| Fund Description |
| The First Trust Alternative Absolute Return Strategy ETF is an actively managed exchange-traded fund that seeks to provide investors with long-term total return. The Fund is an actively managed exchange-traded fund that seeks to achieve long-term total return through long and short invest-ments in exchange-traded commodity futures contracts ( Commodity Futures ) through a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands (the Subsidiary ). The Fund will not invest directly in Commodity Futures. The Fund expects to gain exposure to these investments exclusively by investing in the Subsidiary. The Subsidiary is advised by First Trust Advisors L.P., the Fund s investment advisor. The Fund s investment in the Subsidiary is intended to provide the Fund with exposure to commodity markets within the limits of current federal income tax laws applicable to investment companies such as the Fund, which limit the ability of investment companies to invest directly in Commodity Futures. The Subsidiary has the same investment objective as the Fund, but unlike the Fund, it may invest without limitation in Commodity Futures. Except as otherwise noted, for purposes of this prospectus, refer-ences to the Fund s investments include the Fund s indirect investments through the Subsidiary. The Fund will invest up to 25% of its total assets in the Subsidiary. |
| Fund Profile |
| Fund Name |
First Trust Alternative Absolute Return Strategy ETF |
| Fund Exchange Ticker |
FAAR |
| Fund Sponsor |
First Trust |
| Fund ISIN |
US33740Y1010 |
| Net Expense Ratio |
0.95 % |
| Fund Inception Date |
18 May 2016 |
| Fund Legal Structure |
Grantor Trust |
| Exchange |
NASDAQ |
| Listing Country Code |
US |
| Fund Investment Objective |
| ETF Type Specific |
Commodities & Metals - Diversified Commodities |
| Asset Class |
Commodities & Metals |
| Index Linked |
Active |
| Index Name |
Not Applicable |
| Index Provider |
Not Applicable |
| Currency Hedged |
No |
| Inverse / Leveraged |
Not Applicable |
| Developed / Emerging |
Funds Combining Developed & Emerging Exposure |
| Commodity Types |
Diversified Commodities |
| Key Statistics |
| Return As of Date |
23 October 2020 |
| Asset Under Management |
50.62 Million (USD) |
| 1 Month Total Return |
1.19 % |
| Year To Date Return |
3.30 % |
| 1 Year Total Return |
1.98 % |
| 3 Year Annualized Total Return |
-1.87 % |
| NAV |
26.64 |
| Share Outstanding |
1,900,000 |