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Trending ETFs

First Trust Senior Loan Fund

Active ETF
FTSL
Payout Change
Pending
Price as of:
$46.25 +0.03 +0.06%
primary theme
Bank Loan
FTSL (ETF)

First Trust Senior Loan Fund

Payout Change
Pending
Price as of:
$46.25 +0.03 +0.06%
primary theme
Bank Loan
FTSL (ETF)

First Trust Senior Loan Fund

Payout Change
Pending
Price as of:
$46.25 +0.03 +0.06%
primary theme
Bank Loan

Name

As of 11/22/2024

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 Senior Loan Fund

FTSL | Active ETF

$46.25

$2.27 B

7.26%

$3.36

0.87%

Vitals

YTD Return

7.7%

1 yr return

9.5%

3 Yr Avg Return

5.6%

5 Yr Avg Return

5.0%

Net Assets

$2.27 B

Holdings in Top 10

21.9%

52 WEEK LOW AND HIGH

$46.2
$45.51
$46.47

Expenses

OPERATING FEES

Expense Ratio 0.87%

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 11/22/2024

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 Senior Loan Fund

FTSL | Active ETF

$46.25

$2.27 B

7.26%

$3.36

0.87%

FTSL - Profile

Distributions

  • YTD Total Return 7.7%
  • 3 Yr Annualized Total Return 5.6%
  • 5 Yr Annualized Total Return 5.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.27%
DIVIDENDS
  • Dividend Yield 7.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust Senior Loan Fund
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    May 01, 2013
  • Shares Outstanding
    83100002
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    William Housey

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets (including investment borrowings) in first lien senior floating rate bank loans (“Senior Loans”).A Senior Loan is an advance or commitment of funds made by one or more banks or similar financial institutions to one or more corporations, partnerships or other business entities and typically pays interest at a floating or adjusting rate that is determined periodically at a designated premium above a base lending rate, such as the London Interbank Offered Rate (“LIBOR”), the Secured Overnight Financing Rate ("SOFR"), a similar reference rate, or the prime rate offered by one or more major U.S. banks. A Senior Loan is considered senior to all other unsecured claims against the borrower, senior to or equal with all other secured claims, meaning that in the event of a bankruptcy of the borrower the Senior Loan, together with other first lien claims, is entitled to be the first to be repaid out of proceeds of the assets securing the loans, before other existing unsecured claims or interests receive repayment. However, in bankruptcy proceedings, there may be other claims, such as taxes or additional advances that take precedence.The Fund may invest significantly in “covenant-lite” loans, which are loans issued with fewer restrictions on collateral, payment terms and level of income. Traditional loans generally have protective covenants built into the contract to protect the lender, including financial maintenance tests that measure the debt-service capabilities of the borrower; however, covenant-lite loans lack many of these lender protection provisions. Covenant-lite loans carry more risk than traditional loans and allow borrowers to engage in activities that would be difficult or impossible under a traditional loan agreement. The lack of traditional lender protection provisions contained in covenant-lite loans may impact recovery values and/or trading levels in the future.The Fund invests in Senior Loans made predominantly to businesses operating in North America, but may also invest in Senior Loans made to businesses operating outside of North America. The Fund may invest in Senior Loans directly, either from the borrower as part of a primary issuance or in the secondary market through assignments of portions of Senior Loans from third parties, or participations in Senior Loans, which are contractual relationships with an existing lender in a loan facility whereby the Fund purchases the right to receive principal and interest payments on a loan but the existing lender remains the record holder of the loan. The Senior Loans included in the Fund’s portfolio often maintain a duration of less than 90 days; however, the inclusion of LIBOR or SOFR floors on certain Senior Loans or other factors may cause interest rate duration to be longer than 90 days.When identifying prospective investment opportunities in Senior Loans, First Trust Advisors L.P., the Fund’s investment advisor, currently intends to invest primarily in Senior Loans that are below investment grade quality at the time of investment, and relies on fundamental credit analysis in an effort to attempt to minimize the loss of the Fund’s capital and to select assets that provide attractive relative value. Securities rated below investment grade, commonly referred to as “junk” or “high yield”securities, include securities that are rated Ba1/BB+/BB+ or below by Moody’s Investors Service, Inc. (“Moody’s”), Fitch Inc., or S&P Global Ratings (“S&P”), respectively. The Fund may invest in securities of any rating. The Fund may also invest in unrated securities deemed by the investment advisor to be of comparable quality to those securities rated below investment grade.The Fund may also invest up to 20% of its net assets in (1) non-Senior Loan debt securities which may be fixed-rate or floating-rate income-producing securities (including, without limitation, U.S. government debt securities and corporate debt securities), (2) warrants, U.S. and non-U.S. equity and equity-like positions and interests and other securities issued by or with respect to a borrower or its affiliates, and/or (3) securities of other investment companies. In addition, the Fund may invest up to 15% of its net assets in Senior Loans and/or other floating rate loans that are distressed or in default. The Fund may also invest in companies with various market capitalizations.The Fund’s investment advisor combines a fundamental credit selection process with relative value analysis and top-down macroeconomic perspectives when selecting investment opportunities. The Fund’s investment advisor believes that an evolving investment environment offers varying degrees of investment risk opportunities in the bank loan, high yield and other fixed income instrument markets. To capitalize on attractive investments and effectively manage potential risk, the Fund’s investment advisor believes that the combination of thorough and continuous credit analysis, market evaluation, diversification and the ability to reallocate investments is critical to achieving higher risk-adjusted returns.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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FTSL - Performance

Return Ranking - Trailing

Period FTSL Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -3.9% 10.2% 51.88%
1 Yr 9.5% -3.4% 14.4% 50.19%
3 Yr 5.6%* -6.8% 8.4% 41.47%
5 Yr 5.0%* -6.2% 38.4% 36.36%
10 Yr 4.1%* -2.2% 19.7% 26.23%

* Annualized

Return Ranking - Calendar

Period FTSL Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -12.0% 11.1% 39.85%
2022 -6.9% -22.9% 5.1% 40.15%
2021 0.7% -12.2% 11.1% 71.15%
2020 -0.7% -14.1% 289.8% 7.82%
2019 5.3% -8.1% 7.5% 1.69%

Total Return Ranking - Trailing

Period FTSL Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -3.9% 10.2% 51.88%
1 Yr 9.5% -3.4% 14.4% 50.19%
3 Yr 5.6%* -6.8% 8.4% 41.47%
5 Yr 5.0%* -6.2% 38.4% 36.36%
10 Yr 4.1%* -2.2% 19.7% 26.23%

* Annualized

Total Return Ranking - Calendar

Period FTSL Return Category Return Low Category Return High Rank in Category (%)
2023 11.6% -12.0% 22.1% 72.93%
2022 -2.5% -22.9% 5.1% 55.98%
2021 3.9% -10.2% 11.1% 73.12%
2020 3.0% -14.1% 306.9% 18.93%
2019 10.1% -3.6% 10.5% 1.27%

FTSL - Holdings

Concentration Analysis

FTSL Category Low Category High FTSL % Rank
Net Assets 2.27 B 29.9 M 13.5 B 21.92%
Number of Holdings 233 2 1977 80.62%
Net Assets in Top 10 503 M -191 M 2.37 B 18.99%
Weighting of Top 10 21.92% 5.2% 100.7% 20.62%

Top 10 Holdings

  1. MSILF Treasury Portfolio 8.00%
  2. IRB HOLDING COR 12/15/27 1.69%
  3. ATHENAHEALTH IN 01/27/29 1.60%
  4. MEDLINE BORROWE 10/21/28 1.60%
  5. ASSUREDPARTNERS 02/14/31 1.52%
  6. CAMELOT US ACQU 01/31/31 1.52%
  7. GRAHAM PACKAGIN 08/04/27 1.50%
  8. 1011778 BC ULC 09/23/30 1.50%
  9. ALLIANT HOLDING 11/06/30 1.49%
  10. HUB INTERNATION 06/20/30 1.49%

Asset Allocation

Weighting Return Low Return High FTSL % Rank
Bonds
95.22% 0.00% 161.82% 51.16%
Cash
8.00% -61.90% 16.36% 15.12%
Convertible Bonds
0.11% 0.00% 5.51% 29.69%
Stocks
0.00% 0.00% 100.74% 91.09%
Preferred Stocks
0.00% -3.99% 7.30% 58.14%
Other
0.00% -52.39% 34.87% 65.12%

Stock Sector Breakdown

Weighting Return Low Return High FTSL % Rank
Utilities
0.00% 0.00% 100.00% N/A
Technology
0.00% 0.00% 100.00% N/A
Real Estate
0.00% 0.00% 48.61% N/A
Industrials
0.00% 0.00% 100.00% N/A
Healthcare
0.00% 0.00% 100.00% N/A
Financial Services
0.00% 0.00% 89.61% N/A
Energy
0.00% 0.00% 100.00% N/A
Communication Services
0.00% 0.00% 100.00% N/A
Consumer Defense
0.00% 0.00% 100.00% N/A
Consumer Cyclical
0.00% 0.00% 97.66% N/A
Basic Materials
0.00% 0.00% 1.36% N/A

Stock Geographic Breakdown

Weighting Return Low Return High FTSL % Rank
US
0.00% -0.01% 100.74% 89.15%
Non US
0.00% 0.00% 0.68% 51.16%

Bond Sector Breakdown

Weighting Return Low Return High FTSL % Rank
Corporate
93.02% 0.00% 99.80% 28.91%
Cash & Equivalents
8.00% 0.00% 25.03% 13.57%
Derivative
0.00% -10.96% 0.59% 60.47%
Securitized
0.00% 0.00% 91.68% 64.84%
Municipal
0.00% 0.00% 0.47% 41.80%
Government
0.00% 0.00% 3.18% 50.39%

Bond Geographic Breakdown

Weighting Return Low Return High FTSL % Rank
US
95.22% 0.00% 124.50% 36.43%
Non US
0.00% 0.00% 63.23% 63.57%

FTSL - Expenses

Operational Fees

FTSL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.87% 0.03% 5.51% 67.92%
Management Fee 0.85% 0.00% 1.89% 86.04%
12b-1 Fee 0.00% 0.00% 1.00% 6.72%
Administrative Fee N/A 0.02% 0.27% N/A

Sales Fees

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

Trading Fees

FTSL 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.

FTSL Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 4.00% 180.00% 64.73%

FTSL - Distributions

Dividend Yield Analysis

FTSL Category Low Category High FTSL % Rank
Dividend Yield 7.26% 0.00% 11.13% 78.20%

Dividend Distribution Analysis

FTSL Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FTSL Category Low Category High FTSL % Rank
Net Income Ratio 3.27% 1.77% 9.82% 69.29%

Capital Gain Distribution Analysis

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

Distributions History

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FTSL - Fund Manager Analysis

Managers

William Housey


Start Date

Tenure

Tenure Rank

May 01, 2013

9.09

9.1%

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.

Jeffrey Scott


Start Date

Tenure

Tenure Rank

Mar 02, 2020

2.25

2.3%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 21.18 6.07 3.25