MCEF

First Trust Municipal CEF Income Opportunity ETF
F

N/A
*Unless otherwise stated, data provided by FactSet.

MCEF Fund Description

MCEF is an actively-managed fund-of-funds that invests in municipal bond closed-end funds (CEFs) of various sectors, credit qualities, and leverage levels.

MCEF Factset Analytics Insight

MCEF charges a high fee for its fund-of-CEFs structure, even in comparison with other fund-of-funds ETFs. The fund has a wide investment mandate: Select from the municipal bond CEF universe regardless of strategy, sector, credit quality, and leverage exposure to generate current income. The fund manager uses a proprietary model to sort, evaluate, and select individual CEFs based on a range of fundamental and technical factors. The factors include but are not limited to fund size, duration, premium or discount, leverage, net asset value, and share price returns. CEFs can provide attractive current income due to their ability to employ structural leverage up to 33%. Since many CEFs are actively-managed funds, MCEF’s management team is essentially picking other managers for their ability to pick winners. Underlying CEFs in MCEF might trade at a material premium or discount but MCEF’s price should stay in-line with its NAV as long as there is enough underlying liquidity to support continuous creation/redemption.

MCEF CHARTS AND PERFORMANCE

Price Chart ($)
Total Return Chart (%)
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 12/13/18] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
MCEF 1.08% -2.02% -4.50% -4.82% -- -- --
MCEF (NAV) 0.72% -2.11% -4.20% -4.63% -- -- --
No Underlying Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

MCEF Top 10 Holdings [View All]

MCEF Summary Data

First Trust
09/27/16
Open-Ended Fund
2.11%
$8.68M
$171.93K
0.44%

MCEF Portfolio Data

--
--
--
12/11/18
--

MCEF Index Data

No Underlying Index
Proprietary
Proprietary
N/A

MCEF Portfolio Management

2.11%
--
--
--

MCEF Tax Exposures

20.00% / 39.60%
--
Ordinary income
No

MCEF Fund Structure

Open-Ended Fund
No
No
100% / 0%
N/A
N/A
High
Daily
Bats Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

MCEF Factset Analytics Block Liquidity

As of 12/14/18
5
4
3
2
1

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

MCEF Tradability

8,650
$171.93K
568
$12.16K
0.44%
$0.08
0.07%
0.75% / -0.98%
None
100.00%
50,000
0.01
0.06%
--
--
$17.29
N/A

MCEF Top 10 Holdings[View All]

4.82%
4.09%
4.02%
3.91%
3.59%
3.47%
3.32%
3.22%
39.39%

MCEF Performance Statistics

--
--
--
--
--

MCEF HOLDINGS STATISTICS


MCEF
Segment Benchmark
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
N/A
N/A

MCEF MATURITY DISTRIBUTION


MCEF
Segment Benchmark
--
--
--
--
--
--
--
--
--
--
--
--

MCEF CREDIT BREAKDOWN


MCEF
Segment Benchmark
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--