First Trust Enhanced Short Maturity ETF
Actively managed U.S. bond ETF
As of its 2026 Q2 report, First Trust Enhanced Short Maturity ETF held 660 positions with $6.40B in net assets. Its ten largest holdings made up 6.8% of the fund. The FTSM share class costs 0.29% a year. Over the 12 months to May 2026, FTSM returned 4.2%, with dividends reinvested. In 2026 Q3 it added 163 new positions and exited 138.
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.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
AutoNation, Inc. | 1.02% | $65.00M | — |
UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT 3.75% · 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 BANK 4.87% · due 2028-04-12 | 0.55% | $35.30M | — |
T-MOBILE USA INC 3.75% · due 2027-04-15 | 0.55% | $34.87M | — |
HALEON US CAPITAL LLC 3.38% · due 2027-03-24 | 0.54% | $34.72M | — |
PRA HEALTH SCIENCES INC 2.88% · due 2026-07-15 | 0.53% | $33.95M | — |
KINDER MORGAN INC 1.75% · due 2026-11-15 | 0.52% | $32.97M | — |
The 200 largest of 660 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%.
| Bonds | 58.46% |
| Securitized | 27.54% |
| Cash & short-term | 13.73% |
By sector
- Securitized
- 27.7%
- Other
- 20.9%
- Financials
- 12.1%
- Cash
- 10.6%
- 12 other sectors
- 28.7%
- Securitized
- 27.7%
- Other
- 20.9%
- Financials
- 12.1%
- Cash
- 10.6%
- International
- 5.6%
- Health Care
- 5.2%
- Information Technology
- 3.5%
- Industrials
- 2.8%
- Government
- 2.7%
- Consumer Staples
- 2.7%
- Utilities
- 2.3%
- Energy
- 1.2%
- Materials
- 1.1%
- Consumer Discretionary
- 0.9%
- Communication Services
- 0.7%
- Real Estate
- 0.1%
How it has done
FTSM share class · total returns with dividends reinvested
Volatility over the last 12 months: 0.39%. 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 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
- Expense ratio, by class
- 0.29%· FTSM 0.29%
- Portfolio turnover
- 76.00% a year · as of 2026 Q1
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.
163 new· the largest 7
138 exited· the largest 8
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.
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 — FTSM, QQQ and the fund in my 401(k)?”
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