We have qualitatively reviewed this strategy and reaffirmed its Average Process and People ratings. The following text is from July 24, 2023. First Trust Tactical High Yield ETF benefits from an experienced team, but recent turnover coupled with the team’s use of leverage and its above-average risk bias mean it doesn’t stand out from peers.
First Trust Tactical High Yield ETF HYLS
Morningstar’s Analysis HYLS
Will HYLS outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 16.3
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
Morgan Stanley Instl Lqudty Trs Instl | 6.40 | 102.6 Mil | Cash and Equivalents |
SS&C Technologies, Inc. 5.5% | 2.43 | 38.9 Mil | Corporate |
United Rentals (North America), Inc. 6% | 2.01 | 32.2 Mil | Corporate |
Graham Packaging Company Inc 7.125% | 1.98 | 31.8 Mil | Corporate |
1011778 B.C. Unlimited Liability Company / New Red Finance, Inc. 4% | 1.93 | 30.9 Mil | Corporate |
Select Medical Corporation 6.25% | 1.67 | 26.7 Mil | Corporate |
Open Text Corp 6.9% | 1.48 | 23.7 Mil | Corporate |
Milano Acquisition Corp Milacq Tl 08/17/27 | 1.25 | 20.0 Mil | Corporate |
Go Daddy Operating Company LLC / GD Finance Co Inc 3.5% | 1.24 | 19.9 Mil | Corporate |
Clarios Global LP 8.5% | 1.20 | 19.3 Mil | Corporate |