Symbols

FCAL

First Trust California Municipal High Income ETF·NASDAQ

--(--)

Key Stats

Assets Under Management

204.76MUSD

Fund Flows (1Y)

-66.45MUSD

Dividend Yield

3.21%

Discount/Premium to NAV

-0.02%

Shares Outstanding

4.15M

Expense Ratio

0.65%

About First Trust California Municipal High Income ETF

Issuer

First Trust Advisors L.P.

Brand

First Trust

Home Page

http://www.ftportfolios.com/retail/etf/etfsummary.aspx?Ticker=FCAL

Inception Date

Jun 20, 2017

Structure

Open-Ended Fund

Index Tracked

Management Style

Active

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

First Trust Advisors LP

Distributor

First Trust Portfolios LP

FCAL utilizes an active approach to a niche pocket of the municipal bond space. The fund targets municipal securities with interest income that is exempted from federal and California state income tax. The fund generally will hold muni bonds issued by the state of California and its political subdivisions. FCAL has a long leash, it can hold investment-grade, high-yield, and distressed securities. The fund will keep its weighted average maturity under 14 years. Overall, FCAL might appeal to investors in California who are looking for tax-exempted income and are willing to pay a premium for active management.