First Trust Core Investment Grade ETF
Actively managed U.S. bond ETF
As of its 2026 Q2 report, First Trust Core Investment Grade ETF held 732 positions with $2.37B in net assets. Its ten largest holdings made up 10.4% of the fund. The FTCB share class costs 0.56% a year. Over the 12 months to May 2026, FTCB returned 6.1%, with dividends reinvested. In 2026 Q3 it added 126 new positions and exited 110.
The First Trust Core Investment Grade ETF (the " Fund ") seeks to maximize long-term total return.
The fund employs an active, value-oriented approach to construct a portfolio of investment grade securities across government debt, corporate bonds, mortgage-backed securities, asset-backed securities, municipal bonds, and collateralized loan obligations, using quantitative and qualitative analysis to assess macroeconomic and sector risks and allocate opportunistically for superior risk-adjusted returns. The fund targets a weighted average duration within plus or minus two years of the Bloomberg U.S. Aggregate Bond Index and may use derivatives, short sales up to 30% of net assets, and when-issued or forward-settled securities to manage risks and cash flows. Because the fund is classified as non-diversified under the Investment Company Act of 1940, it may hold larger positions in individual issuers than a diversified fund, concentrating performance in fewer securities.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 3.50% · due 2029-02-15 | 1.71% | $40.56M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 4.50% · due 2056-05-01 | 1.36% | $32.22M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 5.50% · due 2056-07-15 | 1.21% | $28.63M | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 3.50% · due 2029-03-15 | 1.17% | $27.69M | — |
MORGAN STANLEY INSTITUTIONAL LIQUIDITY FUNDS | 1.08% | $25.68M | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 0.00% · due 2034-11-15 | 0.89% | $21.00M | — |
GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2.00% · due 2051-02-20 | 0.79% | $18.72M | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 0.00% · due 2033-11-15 | 0.75% | $17.78M | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 0.00% · due 2034-08-15 | 0.73% | $17.32M | — |
FEDERAL NATIONAL MORTGAGE ASSOCIATION 4.65% floating · due 2054-11-25 | 0.70% | $16.61M | — |
The 200 largest of 732 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Securitized | 56.47% |
| Bonds | 45.28% |
| Cash & short-term | 1.08% |
| Derivatives | -0.33% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
By sector
- Securitized
- 56.9%
- Government
- 19.1%
- Other
- 8.3%
- Financials
- 5.2%
- 10 other sectors
- 10.5%
- Securitized
- 56.9%
- Government
- 19.1%
- Other
- 8.3%
- Financials
- 5.2%
- International
- 3.0%
- Health Care
- 1.6%
- Utilities
- 1.4%
- Consumer Staples
- 1.2%
- Industrials
- 1.0%
- Cash
- 0.8%
- Information Technology
- 0.8%
- Real Estate
- 0.4%
- Materials
- 0.2%
- Consumer Discretionary
- 0.2%
How it has done
FTCB share class · total returns with dividends reinvested
Volatility over the last 12 months: 3.74%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
First Trust Core Investment Grade ETF is an actively managed U.S. bond ETF.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
- Features
- Non-diversified
- Expense ratio, by class
- 0.56%· FTCB 0.56%
- Portfolio turnover
- 183.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
126 new· the largest 4
110 exited· the largest 2
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 55.3% |
| Floating rate | 30.8% |
| Zero-coupon or unclassified | 13.9% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.3% |
| 1-3y | 5.3% |
| 3-5y | 5.4% |
| 5-10y | 21.8% |
| 10y+ | 66.3% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying nearly as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 56% |
| Credit spreads | 44% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +4.44 yr |
| High yield | +0.24 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.03 yr | 0% |
| 1 yr | 0.66 yr | 11% |
| 5 yr | 1.65 yr | 27% |
| 10 yr | 2.73 yr | 45% |
| 30 yr | 1.00 yr | 16% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.34 yr | 7% |
| 5 yr | 2.50 yr | 53% |
| 10 yr | 1.67 yr | 36% |
| 30 yr | 0.16 yr | 4% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.03 | +0.00 | +0.00 | $395 | $55 |
| 1 yr | +0.66 | +0.30 | +0.03 | $72.0k | $8.3k |
| 5 yr | +1.65 | +2.40 | +0.10 | $568.0k | $24.4k |
| 10 yr | +2.73 | +1.57 | +0.10 | $372.9k | $23.4k |
| 30 yr | +1.00 | +0.16 | +0.00 | $38.7k | $203 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — FTCB, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”