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: August 22, 2017
Record Date: August 24, 2017 Payable Date: August 31, 2017
Ticker
Exchange
Fund Name
Frequency
OrdinaryIncomePer
ShareAmount
ACTIVELY MANAGED EXCHANGE-TRADED FUNDS
First Trust Exchange-Traded Fund III FCAL Nasdaq First Trust
California Municipal High Income ETF Monthly $0.1000 FEMB Nasdaq
First Trust Emerging Markets Local Currency Bond ETF Monthly
$0.2100 FMB Nasdaq First Trust Managed Municipal ETF Monthly
$0.1100 FPE NYSE Arca First Trust Preferred Securities and Income
ETF Monthly $0.0802
First Trust Exchange-Traded Fund IV FCVT Nasdaq First Trust
SSI Strategic Convertible Securities ETF Monthly $0.0350 FDIV
Nasdaq First Trust Strategic Income ETF Monthly $0.1550 FTSL Nasdaq
First Trust Senior Loan Fund Monthly $0.1400 FTSM Nasdaq First
Trust Enhanced Short Maturity ETF Monthly $0.0700 HYLS Nasdaq First
Trust Tactical High Yield ETF Monthly $0.2250 LMBS Nasdaq First
Trust Low Duration Opportunities ETF Monthly $0.1175
First Trust Exchange-Traded Fund VI FTHI Nasdaq First Trust
High Income ETF Monthly $0.0775 FTLB Nasdaq First Trust Low Beta
Income ETF Monthly $0.0525
First Trust Exchange-Traded Fund VIII FCEF Nasdaq First
Trust CEF Income Opportunity ETF Monthly $0.0700 FIXD Nasdaq First
Trust TCW Opportunistic Fixed Income ETF Monthly $0.1038 MCEF
Nasdaq First Trust Municipal CEF Income Opportunity ETF Monthly
$0.0600
INDEX EXCHANGE-TRADED FUNDS
First Trust Exchange-Traded Fund VI MDIV Nasdaq Multi-Asset
Diversified Income Index Fund Monthly $0.0966 YDIV Nasdaq
International Multi-Asset Diversified Income Index Fund Monthly
$0.0706
First Trust Advisors L.P., the Funds' investment advisor, along
with its affiliate, First Trust Portfolios L.P., are privately-held
companies which provide a variety of investment services, including
asset management and financial advisory services, with collective
assets under management or supervision of approximately $109
billion as of July 31, 2017 through unit investment trusts,
exchange-traded funds, closed-end funds, mutual funds and separate
managed accounts.
You should consider the investment objectives, risks, charges
and expenses of a Fund before investing. Prospectuses for the Funds
contain this and other important information and are available free
of charge by calling toll-free at 1-800-621-1675 or visiting
www.ftportfolios.com. A prospectus should be read
carefully before investing.
Past performance is no assurance of future results. Investment
return and market value of an investment in a Fund will fluctuate.
Shares, when sold, may be worth more or less than their original
cost.
Principal Risk Factors: A Fund's shares will change in value,
and you could lose money by investing in a Fund. An investment in a
Fund is not a deposit of a bank and is not insured or guaranteed by
the Federal Deposit Insurance Corporation or any other governmental
agency. There can be no assurance that a Fund's investment
objectives will be achieved. An investment in a Fund involves risks
similar to those of investing in any portfolio of equity securities
traded on exchanges. The risks of investing in each Fund are
spelled out in its prospectus, shareholder report, and other
regulatory filings.
An Index ETF seeks investment results that correspond generally
to the price and yield of an index. You should anticipate that the
value of an Index Fund's shares will decline, more or less, in
correlation with any decline in the value of the index. An Index
Fund's return may not match the return of the index. Unlike a Fund,
the indices do not actually hold a portfolio of securities and
therefore do not incur the expenses incurred by a Fund.
Investors buying or selling Fund shares on the secondary market
may incur customary brokerage commissions. Investors who sell Fund
shares may receive less than the share's net asset value. Shares
may be sold throughout the day on the exchange through any
brokerage account. However, unlike mutual funds, shares may only be
redeemed directly from the Fund by authorized participants, in very
large creation/redemption units. If the Fund's authorized
participants are unable to proceed with creation/redemption orders
and no other authorized participant is able to step forward to
create or redeem, Fund shares may trade at a discount to the Fund's
net asset value and possibly face delisting.
One of the principal risks of investing in a Fund is market
risk. Market risk is the risk that a particular security owned by a
Fund, Fund shares or securities in general may fall in value.
An actively managed ETF is subject to management risk because it
is an actively managed portfolio. In managing such a Fund's
investment portfolio, the portfolio managers, management teams,
advisor or sub-advisor, will apply investment techniques and risk
analyses that may not have the desired result.
A Fund that is concentrated in securities of companies in a
certain sector or industry involves additional risks, including
limited diversification. An investment in a Fund concentrated in a
single country or region may be subject to greater risks of adverse
events and may experience greater volatility than a Fund that is
more broadly diversified geographically.
Certain Funds may invest in small capitalization and
mid-capitalization companies. Such companies may experience greater
price volatility than larger, more established companies.
An investment in a Fund containing securities of non-U.S.
issuers is subject to additional risks, including currency
fluctuations, political risks, withholding, the lack of adequate
financial information, and exchange control restrictions impacting
non-U.S. issuers. These risks may be heightened for securities of
companies located in, or with significant operations in, emerging
market countries. A Fund may invest in depositary receipts which
may be less liquid than the underlying shares in their primary
trading market.
Investments in sovereign bonds involve special risks because the
governmental authority that controls the repayment of the debt may
be unwilling or unable to repay the principal and/or interest when
due. In times of economic uncertainty, the prices of these
securities may be more volatile than those of corporate debt
obligations or of other government debt obligations.
Preferred Securities, high-yield securities, corporate bonds,
government bonds, municipal bonds and senior loans are subject to
credit risk, call risk, income risk, interest rate risk, and
prepayment risk. Credit risk is the risk that an issuer of a
security will be unable or unwilling to make dividend, interest
and/or principal payments when due and that the value of a security
may decline as a result. Credit risk is heightened for
floating-rate loans and high-yield securities. Call risk is the
risk that if an issuer calls higher-yielding debt instruments held
by a Fund, performance could be adversely impacted. Income risk is
the risk that income from a Fund's fixed-income investments could
decline during periods of falling interest rates. Interest rate
risk is the risk that the value of the fixed-income securities in a
Fund will decline because of rising market interest rates.
Prepayment risk is the risk that during periods of falling interest
rates, an issuer may exercise its right to pay principal on an
obligation earlier than expected. This may result in a decline in a
Fund's income.
Senior floating-rate loans are usually rated below investment
grade but may also be unrated. As a result, the risks associated
with these loans are similar to the risks of high-yield fixed
income instruments. High-yield securities, or "junk" bonds, are
subject to greater market fluctuations and risk of loss than
securities with higher ratings, and therefore, may be highly
speculative. These securities are issued by companies that may have
limited operating history, narrowly focused operations, and/or
other impediments to the timely payment of periodic interest and
principal at maturity. The market for high yield securities is
smaller and less liquid than that for investment grade
securities.
Income from municipal bonds held by a Fund could be declared
taxable because of, among other things, unfavorable changes in tax
laws, adverse interpretations by the Internal Revenue Service or
state tax authorities, or noncompliant conduct of a bond
issuer.
Convertible securities have characteristics of both equity and
debt securities and, as a result, are exposed to certain additional
risks. The values of certain synthetic convertible securities will
respond differently to market fluctuations than a traditional
convertible security because such synthetic convertibles are
composed of two or more separate securities or instruments, each
with its own market value. A Fund is subject to the credit risk
associated with the counterparty creating the synthetic convertible
instrument. Synthetic convertible securities may also be subject to
the risks associated with derivatives.
Exchange-traded notes (ETNs) are senior, unsecured,
unsubordinated debt securities whose returns are linked to the
performance of a particular market benchmark or strategy minus
applicable fees. The value of an ETN may be influenced by various
factors.
Real estate investment trusts (REITs) and real estate operating
companies (REOCs) are subject to certain risks, including changes
in the real estate market, vacancy rates and competition, volatile
interest rates and economic recession.
Master limited partnerships (MLPs) are subject to certain risks,
including price and supply fluctuations caused by international
politics, energy conservation, taxes, price controls, and other
regulatory policies of various governments. In addition, there is
the risk that a MLP could be taxed as a corporation, resulting in
decreased returns from such MLP.
The use of futures, options, and other derivatives can lead to
losses because of adverse movements in the price or value of the
underlying asset, index or rate, which may be magnified by certain
features of the derivatives. These risks are heightened when a
Fund's portfolio managers use derivatives to enhance a Fund's
return or as a substitute for a position or security, rather than
solely to hedge (or offset) the risk of a position or security held
by a Fund.
A Fund may effect a portion of creations and redemptions for
cash, rather than in-kind securities. As a result, an investment in
a Fund may be less tax-efficient than an investment in an
exchange-traded fund that effects its creations and redemptions for
in-kind securities.
A Fund's investment in repurchase agreements may be subject to
market and credit risk with respect to the collateral securing the
repurchase agreements.
Alternative investments may employ complex strategies, have
unique investment and risk characteristics and may not be suitable
for all investors.
Certain Funds may invest in other investment companies,
including closed-end funds (CEFs), ETFs and affiliated ETFs, which
involves additional expenses that would not be present in a direct
investment in the underlying funds. In addition, a Fund's
investment performance and risks may be related to the investment
and performance of the underlying funds.
First Trust Municipal CEF Income Opportunity ETF (MCEF) and
First Trust CEF Income Opportunity ETF (FCEF) invest in CEFs.
Because the shares of CEFs cannot be redeemed upon demand, shares
of many CEFs will trade on exchanges at market prices rather than
net asset value, which may cause the shares to trade at a price
greater than NAV (premium) or less than NAV (discount). There can
be no assurance that the market discount on shares of any CEF
purchased by MCEF or FCEF will ever decrease or when MCEF or FCEF
seeks to sell shares of a CEF it can receive the NAV for those
shares. MCEF and FCEF may also be exposed to higher volatility in
the market due to the indirect use of leverage through their
investment in CEFs. CEFs may issue senior securities in an attempt
to enhance returns.
A Fund may invest in U.S. government obligations. U.S. Treasury
obligations are backed by the "full faith and credit" of the U.S.
government. Securities issued or guaranteed by federal agencies and
U.S. government sponsored instrumentalities may or may not be
backed by the full faith and credit of the U.S. government.
Income from the First Trust Managed Municipal ETF (FMB), the
First Trust California Municipal High Income ETF (FCAL) and MCEF
may be subject to the federal alternative minimum income tax. FMB
and FCAL may invest in zero coupon bonds which may be highly
volatile as interest rates rise and fall. FCAL invests principally
in municipal debt securities from issuers located in California.
Such concentration exposes the Fund to political, fiscal, and
economic conditions affecting California municipal issuers and may
affect the value of the Fund’s investments.
Short selling creates special risks which could result in
increased volatility of returns. In times of unusual or adverse
market, economic, regulatory or political conditions, a Fund may
not be able, fully or partially, to implement its short selling
strategy.
Certain Funds may invest in distressed securities and many
distressed securities are illiquid or trade in low volumes and thus
may be more difficult to value. Illiquid securities involve the
risk that the securities will not be able to be sold at the time
desired by the Fund or at prices approximately the value at which
the Fund is carrying the securities on its books.
Certain Funds are classified as "non-diversified" and may invest
a relatively high percentage of its assets in a limited number of
issuers. As a result, the Fund may be more susceptible to a single
adverse economic or regulatory occurrence affecting one or more of
these issuers, experience increased volatility and be highly
concentrated in certain issuers.
Nasdaq®, NASDAQ U.S. Multi-Asset Diversified Income IndexSM, and
NASDAQ International Multi-Asset Diversified Income IndexSM are
registered trademarks and service marks of Nasdaq, Inc. (which with
its affiliates is referred to as the "Corporations") and are
licensed for use by FTA. The Funds have not been passed on by the
Corporations as to its legality or suitability. The Funds are not
issued, endorsed, sold, or promoted by the Corporations. THE
CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT
TO THE FUNDS.
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version on businesswire.com: http://www.businesswire.com/news/home/20170821005825/en/
First Trust Advisors L.P.Press Inquiries: Ryan Issakainen,
630-765-8689Broker Inquiries: Sales Team, 866-848-9727Analyst
Inquiries: Stan Ueland, 630-517-7633
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