First Trust Intermediate Government Opportunities ETF
$19.16+0.03 (+0.16%)
- 0.50%
- $97M
- −2.7%
- 4.99%
- 0M sh
- $19.16
- low $18.94high $20.95
The ETF.net MGOV 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.A81 out of 100Rank 8 of 11Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C42 out of 100Rank 9 of 16Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F9 out of 100Rank 16 of 16Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C52 out of 100Rank 9 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C45 out of 100Rank 13 of 16
Our read on MGOV
CActive management in a corner of the market built on index trackers. First Trust's team roams Treasuries, agency and mortgage-related debt instead of following one benchmark, and pays out monthly.
The Fund seeks to maximize long-term total return by investing primarily in U.S. government, agency, government-sponsored-entity, Treasury, and mortgage-related debt securities. It may also use ETFs and derivatives tied to Government Securities.
Why people hold it
- Genuinely active mandate: Treasuries, agency and government-sponsored-entity debt, and mortgage-related bonds, plus ETFs and derivatives tied to government securities.
- Pays monthly, so income lands on a steady schedule instead of quarterly.
- Credit stays in government and agency territory. The manager's levers are interest-rate positioning and mortgage exposure, not reaching down into junk.
- Spread across roughly a hundred-plus bond positions rather than a handful of concentrated bets.
Worth knowing
- At 0.50% a year, it costs well above index government-bond peers like VGIT and SCHP, which run at a few basis points. The active call is what you're paying for.
- Thinly traded next to the category's giants, so bid-ask spreads and order size are worth a look.
- Launched in 2023, so the record is short compared with government-bond funds that have been running for decades.
MGOV Holdings
- Bonds
- 153
- 46%
- US 2YR NOTE (CBT) Dec26
Geography
- United States100.00%
MGOV 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.Not enough history yet.
MGOV$9,730
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 | MGOV |
|---|---|
| Year to date | −3.3% |
| 1 month | −2.1% |
| 3 months | −3.5% |
| 1 year | −2.7% |
| 3 years | +4.8% |
| 5 years | — |
| 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 | MGOV |
|---|---|---|
| 2026 YTD | −3.3% | |
| 2025 | +8.6% | |
| 2024 | +1.5% | |
| 2023 | +4.6% |
MGOV in the news
MGOV Dividends
- 4.99%
- $0.96
- $0.07 per share
- Monthly
Distribution history
MGOV Risk
- 6.6%
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.
- −0.002
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.
- −6.3%
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.
- 0.26
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MGOV Cost
0.50%
MGOV0.50%
- The middle half of US Treasury & Government funds
- Median 0.15%
13 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 —
- CLGOVFirst Trust Long Duration Opportunities ETFExpense ratio 0.49%1 year return −6.0%
- CTROTInvesco MSCI Treasury Duration Rotation ETFExpense ratio 0.15%1 year return —
- FBNDDQuadratic Deflation ETFExpense ratio 1.02%1 year return −2.9%