First Trust Core Investment Grade ETF
First Trust Exchange-Traded Fund IV · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2025 Q4
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.
| Share class | Expense ratio |
|---|---|
| FTCB | 0.56% |
Portfolio turnover 183.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| 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.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 55.7% |
| Government | 20.4% |
| Other | 7.1% |
| Financials | 5.3% |
| 11 smaller | 11.4% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT ×3, FEDERAL NATIONAL MORTGAGE ASSOCIATION ×4, BIOGEN INC
Largest exited: Fannie Mae or Freddie Mac ×4, US TREASURY N/B ×2, TSY INFL IX N/B, TREASURY BILL
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
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.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.50% · due 2029-02-15 | 1.71% | $40.56M | — |
| — | FEDERAL NATIONAL MORTGAGE ASSOCIATION4.50% · due 2056-05-01 | 1.36% | $32.22M | — |
| — | FEDERAL NATIONAL MORTGAGE ASSOCIATION5.50% · due 2056-07-15 | 1.21% | $28.63M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.50% · 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 DEBT0.00% · due 2034-11-15 | 0.89% | $21.00M | — |
| — | GOVERNMENT NATIONAL MORTGAGE ASSOCIATION2.00% · due 2051-02-20 | 0.79% | $18.72M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2033-11-15 | 0.75% | $17.78M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT0.00% · due 2034-08-15 | 0.73% | $17.32M | — |
| — | FEDERAL NATIONAL MORTGAGE ASSOCIATION4.65% floating · due 2054-11-25 | 0.70% | $16.61M | — |
Top 10 positions are 10.39% of net assets, top 25 19.82%, across 392 issuers.
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