First Trust Enhanced Short Maturity ETF
First Trust Exchange-Traded Fund IV · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
First Trust Enhanced Short Maturity 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
- Short duration
Fund profile
As filed in the prospectus · 2026 Q1
The First Trust Enhanced Short Maturity ETF s (the Fund ) investment objective is to seek current income, consistent with preservation of capital and daily liquidity.
The fund invests at least 80% of its net assets in investment-grade debt securities selected through bottom-up analysis of credit quality, yield, interest rate sensitivity, and liquidity, with a target average duration under one year and average maturity under three years. The fund limits privately-issued mortgage-backed securities, asset-backed securities, and AAA-rated collateralized loan obligations to 35% of net assets combined. Because portfolio performance depends on the investment advisor's security selection and the fund's holdings are monitored for changes in performance and risk measures, results will diverge from any benchmark.
| Share class | Expense ratio |
|---|---|
| FTSM | 0.29% |
Portfolio turnover 76.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 58.46% |
| Securitized | 27.54% |
| Cash & short-term | 13.73% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Securitized | 27.6% |
| Cash | 13.8% |
| Financials | 13.4% |
| Other | 12.7% |
| 12 smaller | 32.5% |
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: AutoNation, Inc., TARGA RES CORP, ENERGY TRANSFER LP, Quanta Services, Inc., The J M Smucker Company, Vulcan Materials Company, SOUTHERN CALIFORNIA EDISON COMPANY, SMITH & NEPHEW PLC
Largest exited: AUTONATION INC 02/02/2026, TARGA RESOURCES 0226, INTERCONTINENTAL 0226, AMERICAN WATER C 0226, SWEDBANK FRN 04/26, BANK OF NY MELLON CORP, CROWN CASTLE INC, PLAINS ALL AMERI 0226
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 | 74.8% |
| Floating rate | 24.7% |
| Zero-coupon or unclassified | 0.5% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 32.4% |
| 1-3y | 44.2% |
| 3-5y | 6.0% |
| 5-10y | 7.3% |
| 10y+ | 9.9% |
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
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
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.
| Credit spreads | 62% |
| Interest rates | 38% |
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 | +1.13 yr |
| High yield | +0.01 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 | 0.11 yr | 16% |
| 1 yr | 0.44 yr | 63% |
| 5 yr | 0.11 yr | 15% |
| 10 yr | 0.03 yr | 5% |
| 30 yr | 0.00 yr | 1% |
| 3 mo | 0.10 yr | 9% |
| 1 yr | 0.70 yr | 62% |
| 5 yr | 0.32 yr | 28% |
| 10 yr | 0.01 yr | 1% |
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 | +0.11 | +0.10 | +0.00 | $63.9k | $352 |
| 1 yr | +0.44 | +0.69 | +0.01 | $443.0k | $6.8k |
| 5 yr | +0.11 | +0.32 | +0.00 | $204.8k | $647 |
| 10 yr | +0.03 | +0.01 | +0.00 | $8.3k | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
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 |
|---|---|---|---|---|
| — | AutoNation, Inc. | 1.02% | $65.00M | — |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT3.75% · due 2027-04-30 | 0.98% | $62.67M | — |
| — | TARGA RES CORP | 0.94% | $60.00M | — |
| — | ENERGY TRANSFER LP | 0.63% | $40.00M | — |
| — | Quanta Services, Inc. | 0.56% | $35.80M | — |
| — | HUNTINGTON NATIONAL BANK4.87% · due 2028-04-12 | 0.55% | $35.30M | — |
| — | T-MOBILE USA INC3.75% · due 2027-04-15 | 0.55% | $34.87M | — |
| — | HALEON US CAPITAL LLC3.38% · due 2027-03-24 | 0.54% | $34.72M | — |
| — | PRA HEALTH SCIENCES INC2.88% · due 2026-07-15 | 0.53% | $33.95M | — |
| — | KINDER MORGAN INC1.75% · due 2026-11-15 | 0.52% | $32.97M | — |
Top 10 positions are 6.80% of net assets, top 25 13.92%, across 505 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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