First Trust Long/Short Equity ETF
Actively managed U.S. stock ETF
As of its 2026 Q2 report, First Trust Long/Short Equity ETF held 393 positions with $2.30B in net assets. Its ten largest holdings made up 28.6% of the fund. The FTLS share class costs 1.38% a year. Over the 12 months to May 2026, FTLS returned 14.9%, with dividends reinvested. In 2026 Q3 it added 222 new positions and exited 260.
The First Trust Long/Short Equity ETF s (the Fund ) investment objective is to seek to provide investors with long-term total return.
The fund establishes long and short positions in U.S. exchange-listed equities and ETFs, using quantitative analysis of fundamental, market, technical and statistical attributes to identify securities expected to outperform (long basket) or underperform (the short basket), with preliminary rankings based on an earnings quality model. The portfolio typically holds 80–100% in long positions and 0–50% in short positions, with short proceeds held in cash rather than used to leverage long exposure. Because returns depend on the accuracy of the manager's security selection across both long and short baskets, performance will diverge from broad market returns.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
AAPLAPPLE INC | 5.89% | $135.12M | 497.9K | $271.35 |
NVDANVIDIA CORP | 3.45% | $79.28M | 397.2K | $199.57 |
MSFTMICROSOFT CORP | 3.21% | $73.68M | 180.7K | $407.78 |
GOOGLALPHABET INC | 2.69% | $61.62M | 160.1K | $384.80 |
2.46% | $56.37M | 180.0K | $313.23 | |
2.39% | $54.91M | 1.0M | $53.46 | |
ASML HOLDING NV | 2.35% | $53.86M | 37.4K | $1,438.99 |
2.12% | $48.74M | 102.9K | $473.60 | |
QCOMQUALCOMM INC | 2.04% | $46.93M | 261.3K | $179.58 |
1.98% | $45.38M | 44.7K | $1,014.53 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
The 200 largest of 393 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%.
| Stocks | 69.29% |
| Cash & short-term | 1.75% |
| Derivatives | -0.92% |
Look-through blends 1 underlying fund; 1.478% 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
- Information Technology
- 27.6%
- Financials
- 13.5%
- Health Care
- 11.4%
- International
- 10.9%
- 10 other sectors
- 36.6%
- Information Technology
- 27.6%
- Financials
- 13.5%
- Health Care
- 11.4%
- International
- 10.9%
- Communication Services
- 7.6%
- Industrials
- 5.1%
- Cash
- 4.9%
- Real Estate
- 4.6%
- Consumer Discretionary
- 4.5%
- Consumer Staples
- 4.4%
- Energy
- 3.6%
- Materials
- 1.3%
- Utilities
- 0.5%
- Other
- 0.0%
How it has done
FTLS share class · total returns with dividends reinvested
Volatility over the last 12 months: 5.83%. 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 Long/Short Equity ETF is an actively managed U.S. equity ETF. 15% of FTLS’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 88% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Expense ratio, by class
- 1.38%· FTLS 1.38%
- Portfolio turnover
- 245.00% 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.
222 new· the largest 8
260 exited· the largest 8
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 — FTLS, QQQ and the fund in my 401(k)?”
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