First Trust Long Duration Opportunities ETF
$19.77−0.06 (−0.30%)
- 0.49%
- $593M
- −6.0%
- 4.69%
- 0.2M sh
- $19.75
- low $19.40high $23.59
The ETF.net LGOV Grade
C
Score 40 out of 100
- 10 of 16
Score 40 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.F17 out of 100Rank 13 of 16Mission
Whether the fund did what it promised, tested against its stated mandate.A75 out of 100Rank 10 of 11Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D26 out of 100Rank 14 of 16Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D39 out of 100Rank 11 of 16Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D39 out of 100Rank 12 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B65 out of 100Rank 5 of 16
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
- 131
- 74%
- 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.
Not enough history yet.
LGOV$9,396
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 | LGOV |
|---|---|
| Year to date | −6.1% |
| 1 month | −2.1% |
| 3 months | −5.5% |
| 1 year | −6.0% |
| 3 years | +3.9% |
| 5 years | −3.0% |
| 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 | −6.1% | |
| 2025 | +9.1% | |
| 2024 | −2.0% | |
| 2023 | +4.9% | |
| 2022 | −19.7% | |
| 2021 | −1.9% | |
| 2020 | +10.8% |
LGOV in the news
LGOV Dividends
- 4.69%
- $0.93
- $0.08 per share
- Monthly
Distribution history
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.
- −0.10
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
0.49%
LGOV0.49%
- The middle half of US Treasury & Government funds
- Median 0.15%
12 of the 16 US Treasury & Government funds charge less.
Other funds in US Treasury & Government
- BGOVIInvesco Equal Weight 0-30 Year Treasury ETFExpense ratio 0.15%1 year return −6.0%
- BJMMFJPMorgan 100% U.S. Treasury Securities Money Market ETFExpense ratio 0.16%1 year return —
- CMGOVFirst Trust Intermediate Government Opportunities ETFExpense ratio 0.50%1 year return −2.7%
- CTROTInvesco MSCI Treasury Duration Rotation ETFExpense ratio 0.15%1 year return —
- FBNDDQuadratic Deflation ETFExpense ratio 1.02%1 year return −2.9%