LMBS
First Trust Low Duration Opportunities ETFLMBS Fund Description
LMBS is an actively managed fund that invests in a variety of mortgage-backed securities with target duration of less than 3 years. The fund may also take positions in US Treasury futures or options.
LMBS Factset Analytics Insight
LMBS is a one-of-a-kind actively managed MBS ETF. Not only does it have a duration target, it also 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. LMBS is readily tradable, with decent daily volume and small spreads. While it has a liquid underlying basket, institutions should work with market makers on block trades, as some underlying non-agency-backed MBS and CMBS can be hard to access. LMBS charges a fee that is a bit steep even for an actively managed bond fund, and the fund's short-duration mandate can lead to high portfolio turnover, with further implications for holding costs.
LMBS CHARTS AND PERFORMANCE
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1 Month
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3 Months
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YTD
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1 Year
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3 Years
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5 Years
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Max
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1 Month
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3 Months
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YTD
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1 Year
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3 Years
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5 Years
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Max
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LMBS Top 10 Holdings [View All]
LMBS Portfolio Data
LMBS Portfolio Management
LMBS Tax Exposures
LMBS Fund Structure
LMBS Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of LMBS. LMBS is rated a 5 out of 5.
LMBS Tradability
LMBS Top 10 Holdings[View All]
LMBS Performance Statistics
LMBS HOLDINGS STATISTICS
LMBS
LMBS MATURITY DISTRIBUTION
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LMBS CREDIT BREAKDOWN
LMBS
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