LMBS

First Trust Low Duration Opportunities ETF
*Unless otherwise stated, data provided by FactSet.

LMBS 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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PERFORMANCE [as of 12/04/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
LMBS 0.25% 0.50% 4.26% 4.70% 2.48% 3.46% --
LMBS (NAV) 0.23% 0.32% 4.28% 4.57% 2.44% 3.39% --
No Underlying Index -- -- -- -- -- -- --
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All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

LMBS Summary Data

First Trust
11/04/14
Open-Ended Fund
0.68%
$3.92B
$24.87M
0.02%

LMBS Portfolio Data

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11/21/19
1516

LMBS Index Data

No Underlying Index
Proprietary
Proprietary
N/A

LMBS Portfolio Management

0.68%
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LMBS Tax Exposures

20.00% / 39.60%
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Ordinary income
No

LMBS Fund Structure

Open-Ended Fund
No
No
100% / 0%
N/A
N/A
Low
Daily
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -

LMBS Factset Analytics Block Liquidity

As of 12/05/19
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of LMBS. LMBS is rated a N/A out of 5.

LMBS Tradability

478,975
$24.87M
470,377
$24.36M
0.02%
$0.01
0.11%
0.24% / -0.11%
None
100.00%
50,000
9.41
0.02%
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0
$51.90
N/A

LMBS Top 10 Holdings[View All]

9.75%
4.62%
3.67%
2.52%
1.94%
1.68%
1.39%
1.24%
1.12%
1.10%
29.03%

LMBS Performance Statistics

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LMBS Holdings Statistics

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High
1516
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LMBS Avg Life Maturity Distribution

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LMBS OAS Breakdown

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