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ETFs

First Trust Exchange-Traded Fund III First Trust California Municipal High Income ETF

FCAL
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Jun 21 2017
Expense Ratio
0.50%
Type
US Bonds
Fund Owner
First Trust
Volume (1m avg. daily)
$596,642
AUM
$148,087,095
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
Derivatives offset
7.49%
n/a
US Dollar
1.86%
n/a
UNIV OF CALIFORNIA CA REVENUES 5% due 05/15/2042
1.48%
n/a
IRVINE CA SPL TAX 5.25% due 09/01/2053
1.47%
n/a
CALIFORNIA CMNTY CHOICE FING AUTH Variable rate due 02/01/2052
1.46%
n/a
SAN FRANCISCO CALIF CITY & CNTY APRTS COMMN 5% due 05/01/2034
1.45%
n/a
IRVINE CA FACS FING AUTH LEASE REV 5.25% due 05/01/2048
1.40%
n/a
CALIFORNIA ST POLL CONTROL FIN AUTH Variable rate due 08/01/2024
1.19%
n/a
SAN DIEGO CA UNIF SCH DIST 5% due 07/01/2042
1.10%
n/a
CALIFORNIA ST MUNI FIN AUTH REV 5% due 11/15/2042
1.07%
Invest with FCAL

What is FCAL?

The First Trust California Municipal High Income ETFs primary investment objective will be to seek to provide current income that is exempt from regular federal income taxes and California income taxes, and its secondary objective will be long-term capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes and California income taxes (collectively, "Municipal Securities").

ETFs related toFCAL

ETFs correlated to FCAL include CGMU, MMIN, SCMB

FCAL
First Trust Exchange-Traded Fund III - First Trust California Municipal High Income ETF
CGMU
Capital Group Fixed Income ETF Trust - Capital Group Municipal Income ETF
MMIN
IndexIQ Active ETF Trust - IQ MacKay Municipal Insured ETF
SCMB
Schwab Strategic Trust - Schwab Municipal Bond ETF
IBMQ
iShares Trust - iShares iBonds Dec 2028 Term Muni Bond ETF
JMUB
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Municipal ETF
NYF
BlackRock Institutional Trust Company N.A. - iShares New York Muni Bond ETF
TAXF
American Century ETF Trust - American Century Diversified Municipal Bond ETF
MMIT
IndexIQ Active ETF Trust - IQ MacKay Municipal Intermediate ETF
VTEB
Vanguard Group, Inc. - Vanguard Tax-Exempt Bond ETF
FMB
First Trust Exchange-Traded Fund III - First Trust Managed Municipal ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

FCAL is a US Bonds ETF. The First Trust California Municipal High Income ETFs primary investment objective will be to seek to provide current income that is exempt from regular federal income taxes and California income taxes, and its secondary objective will be long-term capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes and California income taxes (collectively, "Municipal Securities").

Yes, FCAL is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, FCAL is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FCAL is -0.012%. This is the percent change in the value of FCAL over the most recent 1-month period. The 3-month return on FCAL is -0.0219%. This is the percent change in the value of FCAL over the most recent 3-month period.

The standard deviation of FCAL for the past year is 0.0471%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FCAL include SUB, HYD, and CMF.

ETFs correlated to FCAL include CGMU, MMIN, and SCMB.

ETFs that are inversely correlated to FCAL include TMV, TBT, and TBF.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.