Fund Overview

  • Ticker:
    FSL
  • Fund Category:
    Floating Rate Loans
  • Portfolio Advisor:
    First Trust Advisors L.P.
  • Fund Manager:
    FT Portfolios Canada Co.
  • CUSIP:
    33739J107
  • ISIN:
    CA33739J1075
  • SEDOL:
    B986MB7
  • Currency:
    CAD
  • Fiscal Year-End:
    31-12
  • Exchange:
    Toronto Stock Exchange
  • Inception:
    2013-08-27
  • Inception Price:
    $19.91
  • Inception NAV:
    $19.91
  • Eligibility:
    RRSP, RRIF, RESP, TFSA, DPSP, RDSP

Fees and Expenses

  • Management Fee: 0.85% since inception
  • MER: 0.95% as at 31/12/17
Please refer to the prospectus for detailed explanation of the funds fees and expense.

Distribution Information (as at 2018-10-16)

  • Dividend Frequency:
    Monthly
  • Dividend Per Share Amount:2
    $0.07250
  • Distribution Rate:3
    4.53%

Fund Characteristics (as at 2018-09-28)

  • Weighted Average Effective Duration:4
    0.36 Years
  • Weighted Average Maturity:
    4.99 Years
  • Weighted Avg. Price:
    $99.41
  • Weighted Avg. Coupon Rate:
    5.16%
  • Gross Weighted Avg. Yield To Maturity:5
    5.11%
  • Gross Yield to a 3-Year Life:
    5.07%
  • Avg. Days to Coupon Reset:6
    40.98 Days
  • 3-Month LIBOR:7
    2.40%
  • % of Assets with LIBOR Floors:
    44.79%

Investment Objective

First Trust Senior Loan ETF (CAD-Hedged) seeks to provide Unitholders with a high level of current income by investing primarily in a diversified portfolio of senior floating rate loans and debt securities, with capital appreciation as a secondary objective. First Trust Senior Loan ETF (CAD-Hedged) will primarily invest in a portfolio of senior floating rate loans which are generally rated at or below BB+ by Standard & Poors, or Ba1 or less by Moody's Investor Services, Inc., or a similar rating by an approved credit rating organization (as such defined in NI 81-102).

Current Data (as at 2018-10-16) Currency: CAD

NAV1% Change$ Change
$19.210.05%$0.01
Daily Volume52-Week High/LowAVG 30-Day Volume
5,437$19.46 / $19.1233,342
Total Net AssetsOutstanding UnitsNumber of Holdings
$116,208,4735,990,010155

Top 10 Holdings (as at 2018-10-16)8

Holding % of Net Assets
VALEANT PHARMACEUTICALS VRXCN TL B 1L USD 2.37%
STARS GROUP HOLDINGS BV TSGICN TL B 1L USD 2.06%
BJ'S WHOLESALE CLUB INC BJ TL B 1L USD 1.82%
CAESARS RESORT COLLECTIO CAERES TL 1L USD 1.75%
INFORMATION RESOURCES IRIC TL B 1L USD 1.66%
ENDO LUXEMBOURG FINANCE ENDP TL B 1L USD 1.49%
TENET HEALTHCARE CORP 7.50%, due 01/01/2022 1.49%
QUIKRETE HOLDINGS INC QUIKHO TL B 1L USD 1.48%
ALIXPARTNERS LLP ALIXPA TL B 1L USD 1.42%
CLUBCORP HOLDINGS INC MYCC TL B 1L USD 1.38%

The top 10 investments make up 21.57% of the fund.

Credit Quality (as at 2018-09-28)8

Credit Quality % of Net Assets
BBB+ 0.55%
BBB- 4.86%
BB+ 4.49%
BB 6.20%
BB- 15.52%
B+ 23.59%
B 22.83%
B- 13.37%
CCC+ 0.78%
CCC 0.21%
D 0.49%
NR 1.03%
The ratings are by Standard & Poor's except where otherwise indicated. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO) of the creditworthiness of an issuer with respect to debt obligations except for those debt obligations that are only privately rated. Ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Investment grade is defined as those issuers that have a long-term credit rating of BBB- or higher. "NR" indicates no rating. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change.

Top Industry Exposure (as at 2018-09-28)8

Industry % of Net Assets
Health Care Providers & Services 15.51%
Hotels, Restaurants & Leisure 12.09%
Software 11.93%
Pharmaceuticals 7.40%
Life Sciences Tools & Services 4.88%
Diversified Financial Services 4.39%
Media 4.35%
Professional Services 4.08%
Insurance 3.32%
Food & Staples Retailing 3.31%

Asset Class Composition (as at 2018-09-28)8

Asset % of Net Assets
Loan 87.98%
Bond 5.95%

Risk Rating

This rating is based on how much the ETF’s returns have changed from year to year. It doesn’t tell you how volatile the ETF will be in the future. The rating can change over time. An ETF with a low risk rating can still lose money.

For more information about the risk rating and specific risks that can affect the ETF’s returns, see the Risk section of the ETF’s prospectus.

Footnotes

1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's outstanding shares .
2 Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.
3 Distribution rate is calculated by dividing the most recent annualized distribution paid or declared by the Net Asset Value. Distribution rates may vary. The distributed amount may include return of capital (ROC) from time to time.
4 A measure of a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. It accounts for the likelihood of changes in the timing of cash flows in response to interest rate movements.
5 The annualized return that would be earned on a debt security if held to maturity, weighted by the value of each debt security in the fund's portfolio. The calculation does not include the effect of fund fees and expenses.
6 The average number of days until the floating component of a loan resets.
7 A short-term funding rate estimated by banks in London that they would be charged if borrowing from other banks assuming a three month maturity.
8 Percentage of net assets may not equal 100%

Commissions, trailing commissions, management fees and expenses all may be associated with Exchange-Traded Fund investments. Please carefully read the prospectus of the fund before investing. Exchange-Traded funds are not guaranteed, their values change frequently and past performance may not be repeated.