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Launched · SEC filings

First Trust Enhanced Short Maturity ETF

FTSMNasdaqFirst TrustB

$59.60+0.02 (+0.03%)

At close: Nov 2, 2026, 4:00 PM ET

B61/ 100

Rank 36 of 78 in Cash & Ultra-Short Income

B61/100Rank 36 of 78inCash & Ultra-Short Income
Intraday session: up, 79 prints from 59.58 to 59.60. Range 59.59 to 59.62. Use the arrow keys to read each point.59.5959.6159.6210 AM12 PM2 PM4 PM
Expense ratio
0.29%
Fund size
$6.8B
1Y total return
+3.6%
Yield · Last 12 months
4.45%
Holdings
742
Avg volume · 30D
720K sh
52W range
low $59.49high $60.91
Launched
Filings
SEC EDGAR

The ETF.net FTSM Grade

B

Score 61 out of 100

Category
Cash & Ultra-Short Income⁠
Rank
36 of 78
Six-pillar profile for FTSM. Scores out of 100: Cost 13, Risk 49, Mission 100, Tradability 76, Holdings 93, Durability 88. Strongest: Mission (100). Weakest: Cost (13). Leans toward Mission.

Score 61 of 100 falls in the B 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.
    F13 out of 100
    Rank 68 of 78

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A100 out of 100
    Rank 1 of 67

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 41 of 75

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A76 out of 100
    Rank 15 of 78

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A93 out of 100
    Rank 4 of 77

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A88 out of 100
    Rank 6 of 78

Our read on FTSM

ETF.net Research

In short

BA 2014-vintage active take on the cash-parking shelf: First Trust's managers roam short-duration investment-grade debt across sectors instead of tracking an index, chasing current income while preserving capital and keeping daily liquidity.

Stated mandate

The fund seeks current income while preserving capital and maintaining daily liquidity. It is actively managed and invests in short-duration, primarily U.S.-dollar-denominated, investment-grade securities across a broad range of asset classes.

Why people hold it

  • No index to follow. The team picks short-duration, mostly US-dollar investment-grade paper across a broad range of asset classes, aiming for current income with capital preservation and daily liquidity.ftportfolios.com
  • Live since 2014, it has run through an entire rate cycle and grown into a multi-billion-dollar fund that trades actively, so entering and exiting is generally straightforward.
  • Roughly 400 positions keep any single issuer a small slice of the pot, and income is paid out monthly rather than quarterly.

Worth knowing

  • Active management carries an active price: 0.29% a year against a 0.20% median for cash-alternative peers. ICSH charges 0.08% and JPST 0.18% for a similar job.
  • You are buying a manager's credit and duration calls, not a rulebook. Two ultra-short funds can hold quite different paper and behave differently in a stressed market.
  • It is a 1940 Act ETF, not a money market fund or a bank deposit. The share price can move, and preserving capital is a stated goal rather than a promise.ftportfolios.com

FTSM Performance

Launched Aug 5, 2014

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FTSM$10,359
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FTSM $10,359. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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.

Trailing total return for FTSM. Periods over one year show the average yearly return.
PeriodFTSM
Year to date+2.9%
1 month+0.5%
3 months+0.8%
1 year+3.6%
3 yearsper year+4.7%
5 yearsper year+3.7%
10 yearsper year+2.6%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FTSM
YearReturn barFTSM
2026 YTD+2.9%
2025+4.7%
2024+5.2%
2023+5.1%
2022+1.0%
20210.0%
2020+1.1%

FTSM in the news

FTSM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
4.45%Last 12 months
Payout per share
$2.65Last 12 months
Upcoming payment
$0.21 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 46 payments from 2023 to 2026 YTD. Jan 31, 2023 $0.20; Feb 28, 2023 $0.20; Mar 31, 2023 $0.21; Apr 28, 2023 $0.21; May 31, 2023 $0.23; Jun 30, 2023 $0.23; Jul 31, 2023 $0.24; Aug 31, 2023 $0.25; Sep 29, 2023 $0.25; Oct 31, 2023 $0.24; Nov 30, 2023 $0.24; Dec 26, 2023 $0.25; Jan 31, 2024 $0.26; Feb 29, 2024 $0.24; Mar 28, 2024 $0.25; Apr 30, 2024 $0.25; May 31, 2024 $0.25; Jun 28, 2024 $0.25; Jul 31, 2024 $0.25; Aug 30, 2024 $0.25; Sep 30, 2024 $0.25; Oct 31, 2024 $0.24; Nov 29, 2024 $0.23; Dec 27, 2024 $0.23; Jan 31, 2025 $0.23; Feb 28, 2025 $0.20; Mar 31, 2025 $0.22; Apr 30, 2025 $0.21; May 30, 2025 $0.23; Jun 30, 2025 $0.22; Jul 31, 2025 $0.22; Aug 29, 2025 $0.22; Sep 30, 2025 $0.21; Oct 31, 2025 $0.21; Nov 28, 2025 $0.20; Dec 29, 2025 $0.20; Jan 30, 2026 $0.21; Feb 27, 2026 $0.19; Mar 31, 2026 $0.21; Apr 30, 2026 $0.20; May 29, 2026 $0.21; Jun 30, 2026 $0.20; Jul 31, 2026 $0.21; Aug 31, 2026 $0.20; Sep 30, 2026 $0.21; Oct 30, 2026 $0.21. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Oct 30, 2026Pays Nov 3, 2026$0.21
Sep 30, 2026Oct 2, 2026$0.21
Aug 31, 2026Sep 2, 2026$0.20
Jul 31, 2026Aug 4, 2026$0.21
Jun 30, 2026Jul 2, 2026$0.20
May 29, 2026Jun 2, 2026$0.21
Apr 30, 2026May 4, 2026$0.20
Mar 31, 2026Apr 2, 2026$0.21
Feb 27, 2026Mar 3, 2026$0.19
Jan 30, 2026Feb 3, 2026$0.21
Dec 29, 2025Dec 31, 2025$0.20
Nov 28, 2025Dec 2, 2025$0.20

See all 146 payments⁠

$10,000 in FTSM 10 years ago paid $2,648 in dividends.⁠

FTSM Risk

Risk pillarC49 out of 100Rank 41 of 75 in Cash & Ultra-Short Income
How much the fund’s monthly returns vary, scaled to a year.
0.5%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.29
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−0.6%
Trough Mar 2022
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.

How strongly the fund’s returns move with its asset-class index.
0.05
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FTSM Cost

Compare FTSM and XHLF

Overpaying vs XHLF, tied cheapest in Cash & Ultra-Short Income

$5,314

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FTSM 0.29%

    $5,952

  • XHLF 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • FTSM 0.29%
  • XHLF 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530FTSM $5,952XHLF $638

Year by year

YearFTSMXHLFOverpaying
10$527$55$472
20$2,044$216$1,828
30$5,952$638$5,314

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