Key stats
About First Trust Exchange-Traded Fund IV First Trust Commercial Mortgage Opportunities ETF
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Inception date
Feb 28, 2024
Structure
Open-Ended Fund
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
Ordinary income
Primary advisor
First Trust Advisors LP
Distributor
First Trust Portfolios LP
CAAA aims for long-term total return through an actively managed portfolio of AAA-rated commercial mortgage-backed securities. The fund primarily invests in non-agency CMBS, including restricted and interest or principal-only CMBS. The adviser constructs the portfolio using a relative value approach, which utilizes quantitative and qualitative methods to assess each security's risk-versus-reward characteristics against other eligible securities. The fund has no geographical, duration, or maturity restrictions. However, it seeks a weighted average portfolio duration of +/- two years of Bloomberg Non-Agency Investment Grade CMBS: US Aggregate Eligible Aaa Index's weighted average duration. The fund will not invest in CMBS with a credit rating below A-. Lastly, the fund may use derivatives such as futures, forwards, options, and swaps to manage risk, reduce transaction costs, obtain exposure to the CMBS market, manage cash flows, and/or preserve capital.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Securitized
Bonds, Cash & Other100.00%
Securitized97.90%
Mutual fund1.54%
Cash0.56%
Top 10 holdings
Dividends
Dividend payout history