DEED vs FSEC: Grades, Fees and Holdings Compared

First Trust Securitized Plus ETF

DEEDCNYSE Arca

FIDELITY INVESTMENT GRADE SECURITIZED ETF

FSECBNYSE Arca

Overlap

No data

Expense ratio

FSEC −0.40pt a year

DEED0.76%FSEC0.36%

Avg volume · 30D

FSEC 10.4×the volume

DEED39.1KFSEC406K

5Y return · a year

FSEC +0.2pt

DEED+0.2%FSEC+0.4%

DEED vs FSEC Performance

Nov 9, 2021 – Nov 9, 2026

+0.8%DEED+1.9%FSEC

Expense ratio: DEED 0.76%; FSEC 0.36%, better
Fund size: DEED $47M; FSEC $4.55B
1Y total return: DEED +1.6%, better; FSEC +1.0%
Yield (12M): DEED 4.74%, better; FSEC 4.54%
Holdings: DEED 97; FSEC 1182
Avg volume (30D): DEED 39.1K sh; FSEC 406K sh, better
NAV per share: DEED $20.93; FSEC $42.95
52W range

ETF.net Grade

Pillar letters and Scores for DEED, FSEC, with each pillar’s weight
Pillar	DEED	FSEC
Cost30% weight	F14	B59Higher
Mission25% weight	A86	A94Higher
Risk15% weight	C46Higher	C40
Tradability15% weight	D29	B67Higher
Holdings10% weight	C41	C47Higher
Durability5% weight	B59	A79Higher

Rank among Core Securitized Bond funds

How we build Categories ›

Same Category. DEED and FSEC are both graded against the same 10 Core Securitized Bond funds, so their Grades compare head to head.

Core Securitized Bond⁠

Category · 10 funds

See all 10 ›

FSEC ranks 3rd and DEED 9th of 10 funds in the Core Securitized Bond Category.

Rank 1AJMBSJanus Henderson Mortgage-Backed Securities ETFScore 76
Rank 2BJPLDJPMorgan Limited Duration Bond ETFScore 69
Rank 3BFSECFIDELITY INVESTMENT GRADE SECURITIZED ETFScore 66
Rank 4BSECRNYLI MacKay Securitized Income ETFScore 65
Rank 8COWNSCCM Affordable Housing MBS ETFScore 47
Rank 9CDEEDFirst Trust Securitized Plus ETFScore 44
Rank 10DDANADana Limited Volatility ETFScore 38

Our read on each fund

ETF.net Research

DEEDCFirst Trust Securitized Plus ETF

FSECBFIDELITY INVESTMENT GRADE SECURITIZED ETF

In short

DEED Most securitized bond ETFs hug agency mortgages. DEED can put up to half its book in private-label MBS, ABS and CLOs, and First Trust has managed it in-house since 2025. Fee: 0.76%, no waiver.

FSEC Most funds in this aisle buy a little of everything. FSEC goes narrow: at least 80% in securitized debt, run for current income, paid out monthly.

Stated mandate

DEED The Fund seeks to maximize long-term total return by normally investing at least 80% of net assets in securitized debt securities, including asset-backed securities, residential and commercial mortgage-backed securities, and collateralized loan obligations.

FSEC The fund seeks a high level of current income by investing primarily in securitized securities and related instruments. Its policy requires at least 80% exposure to that securitized-investment segment.

Why people hold it

DEED The "Plus" is literal: an agency-mortgage core plus room for up to 50% of total assets in private-label MBS, ABS and CLOs, and up to 50% of net assets below investment grade.sec.gov
At least 80% of net assets sit in securitized debt: ABS, residential and commercial MBS, CLOs. Roughly 90 positions, a corner of the bond market core aggregate funds barely touch.ftportfolios.com
Active since 2020, run in-house by First Trust Advisors since the TCW sub-advisory ended in May 2025, on the same prospectus strategy. Pays monthly.sec.gov

FSEC A specialist, not a sampler. The mandate locks at least 80% of assets into securitized debt, so you own that corner of the bond market at full strength instead of as a sliver.
Income is the stated job, not a byproduct, and the cash lands monthly.
Costs 0.36% a year, right at the median for its bond peer group, on a multi-billion-dollar asset base with steady two-way trading.
Holds its own in the upper half of a crowded aggregate-bond field, with a Fidelity bond desk and clear filings behind it.

Worth knowing

DEED At 0.76%, gross and net identical with no waiver, it sits above the category median; agency-focused JMBS runs 0.21% for a narrower job.
Thinly traded with a modest asset base, so bid-ask spreads can run wider than a mainstream bond ETF's and large orders move the quote.
Private-label MBS and CLO tranches add credit and valuation risk agency paper lacks; fund documents flag subordination and collateral shortfalls.ftportfolios.com sec.gov

FSEC Broad-market rivals such as BND, SPAB and SCHZ charge 0.03% for the whole bond market. The 0.36% here is the price of the narrower mandate.
One segment, about 120 positions. It moves with securitized debt rather than the full bond market, which is a different ride from a total-market core fund.
Launched in 2021, so the record is short by bond-fund standards.

Full DEED profile⁠

Full FSEC profile⁠

DEED vs FSEC Holdings

How DEED and FSEC differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Sector3 Sectors80.2%
Countryby domicile98.2%
Asset classBonds100%

Sector

Sector weights in DEED and FSEC, widest gap first
Sector	Gap	DEED	FSEC
Government	DEED +19.8 points	23.4%	3.6%
Securitized	FSEC +19.8 points	76.6%	96.4%
Corporate	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in DEED and FSEC, widest gap first
Country	More in DEEDMore in FSEC	Gap	DEED	FSEC
United States		FSEC +1.8 points	98.2%	100.0%
Cayman Islands		DEED +1.8 points	1.8%	0.0%

Concentration

Weight in the 10 largest Holdings

DEED35.5%
FSEC19.3%

Securities held

DEED96
FSEC1,156

Asset class

DEED: Bonds
FSEC: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. DEED holds 96 securities, FSEC 1,156.

All 91 DEED holdings⁠All FSEC holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DEED vs FSEC Cost

Overpaying DEED vs FSEC

$7,336

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DEED 0.76%
$14,656
FSEC 0.36%
$7,320

Amount$10,000

Years30 years

Cost over time

DEED 0.76%
FSEC 0.36%
Overpaying

Year by year

Year	DEED	FSEC	Overpaying
10	$1,353	$652	$701
20	$5,142	$2,522	$2,620
30	$14,656	$7,320	$7,336

Expense ratio

0.76%DEED
0.36%FSEC, cheaper

FSEC0.36%DEED0.76%

0.21%0.80%

Middle half of Core Securitized Bond funds
Median 0.38%

FSEC 5th cheapest of 10 funds

DEED 9th cheapest of 10 funds

DEED vs FSEC Dividends

Last 12 months to Nov 9, 2026

Yield (12M): DEED 4.74%, better; FSEC 4.54%
Payout (12M): DEED $0.99; FSEC $1.95
Last payment: DEED $0.09; FSEC $0.14
Ex-dividend: DEED Oct 21, 2026; FSEC Oct 29, 2026
Paid on: DEED Oct 30, 2026; FSEC Nov 2, 2026
Frequency: DEED Monthly; FSEC Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DEEDMonthly · 46 paymentsAll DEED payments⁠

FSECMonthly · 47 paymentsAll FSEC payments⁠

DEED vs FSEC Risk

Fall from peak · 5 years

DEED
FSEC

Risk facts

VolatilityStd dev, 3 years: DEED 6.9%FSEC 6.3%, better
Return per unit of riskSharpe ratio, 3 years: DEED 0.41, betterFSEC 0.36
Worst fallMax drawdown, 5 years: DEED −19.7%FSEC −17.3%, better
Market sensitivityBeta, 5 years: DEED 1.23FSEC 1.14; Market = 1

Popular comparisons

DEEDCvsJMBSA
First Trust Securitized Plus ETF · Janus Henderson Mortgage-Backed Securities ETF
Expense ratio
0.76% · 0.21%
Category
FSECBvsJMBSA
FIDELITY INVESTMENT GRADE SECURITIZED ETF · Janus Henderson Mortgage-Backed Securities ETF
Expense ratio
0.36% · 0.21%
Category
DEEDCvsJPLDB
First Trust Securitized Plus ETF · JPMorgan Limited Duration Bond ETF
Expense ratio
0.76% · 0.30%
Category
FSECBvsJPLDB
FIDELITY INVESTMENT GRADE SECURITIZED ETF · JPMorgan Limited Duration Bond ETF
Expense ratio
0.36% · 0.30%
Category
DEEDCvsSECRB
First Trust Securitized Plus ETF · NYLI MacKay Securitized Income ETF
Expense ratio
0.76% · 0.28%
Category
FSECBvsSECRB
FIDELITY INVESTMENT GRADE SECURITIZED ETF · NYLI MacKay Securitized Income ETF
Expense ratio
0.36% · 0.28%
Category