Symbols

FCFY

First Trust S&P 500 Diversified Free Cash Flow ETF·NYSE

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Key Stats

Assets Under Management

1.37MUSD

Fund Flows (1Y)

20.40KUSD

Dividend Yield

1.49%

Discount/Premium to NAV

0.07%

Shares Outstanding

50.00K

Expense Ratio

0.60%

About First Trust S&P 500 Diversified Free Cash Flow ETF

Issuer

First Trust Advisors L.P.

Brand

First Trust

Home Page

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

Inception Date

Aug 23, 2023

Structure

Open-Ended Fund

Index Tracked

S&P 500 Sector-Neutral FCF Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Qualified dividends

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

FCFY is designed to mirror a broad US sector-neutral index comprising of firms perceived to have strong free cash flow yields in their respective GICS sectors. The fund follows a model akin to the Pacer's Cash Cows line-up in screening for companies with the highest free cash flow yields, but includes those in Financials and Real Estate. Free cash flow yield, a measure of an organization's cash flow generated from operations after expenses, guides the selection process from the S&P 500, with the top 20% within each sector chosen. Non-positive yielding companies are excluded for diversity until sector count meets a threshold. Firms are then weighted by free cash flow yield, each capped between 0.25% and 5% within their sector. The index undergoes semi-annual rebalancing and reconstitution.