HISF

HISF is a fund-of-funds that follows the High Income Model developed by the fund's advisor. The model provides exposure to a blend of fixed income assets, primarily via First Trust ETFs, that are actively managed to seek high income and capital appreciation. Assets include corporate investment-grade and junk bonds, US government securities, senior loans, securitized debts, emerging market bonds, and hybrid securities. Exposure to each asset is subject to a certain limit. HISF invests significantly in shares of the First Trust TCW Opportunistic Fixed Income ETF (ticker: FIXD), which is a broad-based and broad-maturity bond ETF. The fund's advisor selects ETFs providing similar exposure based on a disciplined process that considers growth forecasts, market valuation, global market views, policy drivers, and a bottom-up asset level analysis. Prior to Feb. 28, 2022, HISF's moniker was First Trust Strategic Income ETF (ticker: FDIV), and was invested in various asset classes.