First Trust Low Duration Opportunities ETF
$48.69+0.03 (+0.07%)
- 0.66%
- $6.4B
- +1.4%
- 4.19%
- 0.6M sh
- $48.62
- low $47.60high $51.98
The ETF.net LMBS Grade
C
Score 46 out of 100
- 12 of 25
Score 46 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 21 of 25Mission
Whether the fund did what it promised, tested against its stated mandate.D36 out of 100Rank 13 of 20Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A78 out of 100Rank 5 of 25Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A83 out of 100Rank 3 of 25Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C49 out of 100Rank 13 of 25Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A76 out of 100Rank 6 of 25
Our read on LMBS
CMost mortgage-bond ETFs just clone an index. LMBS hires a manager to hunt current income across roughly 1,100 mortgage positions, keeps the duration short, and pays out monthly. Active where the category is mostly autopilot.
The fund is actively managed and primarily seeks current income, with capital appreciation as a secondary objective.
Why people hold it
- Actively managed, not index-bound: the team pursues current income first, with capital appreciation as a secondary goal, so the mix reflects live judgment on mortgage paper.
- Income arrives monthly rather than quarterly, spread across roughly 1,100 bond positions instead of a handful of big-ticket holdings.
- Multi-billion-dollar fund that trades actively, so getting in and out is generally straightforward rather than a hunt for a counterparty.
- Running since 2014, giving the active approach a decade-plus history through a full swing in interest rates.
Worth knowing
- Active talent is not cheap: 0.66% a year against a 0.35% median for mortgage-bond ETFs, while index rivals VMBS (0.03%) and MBB (0.04%) charge a rounding error.
- No benchmark to lean on. What you own shifts with the manager's calls on which mortgage bonds to hold, which is the whole point and the whole risk.
- This is a focused mortgage-bond sleeve, not a broad core bond fund, so the exposure stays concentrated in one corner of the credit market.
LMBS Holdings
- Bonds
- 1,156
- 43%
- US 2YR NOTE (CBT) Dec26
Geography
- United States100.00%
LMBS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
LMBS$10,143
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 | LMBS |
|---|---|
| Year to date | +0.4% |
| 1 month | −0.7% |
| 3 months | −1.1% |
| 1 year | +1.4% |
| 3 years | +5.4% |
| 5 years | +2.9% |
| 10 years | +2.3% |
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 | LMBS |
|---|---|---|
| 2026 YTD | +0.4% | |
| 2025 | +7.0% | |
| 2024 | +5.1% | |
| 2023 | +6.1% | |
| 2022 | −3.1% | |
| 2021 | −0.9% | |
| 2020 | +1.6% |
LMBS in the news
LMBS Dividends
- 4.19%
- $2.04
- $0.17 per share
- Monthly
Distribution history
LMBS Risk
- 3.0%
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.
- 0.23
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.
- −5.7%
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.
- 0.46
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
LMBS Cost
0.66%
LMBS0.66%
- The middle half of Mortgage-Backed Securities funds
- Median 0.36%
19 of the 24 Mortgage-Backed Securities funds charge less.
Other funds in Mortgage-Backed Securities
- CCMBSiShares CMBS ETFExpense ratio 0.25%1 year return 0.0%
- CDMBSDoubleline Etf Trust - Mortgage ETFExpense ratio 0.39%1 year return −1.9%
- CCAAAFirst Trust AAA CMBS ETFExpense ratio 0.30%1 year return +0.6%
- CIMTGInvesco Actively Managed Exchange-Traded Fund Trust - Invesco Agency MBS ETFExpense ratio 0.22%1 year return —
- CVABSVirtus Newfleet Securitized Income ETFExpense ratio 0.39%1 year return +2.7%