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ETFs

First Trust TCW Unconstrained Plus Bond ETF

UCON
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Jun 04 2018
Expense Ratio
0.85%
Type
Global Bonds
Fund Owner
First Trust
Volume (1m avg. daily)
$11,374,211
AUM
$1,481,089,048
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
U.S. Treasury Bill 0% due 10/12/2023
7.65%
n/a
U.S. Treasury Bill 0% due 10/19/2023
4.78%
n/a
Fannie Mae or Freddie Mac TBA 2.50% due 02/01/2052
4.07%
n/a
Fannie Mae or Freddie Mac TBA 2% due 01/01/2052
3.87%
n/a
Fannie Mae or Freddie Mac TBA 5% due 10/01/2052
3.75%
n/a
Fannie Mae or Freddie Mac TBA 3% due 04/01/2052
2.78%
n/a
Fannie Mae or Freddie Mac TBA 5.50% due 11/01/2052
2.21%
n/a
FED HOME LN DISCOUNT NT N/C 0% due 10/18/2023
1.99%
n/a
Fannie Mae 4.5 % TBA MBS Single Family 30 Years Maturity Settles Jun
1.99%
n/a
Fannie Mae 4 % TBA MBS Single Family 30 Years Maturity Settles June
1.25%
Invest with UCON

What is UCON?

The investment objective of the First Trust TCW Unconstrained Plus Bond ETF (the "Fund") is to seek to maximize long-term total return. Under normal market conditions, the Fund intends to invest at least 80% of its net assets (including investment borrowings) in a portfolio of fixed income securities. The Funds investment sub-advisor, TCW Investment Management Company LLC ("TCW" or the "Sub-Advisor"), will manage the Funds portfolio in an "unconstrained" manner, meaning that its investment universe is not limited to the securities of any particular index and it has discretion to invest in fixed income securities of any type or credit quality, including up to 70% in high yield (or "junk") securities, up to 60% in emerging market securities and up to 50% in securities denominated in foreign currencies. Additionally, under normal market conditions, the Funds average portfolio duration will vary from between 0 to 10 years. Duration is a measure of the expected price volatility of a fixed income security as a result of changes in market rates of interest.

ETFs related toUCON

ETFs correlated to UCON include JPIE, CGCP, SPIB

UCON
First Trust Exchange-Traded Fund VIII - First Trust TCW Unconstrained Plus Bond ETF
JPIE
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Income ETF
CGCP
Capital Group Companies Inc - Capital Group Core Plus Income ETF
SPIB
SSgA Active Trust - SPDR Portfolio Intermediate Term Corporate Bond ETF
FIXD
First Trust Exchange-Traded Fund VIII - First Trust TCW Opportunistic Fixed Income ETF
IBDV
iShares Trust - iShares iBonds Dec 2030 Term Corporate ETF
DFCF
Dimensional ETF Trust - Dimensional Core Fixed Income ETF
GNMA
BlackRock Institutional Trust Company N.A. - iShares GNMA Bond ETF
SPBO
SPDR Series Trust - SPDR Portfolio Corporate Bond ETF
PFIG
Invesco Capital Management LLC - Invesco Fundamental Investment Grade Corporate Bond ETF
GTO
Invesco Capital Management LLC - Invesco Total Return Bond 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.

Automated Strategies
Related toUCON

#SPYMIN

SPY minimum drawdown

Category

Community

Risk Rating

Aggressive

#LSBH

Hedgefundies Refined: Leveraged Stocks and Bonds with a Hedge

Category

Balance Risk Not Assets, Lever Up, Composer's Picks, Leverage: High Risk, High Reward

Risk Rating

Aggressive

Create your own algorithmic trading strategy with UCON using Composer

FAQ

UCON is a Global Bonds ETF. The investment objective of the First Trust TCW Unconstrained Plus Bond ETF (the "Fund") is to seek to maximize long-term total return. Under normal market conditions, the Fund intends to invest at least 80% of its net assets (including investment borrowings) in a portfolio of fixed income securities. The Funds investment sub-advisor, TCW Investment Management Company LLC ("TCW" or the "Sub-Advisor"), will manage the Funds portfolio in an "unconstrained" manner, meaning that its investment universe is not limited to the securities of any particular index and it has discretion to invest in fixed income securities of any type or credit quality, including up to 70% in high yield (or "junk") securities, up to 60% in emerging market securities and up to 50% in securities denominated in foreign currencies. Additionally, under normal market conditions, the Funds average portfolio duration will vary from between 0 to 10 years. Duration is a measure of the expected price volatility of a fixed income security as a result of changes in market rates of interest.

Yes, UCON 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, UCON 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 UCON is -0.0063%. This is the percent change in the value of UCON over the most recent 1-month period. The 3-month return on UCON is 0.0257%. This is the percent change in the value of UCON over the most recent 3-month period.

The standard deviation of UCON for the past year is 0.0532%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to UCON include AGG, BND, and BSV.

ETFs correlated to UCON include JPIE, CGCP, and SPIB.

ETFs that are inversely correlated to UCON include TBX, PST, and TMV.

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.