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FIXDFirst Trust Smith Opportunistic Fixed Income ETF

Get income9y track recordRanked #430 of 1,622 in this goal

Seeks to maximize long-term total return.

By First Trust · Launched 2017

Annual Cost

0.65%

#3,297 of 5,562 · average

Fund Size

$3.3B

#547 of 5,562 · large

Dividend YieldGoal

4.68%

Track Record

9 years

#1,527 of 5,562 · established

Performance

Total-return NAV · USD
Growth of $10,000
$10,498+5.0%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Fixed income

Region

North america

Strategy

Active selection

What it actually holds

By weight

Concentration

Top 10 holdings = 30.3% of fund✓ well diversified

US TREASURY N/B
4.7%
US TREASURY N/B
4.6%
Freddie Mac
3.6%
US TREASURY N/B
3.4%
US TREASURY N/B
3.3%
US TREASURY N/B
3.0%
US TREASURY N/B
2.4%
US TREASURY N/B
2.3%
US TREASURY N/B
1.5%
US TREASURY N/B
1.5%

Asset allocation

Bonds
96.8%
Preferred
3.7%
Convertible
0.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
4.1%Low

Year-on-year price swings

Max drawdown
-20.3%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
0.10Below average
Sortino (3Y)
0.14Moderate downside risk

Bond profile

Duration

5.0 years

Avg maturity

9.8 years

Credit ratings

US Government
18.3%
AAA
40.8%
AA
2.6%
A
13.7%
BBB
27.7%
BB
13.4%
B
1.9%

Where to buy

Listing

Exchange
NASDAQ Global Select Market

Full fund details

Objective
Seeks to maximize long-term total return.
Strategy
Invests primarily in fixed income securities, including U.S. government bonds, corporate bonds, and mortgage-backed securities. The strategy involves active management based on macroeconomic views and credit analysis to identify attractive risk-adjusted returns.
Inception date
February 14, 2017
Fund family
First Trust

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Closet indexing
Warning

Closet indexer — active fees, passive behavior

This fund charges active-management fees but closely tracks its benchmark index. You may be paying a premium for active management that does not meaningfully exist — a combination of high R² versus the benchmark, low tracking error, and a TER sitting well above the passive peer-group median.

R²
95.6%
TE
1.3%
Beta
1.09
Fee
9× 0.07%

Source: Cremers & Petajisto (2009) · Amihud & Goyenko (2013) · ESMA (2016)

Why we flagged this: strategy=active_selection + high_r_squared+low_tracking_error+near_market_beta+fee_premium

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19