First Trust Low Duration Opportunities ETF
$48.94−0.22 (−0.45%)
- Expense ratio
- 0.66%
- Fund size
- $6.5B
- 1Y return
- +2.7%
- Yield · Last 12 months
- 4.15%
- Holdings
- 1232
- Volume · 30D
- 0.5M sh
- NAV per share
- $49.13
- 52W range
The ETF.net LMBS Grade
Score 43 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.DScore 30Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.AScore 80Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 75Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 42Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 76Category rank
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
- 1,232
- 46%
- 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.
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 | LMBS |
|---|---|
| Year to date | +1.1% |
| 1 month | −0.7% |
| 3 months | −0.3% |
| 1 year | +2.7% |
| 3 years | +5.6% |
| 5 years | +3.1% |
| 10 years | +2.4% |
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 | +1.1% | |
| 2025 | +7.0% | |
| 2024 | +5.1% | |
| 2023 | +6.1% | |
| 2022 | −3.1% | |
| 2021 | −0.9% | |
| 2020 | +1.6% |
LMBS in the news
ETF.net Research hasn’t filed on LMBS yet — coverage lands here as it’s written.
LMBS Dividends
- 4.15%
- $2.04
- $0.17 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 21, 2026 | Aug 31, 2026 | $0.17 |
| Jul 21, 2026 | Jul 31, 2026 | $0.17 |
| Jun 25, 2026 | Jun 30, 2026 | $0.17 |
| May 21, 2026 | May 29, 2026 | $0.17 |
| Apr 21, 2026 | Apr 30, 2026 | $0.17 |
| Mar 26, 2026 | Mar 31, 2026 | $0.17 |
| Feb 20, 2026 | Feb 27, 2026 | $0.17 |
| Jan 21, 2026 | Jan 30, 2026 | $0.17 |
| Dec 12, 2025 | Dec 31, 2025 | $0.17 |
| Nov 21, 2025 | Nov 28, 2025 | $0.17 |
| Oct 21, 2025 | Nov 3, 2025 | $0.17 |
| Sep 25, 2025 | Sep 30, 2025 | $0.17 |
LMBS Risk
- 2.7%
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.
- 0.37
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.
- −6.0%
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
- The middle half of Mortgage-Backed Securities funds
- Median 0.32%
19 of the 24 Mortgage-Backed Securities funds charge less.