Key stats
About First Trust Smith Unconstrained Bond ETF
Home page
Inception date
Jun 4, 2018
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
First Trust Advisors LP
Distributor
First Trust Portfolios LP
UCON seeks long-term total return with its broad discretion to invest in almost any kind of fixed income securities. The fund does not necessarily target any particular part of the bond market, but takes a flexible approach based on the managers top-down, long-term economic outlook. However, the manager may also employ independent, bottom-up research to identify undervalued securities. While UCON does have some exposure limits, they are fairly lax: up to 70% in high-yield debt, 60% in emerging-market debt, 50% in non-USD-denominated debt, and 50% each in residential MBS, commercial MBS, and ABS. MBS not backed by a government or government-sponsored agency is limited to 20% of the portfolio. Individual holdings may be of any maturity, but UCONs portfolio duration will normally not exceed 10 years. The fund may also hold derivatives for hedging or duration management but not to exceed 20% of the portfolio. Prior to May 9, 2025 the sub-advisor was TCW and the fund name contained TCW in place of Smith.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Government
Corporate
Securitized
Bonds, Cash & Other100.00%
Government37.52%
Corporate32.30%
Securitized27.02%
Cash2.91%
Miscellaneous0.18%
Loans0.08%
Stock breakdown by region
North America97.48%
Europe2.52%
Latin America0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
UCON invests in bonds. The fund's major sectors are Government, with 37.52% stocks, and Corporate, with 32.30% of the basket. The assets are mostly located in the North America region.
UCON top holdings are United States Treasury Notes 4.5% 15-MAY-2027 and United States Treasury Notes 3.75% 15-APR-2028, occupying 6.98% and 5.98% of the portfolio correspondingly.
UCON last dividends amounted to 0.09 USD. The month before, the issuer paid 0.09 USD in dividends,
UCON assets under management is 3.05 B USD. It's fallen 5.57% over the last month.
UCON fund flows account for 630.38 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, UCON pays dividends to its holders with the dividend yield of 4.78%. The last dividend (May 30, 2025) amounted to 0.09 USD. The dividends are paid monthly.
UCON shares are issued by AJM Ventures LLC under the brand First Trust. The ETF was launched on Jun 4, 2018, and its management style is Active.
UCON expense ratio is 0.85% meaning you'd have to pay 0.85% of your investment to help manage the fund.
UCON follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
UCON invests in bonds.
UCON price has fallen by −0.04% over the last month, and its yearly performance shows a 0.62% increase. See more dynamics on UCON price chart.
NAV returns, another gauge of an ETF dynamics, have risen by 0.07% over the last month, showed a −0.07% decrease in three-month performance and has increased by 5.14% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by 0.07% over the last month, showed a −0.07% decrease in three-month performance and has increased by 5.14% in a year.
UCON trades at a premium (0.27%) meaning the ETF is trading at a higher price than the calculated NAV.