---
ticker: "MGOV"
name: "First Trust Intermediate Government Opportunities ETF"
url: "https://etf.net/etf/MGOV"
grade: "C"
score: 40
graded_at: "2026-10-12"
category: "US Treasury & Government"
category_rank: "10 of 16"
methodology: "https://etf.net/methodology"
---

# MGOV: First Trust Intermediate Government Opportunities ETF

Grade **C**, Score 40 of 100. Rank 10 of 16 in US Treasury & Government.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 17 | 13 of 16 |
| Mission | 81 | 8 of 11 |
| Risk | 42 | 9 of 16 |
| Tradability | 9 | 16 of 16 |
| Holdings | 52 | 9 of 16 |
| Durability | 45 | 13 of 16 |

## Top holdings

The fund holds 153 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | US 2YR NOTE (CBT) Dec26 | 8.87% |
| 2 | — | US ULTRA BOND CBT Dec26 | 7.15% |
| 3 | — | Fannie Mae or Freddie Mac TBA, 5.50%, due 04/01/2056 | 5.52% |
| 4 | — | US LONG BOND(CBT) Dec26 | 4.38% |
| 5 | — | GNMA G2 MA7366, 2%, due 05/20/2051 | 4.15% |
| 6 | — | US 5YR NOTE (CBT) Dec26 | 4.06% |
| 7 | — | Fannie Mae or Freddie Mac TBA, 6%, due 06/01/2056 | 3.25% |
| 8 | — | Fannie Mae FN MA4319, 2%, due 04/01/2051 | 2.99% |
| 9 | — | Fannie Mae FN MA4392, 2.50%, due 07/01/2051 | 2.76% |
| 10 | — | Fannie Mae FN MA4057, 2.50%, due 06/01/2050 | 2.75% |
| 11 | — | Fannie Mae Series 2025-49, Class FA, Variable rate, due 06/25/2055 | 2.32% |
| 12 | — | Fannie Mae FN BM7521, 3.50%, due 10/01/2048 | 2.22% |
| 13 | — | U.S. Treasury Bond, 0%, due 05/15/2034 | 2.20% |
| 14 | — | Freddie Mac Series 5642, Class FN, Variable rate, due 03/25/2056 | 2.04% |
| 15 | — | Freddie Mac FR SL1523, 3.50%, due 07/01/2050 | 1.95% |
| 16 | — | Freddie Mac - SLST Series 2025-2, Class A2, 3%, due 10/25/2035 | 1.93% |
| 17 | — | Fannie Mae Series 2012-118, Class VZ, 3%, due 11/25/2042 | 1.90% |
| 18 | — | Freddie Mac Series 4741, Class GY, 3%, due 12/15/2047 | 1.86% |
| 19 | — | Fannie Mae FN BM4963, 3%, due 05/01/2048 | 1.85% |
| 20 | — | Freddie Mac Series 5082, Class LA, 1.50%, due 03/25/2051 | 1.78% |
| 21 | — | Freddie Mac Series 5075, Class Q, 1.50%, due 02/25/2051 | 1.75% |
| 22 | — | Fannie Mae Series 2014-60, Class EZ, 3%, due 10/25/2044 | 1.60% |
| 23 | — | Freddie Mac Series 4639, Class HZ, Variable rate, due 04/15/2053 | 1.59% |
| 24 | — | Freddie Mac FT ZT2264, 4%, due 03/01/2044 | 1.52% |
| 25 | — | U.S. Treasury Bond, 0%, due 11/15/2033 | 1.49% |
| 26 | — | Freddie Mac Series 5066, Class MA, 1.50%, due 01/25/2051 | 1.46% |
| 27 | — | GNMA Series 2015-123, Class ZA, 3.50%, due 09/20/2045 | 1.39% |
| 28 | — | Freddie Mac - SLST Series 2025-1, Class YF, Variable rate, due 05/25/2035 | 1.38% |
| 29 | — | GNMA Series 2022-139, Class AL, 4%, due 07/20/2051 | 1.36% |
| 30 | — | GNMA Series 2026-2, Class AF, Variable rate, due 01/20/2056 | 1.32% |

Source: etf.net, https://etf.net/etf/MGOV. Please cite the page URL.