Key stats
About First Trust Low Duration Opportunities ETF
Expense ratio
0.64%
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Inception date
Nov 4, 2014
LMBS is an actively managed MBS ETF that has a duration target and reaches beyond agency-backed MBS to include non-agency and commercial MBS, for relative value and yield. As such, the portfolio carries material credit risk that is greater than that of pure-play agency-MBS funds. The fund's low-duration mandate increases its appeal to investors who are nervous about rising interest rates but LMBS short-duration mandate can lead to high portfolio turnover, with further implications for holding costs. Institutions should work with market makers on block trades, as some underlying non-agency-backed MBS and CMBS can be hard to access.
Classification
What's in the fund
Exposure type
Securitized
Mutual fund
Bonds, Cash & Other100.00%
Securitized97.04%
Mutual fund15.92%
Government5.28%
Corporate1.22%
Cash0.83%
ETF0.07%
Rights & Warrants−0.04%
Miscellaneous−20.32%
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