Symbols

UCON

First Trust Smith Unconstrained Bond ETF·ARCA

--(--)

Key Stats

Assets Under Management

3.17BUSD

Fund Flows (1Y)

-215.34MUSD

Dividend Yield

4.62%

Discount/Premium to NAV

0.24%

Shares Outstanding

126.10M

Expense Ratio

0.86%

About First Trust Smith Unconstrained Bond ETF

Issuer

First Trust Advisors L.P.

Brand

First Trust

Home Page

https://www.ftportfolios.com/Retail/Etf/EtfSummary.aspx?Ticker=UCON

Inception Date

Jun 4, 2018

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

UCON seeks long-term total return with its broad discretion to invest in almost any kind of fixed income securities. The fund does not necessarily target any particular part of the bond market, but takes a flexible approach based on the manager's top-down, long-term economic outlook. However, the manager may also employ independent, bottom-up research to identify undervalued securities. While UCON does have some exposure limits, they are fairly lax: up to 70% in high-yield debt, 60% in emerging-market debt, 50% in non-USD-denominated debt, and 50% each in residential MBS, commercial MBS, and ABS. MBS not backed by a government or government-sponsored agency is limited to 20% of the portfolio. Individual holdings may be of any maturity, but UCON's portfolio duration will normally not exceed 10 years. The fund may also hold derivatives for hedging or duration management but not to exceed 20% of the portfolio.