First Trust Long Duration Opportunities ETF
$20.15−0.36 (−1.76%)
- Expense ratio
- 0.49%
- Fund size
- $615M
- 1Y return
- −1.6%
- Yield · Last 12 months
- 4.51%
- Holdings
- 172
- Volume · 30D
- 0.2M sh
- NAV per share
- $20.51
- 52W range
The ETF.net LGOV Grade
Score 40 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 17Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 73Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 31Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 41Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 36Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 65Category rank
Our read on LGOV
CMost government bond ETFs just copy an index. LGOV is First Trust's active version: Treasuries plus agency mortgage bonds, deliberately run long, with a mandate to keep weighted average effective duration at eight years or more.
The fund seeks current income while emphasizing capital preservation. It normally invests at least 80% of net assets in investment-grade debt issued or guaranteed by the U.S. government, its agencies, or government-sponsored entities.
Why people hold it
- Actively managed, not index-shadowing: managers mix Treasuries with agency mortgage-related bonds and can trade them to-be-announced, including mortgage dollar rolls.ftportfolios.combusinesswire.com
- The duration promise is written down: the advisor targets a weighted average effective duration of eight or more years, so rate exposure is the point, not a byproduct.ftportfolios.com
- At least 80% of assets sit in investment-grade US government, agency or GSE debt, across roughly 180 positions, and the fund pays monthly.
- Live since 2019, so the active approach has a track record through a genuinely brutal stretch for long bonds rather than a backtest.
Worth knowing
- Active costs money: 0.49% a year against a roughly 0.15% median for Treasury-bond peers, with index options like GOVT at 0.05% and SPTB at 0.03%.
- Long duration swings both ways. Eight-plus years of duration means far bigger price moves per shift in yields than a short-Treasury fund.ftportfolios.com
- Mid-sized and only moderately traded, so spreads can run wider than the cohort's index giants, and mortgage bonds add prepayment and liquidity wrinkles Treasuries do not have.sec.gov
LGOV Holdings
- Bonds
- 172
- 67%
- US 5YR NOTE (CBT) Dec26
Geography
- United States100.00%
LGOV Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | LGOV |
|---|---|
| Year to date | −3.3% |
| 1 month | −1.5% |
| 3 months | −3.0% |
| 1 year | −1.6% |
| 3 years | +3.8% |
| 5 years | −2.9% |
| 10 years | — |
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 | LGOV |
|---|---|---|
| 2026 YTD | −3.3% | |
| 2025 | +9.1% | |
| 2024 | −2.0% | |
| 2023 | +4.9% | |
| 2022 | −19.7% | |
| 2021 | −1.9% | |
| 2020 | +10.8% |
LGOV in the news
ETF.net Research hasn’t filed on LGOV yet — coverage lands here as it’s written.
LGOV Dividends
- 4.51%
- $0.93
- $0.08 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 21, 2026 | Aug 31, 2026 | $0.08 |
| Jul 21, 2026 | Jul 31, 2026 | $0.08 |
| Jun 25, 2026 | Jun 30, 2026 | $0.08 |
| May 21, 2026 | May 29, 2026 | $0.08 |
| Apr 21, 2026 | Apr 30, 2026 | $0.08 |
| Mar 26, 2026 | Mar 31, 2026 | $0.08 |
| Feb 20, 2026 | Feb 27, 2026 | $0.08 |
| Jan 21, 2026 | Jan 30, 2026 | $0.08 |
| Dec 12, 2025 | Dec 31, 2025 | $0.08 |
| Nov 21, 2025 | Nov 28, 2025 | $0.08 |
| Oct 21, 2025 | Oct 31, 2025 | $0.08 |
| Sep 25, 2025 | Sep 30, 2025 | $0.07 |
LGOV Risk
- 10.2%
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.
- −0.09
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.
- −28.1%
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.
- 1.78
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
LGOV Cost
- The middle half of US Treasury & Government funds
- Median 0.15%
12 of the 16 US Treasury & Government funds charge less.