---
ticker: "SCIO"
name: "First Trust Structured Credit Income Opportunities ETF"
url: "https://etf.net/etf/SCIO"
grade: "D"
score: 37
graded_at: "2026-10-12"
category: "Mortgage-Backed Securities"
category_rank: "18 of 25"
methodology: "https://etf.net/methodology"
---

# SCIO: First Trust Structured Credit Income Opportunities ETF

Grade **D**, Score 37 of 100. Rank 18 of 25 in Mortgage-Backed Securities.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 10 | 22 of 25 |
| Mission | 30 | 15 of 20 |
| Risk | 80 | 4 of 25 |
| Tradability | 42 | 17 of 25 |
| Holdings | 58 | 11 of 25 |
| Durability | 58 | 10 of 25 |

## Top holdings

The fund holds 390 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | US 5YR NOTE (CBT) Dec26 | 9.66% |
| 2 | — | US 2YR NOTE (CBT) Dec26 | 8.11% |
| 3 | — | US 10YR NOTE (CBT)Dec26 | 3.53% |
| 4 | — | Fannie Mae or Freddie Mac TBA, 6%, due 06/01/2056 | 3.06% |
| 5 | — | Fannie Mae or Freddie Mac TBA, 5.50%, due 04/01/2056 | 1.51% |
| 6 | — | REMIC FUNDING TRUST 98-1 Series 2026-2, Class A, 6.259%, due 11/27/2056 | 1.05% |
| 7 | — | Zayo Issuer LLC Series 2025-2A, Class C, 9.489%, due 06/20/2055 | 0.93% |
| 8 | — | Consolidated Communications LLC, Fidium Fiber Fina Series 2025-1A, Class C, 9.408%, due 05/20/2055 | 0.93% |
| 9 | — | GNMA G2 788850, 6%, due 09/20/2066 | 0.81% |
| 10 | — | GNMA TBA, 6.50%, due 01/01/2056 | 0.80% |
| 11 | — | BINOM Securitization Trust Series 2021-INV1, Class B1, Variable rate, due 06/25/2056 | 0.78% |
| 12 | — | Freddie Mac Series 5642, Class FN, Variable rate, due 03/25/2056 | 0.74% |
| 13 | — | REMIC FUNDING TRUST 98-1 Series 2026-1, Class B, Variable rate, due 09/27/2056 | 0.73% |
| 14 | — | GNMA Series 2025-78, Class IO, Variable rate, due 11/16/2063 | 0.72% |
| 15 | — | Zayo Issuer LLC Series 2025-2A, Class B, 6.586%, due 06/20/2055 | 0.71% |
| 16 | — | HOMES Trust Series 2025-NQM2, Class B2, Variable rate, due 02/25/2070 | 0.68% |
| 17 | — | RCO Mortgage LLC Series 2025-4, Class A2, Variable rate, due 10/25/2030 | 0.67% |
| 18 | — | Fannie Mae - CAS Series 2022-R01, Class 1B2, Variable rate, due 12/25/2041 | 0.66% |
| 19 | — | Freddie Mac Series 5690, Class NS, Variable rate, due 02/01/2053 | 0.66% |
| 20 | — | Verus Securitization Trust Series 2024-2, Class B2, Variable rate, due 02/25/2069 | 0.66% |
| 21 | — | U.S. Treasury Bill, 0%, due 10/15/2026 | 0.66% |
| 22 | — | GLS Auto Select Receivables Trust Series 2025-4A, Class D, 5.61%, due 01/18/2033 | 0.66% |
| 23 | — | RCO Mortgage LLC Series 2026-4, Class A1, Variable rate, due 08/25/2031 | 0.65% |
| 24 | — | Zayo Issuer LLC Series 2026-1A, Class C, 7.784%, due 04/20/2056 | 0.65% |
| 25 | — | Point Securitization Trust Series 2026-2, Class A1, 5.25%, due 07/25/2056 | 0.62% |
| 26 | — | REMIC FUNDING TRUST 98-1 Series 2026-3, Class B, 9.362%, due 04/27/2057 | 0.61% |
| 27 | — | CarMax Select Receivables Trust Series 2026-A, Class D, 4.90%, due 05/17/2032 | 0.61% |
| 28 | — | Westlake Automobile Receivables Trust Series 2026-2A, Class D, 5.25%, due 03/15/2032 | 0.60% |
| 29 | — | REMIC FUNDING TRUST 98-1 Series 2026-RR1, Class A1, Variable rate, due 07/27/2030 | 0.59% |
| 30 | — | REMIC FUNDING TRUST 98-1 Series 2025-3, Class B, 7.749%, due 12/27/2056 | 0.58% |

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