Fund Description
The First Trust Municipal CEF Income Opportunity ETF is an actively managed exchange-traded fund. The Funds investment objective is to provide current income. Under normal market conditions, the Fund will seek to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in a portfolio of closed-end investment companies that are listed and traded in the United States on registered exchanges ( Closed-End Funds ) which invest primarily in municipal debt securities some or all of which pay interest that is exempt from regular federal income taxes (collectively, Municipal Securities ).
Fund Profile
Fund Name First Trust Municipal CEF Income Opportunity ETF
Fund Exchange Ticker MCEF
Fund Sponsor First Trust
Fund ISIN US33740F5089
Net Expense Ratio 2.11 %
Fund Inception Date 27 September 2016
Fund Legal Structure ETF (Open end fund)
Exchange NASDAQ
Listing Country Code US
Fund Investment Objective
ETF Type Specific Bonds - Municipal
Asset Class Bonds
Index Linked Active
Index Name Not Applicable
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Developed Market Funds
Bond Type Municipal
Credit Quality Investment Grade Only
Average Maturity Fund Holds All Maturity Ranges
Bond Currency Denomination USD
Key Statistics
Return As of Date 19 October 2018
Asset Under Management 12.82 Million (USD)
1 Month Total Return -2.46 %
Year To Date Return -5.97 %
1 Year Total Return -6.84 %
3 Year Annualized Total Return
NAV 17.09
Share Outstanding 750,002
Top 10 Holdings (18 October 2018)
Constituent Name Constituent Ticker Constituent Type Weighting
BlackRock Municipal 2030 Target Term Trust BOND 0.0485000000
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund MUNI ETF 0.0446000000
Nuveen Intermediate Duration Municipal Term Fund NIDUS MUTU 0.0408000000
Nuveen Municipal Value Fund Inc. BOND 0.0403000000
BlackRock Muni Intermediate Duration Fund Inc. BOND 0.0394000000
BlackRock MuniYield Quality Fund III Inc. BOND 0.0358000000
Western Asset Municipal Partners Fund Inc. BOND 0.0337000000
MainStay DefinedTerm Municipal Opportunities Fund MMDUS MUTU 0.0330000000
Eaton Vance Municipal Income 2028 Term Trust BOND 0.0329000000