Weakness in First Trust Intermediate DurInvGrdCrpETF's Process and People Pillar ratings limits this strategy to a Morningstar Medalist Rating of Negative. The strategy charges fees in line with its similarly distributed peers, priced within the middle quintile.  

 The strategy earns a Below Average Process Pillar rating. The strategy’s management team earns a Below Average People Pillar rating. The strategy's parent organization earns the firm an Average Parent Pillar rating. People Pillar and Parent Pillar ratings for this strategy are indirectly assigned by a Morningstar analyst rather than algorithmically derived. Please see the notes following each pillar section for more details. The details of assigning methods can be found in each pillar section.

Analyst Rating

Morningstar's style-agnostic evaluation of this fund's process seeks to understand whether the strategy has a performance objective and sensible, repeatable execution. First Trust Intermediate DurInvGrdCrpETF earns a Below Average Process Pillar rating.    The process is strengthened by low costs across its parent firm's funds, whose fees rank in their respective category's second-cheapest quintile on average. The pattern of low expenses at the firm indicates that it is focused on delivering strong results for investors. However, the rating is limited by the parent firm's five-year risk-adjusted success ratio of 29%. The measure indicates the percentage of a firm's funds that survived and outperformed their respective category's median Morningstar Risk-Adjusted Return for the period. The parent's modest success ratio suggests that the firm could do better across its fund lineup. The parent firm's inferior risk-adjusted performance, as shown by its average 10-year Morningstar Rating of 2.7 stars, also holds the process back. A lower star rating suggests that the firm has struggled to outperform on a risk-adjusted basis.

 The investment strategy as stated in the fund's prospectus is as follows: 


The investment seeks to deliver current income and long-term capital appreciation.  Under normal market conditions, the fund seeks to achieve its objectives by investing at least 80% of its net assets in investment grade corporate debt securities. At least 80% of the fund’s net assets will be invested in corporate debt securities that are, at the time of purchase, investment grade (i.e., rated Baa3/BBB- or above) by at least one nationally recognized statistical rating organization (“NRSRO”) rating such securities, or if unrated, and debt securities determined by the fund’s investment advisor to be of comparable quality. The fund is non-diversified.

Below Average

Process

First Trust Intermediate DurInvGrdCrpETF earns a Below Average People Pillar rating. The team is backed by Todd W. Larson, the longest-tenured manager on the strategy, who provides 24 years of listed portfolio management experience.  The team is composed of a solid supporting cast of six additional named managers, averaging 16 years of listed portfolio management experience.  

 Note: The People Pillar rating is indirectly assigned by an analyst. The longest-tenured manager of the fund also manages a different product rated by an analyst. Their analyst-assigned People Pillar rating is combined here with the People scores (algorithmic or analyst-assigned) for the fund’s other managers on a tenure-weighted basis.

People

First Trust meets the industry standard for stewardship, but it could do more to align itself with investors. It earns an Average Parent rating.

This is a team-oriented organization that eschews star managers. While exchange-traded funds represent the bulk of the firm's assets, First Trust bypasses the competitive market for low-cost beta funds, instead opting for complex strategies with higher management fees. However, the firm's focus on ETFs for future product development underpins its commitment to tax efficiency and transparency. Some of its thematic strategies appear trendy, but it stands behind them and rarely liquidates funds. 

The firm is a private partnership, controlled by Jim Bowen, the CEO. Many senior managers are limited partners. This ownership structure helps the firm stay focused on the long term and promotes retention, which has been strong for the investment team. The firm has grown considerably over the past decade and is among the largest providers of actively managed ETFs, as well as unit investment trusts. As it has grown, the firm has expanded its investment team and beefed up its technology infrastructure.

First Trust's focus is on educating advisors and providing them solutions. This may benefit investors indirectly, but First Trust could do more to directly align with investors by cutting fees and limiting trendy strategies.

Average

Parent

First Trust Intermediate Duration Investment Grade Corporate ETF

FIIG is actively managed, investing in a broad portfolio of US investment grade, corporate debt securities. The portfolio aims for a dollar-weighted average maturity between three and ten years.

First Trust Commercial Mortgage Opportunities ETF

FT Cboe Vest DJIA Dogs 10 Target Income ETF

First Trust California Municipal High Income ETF

First Trust SSI Strategic Convertible Securities ETF

FT Vest Dow Jones Internet & Target Income ETF

First Trust Emerging Markets Local Currency Bond ETF

First Trust TCW Opportunistic Fixed Income ETF

First Trust Managed Municipal ETF

First Trust Municipal High Income ETF

First Trust New York Municipal High Income ETF

First Trust Preferred Securities & Income ETF

First Trust Institutional Preferred Securities & Income ETF

First Trust Limited Duration Investment Grade Corporate ETF

First Trust Short Duration Managed Municipal ETF

First Trust Core Investment Grade ETF

First Trust BuyWrite Income

First Trust Exchange-Traded Fund VI First Trust Nasdaq BuyWrite Income ETF

First Trust Senior Loan Fund

First Trust Ultra Short Duration Municipal ETF

First Trust Strategic Income Fund

First Trust Tactical High Yield ETF

CBOE Vest S&P 500 Dividend Aristocrats Target Income ETF

First Trust Low Duration Strategic Focus ETF

First Trust Long Duration Opportunities ETF

First Trust Low Duration Opportunities ETF

First Trust Multi-Asset Diversified Income Index Fund

First Trust Municipal CEF Income Opportunity ETF

First Trust Intermediate Government Opportunities ETF

FT Cboe Vest Rising Dividend Achievers Target Income Etf

First Trust Structured Credit Income Opportunities ETF

FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF

FT Cboe Vest Technology Dividend Target Income ETF

First Trust TCW Unconstrained Plus Bond ETF

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. ("FTA") announces the declaration of the monthly distributions for certain exchange-traded funds advised by FTA. The following dates apply to today's distribution declarations: Expected Ex-Dividend Date: April 23, 2024 Record Date: April 24, 2024 Payable Date: April 30, 2024 Ticker   Exchange   Fund Name   Frequency   Ordinary Income Per Share Amount   ACTIVELY MANAGED EXCHANGE-TRADED FUNDS   First Trust Exchange-Traded Fund III FCAL   N.

First Trust Advisors L.P. Announces Distributions for Exchange-Traded Funds

AllianzIM US Large Cap Buffer10 Aug ETF

YieldMax NFLX Option Income Strategy ETF

I love ETF milestones, whether they are global bond ETF assets hitting a key level or a widely held ETF reaching a round number anniversary. So when I learned another was just reached, I got excited.

Lots to Celebrate at the NYSE

First Trust Bloomberg Emerging Market Democracies ETF

First Trust Bloomberg Inflation Sensitive Equity ETF

First Trust Multi-Strategy Alternative ETF

First Trust Advisors has launched two new actively managed intermediate fixed income ETFs on the New York Stock Exchange. The First Trust Intermediate Duration Investment Grade Corporate ETF (NYSE Arca: FIIG) invests in in investment grade corporate debt.

First Trust Issues 2 Active Intermediate Fixed Income ETFs

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Advisors L.P. (“First Trust”), a leading exchange-traded fund (“ETF”) provider and asset manager, announced today that it has launched two new actively managed ETFs, the First Trust Intermediate Duration Investment Grade Corporate ETF (NYSE Arca: FIIG) and the First Trust Intermediate Government Opportunities ETF (NYSE Arca: MGOV) (collectively, “the funds”). “We are thrilled to expand First Trust's robust lineup of actively-managed fixed income ETFs,.

First Trust Expands its Actively Managed Fixed Income Lineup with the Launch of First Trust Intermediate Duration Investment Grade Corporate ETF and First Trust Intermediate Government Opportunities ETF

News for First Trust Intermediate Duration Investment Grade Corporate ETF ETF (FIIG)