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ETFs

First Trust Intermediate Government Opportunities ETF

MGOV
$—
Today’s Change
— (—)

Snapshot
*

Inception Date
Aug 2, 2023
Expense Ratio
0.68%
Type
US Bonds
Fund Owner
First Trust
Volume (1m avg. daily)
$151,322
AUM
$14,737,539
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

—
Fannie Mae 4 % TBA MBS Single Family 30 Years Maturity Settles October
11.62%
—
Fannie Mae or Freddie Mac TBA 5% due 06/01/2053
10.42%
—
Fannie Mae or Freddie Mac TBA 6% due 05/01/2053
7.12%
—
Freddie Mac Series 4741 Class GY 3% due 12/15/2047
6.84%
—
FHLMC Multifamily Structured Pass Through Certs. Series KJ47 Class A2 5.43% due 06/25/2031
6.81%
—
U.S. Treasury Note 4.625% due 02/28/2025
6.76%
—
U.S. Treasury Note 4.50% due 11/30/2024
6.75%
—
U.S. Treasury Note 4.25% due 09/30/2024
6.74%
—
Fannie Mae Series 2016-94 Class MB 2.50% due 12/25/2046
6.71%
—
FHLMC Multifamily WI Certificates Series K160 Class A2 4.50% due 12/25/2033
6.49%
Invest with MGOV
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What is MGOV?

The First Trust Intermediate Government Opportunities ETF seeks to maximize long-term total return. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of debt securities issued or guaranteed by the U.S. government (including U.S. Treasury bonds, notes and bills), its agencies or government-sponsored entities (Government Securities). The Fund's investments in Government Securities include publicly-issued U.S. Treasury securities and mortgage-related securities such as pass-through securities, collateralized mortgage obligations (CMOs) and commercial mortgage-backed securities (CMBS).

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MGOV
Performance Measures**

for the time period Aug 3, 2023 to Dec 15, 2025

Returns

1M Trailing Return: 0.1%

The percent change in the value over the most recent 1-month period.

3M Trailing Return: 0.6%

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -6.1%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 6.2%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: 0.99

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: 0.99

The annualized return divided by the max drawdown for the selected time period.

ETFs related toMGOV

ETFs correlated to MGOV include UNIY, SPAB, AGGY

MGOV
First Trust Exchange-Traded Fund IV - First Trust Intermediate Government Opportunities ETF
UNIY
WisdomTree Trust - WisdomTree Voya Yield Enhanced USD Universal Bond Fund
SPAB
SPDR Series Trust - SPDR Portfolio Aggregate Bond ETF
AGGY
WisdomTree Trust - WisdomTree Yield Enhanced U.S. Aggregate Bond Fund
VMBS
Vanguard Group, Inc. - Vanguard Mortgage-Backed Securities ETF
FLCB
Franklin Templeton ETF Trust - Franklin U.S. Core Bond ETF
FISR
SSgA Active Trust - SPDR SSGA Fixed Income Sector Rotation ETF
SPMB
SPDR Series Trust - SPDR Portfolio Mortgage Backed Bond ETF
JMBS
Janus Capital Management LLC - Janus Henderson Mortgage-Backed Securities ETF
PYLD
Pimco Exchange Traded Fund - PIMCO Multisector Bond Active Exchange-Traded Fund
FIXD
First Trust Exchange-Traded Fund VIII - First Trust TCW Opportunistic Fixed Income ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

MGOV is a US Bonds ETF. The First Trust Intermediate Government Opportunities ETF seeks to maximize long-term total return. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of debt securities issued or guaranteed by the U.S. government (including U.S. Treasury bonds, notes and bills), its agencies or government-sponsored entities (Government Securities). The Fund's investments in Government Securities include publicly-issued U.S. Treasury securities and mortgage-related securities such as pass-through securities, collateralized mortgage obligations (CMOs) and commercial mortgage-backed securities (CMBS).

Yes, MGOV is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, MGOV is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on MGOV is -0.0137%. This is the percent change in the value of MGOV over the most recent 1-month period. The 3-month return on MGOV is %. This is the percent change in the value of MGOV over the most recent 3-month period.

ETFs similar to MGOV include SHY, BIL, and TLT.

ETFs correlated to MGOV include UNIY, SPAB, and AGGY.

ETFs that are inversely correlated to MGOV include PST, TBX, and TTT.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.