First Trust SSI Strategic Convertible Securities ETF
$47.56−0.62 (−1.30%)
- 0.95%
- $96M
- +13.1%
- 1.14%
- 0M sh
- $49.09
- low $41.00high $54.90
The ETF.net FCVT Grade
C
Score 53 out of 100
- 4 of 7
Score 53 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F20 out of 100Rank 6 of 7Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 6Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C41 out of 100Rank 5 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C46 out of 100Rank 4 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B65 out of 100Rank 3 of 7Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B67 out of 100Rank 3 of 7
Our read on FCVT
CConvertibles are a hybrid, quirky corner of the bond market, and this one hands the keys to a Los Angeles boutique that specializes in them. Active, global, no index to hug since 2015. Specialist judgment is the whole pitch, and you pay up for it.
The fund is actively managed and seeks total return by investing at least 80% of net assets in a diversified portfolio of U.S. and non-U.S. convertible securities under normal market conditions.
Why people hold it
- No index to follow. First Trust farms security selection out to SSI Investment Management, a Los Angeles firm built around convertible assets, equities and hedging strategies.sec.gov
- Global by mandate: at least 80% of net assets in U.S. and non-U.S. convertible securities, with total return as the stated objective rather than income alone.ftportfolios.com
- The prospectus also permits synthetic convertibles (an income piece plus a conversion component), so the manager can build hybrid exposure where no traditional convertible exists.ftportfolios.com
- Live since 2015 with a diversified book of roughly 130 positions and monthly distributions.
Worth knowing
- That specialist team costs 0.95% a year, above the convertibles group median and several times index rivals ICVT (0.20%) and CWB (0.40%).
- Thinly traded next to the category's index heavyweights, which tends to mean wider spreads and more care needed on sizable orders.
- Convertibles track their underlying stocks, so this behaves more like equity risk than a plain bond fund, and synthetic positions add counterparty exposure.ftportfolios.com
FCVT Holdings
- Bonds
- 120
- 23%
- GOOGM
Sectors
- Communication37.9%
- Technology27.5%
- Financials18.5%
- Health Care9.1%
- Industrials3.5%
- Utilities3.4%
Geography
- United States87.62%
- Netherlands7.04%
- Australia1.57%
- Bermuda1.01%
- United Kingdom0.92%
- Hong Kong0.62%
- Canada0.54%
- Switzerland0.37%
- 0.31%
FCVT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FCVT$11,310
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FCVT |
|---|---|
| Year to date | +12.9% |
| 1 month | −2.3% |
| 3 months | −6.6% |
| 1 year | +13.1% |
| 3 years | +18.2% |
| 5 years | +5.0% |
| 10 years | +10.7% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FCVT |
|---|---|---|
| 2026 YTD | +12.9% | |
| 2025 | +19.6% | |
| 2024 | +11.9% | |
| 2023 | +7.1% | |
| 2022 | −20.9% | |
| 2021 | +4.1% | |
| 2020 | +51.0% |
FCVT in the news
FCVT Dividends
- 1.14%
- $0.55
- $0.05 per share
- Monthly
Distribution history
FCVT Risk
- 14.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.91
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −30.5%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.25
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FCVT Cost
0.95%
FCVT0.95%
- The middle half of Convertible Bond funds
- Median 0.80%
5 of the 7 Convertible Bond funds charge less.
Other funds in Convertible Bond
- ACWBState Street SPDR Bloomberg Convertible Securities ETFExpense ratio 0.40%1 year return +11.4%
- BCVRTCalamos Convertible Equity Alternative ETFExpense ratio 0.69%1 year return +28.6%
- CMCVTMiller Convertible Total Return ETFExpense ratio 0.85%1 year return —
- CACVTAdvent Convertible Bond ETFExpense ratio 0.80%1 year return +7.2%
- DDADSTidal ETF Trust - Digital Asset Debt Strategy ETFExpense ratio 1.04%1 year return −8.0%