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Name

As of 04/16/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

First Trust Managed Futures Strategy Fund

FMF | Active ETF

$49.70

$139 M

3.34%

$1.66

0.95%

Vitals

YTD Return

8.5%

1 yr return

8.3%

3 Yr Avg Return

4.0%

5 Yr Avg Return

3.8%

Net Assets

$139 M

Holdings in Top 10

93.3%

52 WEEK LOW AND HIGH

$49.9
$46.11
$50.57

Expenses

OPERATING FEES

Expense Ratio 0.95%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Exchange Traded Fund

Name

As of 04/16/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

First Trust Managed Futures Strategy Fund

FMF | Active ETF

$49.70

$139 M

3.34%

$1.66

0.95%

FMF - Profile

Distributions

  • YTD Total Return 8.5%
  • 3 Yr Annualized Total Return 4.0%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.96%
DIVIDENDS
  • Dividend Yield 3.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    First Trust Managed Futures Strategy Fund
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    Aug 01, 2013
  • Shares Outstanding
    2452000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Gambla

Fund Description

The Fund is an actively managed exchange-traded fund that seeks to achieve positive returns that are not directly correlated to broad market equity or fixed income returns. Under normal market conditions, the Fund and a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”), invest significantly in a portfolio of exchange-listed futures (collectively, “Futures Instruments,” also referred to herein as “futures contracts”).The Fund expects to gain exposure to these investments directly and by investing in the Subsidiary. The Subsidiary is advised by First Trust Advisors L.P., the Fund’s investment advisor. The Fund’s investment in the Subsidiary is intended to provide the Fund with exposure to commodity markets within the limits of current federal income tax laws applicable to investment companies such as the Fund, which limit the ability of investment companies to invest directly in commodity Futures Instruments. The Subsidiary has the same investment objective as the Fund, but unlike the Fund, it may invest without limitation in commodity Futures Instruments. Except as otherwise noted, for purposes of this prospectus, references to the Fund’s investments include the Fund’s indirect investments through the Subsidiary. The Fund will invest up to 25% of its total assets in the Subsidiary. The Fund and the Subsidiary’s investments provide the Fund with exposure to U.S. and non-U.S. markets (including emerging markets).The Fund and the Subsidiary may hold futures contracts on a wide range of assets, including, but not limited to, equity indexes, other financial indexes, currencies and global debt, including U.S. Treasuries. In addition, the Subsidiary may hold futures contracts on commodities.The Fund and the Subsidiary attempt to capture the economic benefit derived from rising and declining prices across global futures markets by buying or selling futures contracts which are expected to rise or fall in price. The Fund uses a variety of qualitative and quantitative approaches to help it determine which markets are likely to rise in price and which markets are likely to fall in price. See “Additional Information on the Fund's Investment Objective and Strategies” for more information. Positioning may change frequently (up to daily) and as a result, the Fund may frequently trade futures contracts. To be “long” means to hold or be exposed to a security or instrument with the expectation that its value will increase over time. To be “short” means to sell or be exposed to a security or instrument with the expectation that it will fall in value. The Fund will benefit if it has a long position in a security or instrument that increases in value or a short position in a security or instrument that decreases in value. Conversely, the Fund will be adversely impacted if it holds a long position in a security or instrument that decreases in value and a short position that increases in value. Under certain market conditions, the Fund may reduce the notional exposure to commodities it derives from its derivatives positions to mitigate against risk.The Fund is permitted to have an aggregate notional exposure to the futures markets that is greater than the Fund’s total assets. The notional exposure or notional value of a futures contract is the market value of the asset which the futures contract has price exposure to. Aggregate notional value is the sum of the absolute value of the Fund’s notional exposure to futures contracts. Such investments may result in significant portfolio leverage, which could result in the Fund losing more than it originally invested (see “Leverage Risk” for a discussion of the risks of increased portfolio leverage). The remainder of the Fund’s assets will be generally invested in (1)U.S. government and agency securities with maturities of twoyears or less, (2)short-term repurchase agreements; (3)money market instruments and (4)cash. The Fund may also seek short exposure to the energy sector. The Fund uses fixed income securities as investments and to collateralize its futures exposure on a day-to-day basis. The Fund may also invest directly in exchange-traded funds (“ETFs”), closed-end funds and other investment companies that provide exposure to commodities, Canadian ETFs, equity securities and fixed income securities to the extent permitted under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund’s strategy involves frequently buying and selling Futures Instruments which may result in increased trading expenses.
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FMF - Performance

Return Ranking - Trailing

Period FMF Return Category Return Low Category Return High Rank in Category (%)
YTD 8.5% -7.4% 14.6% 38.30%
1 Yr 8.3% -16.1% 36.5% 36.56%
3 Yr 4.0%* -7.9% 13.3% 64.04%
5 Yr 3.8%* -5.3% 10.0% 62.65%
10 Yr 0.8%* -2.4% 4.3% N/A

* Annualized

Return Ranking - Calendar

Period FMF Return Category Return Low Category Return High Rank in Category (%)
2023 -3.1% -16.4% 12.9% 21.51%
2022 4.8% -9.3% 17.5% 84.78%
2021 0.3% -25.8% 2.2% 33.72%
2020 5.7% -5.1% 21.0% 67.11%
2019 -6.2% -20.3% 4.6% 47.89%

Total Return Ranking - Trailing

Period FMF Return Category Return Low Category Return High Rank in Category (%)
YTD 8.5% -7.4% 14.6% 43.62%
1 Yr 8.3% -20.3% 36.5% 30.11%
3 Yr 4.0%* -9.0% 11.1% 60.67%
5 Yr 3.8%* -5.7% 8.7% 59.04%
10 Yr 0.8%* -2.4% 4.3% N/A

* Annualized

Total Return Ranking - Calendar

Period FMF Return Category Return Low Category Return High Rank in Category (%)
2023 -0.2% -16.4% 12.9% 21.51%
2022 5.2% -9.3% 17.5% 84.78%
2021 3.6% -20.3% 2.5% 33.72%
2020 5.7% -5.1% 21.0% 75.00%
2019 -5.2% -20.3% 6.7% 57.75%

FMF - Holdings

Concentration Analysis

FMF Category Low Category High FMF % Rank
Net Assets 139 M 2.12 M 1.74 B 68.09%
Number of Holdings 71 3 876 100.00%
Net Assets in Top 10 131 M -100 M 2.04 B 76.60%
Weighting of Top 10 93.28% 20.3% 94.0% 100.00%

Top 10 Holdings

  1. Dreyfus Government Cash Management 17.07%
  2. MSILF Treasury Portfolio 16.51%
  3. United States Treasury Note/Bond 7.93%
  4. United States Treasury Note/Bond 7.64%
  5. United States Treasury Note/Bond 7.56%
  6. United States Treasury Note/Bond 7.53%
  7. United States Treasury Note/Bond 7.43%
  8. United States Treasury Note/Bond 7.34%
  9. United States Treasury Note/Bond 7.25%
  10. United States Treasury Bill 7.03%

Asset Allocation

Weighting Return Low Return High FMF % Rank
Bonds 		59.71% -50.36% 717.59% 79.79%
Cash 		40.79% -687.11% 117.03% 23.40%
Stocks 		0.00% -1.78% 72.26% 77.66%
Preferred Stocks 		0.00% 0.00% 0.13% 15.96%
Convertible Bonds 		0.00% 0.00% 2.27% 32.98%
Other 		-0.50% 0.00% 58.63% 54.26%

Bond Sector Breakdown

Weighting Return Low Return High FMF % Rank
Cash & Equivalents 		33.58% 1.07% 100.00% 1.06%
Securitized 		0.00% 0.00% 64.73% 32.98%
Corporate 		0.00% 0.00% 31.20% 38.30%
Municipal 		0.00% 0.00% 6.83% 22.34%
Government 		0.00% 0.00% 82.10% 92.55%
Derivative 		-0.50% 0.00% 63.99% 79.79%

Bond Geographic Breakdown

Weighting Return Low Return High FMF % Rank
US 		59.71% -169.44% 233.08% 70.21%
Non US 		0.00% -77.11% 655.95% 54.26%

FMF - Expenses

Operational Fees

FMF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.95% 0.75% 12.88% 95.70%
Management Fee 0.95% 0.65% 2.99% 9.57%
12b-1 Fee 0.00% 0.00% 1.00% 3.28%
Administrative Fee N/A 0.09% 0.45% N/A

Sales Fees

FMF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

FMF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FMF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 198.00% 1.43%

FMF - Distributions

Dividend Yield Analysis

FMF Category Low Category High FMF % Rank
Dividend Yield 3.34% 0.00% 0.00% 7.45%

Dividend Distribution Analysis

FMF Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annually

Net Income Ratio Analysis

FMF Category Low Category High FMF % Rank
Net Income Ratio -0.96% -3.14% 1.55% 72.04%

Capital Gain Distribution Analysis

FMF Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

FMF - Fund Manager Analysis

Managers

John Gambla

Start Date

Tenure

Tenure Rank

Aug 01, 2013

8.84

8.8%

John W. Gambla, CFA, FRM, PRM, is a senior portfolio manager for the Alternatives Investment Team at First Trust Advisors L.P. Prior to joining First Trust in July 2011, he was co-Chief Investment Officer at the Nuveen HydePark Group LLC where he started in 2007. While at Nuveen HydePark Group LLC, he co-directed investment activities including research, product development, trading, portfolio management and performance attribution. John also led the research systems and infrastructure development for Nuveen HydePark Group LLC. Previously, he was a Senior Trader and Quantitative specialist at Nuveen Asset Management. While there, he was responsible for trading all derivatives for the 120+ municipal mutual funds with Nuveen Asset Management. John W. Gambla, has served in a variety of roles throughout his career including: portfolio management, research, business development and strategy development. He was born in 1966 and earned a B.S. in Genetics and Developmental Biology and a B.A. in Finance from the University of Illinois at Urbana/Champaign and an MBA from the University Of Chicago Booth School Of Business.

Rob Guttschow

Start Date

Tenure

Tenure Rank

Aug 01, 2013

8.84

8.8%

Rob A. Guttschow, CFA, is a senior portfolio manager for the Alternatives Investment Team at First Trust Advisors L.P. Prior to joining First Trust in July 2011, Mr. Guttschow was co-Chief Investment Officer at the Nuveen HydePark Group LLC where he started in 2007. While at Nuveen HydePark Group LLC, Mr. Guttschow co-directed investment activities including research, product development, trading, portfolio management and performance attribution. Previously, Mr. Guttschow was an Overlay Manager and Senior Portfolio Manager at Nuveen Asset Management. While there, he developed Nuveen’s buy-side derivative desk for fixed income and equity portfolio hedging. He was born in 1968 and earned a B.S. in Materials/Ceramic Engineering and a MBA from the University of Illinois in Urbana/Champaign.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 14.09 5.41 5.06

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