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Name

As of 07/25/2024

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 Multi-Manager Small Cap Opportunities ETF

MMSC | Active ETF

$19.39

$12.7 M

0.00%

0.95%

Vitals

YTD Return

13.8%

1 yr return

18.4%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$12.7 M

Holdings in Top 10

17.7%

52 WEEK LOW AND HIGH

$19.4
$14.20
$20.48

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 07/25/2024

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 Multi-Manager Small Cap Opportunities ETF

MMSC | Active ETF

$19.39

$12.7 M

0.00%

0.95%

MMSC - Profile

Distributions

  • YTD Total Return 13.8%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency N/A

Fund Details

  • Legal Name
    First Trust Multi-Manager Small Cap Opportunities ETF
  • Fund Family Name
    First Trust Advisors L.P
  • Inception Date
    Oct 13, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Stan Ueland

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowing for investment purposes) in equity securities issued by small capitalization companies. The Fund considers small capitalization companies to be those companies with market capitalizations, at the time of investment, within the market capitalization range of the companies comprising the Russell 2000® Growth Index (as of the index’s most recent reconstitution). As of November 30, 2023, the market capitalization range of the referenced index was between $181 million and $21,976 million. The Fund’s portfolio is principally composed of common stocks issued by companies domiciled in the United States and common stocks issued by non-U.S. companies that are principally traded in the United States.The Fund utilizes a multi-manager approach to provide exposure to the small capitalization growth segment of the equity market through the blending of multiple portfolio management teams. This multi-manager approach seeks to provide investors with diversified expertise from leading asset management firms that each utilizes its own experience, philosophy and strategy for investing in the small capitalization growth segment of the equity market. The Fund’s investment advisor, First Trust Advisors L.P. (“First Trust” or the “Advisor”), is responsible for selecting and overseeing these investment sub-advisors (each, a “Sub-Advisor”). In selecting the Sub-Advisors, First Trust undertakes rigorous due diligence with the aim of identifying high quality managers with investment strategies that emphasize a long-term outlook and have a consistent track record of success. Each Sub-Advisor selected by First Trust is responsible for providing recommendations to First Trust regarding the selection and allocation of the securities in its allocated portion of the Fund’s assets. The Fund has an investment strategy that may frequently involve buying and selling portfolio securities.First Trust has selected Driehaus Capital Management LLC (“DCM”) and Stephens Investment Management Group, LLC (“SIMG”) to each serve as a Sub-Advisor to the Fund and has equally allocated the Fund’s assets between them at the Fund’s inception. The Sub-Advisor allocations will drift over time due to market conditions and security selection, and First Trust intends to evaluate the percentage of the total net assets allocated to each Sub-Advisor and periodically rebalance the Sub-Advisors back to equal-weight. Given the complementary investment styles of each Sub-Advisor, the rebalance is designed to maintain meaningful investment exposure to each Sub-Advisor’s investment strategy over time to achieve the stated investment objective. First Trust may also recommend to the Board of Trustees of the Trust (the “Board”) additional Sub-Advisors, replacement Sub-Advisors or changes in the allocation of the Fund’s assets among the Sub-Advisors.The starting universe of securities for each Sub-Advisor generally will consist of the constituent securities of the Russell 2000® Growth Index at the time of investment. DCM recommends securities to First Trust with respect to its allocated portion of the Fund’s assets pursuant to DCM’s investment philosophy that fundamentally strong companies are more likely to generate superior earnings growth on a sustained basis and are more likely to experience positive earnings revisions. These decisions involve evaluating a company’s competitive position, evaluating industry dynamics, identifying potential growth catalysts and assessing the financial position of the company. DCM also takes environmental, social and governance (“ESG”) factors into account when evaluating each investment opportunity by reviewing ESG research and ratings information from one or more third-party ratings organizations. The specific areas of focus are: environmental (such as factors associated with climate change, natural resources and pollution and waste), social (such as factors associated with human capital, product liability and stakeholder opposition) and governance (such as factors associated with corporate governance and corporate behavior) factors. Given that the materiality of certain factors may vary based on sector and industry, DCM does not focus on any particular factor or set of factors in its analysis. DCM uses quantitative factors, such as third-party ESG scores, and qualitative factors, such as an assessment of the management team and company operations, in order to seek to identify, understand and control ESG-related risks. DCM does not exclude investment opportunities based solely on ESG factors. The decision is also informed by the evaluation of relative valuation, macroeconomic and behavioral factors affecting the company and its stock price. DCM may recommend that the Fund sells holdings for a variety of reasons, including to take profits, changes to the fundamental characteristics primarily driving the investment’s attractiveness, changes in the risk/reward assessment of the holding, an assessment that the holding is efficiently priced, to make room for more attractive ideas or for other portfolio or risk management considerations. DCM believes that markets tend to misprice stocks following positive growth inflection points and that these inefficiencies tend to follow predictable and exploitable patterns. In managing the Fund’s assets, DCM seeks to take advantage of these inefficiencies through the use of fundamental and macro research to capitalize on changes in the market conditions that may lead to these positive growth inflection points.SIMG recommends securities to First Trust with respect to its allocated portion of the Fund’s assets pursuant to its foundational belief that earnings growth drives stock performance. Crucial to SIMG's investment philosophy and process is the theoretical basis provided by behavioral finance, which is the belief that an investor's behavioral biases lead to patterns in making investment decisions that can create inefficiencies and market mispricing that can be exploited. SIMG believes that awareness and avoidance of certain of these biases can lead to superior returns. Additionally, the team seeks to exploit inefficiencies that result from other investors’ biases, particularly that most investors chronically underestimate the magnitude and duration of change. SIMG employs a disciplined, fundamentally-driven, bottom-up process of security selection, attempting to identify companies with superior growth prospects. These companies fall into one of two categories: “Earnings Catalyst” or “Core Growth.” Earnings Catalyst companies are those which typically exhibit rapid growth as a result of some fundamental business change, and have the potential to surprise investors on the magnitude of growth. Core Growth companies are generally characterized by very stable, defensible growth, and have the potential to surprise investors on the duration of growth.As of November 30, 2023, the Fund had significant investments in industrial companies, although this may change from time to time. To the extent the Fund invests a significant portion of its assets in a given jurisdiction or investment sector, the Fund may be exposed to the risks associated with that jurisdiction or investment sector.The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”).
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MMSC - Performance

Return Ranking - Trailing

Period MMSC Return Category Return Low Category Return High Rank in Category (%)
YTD 13.8% -48.5% 23.9% 95.59%
1 Yr 18.4% -76.0% 772.5% N/A
3 Yr N/A* -53.1% 50.0% N/A
5 Yr N/A* -42.4% 16.0% N/A
10 Yr N/A* -22.8% 15.0% N/A

* Annualized

Return Ranking - Calendar

Period MMSC Return Category Return Low Category Return High Rank in Category (%)
2023 18.8% -83.6% 547.9% N/A
2022 -31.0% -69.3% 196.9% N/A
2021 N/A -28.2% 63.9% N/A
2020 N/A -29.8% 9.3% N/A
2019 N/A -14.5% 29.5% N/A

Total Return Ranking - Trailing

Period MMSC Return Category Return Low Category Return High Rank in Category (%)
YTD 13.8% -48.5% 23.9% 98.20%
1 Yr 18.4% -76.0% 772.5% N/A
3 Yr N/A* -53.1% 50.0% N/A
5 Yr N/A* -42.4% 16.0% N/A
10 Yr N/A* -19.7% 15.0% N/A

* Annualized

Total Return Ranking - Calendar

Period MMSC Return Category Return Low Category Return High Rank in Category (%)
2023 18.8% -83.6% 547.9% N/A
2022 -31.0% -69.3% 196.9% N/A
2021 N/A -28.2% 63.9% N/A
2020 N/A -29.8% 9.3% N/A
2019 N/A -14.5% 40.9% N/A

MMSC - Holdings

Concentration Analysis

MMSC Category Low Category High MMSC % Rank
Net Assets 12.7 M 183 K 28 B 99.51%
Number of Holdings 187 6 1336 14.45%
Net Assets in Top 10 1.52 M 59 K 2.7 B 99.84%
Weighting of Top 10 17.74% 4.7% 100.0% 90.08%

Top 10 Holdings

  1. MSILF Treasury Portfolio 2.47%
  2. Super Micro Computer Inc 2.08%
  3. Onto Innovation Inc 1.96%
  4. BellRing Brands Inc 1.93%
  5. CyberArk Software Ltd 1.90%
  6. Celsius Holdings Inc 1.82%
  7. Axon Enterprise Inc 1.78%
  8. Wingstop Inc 1.32%
  9. Monday.com Ltd 1.24%
  10. Leonardo DRS Inc 1.23%

Asset Allocation

Weighting Return Low Return High MMSC % Rank
Stocks 		97.58% 77.52% 101.30% 33.28%
Cash 		2.47% -1.30% 22.49% 59.90%
Preferred Stocks 		0.00% 0.00% 3.43% 55.52%
Other 		0.00% -1.57% 7.18% 62.50%
Convertible Bonds 		0.00% 0.00% 1.57% 54.38%
Bonds 		0.00% 0.00% 3.19% 53.57%

Stock Sector Breakdown

Weighting Return Low Return High MMSC % Rank
Utilities 		0.00% 0.00% 5.57% 65.91%
Technology 		0.00% 0.00% 75.51% 84.25%
Real Estate 		0.00% 0.00% 15.31% 64.29%
Industrials 		0.00% 0.00% 36.64% 17.37%
Healthcare 		0.00% 0.00% 47.90% 52.76%
Financial Services 		0.00% 0.00% 100.00% 55.68%
Energy 		0.00% 0.00% 55.49% 4.87%
Communication Services 		0.00% 0.00% 15.31% 61.20%
Consumer Defense 		0.00% 0.00% 13.56% 1.95%
Consumer Cyclical 		0.00% 0.00% 40.68% 88.31%
Basic Materials 		0.00% 0.00% 10.30% 18.18%

Stock Geographic Breakdown

Weighting Return Low Return High MMSC % Rank
US 		97.58% 67.06% 99.56% 66.23%
Non US 		0.00% 0.00% 26.08% 18.67%

MMSC - Expenses

Operational Fees

MMSC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.95% 0.03% 4.18% 69.00%
Management Fee 0.95% 0.05% 4.05% 84.07%
12b-1 Fee N/A 0.00% 1.00% 13.41%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

MMSC 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

MMSC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

MMSC Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 3.00% 439.00% N/A

MMSC - Distributions

Dividend Yield Analysis

MMSC Category Low Category High MMSC % Rank
Dividend Yield 0.00% 0.00% 1.88% 56.98%

Dividend Distribution Analysis

MMSC Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Annually

Net Income Ratio Analysis

MMSC Category Low Category High MMSC % Rank
Net Income Ratio N/A -4.08% 1.10% N/A

Capital Gain Distribution Analysis

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

Distributions History

View More +

MMSC - Fund Manager Analysis

Managers

Stan Ueland

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

Mr. Ueland joined First Trust Advisors as a Vice President in August 2005 and has been a Senior Vice President of First Trust and FTP since September 2012. At First Trust, he plays an important role in executing the investment strategies of each portfolio of exchange-traded funds advised by First Trust. Before joining First Trust, he was vice president of sales at BondWave LLC from May 2004 through August 2005, an account executive for Mina Capital Management LLC and Samaritan Asset Management LLC from January 2003 through May 2004, and a sales consultant at Oracle Corporation from January 1997 through January 2003.

Chris Peterson

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

Chris A. Peterson, CFA was born in 1975. Mr. Peterson earned a B.S in Finance from Bradley University and has an MBA from the University of Chicago Booth School of Business with concentrations in Analytic Finance & Accounting. He has been with First Trust Advisors L.P. since 2000. As head of FTA’s Portfolio Advisor’s Strategy Research Group, Mr. Peterson shall be responsible for developing and implementing quantitative equity strategies on behalf of the Investment Committee.

Samuel Chase

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

Sam Chase is a Portfolio Manager with Stephens Investment Management Group. Prior to joining SIMG in 2004, Sam worked for AIM Capital Management, Inc., and was responsible for research and analysis of small capitalization securities on AIM's Small Cap Growth Fund. Prior to joining AIM, Sam worked for Wachovia Capital Associates where he focused on middle market growth capital investments. Before joining Wachovia Capital, Sam was employed by Wachovia Securities as an Analyst in the firm's investment banking division. Sam earned his bachelor's degree in history at Washington and Lee University in 1999 and his M.B.A. from Southern Methodist University in 2004. Sam holds a Chartered Financial Analyst designation and his Series 7, 63, and 65. Sam's primary sector responsibilities include Consumer Discretionary and Financials.

Michael Buck

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

Michael Buck is a portfolio manager and a senior analyst on the US Growth Equities Team with a focus on the consumer discretionary, consumer staples and financials sectors. His indepth fundamental research, idea generation and buy/sell recommendations are leveraged across the Micro Cap Growth, Small Cap Growth and Small/Mid Cap Growth strategies. Mr Buck began his career at Deloitte Consulting , LLC in 2001 as a business analyst until he joined Driehaus Capital Management in 2002. He received his B.A. and B.M. in economics and cello performance from Northwestern University in 2000.

Daniel Lindquist

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

Daniel J. Lindquist, CFA, was born in 1970. Mr. Lindquist earned a B.A. in Business Economics from Wheaton College and has an MBA in Finance from the University of Chicago. He has been with First Trust Advisors L.P. since 2004 and is a Managing Director. Mr. Lindquist is the Chairman of the Investment Committee and is responsible for the overall supervision of the Separate Managed Accounts.

Jon Erickson

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

Jon C. Erickson, CFA, was born in 1966. Mr. Erickson earned a B.S. in Computer Science from the University of Illinois and has an MBA from the University of Illinois in Finance. He has been with First Trust Advisors L.P. since 1994 and he is a Portfolio Manager and Senior Vice President. As the head of FTA’s Equity Research Group, Mr. Erickson shall be responsible for determining the securities to be purchased and sold by Funds that do not utilize quantitative investment strategies on behalf of the Investment Committee.

David McGarel

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

David G. McGarel, CFA, was born in 1966. Mr. McGarel earned a B.S. in Accounting from the University of Notre Dame. He has been with First Trust Advisors L.P. since 1997 and he is a Managing Director, Chief Operating Officer and the Chief Investment Officer. As head of FTA’s Strategy Research Group, Mr. McGarel shall be responsible for developing and implementing quantitative investment strategies for those Funds that have investment policies that require them to follow such strategies, on behalf of the Investment Committee.

John Thornton

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

John Thornton is a Portfolio Manager for Stephens Investment Management Group. Prior to joining SIMG in 2004, John worked for AIM Capital Management, Inc., and was responsible for portfolio management and research and analysis on the AIM Small Cap Growth Fund. Previously, John served as an analyst on AIM's technology funds. Prior to joining AIM in 2000, John worked for El Paso Corporation as project manager in its engineering department responsible for coordinating energy infrastructure design and construction projects. John earned his bachelor's degree in engineering with honors from Vanderbilt University in 1995 and his M.B.A. from the University of Texas at Austin in 2000. He holds a Chartered Financial Analyst designation and his Series 6, 7, and 63. John's primary sector responsibilities include Energy and Information Technology.

Jeffrey James

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

Jeffrey James began his career with Lehman Brothers in 1990. From 1991 to 1997, he worked at the Federal Reserve Bank of Chicago as an analyst and joined Driehaus Capital Management in 1997 as a sector analyst. In 1998, he began managing the Driehaus Micro Cap Growth strategy. In 2006, he began managing the Driehaus Small Cap Growth strategy. In 2012, he began managing the Driehaus Small/Mid Cap Growth strategy. Mr James received his B.S. in Finance from Indiana University in 1990 and his MBA from DePaul University in 1995.

Kelly Ranucci

Start Date

Tenure

Tenure Rank

Oct 13, 2021

0.63

0.6%

Kelly Ranucci is a Portfolio Manager with Stephens Investment Management Group. Prior to joining SIMG in 2004, Kelly worked for AIM Capital Management, Inc., and was responsible for research and analysis of small and mid-capitalization securities on AIM's Small Cap Growth Fund and AIM Mid-Cap Growth Fund. Kelly joined AIM in 1994. Kelly earned a B.B.A from Texas A&M University in 1993 and an M.B.A. with a concentration in finance from the University of Houston where she graduated with honors and served as Senior Portfolio Manager for the student-managed investment portfolio in 2002. Kelly holds a Chartered Financial Analyst designation and her Series 6, 7, and 63. Kelly's primary sector responsibility is Health Care.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 8.95 5.25

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