2.51%
- Amazon.com Inc 2.38%
- Johnson Johnson 1.97%
- Walmart Inc 1.94%
- Bristol-Myers Squibb Co 1.88%
- Citigroup Inc 1.87%
- Arista Networks Inc 1.80%
Asset Allocation
| Weighting | Return Low | Return High | FTLS % Rank | |
|---|---|---|---|---|
| Stocks | 63.96% | -0.13% | 113.26% | 61.90% |
| Cash | 36.05% | 0.00% | 109.95% | 29.25% |
| Preferred Stocks | 0.00% | -1.13% | 6.36% | 48.98% |
| Convertible Bonds | 0.00% | -0.02% | 4.48% | 42.45% |
| Bonds | 0.00% | 0.00% | 108.68% | 59.18% |
| Other | -0.01% | -57.63% | 99.50% | 70.75% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FTLS % Rank | |
|---|---|---|---|---|
| Technology | 19.45% | 0.00% | 43.24% | 44.92% |
| Healthcare | 16.23% | 0.00% | 100.00% | 38.14% |
| Consumer Defense | 13.34% | 0.00% | 19.75% | 9.32% |
| Energy | 8.79% | 0.00% | 32.57% | 16.95% |
| Industrials | 8.28% | 0.00% | 31.93% | 66.10% |
| Real Estate | 7.83% | 0.00% | 10.93% | 1.69% |
| Basic Materials | 7.26% | 0.00% | 28.58% | 11.02% |
| Financial Services | 5.82% | 0.00% | 83.83% | 87.29% |
| Consumer Cyclical | 5.47% | 0.00% | 88.83% | 86.44% |
| Utilities | 4.46% | 0.00% | 21.71% | 15.25% |
| Communication Services | 3.07% | 0.00% | 32.32% | 79.66% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FTLS % Rank | |
|---|---|---|---|---|
| US | 63.96% | 0.00% | 113.26% | 52.38% |
| Non US | 0.00% | -2.95% | 54.79% | 53.74% |
FTLS - Expenses
Operational Fees
| FTLS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.46% | 0.42% | 9.95% | 85.71% |
| Management Fee | 0.95% | 0.00% | 2.50% | 25.85% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 14.10% |
| Administrative Fee | N/A | 0.03% | 1.54% | N/A |
Sales Fees
| FTLS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| FTLS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 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.
| FTLS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 446.00% | 84.77% |
FTLS - Distributions
Dividend Yield Analysis
| FTLS | Category Low | Category High | FTLS % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.60% | 0.00% | 27.22% | 56.85% |
Dividend Distribution Analysis
| FTLS | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Annual | Annual |
Net Income Ratio Analysis
| FTLS | Category Low | Category High | FTLS % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.28% | -3.33% | 2.16% | 30.34% |
Capital Gain Distribution Analysis
| FTLS | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 26, 2024 | $0.265 | OrdinaryDividend |
| Jun 27, 2024 | $0.309 | OrdinaryDividend |
| Mar 21, 2024 | $0.128 | OrdinaryDividend |
| Dec 22, 2023 | $0.298 | OrdinaryDividend |
| Sep 22, 2023 | $0.206 | OrdinaryDividend |
| Jun 27, 2023 | $0.205 | OrdinaryDividend |
| Mar 24, 2023 | $0.129 | OrdinaryDividend |
| Dec 23, 2022 | $0.330 | OrdinaryDividend |
| Sep 23, 2022 | $0.066 | OrdinaryDividend |
| Dec 23, 2021 | $0.003 | OrdinaryDividend |
| Dec 24, 2020 | $0.125 | OrdinaryDividend |
| Sep 24, 2020 | $0.021 | OrdinaryDividend |
| Mar 26, 2020 | $0.045 | OrdinaryDividend |
| Dec 13, 2019 | $0.047 | OrdinaryDividend |
| Sep 25, 2019 | $0.126 | OrdinaryDividend |
| Jun 14, 2019 | $0.108 | OrdinaryDividend |
| Mar 21, 2019 | $0.073 | OrdinaryDividend |
| Dec 18, 2018 | $0.116 | OrdinaryDividend |
| Sep 14, 2018 | $0.065 | OrdinaryDividend |
| Jun 21, 2018 | $0.084 | OrdinaryDividend |
| Mar 22, 2018 | $0.057 | OrdinaryDividend |
| Dec 21, 2017 | $0.035 | OrdinaryDividend |
| Sep 21, 2017 | $0.048 | OrdinaryDividend |
| Jun 22, 2017 | $0.058 | OrdinaryDividend |
| Mar 23, 2017 | $0.029 | OrdinaryDividend |
| Dec 21, 2016 | $0.154 | OrdinaryDividend |
| Sep 21, 2016 | $0.067 | OrdinaryDividend |
| Jun 22, 2016 | $0.068 | OrdinaryDividend |
| Mar 23, 2016 | $0.071 | OrdinaryDividend |
| Dec 23, 2015 | $0.061 | OrdinaryDividend |
| Sep 23, 2015 | $0.019 | OrdinaryDividend |
| Jun 24, 2015 | $0.045 | OrdinaryDividend |
| Mar 25, 2015 | $0.034 | OrdinaryDividend |
| Dec 23, 2014 | $0.125 | OrdinaryDividend |
| Dec 23, 2014 | $0.020 | CapitalGainShortTerm |
| Sep 23, 2014 | $0.016 | OrdinaryDividend |
FTLS - Fund Manager Analysis
Managers
John Gambla
Start Date
Tenure
Tenure Rank
Sep 08, 2014
7.73
7.7%
John W. Gambla, CFA, FRM, PRM, is a senior portfolio manager for the Alternatives Investment Team at First Trust Advisors L.P. Prior to joining First Trust in July 2011, he was co-Chief Investment Officer at the Nuveen HydePark Group LLC where he started in 2007. While at Nuveen HydePark Group LLC, he co-directed investment activities including research, product development, trading, portfolio management and performance attribution. John also led the research systems and infrastructure development for Nuveen HydePark Group LLC. Previously, he was a Senior Trader and Quantitative specialist at Nuveen Asset Management. While there, he was responsible for trading all derivatives for the 120+ municipal mutual funds with Nuveen Asset Management. John W. Gambla, has served in a variety of roles throughout his career including: portfolio management, research, business development and strategy development. He was born in 1966 and earned a B.S. in Genetics and Developmental Biology and a B.A. in Finance from the University of Illinois at Urbana/Champaign and an MBA from the University Of Chicago Booth School Of Business.
Rob Guttschow
Start Date
Tenure
Tenure Rank
Sep 08, 2014
7.73
7.7%
Rob A. Guttschow, CFA, is a senior portfolio manager for the Alternatives Investment Team at First Trust Advisors L.P. Prior to joining First Trust in July 2011, Mr. Guttschow was co-Chief Investment Officer at the Nuveen HydePark Group LLC where he started in 2007. While at Nuveen HydePark Group LLC, Mr. Guttschow co-directed investment activities including research, product development, trading, portfolio management and performance attribution. Previously, Mr. Guttschow was an Overlay Manager and Senior Portfolio Manager at Nuveen Asset Management. While there, he developed Nuveen’s buy-side derivative desk for fixed income and equity portfolio hedging. He was born in 1968 and earned a B.S. in Materials/Ceramic Engineering and a MBA from the University of Illinois in Urbana/Champaign.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 23.55 | 5.96 | 7.93 |
