UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-22717
First Trust Exchange-Traded Fund VI |
(Exact name of registrant as specified in charter) |
120 East Liberty Drive, Suite 400 Wheaton, IL 60187 |
(Address of principal executive offices) |
W. Scott Jardine, Esq. First Trust Portfolios L.P. 120 East Liberty Drive, Suite 400 Wheaton, IL 60187 |
(Name and address of agent for service) |
Registrant’s telephone number, including area code: (630) 765-8000
Date of fiscal year end: March 31
Date of reporting period: March 31, 2022
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Report to Stockholders.
(a) | The registrant’s annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows: |
First Trust Nasdaq Bank ETF (FTXO)
First Trust Nasdaq Food & Beverage ETF (FTXG)
First Trust Nasdaq Oil & Gas ETF (FTXN)
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
First Trust S-Network E-Commerce ETF (ISHP) (formerly known as First Trust Nasdaq Retail ETF)
First Trust Nasdaq Semiconductor ETF (FTXL)
First Trust Nasdaq Transportation ETF (FTXR)
First Trust S-Network Streaming & Gaming ETF (BNGE)
For the Year Ended
March 31, 2022
2 | |
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Fund Performance Overview | |
4 | |
6 | |
8 | |
10 | |
12 | |
14 | |
16 | |
18 | |
20 | |
21 | |
Portfolio of Investments | |
23 | |
24 | |
25 | |
26 | |
27 | |
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30 | |
32 | |
34 | |
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42 | |
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59 | |
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66 | |
68 |
Performance | ||||||
Average Annual Total Returns | Cumulative Total Returns | |||||
1 Year Ended 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | ||
Fund Performance | ||||||
NAV | 3.89% | 6.79% | 11.27% | 38.89% | 80.40% | |
Market Price | 3.99% | 6.79% | 11.28% | 38.87% | 80.52% | |
Index Performance | ||||||
Nasdaq US Smart Banks IndexTM | 4.59% | 7.51% | 12.03% | 43.60% | 87.30% | |
NASDAQ US Benchmark Banks Index | 2.21% | 8.43% | 13.03% | 49.86% | 96.79% | |
NASDAQ US Benchmark Index | 12.05% | 15.53% | 16.29% | 105.85% | 130.25% |
Sector Allocation | % of Total Investments |
Financials | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Zions Bancorp N.A. | 8.1% |
Wells Fargo & Co. | 7.9 |
KeyCorp | 7.8 |
Popular, Inc. | 7.8 |
Citizens Financial Group, Inc. | 7.6 |
JPMorgan Chase & Co. | 4.2 |
Comerica, Inc. | 4.1 |
Bank of America Corp. | 4.1 |
Synovus Financial Corp. | 4.1 |
M&T Bank Corp. | 4.1 |
Total | 59.8% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | ||||||
Average Annual Total Returns | Cumulative Total Returns | |||||
1 Year Ended 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | ||
Fund Performance | ||||||
NAV | 7.13% | 7.12% | 7.16% | 41.02% | 46.54% | |
Market Price | 5.72% | 7.13% | 7.19% | 41.09% | 46.75% | |
Index Performance | ||||||
Nasdaq US Smart Food & Beverage IndexTM | 7.79% | 7.81% | 7.85% | 45.62% | 51.86% | |
NASDAQ US Benchmark Food, Beverage and Tobacco Index | 12.23% | 9.36% | 9.16% | 56.42% | 62.33% | |
NASDAQ US Benchmark Index | 12.05% | 15.53% | 16.29% | 105.85% | 130.25% |
Sector Allocation | % of Total Investments |
Consumer Staples | 95.7% |
Materials | 4.3 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Archer-Daniels-Midland Co. | 9.0% |
Bunge Ltd. | 8.3 |
Tyson Foods, Inc., Class A | 7.6 |
Hershey (The) Co. | 6.5 |
Conagra Brands, Inc. | 5.9 |
Corteva, Inc. | 4.3 |
McCormick & Co., Inc. | 4.1 |
PepsiCo, Inc. | 4.0 |
Hostess Brands, Inc. | 4.0 |
Kellogg Co. | 3.9 |
Total | 57.6% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | ||||||
Average Annual Total Returns | Cumulative Total Returns | |||||
1 Year Ended 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | ||
Fund Performance | ||||||
NAV | 73.19% | 7.10% | 7.30% | 40.89% | 47.58% | |
Market Price | 73.07% | 7.10% | 7.30% | 40.90% | 47.59% | |
Index Performance | ||||||
Nasdaq US Smart Oil & Gas IndexTM | 74.64% | 7.83% | 8.01% | 45.80% | 53.10% | |
NASDAQ US Benchmark Energy Index | 59.92% | 6.54% | 7.03% | 37.27% | 45.54% | |
NASDAQ US Benchmark Index | 12.05% | 15.53% | 16.29% | 105.85% | 130.25% |
Sector Allocation | % of Total Investments |
Energy | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Chevron Corp. | 7.2% |
Marathon Oil Corp. | 6.4 |
Williams (The) Cos., Inc. | 6.1 |
ConocoPhillips | 6.0 |
Devon Energy Corp. | 5.7 |
Occidental Petroleum Corp. | 4.5 |
APA Corp. | 4.1 |
Targa Resources Corp. | 4.0 |
Chesapeake Energy Corp. | 3.9 |
Marathon Petroleum Corp. | 3.8 |
Total | 51.7% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | ||||||
Average Annual Total Returns | Cumulative Total Returns | |||||
1 Year Ended 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | ||
Fund Performance | ||||||
NAV | 5.39% | 7.33% | 6.40% | 42.44% | 40.87% | |
Market Price | 5.15% | 7.29% | 6.36% | 42.18% | 40.61% | |
Index Performance | ||||||
Nasdaq US Smart Pharmaceuticals IndexTM | 6.13% | 8.04% | 7.10% | 47.18% | 46.06% | |
NASDAQ US Benchmark Pharmaceuticals Index | 23.69% | 14.04% | 13.41% | 92.89% | 100.43% | |
NASDAQ US Benchmark Index | 12.05% | 15.53% | 16.29% | 105.85% | 130.25% |
Sector Allocation | % of Total Investments |
Health Care | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
AbbVie, Inc. | 8.3% |
Johnson & Johnson | 8.2 |
Bristol-Myers Squibb Co. | 8.1 |
Cardinal Health, Inc. | 8.0 |
Gilead Sciences, Inc. | 7.5 |
Ironwood Pharmaceuticals, Inc. | 4.4 |
Eli Lilly & Co. | 4.4 |
Vertex Pharmaceuticals, Inc. | 4.3 |
Pfizer, Inc. | 4.2 |
Merck & Co., Inc. | 4.1 |
Total | 61.5% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | ||||||
Average Annual Total Returns | Cumulative Total Returns | |||||
1 Year Ended 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | ||
Fund Performance | ||||||
NAV | -0.94% | 10.62% | 9.47% | 65.62% | 64.88% | |
Market Price | -1.13% | 10.57% | 9.47% | 65.24% | 64.88% | |
Index Performance | ||||||
S-Network Global E-Commerce Index(1)(2) | N/A | N/A | N/A | N/A | N/A | |
MSCI ACWI Index(3) | 7.28% | 11.64% | 12.33% | 73.43% | 90.11% | |
Nasdaq US Smart Retail Index | 9.07% | 13.35% | 11.98% | 87.08% | 86.85% | |
NASDAQ US Benchmark Retail Index | 6.35% | 19.45% | 18.87% | 143.19% | 159.93% | |
NASDAQ US Benchmark Index | 12.05% | 15.53% | 16.29% | 105.85% | 130.25% |
(1) | On January 26, 2022, the Fund’s underlying index changed from the NASDAQ US Smart Retail Index to the S-Network Global E-Commerce Index. Therefore, performance and historical returns shown for the periods prior to January 26, 2022, are not necessarily indicative of the performance of the Fund, based on its current Index, would have generated. |
(2) | Because the Fund’s new underlying Index had an inception date of April 30, 2021, performance data is not available for all the periods shown in the table for the Index because performance data does not exist for some of the entire periods. |
(3) | The MSCI ACWI Index will serve as the Fund’s new primary benchmark index. The Fund’s investment advisor has determined that the MSCI ACWI Index provides a more appropriate comparison to Fund returns. |
Sector Allocation | % of Total Investments |
Consumer Discretionary | 39.0% |
Communication Services | 22.3 |
Industrials | 18.6 |
Information Technology | 9.9 |
Real Estate | 5.0 |
Consumer Staples | 3.4 |
Financials | 1.8 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
ZoomInfo Technologies, Inc. | 2.3% |
Union Pacific Corp. | 2.2 |
Canadian National Railway Co. | 2.2 |
Lululemon Athletica, Inc. | 2.2 |
Expedia Group, Inc. | 2.1 |
MercadoLibre, Inc. | 2.1 |
Prologis, Inc. | 2.1 |
Airbnb, Inc., Class A | 2.1 |
Walmart, Inc. | 2.0 |
CSX Corp. | 2.0 |
Total | 21.3% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | ||||||
Average Annual Total Returns | Cumulative Total Returns | |||||
1 Year Ended 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | ||
Fund Performance | ||||||
NAV | 8.46% | 23.59% | 26.28% | 188.29% | 263.03% | |
Market Price | 8.55% | 23.61% | 26.31% | 188.55% | 263.49% | |
Index Performance | ||||||
Nasdaq US Smart Semiconductor IndexTM | 9.16% | 24.38% | 27.10% | 197.65% | 276.32% | |
NASDAQ US Benchmark Semiconductors Index | 26.06% | 28.11% | 28.49% | 245.06% | 299.60% | |
NASDAQ US Benchmark Index | 12.05% | 15.53% | 16.29% | 105.85% | 130.25% |
Sector Allocation | % of Total Investments |
Information Technology | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Broadcom, Inc. | 8.6% |
Intel Corp. | 8.3 |
Texas Instruments, Inc. | 6.8 |
Micron Technology, Inc. | 5.7 |
QUALCOMM, Inc. | 5.3 |
II-VI, Inc. | 4.2 |
ON Semiconductor Corp. | 4.0 |
KLA Corp. | 3.6 |
Analog Devices, Inc. | 3.5 |
Skyworks Solutions, Inc. | 3.1 |
Total | 53.1% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | ||||||
Average Annual Total Returns | Cumulative Total Returns | |||||
1 Year Ended 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | 5 Years Ended 3/31/22 | Inception (9/20/16) to 3/31/22 | ||
Fund Performance | ||||||
NAV | -0.53% | 8.43% | 10.35% | 49.86% | 72.30% | |
Market Price | -0.56% | 8.40% | 10.35% | 49.71% | 72.35% | |
Index Performance | ||||||
Nasdaq US Smart Transportation IndexTM | -0.46% | 8.96% | 10.90% | 53.55% | 77.15% | |
NASDAQ US Benchmark Industrial Transportation Index | 13.21% | 18.20% | 19.52% | 130.69% | 167.93% | |
NASDAQ US Benchmark Index | 12.05% | 15.53% | 16.29% | 105.85% | 130.25% |
Sector Allocation | % of Total Long-Term Investments |
Industrials | 75.2% |
Consumer Discretionary | 24.8 |
Total | 100.0% |
Top Ten Holdings | % of Total Long-Term Investments |
Union Pacific Corp. | 8.7% |
CSX Corp. | 8.2 |
JB Hunt Transport Services, Inc. | 7.7 |
PACCAR, Inc. | 7.5 |
Ford Motor Co. | 6.6 |
CH Robinson Worldwide, Inc. | 4.4 |
Norfolk Southern Corp. | 4.3 |
United Rentals, Inc. | 4.3 |
FedEx Corp. | 4.1 |
United Parcel Service, Inc., Class B | 4.0 |
Total | 59.8% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | ||
Cumulative Total Returns | ||
Inception (1/25/22) to 3/31/22 | ||
Fund Performance | ||
NAV | -4.81% | |
Market Price | -4.28% | |
Index Performance | ||
S-Network Streaming & Gaming Index | -4.13% | |
MSCI ACWI Index | 1.98% |
Sector Allocation | % of Total Investments |
Communication Services | 56.3% |
Consumer Discretionary | 26.3 |
Information Technology | 17.4 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Activision Blizzard, Inc. | 6.5% |
NVIDIA Corp. | 5.3 |
Nintendo Co., Ltd. | 5.2 |
Electronic Arts, Inc. | 5.1 |
Intel Corp. | 4.7 |
NetEase, Inc., ADR | 4.6 |
Walt Disney (The) Co. | 4.6 |
Advanced Micro Devices, Inc. | 4.3 |
Sony Group Corp. | 4.3 |
Tencent Holdings Ltd. | 3.9 |
Total | 48.5% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Beginning Account Value October 1, 2021 | Ending Account Value March 31, 2022 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
First Trust Nasdaq Bank ETF (FTXO) | ||||
Actual | $1,000.00 | $983.60 | 0.60% | $2.97 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Food & Beverage ETF (FTXG) | ||||
Actual | $1,000.00 | $1,130.40 | 0.60% | $3.19 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Oil & Gas ETF (FTXN) | ||||
Actual | $1,000.00 | $1,402.60 | 0.60% | $3.59 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | ||||
Actual | $1,000.00 | $1,050.90 | 0.60% | $3.07 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust S-Network E-Commerce ETF (ISHP) | ||||
Actual | $1,000.00 | $911.90 | 0.60% | $2.86 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
First Trust Nasdaq Semiconductor ETF (FTXL) | ||||
Actual | $1,000.00 | $1,041.60 | 0.60% | $3.05 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
Beginning Account Value October 1, 2021 | Ending Account Value March 31, 2022 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
First Trust Nasdaq Transportation ETF (FTXR) | ||||
Actual | $1,000.00 | $1,056.00 | 0.60% | $3.08 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
Beginning Account Value January 25, 2022 | Ending Account Value March 31, 2022 | Annualized Expense Ratio Based on the Number of Days In the Period | Expenses Paid During the Period January 25, 2022 (b) to March 31, 2022 (c) | |
First Trust S-Network Streaming & Gaming ETF (BNGE) | ||||
Actual | $1,000.00 | $951.90 | 0.70% | $1.24 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.44 | 0.70% | $3.53 |
(a) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (October 1, 2021 through March 31, 2022), multiplied by 182/365 (to reflect the six-month period). |
(b) | Inception date. |
(c) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (January 25, 2022 through March 31, 2022), multiplied by 66/365 (to reflect the six-month period). Hypothetical expenses are assumed for the most recent six-month period. |
Shares | Description | Value | ||
COMMON STOCKS – 99.8% | ||||
Banks – 95.0% | ||||
357,312 | Bank of America Corp. | $14,728,401 | ||
266,640 | Citigroup, Inc. | 14,238,576 | ||
602,566 | Citizens Financial Group, Inc. | 27,314,317 | ||
165,390 | Comerica, Inc. | 14,956,218 | ||
100,481 | Cullen/Frost Bankers, Inc. | 13,907,575 | ||
39,553 | East West Bancorp, Inc. | 3,125,478 | ||
330,127 | Fifth Third Bancorp | 14,208,666 | ||
4,391 | First Citizens BancShares, Inc., Class A | 2,922,649 | ||
19,992 | First Republic Bank | 3,240,703 | ||
223,164 | Huntington Bancshares, Inc. | 3,262,658 | ||
111,374 | JPMorgan Chase & Co. | 15,182,504 | ||
1,259,931 | KeyCorp | 28,197,256 | ||
86,666 | M&T Bank Corp. | 14,689,887 | ||
863,961 | Old National Bancorp | 14,151,681 | ||
34,263 | Pinnacle Financial Partners, Inc. | 3,154,937 | ||
79,265 | PNC Financial Services Group (The), Inc. | 14,620,429 | ||
343,891 | Popular, Inc. | 28,109,650 | ||
652,885 | Regions Financial Corp. | 14,533,220 | ||
10,042 | Signature Bank | 2,947,226 | ||
27,044 | Silvergate Capital Corp., Class A (a) | 4,072,015 | ||
5,715 | SVB Financial Group (a) | 3,197,257 | ||
299,968 | Synovus Financial Corp. | 14,698,432 | ||
55,664 | Truist Financial Corp. | 3,156,149 | ||
132,133 | US Bancorp | 7,022,869 | ||
57,522 | Webster Financial Corp. | 3,228,135 | ||
591,841 | Wells Fargo & Co. | 28,680,615 | ||
36,948 | Western Alliance Bancorp | 3,060,033 | ||
445,569 | Zions Bancorp N.A. | 29,211,504 | ||
343,819,040 | ||||
Consumer Finance – 3.9% | ||||
127,942 | Discover Financial Services | 14,097,929 | ||
Thrifts & Mortgage Finance – 0.9% | ||||
300,127 | New York Community Bancorp, Inc. | 3,217,361 | ||
Total Investments – 99.8% | 361,134,330 | |||
(Cost $366,326,636) | ||||
Net Other Assets and Liabilities – 0.2% | 802,259 | |||
Net Assets – 100.0% | $361,936,589 |
(a) | Non-income producing security. |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 361,134,330 | $ 361,134,330 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.9% | ||||
Beverages – 18.7% | ||||
328 | Boston Beer (The) Co., Inc., Class A (a) | $127,418 | ||
1,928 | Brown-Forman Corp., Class B | 129,215 | ||
1,969 | Celsius Holdings, Inc. (a) | 108,649 | ||
6,798 | Coca-Cola (The) Co. | 421,476 | ||
583 | Constellation Brands, Inc., Class A | 134,276 | ||
10,941 | Keurig Dr. Pepper, Inc. | 414,664 | ||
2,410 | Molson Coors Beverage Co., Class B | 128,646 | ||
1,490 | Monster Beverage Corp. (a) | 119,051 | ||
2,584 | PepsiCo, Inc. | 432,510 | ||
2,015,905 | ||||
Chemicals – 4.3% | ||||
8,131 | Corteva, Inc. | 467,370 | ||
Food & Staples Retailing – 1.1% | ||||
3,218 | US Foods Holding Corp. (a) | 121,093 | ||
Food Products – 74.8% | ||||
10,785 | Archer-Daniels-Midland Co. | 973,454 | ||
2,689 | Beyond Meat, Inc. (a) | 129,906 | ||
8,093 | Bunge Ltd. | 896,785 | ||
9,408 | Campbell Soup Co. | 419,315 | ||
19,043 | Conagra Brands, Inc. | 639,273 | ||
1,736 | Darling Ingredients, Inc. (a) | 139,540 | ||
1,321 | Freshpet, Inc. (a) | 135,587 | ||
6,274 | General Mills, Inc. | 424,875 | ||
3,264 | Hershey (The) Co. | 707,080 | ||
2,640 | Hormel Foods Corp. | 136,066 | ||
19,640 | Hostess Brands, Inc. (a) | 430,902 | ||
3,139 | JM Smucker (The) Co. | 425,052 | ||
6,616 | Kellogg Co. | 426,666 | ||
10,786 | Kraft Heinz (The) Co. | 424,860 | ||
1,894 | Lamb Weston Holdings, Inc. | 113,470 | ||
4,446 | McCormick & Co., Inc. | 443,711 | ||
6,461 | Mondelez International, Inc., Class A | 405,622 | ||
9,131 | Tyson Foods, Inc., Class A | 818,411 | ||
8,090,575 | ||||
Personal Products – 1.0% | ||||
3,536 | Herbalife Nutrition Ltd. (a) | 107,353 | ||
Total Investments – 99.9% | 10,802,296 | |||
(Cost $10,007,726) | ||||
Net Other Assets and Liabilities – 0.1% | 8,187 | |||
Net Assets – 100.0% | $10,810,483 |
(a) | Non-income producing security. |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 10,802,296 | $ 10,802,296 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.8% | ||||
Energy Equipment & Services – 2.9% | ||||
87,637 | Baker Hughes Co. | $3,190,863 | ||
120,258 | ChampionX Corp. (a) | 2,943,916 | ||
401,179 | Halliburton Co. | 15,192,649 | ||
71,067 | Helmerich & Payne, Inc. | 3,040,246 | ||
150,134 | NOV, Inc. | 2,944,128 | ||
65,613 | Schlumberger N.V. | 2,710,473 | ||
727,335 | Transocean Ltd. (a) | 3,323,921 | ||
33,346,196 | ||||
Oil, Gas & Consumable Fuels – 96.9% | ||||
256,449 | Antero Midstream Corp. | 2,787,601 | ||
112,284 | Antero Resources Corp. (a) | 3,428,030 | ||
1,122,776 | APA Corp. | 46,404,332 | ||
45,682 | Callon Petroleum Co. (a) | 2,698,893 | ||
1,180,397 | Centennial Resource Development, Inc./DE, Class A (a) | 9,525,804 | ||
220,934 | Cheniere Energy, Inc. | 30,632,499 | ||
517,860 | Chesapeake Energy Corp. | 45,053,820 | ||
506,120 | Chevron Corp. | 82,411,520 | ||
51,015 | Civitas Resources, Inc. | 3,046,106 | ||
157,573 | CNX Resources Corp. (a) | 3,264,913 | ||
686,332 | ConocoPhillips | 68,633,200 | ||
110,365 | Coterra Energy, Inc. | 2,976,544 | ||
35,435 | Denbury, Inc. (a) | 2,784,128 | ||
1,110,585 | Devon Energy Corp. | 65,668,891 | ||
179,839 | Diamondback Energy, Inc. | 24,652,330 | ||
348,103 | EOG Resources, Inc. | 41,504,321 | ||
111,272 | EQT Corp. | 3,828,869 | ||
401,682 | Equitrans Midstream Corp. | 3,390,196 | ||
417,625 | Exxon Mobil Corp. | 34,491,649 | ||
25,481 | Hess Corp. | 2,727,486 | ||
84,554 | HF Sinclair Corp. (a) | 3,369,477 | ||
2,299,107 | Kinder Morgan, Inc. | 43,476,113 | ||
6,049,057 | Kosmos Energy Ltd. (a) | 43,492,720 | ||
33,629 | Laredo Petroleum, Inc. (a) | 2,661,399 | ||
2,898,627 | Marathon Oil Corp. | 72,784,524 | ||
513,731 | Marathon Petroleum Corp. | 43,924,000 | ||
806,544 | Matador Resources, Co. | 42,730,701 | ||
674,957 | Murphy Oil Corp. | 27,261,513 | ||
914,808 | Occidental Petroleum Corp. | 51,906,206 | ||
384,335 | ONEOK, Inc. | 27,145,581 | ||
421,658 | Ovintiv, Inc. | 22,799,048 | ||
154,917 | PBF Energy, Inc., Class A (a) | 3,775,327 | ||
368,671 | PDC Energy, Inc. | 26,795,008 | ||
30,567 | Phillips 66 | 2,640,683 | ||
148,801 | Pioneer Natural Resources Co. | 37,204,714 | ||
112,194 | Range Resources Corp. (a) | 3,408,454 | ||
181,172 | SM Energy Co. | 7,056,649 | ||
515,987 | Southwestern Energy Co. (a) | 3,699,627 | ||
611,969 | Targa Resources Corp. | 46,185,300 | ||
675,796 | Tellurian, Inc. (a) | 3,581,719 | ||
30,828 | Valero Energy Corp. | 3,130,275 |
Shares | Description | Value | ||
Oil, Gas & Consumable Fuels (Continued) | ||||
534,816 | Whiting Petroleum Corp. | $43,592,852 | ||
2,084,394 | Williams (The) Cos., Inc. | 69,639,604 | ||
1,112,172,626 | ||||
Total Investments – 99.8% | 1,145,518,822 | |||
(Cost $980,129,753) | ||||
Net Other Assets and Liabilities – 0.2% | 2,112,150 | |||
Net Assets – 100.0% | $1,147,630,972 |
(a) | Non-income producing security. |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 1,145,518,822 | $ 1,145,518,822 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.9% | ||||
Biotechnology – 40.8% | ||||
8,893 | AbbVie, Inc. | $1,441,644 | ||
9,912 | Alkermes PLC (a) | 260,785 | ||
2,901 | Amgen, Inc. | 701,520 | ||
3,154 | BioMarin Pharmaceutical, Inc. (a) | 243,173 | ||
4,069 | Blueprint Medicines Corp. (a) | 259,928 | ||
5,955 | Emergent BioSolutions, Inc. (a) | 244,512 | ||
21,757 | Gilead Sciences, Inc. | 1,293,454 | ||
2,703 | Horizon Therapeutics PLC (a) | 284,383 | ||
7,382 | Ionis Pharmaceuticals, Inc. (a) | 273,429 | ||
61,066 | Ironwood Pharmaceuticals, Inc. (a) | 768,210 | ||
1,912 | Seagen, Inc. (a) | 275,424 | ||
1,483 | United Therapeutics Corp. (a) | 266,065 | ||
2,857 | Vertex Pharmaceuticals, Inc. (a) | 745,591 | ||
7,058,118 | ||||
Health Care Providers & Services – 8.0% | ||||
24,331 | Cardinal Health, Inc. | 1,379,568 | ||
Pharmaceuticals – 51.1% | ||||
19,137 | Bristol-Myers Squibb Co. | 1,397,575 | ||
2,415 | Catalent, Inc. (a) | 267,823 | ||
11,054 | Corcept Therapeutics, Inc. (a) | 248,936 | ||
8,673 | Elanco Animal Health, Inc. (a) | 226,279 | ||
2,629 | Eli Lilly & Co. | 752,867 | ||
79,228 | Endo International PLC (a) | 183,017 | ||
1,793 | Jazz Pharmaceuticals PLC (a) | 279,116 | ||
7,985 | Johnson & Johnson | 1,415,182 | ||
8,580 | Merck & Co., Inc. | 703,989 | ||
6,601 | Organon & Co. | 230,573 | ||
3,695 | Pacira BioSciences, Inc. (a) | 282,002 | ||
6,937 | Perrigo Co. PLC | 266,589 | ||
13,998 | Pfizer, Inc. | 724,676 | ||
11,038 | Prestige Consumer Healthcare, Inc. (a) | 584,352 | ||
59,679 | Viatris, Inc. | 649,307 | ||
3,393 | Zoetis, Inc. | 639,886 | ||
8,852,169 | ||||
Total Investments – 99.9% | 17,289,855 | |||
(Cost $15,705,794) | ||||
Net Other Assets and Liabilities – 0.1% | 21,475 | |||
Net Assets – 100.0% | $17,311,330 |
(a) | Non-income producing security. |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 17,289,855 | $ 17,289,855 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 97.7% | ||||
Air Freight & Logistics – 5.3% | ||||
5,896 | Deutsche Post AG (a) | $281,545 | ||
1,436 | FedEx Corp. | 332,276 | ||
1,758 | United Parcel Service, Inc., Class B | 377,021 | ||
990,842 | ||||
Commercial Services & Supplies – 1.8% | ||||
2,672 | Copart, Inc. (b) | 335,256 | ||
Entertainment – 1.3% | ||||
2,051 | Sea Ltd., ADR (b) | 245,689 | ||
Food & Staples Retailing – 3.4% | ||||
5,564 | HelloFresh SE (a) (b) | 249,733 | ||
2,547 | Walmart, Inc. | 379,299 | ||
629,032 | ||||
Hotels, Restaurants & Leisure – 6.0% | ||||
2,231 | Airbnb, Inc., Class A (b) | 383,196 | ||
148 | Booking Holdings, Inc. (b) | 347,571 | ||
2,000 | Expedia Group, Inc. (b) | 391,340 | ||
1,122,107 | ||||
Interactive Media & Services – 21.0% | ||||
27,679 | Adevinta ASA (a) (b) | 252,687 | ||
134 | Alphabet, Inc., Class A (b) | 372,701 | ||
38,202 | Auto Trader Group PLC (a) (c) (d) | 315,368 | ||
2,430 | Baidu, Inc., ADR (b) | 321,489 | ||
2,864 | IAC/InterActiveCorp (b) | 287,202 | ||
1,132 | Meta Platforms, Inc., Class A (b) | 251,712 | ||
1,255 | NAVER Corp. (a) | 348,801 | ||
11,235 | Pinterest, Inc., Class A (b) | 276,493 | ||
3,208 | REA Group Ltd. (a) | 321,600 | ||
9,651 | Snap, Inc., Class A (b) | 347,339 | ||
9,568 | Twitter, Inc. (b) | 370,186 | ||
6,796 | Yandex N.V., Class A (a) (b) (e) (f) | 8,342 | ||
7,025 | ZoomInfo Technologies, Inc. (b) | 419,674 | ||
3,893,594 | ||||
Internet & Direct Marketing Retail – 23.9% | ||||
2,819 | Alibaba Group Holding Ltd., ADR (b) | 306,707 | ||
113 | Amazon.com, Inc. (b) | 368,374 | ||
8,034 | Chewy, Inc., Class A (b) | 327,626 | ||
16,518 | Coupang, Inc. (b) | 292,038 | ||
3,863 | Delivery Hero SE (a) (b) (c) (d) | 168,364 | ||
5,852 | eBay, Inc. | 335,085 | ||
2,221 | Etsy, Inc. (b) | 276,026 | ||
13,899 | Farfetch Ltd., Class A (b) | 210,153 |
Shares | Description | Value | ||
Internet & Direct Marketing Retail (Continued) | ||||
9,775 | JD.com, Inc, Class A (a) (b) | $277,756 | ||
12,635 | Meituan, Class B (a) (b) (c) (d) | 239,357 | ||
329 | MercadoLibre, Inc. (b) | 391,339 | ||
6,426 | Pinduoduo, Inc., ADR (b) | 257,747 | ||
4,150 | Prosus N.V. (a) | 223,801 | ||
36,900 | Rakuten Group, Inc. (a) | 290,135 | ||
2,178 | Wayfair, Inc., Class A (b) | 241,279 | ||
4,805 | Zalando SE (a) (b) (c) (d) | 243,297 | ||
4,449,084 | ||||
IT Services – 8.2% | ||||
169 | Adyen N.V. (a) (b) (c) (d) | 334,737 | ||
2,706 | Block, Inc. (b) | 366,934 | ||
3,401 | Fiserv, Inc. (b) | 344,861 | ||
2,044 | PayPal Holdings, Inc. (b) | 236,389 | ||
348 | Shopify, Inc., Class A (b) | 235,234 | ||
1,518,155 | ||||
Leisure Products – 1.6% | ||||
11,521 | Peloton Interactive, Inc., Class A (b) | 304,385 | ||
Marine – 1.6% | ||||
97 | AP Moller - Maersk A.S., Class B (a) | 291,481 | ||
Professional Services – 1.8% | ||||
5,004 | Costar Group, Inc. (b) | 333,316 | ||
Real Estate Management & Development – 2.9% | ||||
17,564 | KE Holdings, Inc., ADR (b) | 217,267 | ||
6,545 | Zillow Group, Inc., Class C (b) | 322,603 | ||
539,870 | ||||
Road & Rail – 8.1% | ||||
3,020 | Canadian National Railway Co. | 405,115 | ||
10,082 | CSX Corp. | 377,571 | ||
8,639 | Uber Technologies, Inc. (b) | 308,239 | ||
1,494 | Union Pacific Corp. | 408,176 | ||
1,499,101 | ||||
Software – 1.7% | ||||
669 | Intuit, Inc. | 321,682 | ||
Specialty Retail – 5.2% | ||||
3,609 | Best Buy Co., Inc. | 328,058 | ||
2,274 | Carvana Co. (b) | 271,266 | ||
2,488 | Williams-Sonoma, Inc. | 360,760 | ||
960,084 | ||||
Textiles, Apparel & Luxury Goods – 2.2% | ||||
1,100 | Lululemon Athletica, Inc. (b) | 401,753 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Thrifts & Mortgage Finance – 1.7% | ||||
28,907 | Rocket Cos, Inc., Class A | $321,446 | ||
Total Common Stocks | 18,156,877 | |||
(Cost $20,022,964) | ||||
REAL ESTATE INVESTMENT TRUSTS – 2.1% | ||||
Equity Real Estate Investment Trusts – 2.1% | ||||
2,416 | Prologis, Inc. | 390,136 | ||
(Cost $372,076) | ||||
Total Investments – 99.8% | 18,547,013 | |||
(Cost $20,395,040) | ||||
Net Other Assets and Liabilities – 0.2% | 39,389 | |||
Net Assets – 100.0% | $18,586,402 |
(a) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At March 31, 2022, securities noted as such are valued at $3,847,004 or 20.7% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(b) | Non-income producing security. |
(c) | This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P. (the “Advisor”). Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At March 31, 2022, securities noted as such amounted to $1,301,123 or 7.0% of net assets. |
(d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the 1933 Act. |
(e) | Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by the Advisor. |
(f) | This security’s value was determined using significant unobservable inputs (see Note 2A – Portfolio Valuation in the Notes to Financial Statements). |
ADR | American Depositary Receipt |
Currency Exposure Diversification | % of Total Investments |
United States Dollar | 77.1% |
Euro | 8.1 |
Hong Kong Dollar | 2.8 |
Canadian Dollar | 2.2 |
South Korean Won | 1.9 |
Australian Dollar | 1.7 |
British Pound Sterling | 1.7 |
Danish Krone | 1.6 |
Japanese Yen | 1.6 |
Norwegian Krone | 1.3 |
Total | 100.0% |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Air Freight & Logistics | $ 990,842 | $ 709,297 | $ 281,545 | $ — |
Food & Staples Retailing | 629,032 | 379,299 | 249,733 | — |
Interactive Media & Services | 3,893,594 | 2,646,796 | 1,238,456 | 8,342 |
Internet & Direct Marketing Retail | 4,449,084 | 3,006,374 | 1,442,710 | — |
IT Services | 1,518,155 | 1,183,418 | 334,737 | — |
Marine | 291,481 | — | 291,481 | — |
Other industry categories* | 6,384,689 | 6,384,689 | — | — |
Real Estate Investment Trusts* | 390,136 | 390,136 | — | — |
Total Investments | $ 18,547,013 | $ 14,700,009 | $ 3,838,662 | $ 8,342 |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.8% | ||||
Electronic Equipment, Instruments & Components – 6.2% | ||||
62,562 | II-VI, Inc. (a) | $4,535,119 | ||
19,734 | IPG Photonics Corp. (a) | 2,166,004 | ||
6,701,123 | ||||
Semiconductors & Semiconductor Equipment – 93.6% | ||||
20,856 | Advanced Micro Devices, Inc. (a) | 2,280,395 | ||
18,412 | Ambarella, Inc. (a) | 1,931,787 | ||
22,642 | Analog Devices, Inc. | 3,740,006 | ||
19,168 | Applied Materials, Inc. | 2,526,342 | ||
29,391 | Azenta, Inc. | 2,435,926 | ||
14,795 | Broadcom, Inc. | 9,316,116 | ||
19,714 | Entegris, Inc. | 2,587,660 | ||
182,204 | Intel Corp. | 9,030,030 | ||
10,758 | KLA Corp. | 3,938,073 | ||
4,583 | Lam Research Corp. | 2,463,867 | ||
41,078 | Lattice Semiconductor Corp. (a) | 2,503,704 | ||
37,645 | Marvell Technology, Inc. | 2,699,523 | ||
36,575 | Microchip Technology, Inc. | 2,748,246 | ||
79,157 | Micron Technology, Inc. | 6,165,539 | ||
5,608 | Monolithic Power Systems, Inc. | 2,723,693 | ||
10,549 | NVIDIA Corp. | 2,878,400 | ||
13,530 | NXP Semiconductors N.V. | 2,504,132 | ||
69,407 | ON Semiconductor Corp. (a) | 4,345,572 | ||
28,581 | Power Integrations, Inc. | 2,648,887 | ||
18,807 | Qorvo, Inc. (a) | 2,333,949 | ||
37,283 | QUALCOMM, Inc. | 5,697,588 | ||
16,735 | Silicon Laboratories, Inc. (a) | 2,513,597 | ||
12,725 | SiTime Corp. (a) | 3,153,510 | ||
25,427 | Skyworks Solutions, Inc. | 3,388,911 | ||
11,292 | Synaptics, Inc. (a) | 2,252,754 | ||
21,814 | Teradyne, Inc. | 2,579,069 | ||
39,848 | Texas Instruments, Inc. | 7,311,311 | ||
25,042 | Wolfspeed, Inc. (a) | 2,851,282 | ||
101,549,869 | ||||
Total Investments – 99.8% | 108,250,992 | |||
(Cost $107,226,769) | ||||
Net Other Assets and Liabilities – 0.2% | 199,711 | |||
Net Assets – 100.0% | $108,450,703 |
(a) | Non-income producing security. |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 108,250,992 | $ 108,250,992 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.6% | ||||
Air Freight & Logistics – 16.2% | ||||
113,042 | CH Robinson Worldwide, Inc. | $12,175,754 | ||
105,738 | Expeditors International of Washington, Inc. | 10,907,932 | ||
49,164 | FedEx Corp. | 11,376,058 | ||
51,940 | United Parcel Service, Inc., Class B | 11,139,052 | ||
45,598,796 | ||||
Airlines – 8.0% | ||||
68,977 | Alaska Air Group, Inc. (a) | 4,001,356 | ||
209,921 | American Airlines Group, Inc. (a) | 3,831,058 | ||
90,714 | Delta Air Lines, Inc. (a) | 3,589,553 | ||
237,135 | JetBlue Airways Corp. (a) | 3,545,168 | ||
82,673 | Southwest Airlines Co. (a) | 3,786,424 | ||
81,553 | United Airlines Holdings, Inc. (a) | 3,780,797 | ||
22,534,356 | ||||
Auto Components – 8.7% | ||||
27,973 | Aptiv PLC (a) | 3,348,648 | ||
233,769 | Goodyear Tire & Rubber (The) Co. (a) | 3,340,559 | ||
65,097 | Lear Corp. | 9,282,181 | ||
258,099 | Luminar Technologies, Inc. (a) (b) | 4,034,087 | ||
224,360 | QuantumScape Corp. (a) (b) | 4,484,957 | ||
24,490,432 | ||||
Automobiles – 12.3% | ||||
296,807 | Fisker, Inc. (a) (b) | 3,828,810 | ||
1,089,326 | Ford Motor Co. | 18,420,503 | ||
175,468 | General Motors Co. (a) | 7,674,970 | ||
4,159 | Tesla, Inc. (a) | 4,481,739 | ||
34,406,022 | ||||
Distributors – 3.8% | ||||
232,781 | LKQ Corp. | 10,570,585 | ||
Machinery – 9.2% | ||||
458,364 | Nikola Corp. (a) | 4,909,079 | ||
238,087 | PACCAR, Inc. | 20,968,322 | ||
25,877,401 | ||||
Road & Rail – 37.1% | ||||
612,741 | CSX Corp. | 22,947,150 | ||
107,715 | JB Hunt Transport Services, Inc. | 21,628,095 | ||
42,602 | Norfolk Southern Corp. | 12,150,942 | ||
34,802 | Old Dominion Freight Line, Inc. | 10,394,661 | ||
38,046 | Saia, Inc. (a) | 9,276,376 | ||
88,870 | Union Pacific Corp. | 24,280,173 | ||
49,825 | XPO Logistics, Inc. (a) | 3,627,260 | ||
104,304,657 |
Shares | Description | Value | ||
Trading Companies & Distributors – 4.3% | ||||
33,983 | United Rentals, Inc. (a) | $12,071,101 | ||
Total Common Stocks | 279,853,350 | |||
(Cost $292,622,727) | ||||
MONEY MARKET FUNDS – 3.0% | ||||
8,319,356 | Goldman Sachs Financial Square Treasury Obligations Fund - Institutional Class - 0.20% (c) (d) | 8,319,356 | ||
(Cost $8,319,356) | ||||
Principal Value | Description | Value | ||
REPURCHASE AGREEMENTS – 0.3% | ||||
$927,929 | BNP Paribas S.A., 0.24% (c), dated 3/31/22, due 4/1/22, with a maturity value of $927,935. Collateralized by U.S. Treasury Note, interest rate of 0.25%, due 9/30/25. The value of the collateral including accrued interest is $945,420. (d) | 927,929 | ||
(Cost $927,929) | ||||
Total Investments – 102.9% | 289,100,635 | |||
(Cost $301,870,012) | ||||
Net Other Assets and Liabilities – (2.9)% | (8,258,909) | |||
Net Assets – 100.0% | $280,841,726 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan (See Note 2E - Securities Lending in the Notes to Financial Statements). The remaining contractual maturity of all of the securities lending transactions is overnight and continuous. The aggregate value of such securities is $8,968,935 and the total value of the collateral held by the Fund is $9,247,285. |
(c) | Rate shown reflects yield as of March 31, 2022. |
(d) | This security serves as collateral for securities on loan. |
Security Lending Agency Agreement | |
Total gross amount presented on the Statements of Assets and Liabilities (1) | $8,968,935 |
Non-cash Collateral (2) | (8,968,935) |
Net Amount | $— |
(1) | The amount presented on the Statements of Assets and Liabilities, which is included in “Investments, at value,” is not offset and is shown on a gross basis. |
(2) | At March 31, 2022, the value of the collateral received from each borrower exceeded the value of the related securities loaned. This amount is disclosed on the Portfolio of Investments. |
Repurchase Agreements | |
Total gross amount presented on the Statements of Assets and Liabilities (3) | $927,929 |
Non-cash Collateral (4) | (927,929) |
Net Amount | $— |
(3) | The amount is included in “Investments, at value” on the Statements of Assets and Liabilities. |
(4) | At March 31, 2022, the value of the collateral received from each seller exceeded the value of the repurchase agreements. |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 279,853,350 | $ 279,853,350 | $ — | $ — |
Money Market Funds | 8,319,356 | 8,319,356 | — | — |
Repurchase Agreements | 927,929 | — | 927,929 | — |
Total Investments | $ 289,100,635 | $ 288,172,706 | $ 927,929 | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.5% | ||||
Australia – 4.7% | ||||
3,831 | Aristocrat Leisure Ltd. (a) | $103,981 | ||
4,407 | PointsBet Holdings Ltd. (a) (b) | 12,289 | ||
11,715 | Tabcorp Holdings Ltd. (a) | 46,674 | ||
162,944 | ||||
Cayman Islands – 16.0% | ||||
2,196 | Bilibili, Inc., ADR (b) | 56,174 | ||
2,193 | Hello Group, Inc., ADR (b) | 12,676 | ||
4,353 | iQIYI, Inc., ADR (b) | 19,763 | ||
399 | JOYY, Inc., ADR | 14,655 | ||
13,056 | Kuaishou Technology (a) (b) (c) (d) | 119,628 | ||
1,794 | NetEase, Inc., ADR | 160,904 | ||
2,928 | Tencent Holdings Ltd. (a) | 134,964 | ||
8,520 | Tencent Music Entertainment Group, ADR (b) | 41,492 | ||
560,256 | ||||
Greece – 0.5% | ||||
1,326 | OPAP S.A. (a) | 19,302 | ||
Ireland – 2.3% | ||||
690 | Flutter Entertainment PLC (a) (b) | 79,881 | ||
Isle Of Man (U.K.) – 2.2% | ||||
2,784 | Entain PLC (a) (b) | 59,636 | ||
2,076 | Playtech PLC (b) | 16,145 | ||
75,781 | ||||
Japan – 9.4% | ||||
356 | Nintendo Co., Ltd. (a) | 179,696 | ||
1,438 | Sony Group Corp. (a) | 147,935 | ||
327,631 | ||||
Luxembourg – 2.4% | ||||
567 | Spotify Technology S.A. (b) | 85,628 | ||
Malta – 1.0% | ||||
750 | Kambi Group PLC (a) (b) | 17,210 | ||
1,632 | Kindred Group PLC, SDR (a) | 17,806 | ||
35,016 | ||||
South Africa – 0.7% | ||||
2,553 | MultiChoice Group | 23,015 | ||
South Korea – 1.8% | ||||
168 | Krafton, Inc. (a) (b) | 37,848 | ||
1,554 | NHN BUGS, Corp. (a) (b) | 25,651 | ||
63,499 | ||||
Sweden – 2.8% | ||||
786 | Evolution AB (a) (c) (d) | 79,963 | ||
429 | Nordic Entertainment Group AB, Class B (a) (b) | 17,323 | ||
97,286 |
Shares | Description | Value | ||
United States – 55.7% | ||||
2,832 | Activision Blizzard, Inc. | $226,872 | ||
1,368 | Advanced Micro Devices, Inc. (b) | 149,577 | ||
4,572 | DraftKings, Inc., Class A (b) | 89,017 | ||
1,389 | Electronic Arts, Inc. | 175,722 | ||
1,482 | fuboTV, Inc. (b) | 9,737 | ||
357 | GameStop Corp., Class A (b) | 59,469 | ||
972 | iHeartMedia, Inc., Class A (b) | 18,400 | ||
3,309 | Intel Corp. | 163,994 | ||
2,199 | MGM Resorts International | 92,226 | ||
348 | Netflix, Inc. (b) | 130,357 | ||
681 | NVIDIA Corp. | 185,818 | ||
804 | Penn National Gaming, Inc. (b) | 34,106 | ||
1,884 | ROBLOX Corp., Class A (b) | 87,116 | ||
756 | Roku, Inc. (b) | 94,704 | ||
1,614 | Rush Street Interactive, Inc. (b) | 11,734 | ||
444 | Scientific Games Corp. (b) | 26,085 | ||
4,575 | Sirius XM Holdings, Inc. | 30,286 | ||
618 | Take-Two Interactive Software, Inc. (b) | 95,011 | ||
1,050 | Unity Software, Inc. (b) | 104,170 | ||
1,167 | Walt Disney (The) Co. (b) | 160,066 | ||
1,944,467 | ||||
Total Investments – 99.5% | 3,474,706 | |||
(Cost $3,645,431) | ||||
Net Other Assets and Liabilities – 0.5% | 17,151 | |||
Net Assets – 100.0% | $3,491,857 |
(a) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At March 31, 2022, securities noted as such are valued at $1,099,787 or 31.5% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(b) | Non-income producing security. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(d) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
ADR | American Depositary Receipt |
SDR | Swedish Depositary Receipt |
Currency Exposure Diversification | % of Total Investments |
United States Dollar | 67.2% |
Japanese Yen | 9.4 |
Hong Kong Dollar | 7.3 |
Australian Dollar | 4.7 |
British Pound Sterling | 4.5 |
Swedish Krona | 3.8 |
South Korean Won | 1.8 |
South African Rand | 0.7 |
Euro | 0.6 |
Total | 100.0% |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Cayman Islands | $ 560,256 | $ 305,664 | $ 254,592 | $ — |
Isle Of Man (U.K.) | 75,781 | 16,145 | 59,636 | — |
Luxembourg | 85,628 | 85,628 | — | — |
South Africa | 23,015 | 23,015 | — | — |
United States | 1,944,467 | 1,944,467 | — | — |
Other Country Categories* | 785,559 | — | 785,559 | — |
Total Investments | $ 3,474,706 | $ 2,374,919 | $ 1,099,787 | $— |
* | See Portfolio of Investments for country breakout. |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | First Trust Nasdaq Oil & Gas ETF (FTXN) | |||
ASSETS: | |||||
Investments, at value | $ 361,134,330 | $ 10,802,296 | $ 1,145,518,822 | ||
Cash | 112,828 | 5,063 | 2,453,909 | ||
Foreign currency | — | — | — | ||
Receivables: | |||||
Fund shares sold | 1,630,879 | 1,347,426 | 4,018,292 | ||
Dividends | 873,807 | 6,987 | 276,416 | ||
Dividend reclaims | — | — | — | ||
Securities lending income | — | — | — | ||
Investment securities sold | — | — | — | ||
Total Assets | 363,751,844 | 12,161,772 | 1,152,267,439 | ||
LIABILITIES: | |||||
Payables: | |||||
Investment securities purchased | 1,627,087 | 1,346,583 | 4,011,605 | ||
Investment advisory fees | 188,168 | 4,706 | 624,862 | ||
Collateral for securities on loan | — | — | — | ||
Fund shares redeemed | — | — | — | ||
Total Liabilities | 1,815,255 | 1,351,289 | 4,636,467 | ||
NET ASSETS | $361,936,589 | $10,810,483 | $1,147,630,972 | ||
NET ASSETS consist of: | |||||
Paid-in capital | $ 451,006,625 | $ 11,194,575 | $ 1,001,938,385 | ||
Par value | 114,000 | 4,000 | 433,500 | ||
Accumulated distributable earnings (loss) | (89,184,036) | (388,092) | 145,259,087 | ||
NET ASSETS | $361,936,589 | $10,810,483 | $1,147,630,972 | ||
NET ASSET VALUE, per share | $31.75 | $27.03 | $26.47 | ||
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 11,400,002 | 400,002 | 43,350,002 | ||
Investments, at cost | $366,326,636 | $10,007,726 | $980,129,753 | ||
Foreign currency, at cost (proceeds) | $— | $— | $— | ||
Securities on loan, at value | $— | $— | $— |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust S-Network E-Commerce ETF (ISHP) | First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | First Trust S-Network Streaming & Gaming ETF (BNGE) | ||||
$ 17,289,855 | $ 18,547,013 | $ 108,250,992 | $ 289,100,635 | $ 3,474,706 | ||||
1,227 | 37,258 | 228,878 | 703,605 | 14,352 | ||||
— | 1,327 | — | — | — | ||||
— | — | 3,570,002 | — | — | ||||
28,569 | 5,676 | 16,307 | 400,467 | 4,849 | ||||
287 | 4,505 | — | 79 | — | ||||
— | — | — | 239,789 | — | ||||
— | — | — | 6,434,119 | — | ||||
17,319,938 | 18,595,779 | 112,066,179 | 296,878,694 | 3,493,907 | ||||
— | — | 3,563,137 | — | — | ||||
8,608 | 9,377 | 52,339 | 333,553 | 2,050 | ||||
— | — | — | 9,247,285 | — | ||||
— | — | — | 6,456,130 | — | ||||
8,608 | 9,377 | 3,615,476 | 16,036,968 | 2,050 | ||||
$ 17,311,330 | $ 18,586,402 | $ 108,450,703 | $ 280,841,726 | $ 3,491,857 | ||||
$ 17,967,076 | $ 23,661,578 | $ 114,586,523 | $ 330,661,988 | $ 3,658,817 | ||||
6,500 | 6,000 | 15,500 | 87,000 | 1,500 | ||||
(662,246) | (5,081,176) | (6,151,320) | (49,907,262) | (168,460) | ||||
$ 17,311,330 | $ 18,586,402 | $ 108,450,703 | $ 280,841,726 | $ 3,491,857 | ||||
$26.63 | $30.98 | $69.97 | $32.28 | $23.28 | ||||
650,002 | 600,002 | 1,550,002 | 8,700,002 | 150,002 | ||||
$15,705,794 | $20,395,040 | $107,226,769 | $301,870,012 | $3,645,431 | ||||
$— | $1,328 | $— | $— | $— | ||||
$— | $— | $— | $8,968,935 | $— |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | First Trust Nasdaq Oil & Gas ETF (FTXN) | ||||
INVESTMENT INCOME: | ||||||
Dividends | $ 6,969,165 | $ 150,554 | $ 9,121,177 | |||
Interest | 44 | 2 | 241 | |||
Securities lending income (net of fees) | — | — | 147 | |||
Foreign withholding tax | (57,030) | — | — | |||
Other | — | — | 7 | |||
Total investment income | 6,912,179 | 150,556 | 9,121,572 | |||
EXPENSES: | ||||||
Investment advisory fees | 1,649,361 | 40,789 | 2,219,185 | |||
Total expenses | 1,649,361 | 40,789 | 2,219,185 | |||
NET INVESTMENT INCOME (LOSS) | 5,262,818 | 109,767 | 6,902,387 | |||
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||||||
Net realized gain (loss) on: | ||||||
Investments | (13,814,589) | (636,223) | (34,155,718) | |||
In-kind redemptions | 12,795,122 | 287,212 | 205,113,067 | |||
Foreign currency transactions | — | — | — | |||
Net realized gain (loss) | (1,019,467) | (349,011) | 170,957,349 | |||
Net change in unrealized appreciation (depreciation) on: | ||||||
Investments | (11,467,228) | 692,861 | 162,037,630 | |||
Foreign currency translation | — | — | — | |||
Net change in unrealized appreciation (depreciation) | (11,467,228) | 692,861 | 162,037,630 | |||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (12,486,695) | 343,850 | 332,994,979 | |||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $(7,223,877) | $ 453,617 | $ 339,897,366 |
(a) | Inception date is January 25, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust S-Network E-Commerce ETF (ISHP) | First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | First Trust S-Network Streaming & Gaming ETF (BNGE) (a) | |||||
$301,340 | $295,064 | $903,954 | $10,550,709 | $6,739 | |||||
2 | 3 | 90 | 209 | — | |||||
— | — | — | 6,409,215 | — | |||||
— | (5,633) | (4,404) | — | (356) | |||||
23 | 38 | — | — | — | |||||
301,365 | 289,472 | 899,640 | 16,960,133 | 6,383 | |||||
115,490 | 115,323 | 538,494 | 6,705,727 | 3,811 | |||||
115,490 | 115,323 | 538,494 | 6,705,727 | 3,811 | |||||
185,875 | 174,149 | 361,146 | 10,254,406 | 2,572 | |||||
(565,550) | (1,826,612) | (3,312,845) | (66,168,853) | — | |||||
952,877 | 2,196,897 | 18,152,551 | 84,303,108 | — | |||||
— | (10,519) | — | — | 91 | |||||
387,327 | 359,766 | 14,839,706 | 18,134,255 | 91 | |||||
444,270 | (2,624,639) | (11,810,521) | (109,717,327) | (170,725) | |||||
— | 29 | — | — | 7 | |||||
444,270 | (2,624,610) | (11,810,521) | (109,717,327) | (170,718) | |||||
831,597 | (2,264,844) | 3,029,185 | (91,583,072) | (170,627) | |||||
$1,017,472 | $(2,090,695) | $3,390,331 | $(81,328,666) | $(168,055) |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | ||||||
Year Ended 3/31/2022 | Year Ended 3/31/2021 | Year Ended 3/31/2022 | �� | Year Ended 3/31/2021 | |||
OPERATIONS: | |||||||
Net investment income (loss) | $ 5,262,818 | $ 2,496,898 | $ 109,767 | $ 37,996 | |||
Net realized gain (loss) | (1,019,467) | 18,011,029 | (349,011) | 219,178 | |||
Net change in unrealized appreciation (depreciation) | (11,467,228) | 49,898,872 | 692,861 | 819,716 | |||
Net increase (decrease) in net assets resulting from operations | (7,223,877) | 70,406,799 | 453,617 | 1,076,890 | |||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||
Investment operations | (5,155,141) | (2,495,731) | (116,496) | (37,626) | |||
SHAREHOLDER TRANSACTIONS: | |||||||
Proceeds from shares sold | 231,246,175 | 240,319,581 | 9,224,482 | 4,989,914 | |||
Cost of shares redeemed | (84,224,058) | (139,595,309) | (3,884,145) | (3,488,460) | |||
Net increase (decrease) in net assets resulting from shareholder transactions | 147,022,117 | 100,724,272 | 5,340,337 | 1,501,454 | |||
Total increase (decrease) in net assets | 134,643,099 | 168,635,340 | 5,677,458 | 2,540,718 | |||
NET ASSETS: | |||||||
Beginning of period | 227,293,490 | 58,658,150 | 5,133,025 | 2,592,307 | |||
End of period | $361,936,589 | $227,293,490 | $10,810,483 | $5,133,025 | |||
CHANGES IN SHARES OUTSTANDING: | |||||||
Shares outstanding, beginning of period | 7,300,002 | 3,750,002 | 200,002 | 150,002 | |||
Shares sold | 6,750,000 | 8,200,000 | 350,000 | 200,000 | |||
Shares redeemed | (2,650,000) | (4,650,000) | (150,000) | (150,000) | |||
Shares outstanding, end of period | 11,400,002 | 7,300,002 | 400,002 | 200,002 |
First Trust Nasdaq Oil & Gas ETF (FTXN) | First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust S-Network E-Commerce ETF (ISHP) | ||||||||
Year Ended 3/31/2022 | Year Ended 3/31/2021 | Year Ended 3/31/2022 | Year Ended 3/31/2021 | Year Ended 3/31/2022 | Year Ended 3/31/2021 | |||||
$ 6,902,387 | $ 385,232 | $ 185,875 | $ 172,248 | $ 174,149 | $ 40,918 | |||||
170,957,349 | 4,201,224 | 387,327 | 1,413,284 | 359,766 | 765,555 | |||||
162,037,630 | 5,482,034 | 444,270 | 2,106,357 | (2,624,610) | 1,880,553 | |||||
339,897,366 | 10,068,490 | 1,017,472 | 3,691,889 | (2,090,695) | 2,687,026 | |||||
(6,320,716) | (342,435) | (176,100) | (161,361) | (143,821) | (41,275) | |||||
1,655,064,859 | 37,358,049 | 2,582,284 | 20,157,542 | 36,521,440 | 8,716,861 | |||||
(877,458,299) | (17,521,673) | (5,245,253) | (10,364,671) | (25,144,637) | (5,537,780) | |||||
777,606,560 | 19,836,376 | (2,662,969) | 9,792,871 | 11,376,803 | 3,179,081 | |||||
1,111,183,210 | 29,562,431 | (1,821,597) | 13,323,399 | 9,142,287 | 5,824,832 | |||||
36,447,762 | 6,885,331 | 19,132,927 | 5,809,528 | 9,444,115 | 3,619,283 | |||||
$1,147,630,972 | $36,447,762 | $17,311,330 | $19,132,927 | $18,586,402 | $9,444,115 | |||||
2,350,002 | 850,002 | 750,002 | 300,002 | 300,002 | 200,002 | |||||
76,750,000 | 2,750,000 | 100,000 | 850,000 | 1,050,000 | 300,000 | |||||
(35,750,000) | (1,250,000) | (200,000) | (400,000) | (750,000) | (200,000) | |||||
43,350,002 | 2,350,002 | 650,002 | 750,002 | 600,002 | 300,002 |
First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | ||||||
Year Ended 3/31/2022 | Year Ended 3/31/2021 | Year Ended 3/31/2022 | Year Ended 3/31/2021 | ||||
OPERATIONS: | |||||||
Net investment income (loss) | $ 361,146 | $ 248,285 | $ 10,254,406 | $ 451,189 | |||
Net realized gain (loss) | 14,839,706 | 15,506,395 | 18,134,255 | 166,462,888 | |||
Net change in unrealized appreciation (depreciation) | (11,810,521) | 17,121,367 | (109,717,327) | 97,342,785 | |||
Net increase (decrease) in net assets resulting from operations | 3,390,331 | 32,876,047 | (81,328,666) | 264,256,862 | |||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||
Investment operations | (338,211) | (248,060) | (10,039,966) | (1,221,540) | |||
SHAREHOLDER TRANSACTIONS: | |||||||
Proceeds from shares sold | 93,443,236 | 82,131,018 | 720,128,082 | 1,605,131,373 | |||
Cost of shares redeemed | (72,200,805) | (61,955,704) | (1,419,772,038) | (797,823,739) | |||
Net increase (decrease) in net assets resulting from shareholder transactions | 21,242,431 | 20,175,314 | (699,643,956) | 807,307,634 | |||
Total increase (decrease) in net assets | 24,294,551 | 52,803,301 | (791,012,588) | 1,070,342,956 | |||
NET ASSETS: | |||||||
Beginning of period | 84,156,152 | 31,352,851 | 1,071,854,314 | 1,511,358 | |||
End of period | $108,450,703 | $84,156,152 | $280,841,726 | $1,071,854,314 | |||
CHANGES IN SHARES OUTSTANDING: | |||||||
Shares outstanding, beginning of period | 1,300,002 | 950,002 | 32,600,002 | 100,002 | |||
Shares sold | 1,300,000 | 1,500,000 | 22,150,000 | 58,950,000 | |||
Shares redeemed | (1,050,000) | (1,150,000) | (46,050,000) | (26,450,000) | |||
Shares outstanding, end of period | 1,550,002 | 1,300,002 | 8,700,002 | 32,600,002 |
(a) | Inception date is January 25, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
First Trust S-Network Streaming & Gaming ETF (BNGE) |
Period Ended 3/31/2022 (a) |
$ 2,572 |
91 |
(170,718) |
(168,055) |
(405) |
3,660,317 |
— |
3,660,317 |
3,491,857 |
— |
$3,491,857 |
— |
150,002 |
— |
150,002 |
Year Ended March 31, | |||||||||
2022 | 2021 | 2020 | 2019 | 2018 | |||||
Net asset value, beginning of period | $ 31.14 | $ 15.64 | $ 24.41 | $ 29.50 | $ 25.94 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.61 | 0.59 (a) | 0.73 | 0.84 | 0.40 | ||||
Net realized and unrealized gain (loss) | 0.61 (b) | 15.50 | (8.77) | (5.14) | 3.56 | ||||
Total from investment operations | 1.22 | 16.09 | (8.04) | (4.30) | 3.96 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.61) | (0.59) | (0.73) | (0.79) | (0.40) | ||||
Net asset value, end of period | $31.75 | $31.14 | $15.64 | $24.41 | $29.50 | ||||
Total return (c) | 3.89% | 105.13% | (33.93)% | (14.49)% | 15.35% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 361,937 | $ 227,293 | $ 58,658 | $ 168,447 | $ 1,314,444 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||
Ratio of net investment income (loss) to average net assets | 1.91% | 2.65% | 2.69% | 1.83% | 1.47% | ||||
Portfolio turnover rate (d) | 78% | 176% | 59% | 87% | 39% |
(a) | Based on average shares outstanding. |
(b) | The per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and repurchases in relation to market value fluctuation of the underlying investments. |
(c) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | |||||||||
2022 | 2021 | 2020 | 2019 | 2018 | |||||
Net asset value, beginning of period | $ 25.66 | $ 17.28 | $ 20.06 | $ 19.71 | $ 20.63 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.41 | 0.32 | 0.27 | 0.27 | 0.35 | ||||
Net realized and unrealized gain (loss) | 1.39 | 8.38 | (2.77) | 0.33 | (0.95) | ||||
Total from investment operations | 1.80 | 8.70 | (2.50) | 0.60 | (0.60) | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.43) | (0.32) | (0.28) | (0.25) | (0.32) | ||||
Net asset value, end of period | $27.03 | $25.66 | $17.28 | $20.06 | $19.71 | ||||
Total return (a) | 7.13% | 50.65% | (12.69)% | 3.13% | (2.96)% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 10,810 | $ 5,133 | $ 2,592 | $ 2,006 | $ 985 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||
Ratio of net investment income (loss) to average net assets | 1.61% | 1.44% | 1.58% | 1.55% | 1.53% | ||||
Portfolio turnover rate (b) | 77% | 131% | 59% | 108% | 76% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | |||||||||
2022 | 2021 | 2020 | 2019 | 2018 | |||||
Net asset value, beginning of period | $ 15.51 | $ 8.10 | $ 18.91 | $ 19.95 | $ 20.63 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.31 | 0.22 | 0.31 | 0.41 | 0.36 | ||||
Net realized and unrealized gain (loss) | 10.96 | 7.39 | (10.79) | (1.06) | (0.67) | ||||
Total from investment operations | 11.27 | 7.61 | (10.48) | (0.65) | (0.31) | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.31) | (0.20) | (0.32) | (0.39) | (0.33) | ||||
Return of capital | — | — | (0.01) | — | (0.04) | ||||
Total distributions | (0.31) | (0.20) | (0.33) | (0.39) | (0.37) | ||||
Net asset value, end of period | $26.47 | $15.51 | $8.10 | $18.91 | $19.95 | ||||
Total return (a) | 73.19% | 95.16% | (56.26)% | (3.27)% | (1.47)% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 1,147,631 | $ 36,448 | $ 6,885 | $ 12,294 | $ 3,991 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||
Ratio of net investment income (loss) to average net assets | 1.87% | 2.01% | 2.14% | 1.69% | 1.96% | ||||
Portfolio turnover rate (b) | 139% | 136% | 76% | 126% | 92% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | |||||||||
2022 | 2021 | 2020 | 2019 | 2018 | |||||
Net asset value, beginning of period | $ 25.51 | $ 19.36 | $ 21.50 | $ 21.14 | $ 19.83 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.27 | 0.24 | 0.18 | 0.13 | 0.17 | ||||
Net realized and unrealized gain (loss) | 1.10 | 6.14 | (2.13) | 0.35 | 1.65 | ||||
Total from investment operations | 1.37 | 6.38 | (1.95) | 0.48 | 1.82 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.25) | (0.23) | (0.19) | (0.12) | (0.17) | ||||
Net realized gain | — | — | — | — | (0.34) | ||||
Total distributions | (0.25) | (0.23) | (0.19) | (0.12) | (0.51) | ||||
Net asset value, end of period | $26.63 | $25.51 | $19.36 | $21.50 | $21.14 | ||||
Total return (a) | 5.39% | 33.00% | (9.13)% | 2.30% | 9.32% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 17,311 | $ 19,133 | $ 5,810 | $ 5,376 | $ 2,114 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||
Ratio of net investment income (loss) to average net assets | 0.97% | 1.07% | 0.85% | 0.69% | 0.80% | ||||
Portfolio turnover rate (b) | 77% | 83% | 42% | 107% | 70% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | |||||||||
2022 | 2021 | 2020 | 2019 | 2018 | |||||
Net asset value, beginning of period | $ 31.48 | $ 18.10 | $ 22.34 | $ 20.86 | $ 19.68 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.26 | 0.19 | 0.27 | 0.21 | 0.31 | ||||
Net realized and unrealized gain (loss) | (0.54) | 13.39 | (4.22) | 1.45 | 1.18 | ||||
Total from investment operations | (0.28) | 13.58 | (3.95) | 1.66 | 1.49 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.22) | (0.20) | (0.29) | (0.18) | (0.31) | ||||
Net asset value, end of period | $30.98 | $31.48 | $18.10 | $22.34 | $20.86 | ||||
Total return (a) | (0.94)% | 75.23% | (17.90)% | 7.98% | 7.63% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 18,586 | $ 9,444 | $ 3,619 | $ 8,934 | $ 1,043 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||
Ratio of net investment income (loss) to average net assets | 0.91% | 0.70% | 1.11% | 1.41% | 1.54% | ||||
Portfolio turnover rate (b) | 213% | 114% | 65% | 127% | 126% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | |||||||||
2022 | 2021 | 2020 | 2019 | 2018 | |||||
Net asset value, beginning of period | $ 64.74 | $ 33.00 | $ 31.83 | $ 32.58 | $ 25.04 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.27 | 0.23 | 0.38 | 0.25 | 0.14 | ||||
Net realized and unrealized gain (loss) | 5.22 | 31.75 | 1.18 | (0.79) | 7.54 | ||||
Total from investment operations | 5.49 | 31.98 | 1.56 | (0.54) | 7.68 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.26) | (0.24) | (0.39) | (0.21) | (0.14) | ||||
Net asset value, end of period | $69.97 | $64.74 | $33.00 | $31.83 | $32.58 | ||||
Total return (a) | 8.46% | 97.11% | 4.82% | (1.62)% | 30.77% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 108,451 | $ 84,156 | $ 31,353 | $ 30,242 | $ 47,247 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||
Ratio of net investment income (loss) to average net assets | 0.40% | 0.45% | 1.00% | 0.78% | 0.55% | ||||
Portfolio turnover rate (b) | 58% | 113% | 64% | 94% | 59% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended March 31, | |||||||||
2022 | 2021 | 2020 | 2019 | 2018 | |||||
Net asset value, beginning of period | $ 32.88 | $ 15.11 | $ 23.33 | $ 24.93 | $ 22.78 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.45 | 0.04 | 0.30 | 0.35 | 0.32 | ||||
Net realized and unrealized gain (loss) | (0.62) | 17.79 | (8.22) | (1.62) | 2.16 | ||||
Total from investment operations | (0.17) | 17.83 | (7.92) | (1.27) | 2.48 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.43) | (0.06) | (0.30) | (0.33) | (0.33) | ||||
Net asset value, end of period | $32.28 | $32.88 | $15.11 | $23.33 | $24.93 | ||||
Total return (a) | (0.53)% | 118.10% | (34.35)% | (5.11)% | 10.89% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 280,842 | $ 1,071,854 | $ 1,511 | $ 2,333 | $ 3,740 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||
Ratio of net investment income (loss) to average net assets | 0.92% | 0.10% | 1.04% | 1.38% | 1.27% | ||||
Portfolio turnover rate (b) | 43% | 129% | 89% | 108% | 78% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Period Ended 3/31/2022 (a) | |
Net asset value, beginning of period | $ 24.46 |
Income from investment operations: | |
Net investment income (loss) | 0.02 |
Net realized and unrealized gain (loss) | (1.20) |
Total from investment operations | (1.18) |
Distributions paid to shareholders from: | |
Net investment income | (0.00) (b) |
Net asset value, end of period | $23.28 |
Total return (c) | (4.81)% |
Ratios to average net assets/supplemental data: | |
Net assets, end of period (in 000’s) | $ 3,492 |
Ratio of total expenses to average net assets | 0.70% (d) |
Ratio of net investment income (loss) to average net assets | 0.47% (d) |
Portfolio turnover rate (e) | 0% |
(a) | Inception date is January 25, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Amount is less than $0.01. |
(c) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(d) | Annualized. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Fund | Index |
First Trust Nasdaq Bank ETF | Nasdaq US Smart Banks IndexTM |
First Trust Nasdaq Food & Beverage ETF | Nasdaq US Smart Food & Beverage IndexTM |
First Trust Nasdaq Oil & Gas ETF | Nasdaq US Smart Oil & Gas IndexTM |
First Trust Nasdaq Pharmaceuticals ETF | Nasdaq US Smart Pharmaceuticals IndexTM |
First Trust S-Network E-Commerce ETF | S-Network Global E-Commerce Index |
First Trust Nasdaq Semiconductor ETF | Nasdaq US Smart Semiconductor IndexTM |
First Trust Nasdaq Transportation ETF | Nasdaq US Smart Transportation IndexTM |
First Trust S-Network Streaming & Gaming ETF | S-Network Streaming & Gaming Index |
1) | the type of security; |
2) | the size of the holding; |
3) | the initial cost of the security; |
4) | transactions in comparable securities; |
5) | price quotes from dealers and/or third-party pricing services; |
6) | relationships among various securities; |
7) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
8) | an analysis of the issuer’s financial statements; and |
9) | the existence of merger proposals or tender offers that might affect the value of the security. |
1) | the value of similar foreign securities traded on other foreign markets; |
2) | ADR trading of similar securities; |
3) | closed-end fund or exchange-traded fund trading of similar securities; |
4) | foreign currency exchange activity; |
5) | the trading prices of financial products that are tied to baskets of foreign securities; |
6) | factors relating to the event that precipitated the pricing problem; |
7) | whether the event is likely to recur; and |
8) | whether the effects of the event are isolated or whether they affect entire markets, countries or regions. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
First Trust Nasdaq Bank ETF | $ 5,155,141 | $ — | $ — | ||
First Trust Nasdaq Food & Beverage ETF | 116,496 | — | — | ||
First Trust Nasdaq Oil & Gas ETF | 6,320,716 | — | — | ||
First Trust Nasdaq Pharmaceuticals ETF | 176,100 | — | — | ||
First Trust S-Network E-Commerce ETF | 143,821 | — | — | ||
First Trust Nasdaq Semiconductor ETF | 338,211 | — | — | ||
First Trust Nasdaq Transportation ETF | 10,039,966 | — | — | ||
First Trust S-Network Streaming & Gaming ETF | 405 | — | — |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
First Trust Nasdaq Bank ETF | $ 2,495,731 | $ — | $ — | ||
First Trust Nasdaq Food & Beverage ETF | 37,626 | — | — | ||
First Trust Nasdaq Oil & Gas ETF | 342,435 | — | — | ||
First Trust Nasdaq Pharmaceuticals ETF | 161,361 | — | — | ||
First Trust S-Network E-Commerce ETF | 41,275 | — | — | ||
First Trust Nasdaq Semiconductor ETF | 248,060 | — | — | ||
First Trust Nasdaq Transportation ETF | 1,221,540 | — | — |
Undistributed Ordinary Income | Accumulated Capital and Other Gain (Loss) | Net Unrealized Appreciation (Depreciation) | |||
First Trust Nasdaq Bank ETF | $ 329,822 | $ (80,781,438) | $ (8,732,420) | ||
First Trust Nasdaq Food & Beverage ETF | — | (1,052,735) | 664,643 | ||
First Trust Nasdaq Oil & Gas ETF | 624,468 | (12,848,893) | 157,483,512 | ||
First Trust Nasdaq Pharmaceuticals ETF | 21,285 | (2,169,600) | 1,486,069 | ||
First Trust S-Network E-Commerce ETF | 24,184 | (3,151,002) | (1,954,358) | ||
First Trust Nasdaq Semiconductor ETF | 45,521 | (6,130,872) | (65,969) | ||
First Trust Nasdaq Transportation ETF | 214,440 | (36,427,903) | (13,693,799) | ||
First Trust S-Network Streaming & Gaming ETF | 10,975 | — | (179,435) |
Non-Expiring Capital Loss Carryforward | |
First Trust Nasdaq Bank ETF | $ 80,781,438 |
First Trust Nasdaq Food & Beverage ETF | 1,052,735 |
First Trust Nasdaq Oil & Gas ETF | 12,848,893 |
First Trust Nasdaq Pharmaceuticals ETF | 2,169,600 |
First Trust S-Network E-Commerce ETF | 3,151,002 |
First Trust Nasdaq Semiconductor ETF | 6,130,872 |
First Trust Nasdaq Transportation ETF | 36,427,903 |
First Trust S-Network Streaming & Gaming ETF | — |
Accumulated Net Investment Income (Loss) | Accumulated Net Realized Gain (Loss) on Investments | Paid-in Capital | |||
First Trust Nasdaq Bank ETF | $ — | $ (11,750,596) | $ 11,750,596 | ||
First Trust Nasdaq Food & Beverage ETF | 3,762 | (232,143) | 228,381 | ||
First Trust Nasdaq Oil & Gas ETF | — | (184,911,468) | 184,911,468 | ||
First Trust Nasdaq Pharmaceuticals ETF | — | (793,272) | 793,272 | ||
First Trust S-Network E-Commerce ETF | (10,519) | (1,954,354) | 1,964,873 | ||
First Trust Nasdaq Semiconductor ETF | — | (17,511,520) | 17,511,520 | ||
First Trust Nasdaq Transportation ETF | — | (48,324,056) | 48,324,056 | ||
First Trust S-Network Streaming & Gaming ETF | 91 | (91) | — |
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | ||||
First Trust Nasdaq Bank ETF | $ 369,866,750 | $ 6,980,746 | $ (15,713,166) | $ (8,732,420) | |||
First Trust Nasdaq Food & Beverage ETF | 10,137,653 | 901,395 | (236,752) | 664,643 | |||
First Trust Nasdaq Oil & Gas ETF | 988,035,310 | 162,352,163 | (4,868,651) | 157,483,512 | |||
First Trust Nasdaq Pharmaceuticals ETF | 15,803,786 | 2,180,282 | (694,213) | 1,486,069 | |||
First Trust S-Network E-Commerce ETF | 20,501,400 | 711,620 | (2,666,007) | (1,954,387) | |||
First Trust Nasdaq Semiconductor ETF | 108,316,961 | 6,023,916 | (6,089,885) | (65,969) | |||
First Trust Nasdaq Transportation ETF | 302,794,434 | 5,721,742 | (19,415,541) | (13,693,799) | |||
First Trust S-Network Streaming & Gaming ETF | 3,654,148 | 78,845 | (258,287) | (179,442) |
Purchases | Sales | ||
First Trust Nasdaq Bank ETF | $ 212,636,531 | $ 212,113,783 | |
First Trust Nasdaq Food & Beverage ETF | 5,306,926 | 5,298,620 | |
First Trust Nasdaq Oil & Gas ETF | 529,870,022 | 526,508,556 | |
First Trust Nasdaq Pharmaceuticals ETF | 14,761,305 | 14,752,459 | |
First Trust S-Network E-Commerce ETF | 39,012,337 | 38,966,304 | |
First Trust Nasdaq Semiconductor ETF | 52,519,320 | 52,508,869 | |
First Trust Nasdaq Transportation ETF | 464,221,385 | 466,546,514 | |
First Trust S-Network Streaming & Gaming ETF | 170,818 | — | |
Purchases | Sales | ||
First Trust Nasdaq Bank ETF | $ 230,570,235 | $ 84,002,642 | |
First Trust Nasdaq Food & Beverage ETF | 9,202,719 | 3,873,418 | |
First Trust Nasdaq Oil & Gas ETF | 1,650,425,456 | 874,932,692 | |
First Trust Nasdaq Pharmaceuticals ETF | 2,578,347 | 5,237,651 | |
First Trust S-Network E-Commerce ETF | 36,423,106 | 24,981,052 | |
First Trust Nasdaq Semiconductor ETF | 93,298,085 | 72,188,868 | |
First Trust Nasdaq Transportation ETF | 718,109,261 | 1,415,834,258 | |
First Trust S-Network Streaming & Gaming ETF | 3,474,613 | — |
Individual Funds Included in the Trust | Statements of Operations | Statements of Changes in Net Assets | Financial Highlights |
First Trust Nasdaq Bank ETF | For the year ended March 31, 2022 | For the years ended March 31, 2022 and 2021 | For the years ended March 31, 2022, 2021, 2020, 2019, and 2018. |
First Trust Nasdaq Food & Beverage ETF | |||
First Trust Nasdaq Oil & Gas ETF | |||
First Trust Nasdaq Pharmaceuticals ETF | |||
First Trust S-Network E-Commerce ETF (Formerly known as First Trust Nasdaq Retail ETF) | |||
First Trust Nasdaq Semiconductor ETF | |||
First Trust Nasdaq Transportation ETF | |||
First Trust S-Network Streaming & Gaming ETF | For the period from January 25, 2022 (commencement of operations) through March 31, 2022 |
Dividends Received Deduction | |
First Trust Nasdaq Bank ETF | 100.00% |
First Trust Nasdaq Food & Beverage ETF | 94.37% |
First Trust Nasdaq Oil & Gas ETF | 100.00% |
First Trust Nasdaq Pharmaceuticals ETF | 100.00% |
First Trust S-Network E-Commerce ETF | 100.00% |
First Trust Nasdaq Semiconductor ETF | 100.00% |
First Trust Nasdaq Transportation ETF | 100.00% |
First Trust S-Network Streaming & Gaming ETF | 16.05% |
Qualified Dividend Income | |
First Trust Nasdaq Bank ETF | 100.00% |
First Trust Nasdaq Food & Beverage ETF | 94.37% |
First Trust Nasdaq Oil & Gas ETF | 100.00% |
First Trust Nasdaq Pharmaceuticals ETF | 100.00% |
First Trust S-Network E-Commerce ETF | 100.00% |
First Trust Nasdaq Semiconductor ETF | 100.00% |
First Trust Nasdaq Transportation ETF | 100.00% |
First Trust S-Network Streaming & Gaming ETF | 45.68% |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INDEPENDENT TRUSTEES | ||||
Richard E. Erickson, Trustee (1951) | • Indefinite Term • Since Inception | Physician, Edward-Elmhurst Medical Group; Physician and Officer, Wheaton Orthopedics (1990 to 2021) | 217 | None |
Thomas R. Kadlec, Trustee (1957) | • Indefinite Term • Since Inception | President, ADM Investor Services, Inc. (Futures Commission Merchant) | 217 | Director of ADM Investor Services, Inc., ADM Investor Services International, Futures Industry Association, and National Futures Association |
Denise M. Keefe, Trustee (1964) | • Indefinite Term • Since 2021 | Executive Vice President, Advocate Aurora Health and President, Advocate Aurora Continuing Health Division (Integrated Healthcare System) | 217 | Director and Board Chair of Advocate Home Health Services, Advocate Home Care Products and Advocate Hospice; Director and Board Chair of Aurora At Home (since 2018); Director of Advocate Physician Partners Accountable Care Organization; Director and Board Chair of RML Long Term Acute Care Hospitals; and Director of Senior Helpers (since 2021) |
Robert F. Keith, Trustee (1956) | • Indefinite Term • Since Inception | President, Hibs Enterprises (Financial and Management Consulting) | 217 | Director of Trust Company of Illinois |
Niel B. Nielson, Trustee (1954) | • Indefinite Term • Since Inception | Senior Advisor (August 2018 to Present), Managing Director and Chief Operating Officer (January 2015 to August 2018), Pelita Harapan Educational Foundation (Educational Products and Services) | 217 | None |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INTERESTED TRUSTEE | ||||
James A. Bowen(1), Trustee and Chairman of the Board (1955) | • Indefinite Term • Since Inception | Chief Executive Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chairman of the Board of Directors, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) | 217 | None |
Name and Year of Birth | Position and Offices with Trust | Term of Office and Length of Service | Principal Occupations During Past 5 Years |
OFFICERS(2) | |||
James M. Dykas (1966) | President and Chief Executive Officer | • Indefinite Term • Since January 2016 | Managing Director and Chief Financial Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chief Financial Officer, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) |
Donald P. Swade (1972) | Treasurer, Chief Financial Officer and Chief Accounting Officer | • Indefinite Term • Since January 2016 | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
W. Scott Jardine (1960) | Secretary and Chief Legal Officer | • Indefinite Term • Since Inception | General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P.; Secretary and General Counsel, BondWave LLC; Secretary, Stonebridge Advisors LLC |
Daniel J. Lindquist (1970) | Vice President | • Indefinite Term • Since Inception | Managing Director, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Kristi A. Maher (1966) | Chief Compliance Officer and Assistant Secretary | • Indefinite Term • Since Inception | Deputy General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Roger F. Testin (1966) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Stan Ueland (1970) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
(1) | Mr. Bowen is deemed an “interested person” of the Trust due to his position as CEO of First Trust Advisors L.P., investment advisor of the Trust. |
(2) | The term “officer” means the president, vice president, secretary, treasurer, controller or any other officer who performs a policy making function. |
• | Information we receive from you and your broker-dealer, investment professional or financial representative through interviews, applications, agreements or other forms; |
• | Information about your transactions with us, our affiliates or others; |
• | Information we receive from your inquiries by mail, e-mail or telephone; and |
• | Information we collect on our website through the use of “cookies”. For example, we may identify the pages on our website that your browser requests or visits. |
• | In order to provide you with products and services and to effect transactions that you request or authorize, we may disclose your personal information as described above to unaffiliated financial service providers and other companies that perform administrative or other services on our behalf, such as transfer agents, custodians and trustees, or that assist us in the distribution of investor materials such as trustees, banks, financial representatives, proxy services, solicitors and printers. |
• | We may release information we have about you if you direct us to do so, if we are compelled by law to do so, or in other legally limited circumstances (for example to protect your account from fraud). |
FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
Developed International Equity Select ETF (RNDM)
Emerging Markets Equity Select ETF (RNEM)
Large Cap US Equity Select ETF (RNLC)
Mid Cap US Equity Select ETF (RNMC)
Small Cap US Equity Select ETF (RNSC)
US Equity Dividend Select ETF (RNDV)
For the Year Ended
March 31, 2022
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Fund Performance Overview | |
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Portfolio of Investments | |
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Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/22 | Inception (6/20/17) to 3/31/22 | Inception (6/20/17) to 3/31/22 | |
Fund Performance | |||
NAV | 0.82% | 3.22% | 16.33% |
Market Price | 0.32% | 3.20% | 16.22% |
Index Performance | |||
Nasdaq Riskalyze Developed Markets Index | 2.65% | 4.65% | 24.25% |
NASDAQ Developed Markets Ex-US Large Mid Cap Index | 2.60% | 6.78% | 36.82% |
MSCI World ex USA Index | 3.04% | 6.27% | 33.70% |
Sector Allocation | % of Total Investments |
Financials | 22.5% |
Industrials | 20.5 |
Health Care | 12.4 |
Consumer Staples | 10.7 |
Information Technology | 7.1 |
Communication Services | 6.8 |
Consumer Discretionary | 6.1 |
Materials | 5.4 |
Utilities | 4.4 |
Real Estate | 3.2 |
Energy | 0.9 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Mitsubishi Corp. | 2.7% |
ITOCHU Corp. | 2.6 |
Takeda Pharmaceutical Co., Ltd. | 2.3 |
Secom Co., Ltd. | 2.2 |
Roche Holding AG | 2.1 |
RELX PLC | 2.0 |
Novartis AG | 2.0 |
Croda International PLC | 1.4 |
Open Text Corp. | 1.3 |
Sompo Holdings, Inc. | 1.3 |
Total | 19.9% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/22 | Inception (6/20/17) to 3/31/22 | Inception (6/20/17) to 3/31/22 | |
Fund Performance | |||
NAV | 1.91% | 2.60% | 13.03% |
Market Price | 1.08% | 2.61% | 13.10% |
Index Performance | |||
Nasdaq Riskalyze Emerging Markets Index | 4.48% | 4.65% | 24.28% |
NASDAQ Emerging Markets Large Mid Cap Index | -7.26% | 5.76% | 30.68% |
MSCI Emerging Markets Index | -11.37% | 5.03% | 26.40% |
Sector Allocation | % of Total Investments |
Financials | 26.1% |
Information Technology | 22.3 |
Materials | 16.3 |
Consumer Staples | 10.2 |
Communication Services | 5.1 |
Energy | 4.9 |
Consumer Discretionary | 4.7 |
Health Care | 3.3 |
Industrials | 3.0 |
Utilities | 2.7 |
Real Estate | 1.4 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Synnex Technology International Corp. | 4.2% |
WPG Holdings Ltd. | 3.3 |
Wistron Corp. | 3.1 |
Pegatron Corp. | 3.1 |
Infosys Ltd. | 3.0 |
Reliance Industries Ltd. | 3.0 |
Inventec Corp. | 2.8 |
Tata Consultancy Services Ltd. | 2.7 |
Kumba Iron Ore Ltd. | 1.7 |
Formosa Chemicals & Fibre Corp. | 1.6 |
Total | 28.5% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/22 | Inception (6/20/17) to 3/31/22 | Inception (6/20/17) to 3/31/22 | |
Fund Performance | |||
NAV | 11.62% | 13.19% | 80.76% |
Market Price | 11.54% | 13.20% | 80.86% |
Index Performance | |||
Nasdaq Riskalyze US Large Cap Index | 12.31% | 13.90% | 86.24% |
Nasdaq US 500 Large Cap IndexTM | 13.81% | 15.95% | 102.82% |
S&P 500® Index | 15.65% | 15.92% | 102.59% |
Sector Allocation | % of Total Investments |
Information Technology | 30.6% |
Health Care | 13.9 |
Industrials | 11.6 |
Financials | 10.6 |
Consumer Discretionary | 10.3 |
Consumer Staples | 6.1 |
Communication Services | 4.9 |
Energy | 4.0 |
Real Estate | 2.9 |
Utilities | 2.7 |
Materials | 2.4 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Leidos Holdings, Inc. | 1.1% |
Hewlett Packard Enterprise Co. | 1.0 |
NortonLifeLock, Inc. | 0.9 |
Cognizant Technology Solutions Corp., Class A | 0.9 |
Corning, Inc. | 0.9 |
Monolithic Power Systems, Inc. | 0.9 |
Apple, Inc. | 0.9 |
Texas Instruments, Inc. | 0.9 |
International Business Machines Corp. | 0.9 |
HP, Inc. | 0.9 |
Total | 9.3% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/22 | Inception (6/20/17) to 3/31/22 | Inception (6/20/17) to 3/31/22 | |
Fund Performance | |||
NAV | 7.26% | 10.24% | 59.32% |
Market Price | 7.15% | 10.23% | 59.25% |
Index Performance | |||
Nasdaq Riskalyze US Mid Cap Index | 7.97% | 10.92% | 64.10% |
Nasdaq US 600 Mid Cap IndexTM | 0.49% | 11.87% | 70.88% |
S&P MidCap 400® Index | 4.59% | 11.22% | 66.22% |
Sector Allocation | % of Total Investments |
Industrials | 16.1% |
Financials | 15.6 |
Consumer Discretionary | 13.3 |
Information Technology | 11.9 |
Health Care | 11.4 |
Real Estate | 8.6 |
Materials | 8.1 |
Energy | 5.1 |
Consumer Staples | 3.6 |
Utilities | 3.3 |
Communication Services | 3.0 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Organon & Co. | 1.4% |
Universal Health Services, Inc., Class B | 1.4 |
Encompass Health Corp. | 1.3 |
Ensign Group (The), Inc. | 1.3 |
Perrigo Co. PLC | 1.2 |
Chemed Corp. | 1.2 |
Premier, Inc., Class A | 1.1 |
Select Medical Holdings Corp. | 1.0 |
Bruker Corp. | 0.9 |
CDK Global, Inc. | 0.9 |
Total | 11.7% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/22 | Inception (6/20/17) to 3/31/22 | Inception (6/20/17) to 3/31/22 | |
Fund Performance | |||
NAV | 4.39% | 10.20% | 59.03% |
Market Price | 4.20% | 10.22% | 59.18% |
Index Performance | |||
Nasdaq Riskalyze US Small Cap Index | 5.02% | 10.94% | 64.22% |
Nasdaq US 700 Small Cap IndexTM | -3.22% | 11.84% | 70.72% |
S&P SmallCap 600® Index | 1.23% | 11.30% | 66.76% |
Sector Allocation | % of Total Investments |
Industrials | 17.3% |
Financials | 17.1 |
Information Technology | 12.9 |
Health Care | 11.2 |
Consumer Discretionary | 10.9 |
Real Estate | 8.1 |
Energy | 6.4 |
Utilities | 4.2 |
Consumer Staples | 4.0 |
Materials | 4.0 |
Communication Services | 3.9 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Patterson Cos., Inc. | 2.9% |
CONMED Corp. | 2.7 |
Healthcare Services Group, Inc. | 2.7 |
U.S. Physical Therapy, Inc. | 2.7 |
Owens & Minor, Inc. | 2.6 |
CSG Systems International, Inc. | 1.7 |
Switch, Inc., Class A | 1.6 |
Avnet, Inc. | 1.5 |
Progress Software Corp. | 1.5 |
Advanced Energy Industries, Inc. | 1.4 |
Total | 21.3% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||
Average Annual Total Returns | Cumulative Total Returns | ||
1 Year Ended 3/31/22 | Inception (6/20/17) to 3/31/22 | Inception (6/20/17) to 3/31/22 | |
Fund Performance | |||
NAV | 10.86% | 12.44% | 75.07% |
Market Price | 10.97% | 12.48% | 75.37% |
Index Performance | |||
Nasdaq Riskalyze US Large Cap Select Dividend Index | 11.48% | 13.07% | 79.84% |
Nasdaq US 500 Large Cap IndexTM | 13.81% | 15.95% | 102.82% |
S&P 500® Index | 15.65% | 15.92% | 102.59% |
Sector Allocation | % of Total Investments |
Information Technology | 30.0% |
Health Care | 13.6 |
Industrials | 11.6 |
Financials | 10.5 |
Consumer Discretionary | 9.7 |
Communication Services | 7.8 |
Consumer Staples | 5.9 |
Energy | 3.6 |
Real Estate | 2.8 |
Utilities | 2.7 |
Materials | 1.8 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
International Business Machines Corp. | 4.6% |
Hewlett Packard Enterprise Co. | 3.2 |
Intel Corp. | 2.6 |
Corning, Inc. | 2.5 |
Omnicom Group, Inc. | 2.4 |
Texas Instruments, Inc. | 2.2 |
Paramount Global, Class B | 2.1 |
HP, Inc. | 2.1 |
Broadcom, Inc. | 2.1 |
NortonLifeLock, Inc. | 2.0 |
Total | 25.8% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Beginning Account Value October 1, 2021 | Ending Account Value March 31, 2022 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
Developed International Equity Select ETF (RNDM) | ||||
Actual | $1,000.00 | $970.80 | 0.65% | $3.19 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.69 | 0.65% | $3.28 |
Emerging Markets Equity Select ETF (RNEM) | ||||
Actual | $1,000.00 | $1,011.70 | 0.75% | $3.76 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.19 | 0.75% | $3.78 |
Large Cap US Equity Select ETF (RNLC) | ||||
Actual | $1,000.00 | $1,052.50 | 0.60% | $3.07 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
Mid Cap US Equity Select ETF (RNMC) | ||||
Actual | $1,000.00 | $1,038.80 | 0.60% | $3.05 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
Small Cap US Equity Select ETF (RNSC) | ||||
Actual | $1,000.00 | $1,041.10 | 0.60% | $3.05 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.94 | 0.60% | $3.02 |
US Equity Dividend Select ETF (RNDV) | ||||
Actual | $1,000.00 | $1,074.60 | 0.50% | $2.59 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.44 | 0.50% | $2.52 |
(a) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (October 1, 2021 through March 31, 2022), multiplied by 182/365 (to reflect the six-month period). |
Shares | Description | Value | ||
COMMON STOCKS (a) – 97.1% | ||||
Australia – 5.8% | ||||
10,848 | APA Group (b) | $86,218 | ||
1,355 | Aristocrat Leisure Ltd. (b) | 36,777 | ||
1,211 | ASX Ltd. (b) | 73,665 | ||
17,126 | Aurizon Holdings Ltd. (b) | 47,073 | ||
3,481 | Australia & New Zealand Banking Group Ltd. (b) | 71,329 | ||
6,026 | Brambles Ltd. (b) | 44,470 | ||
3,869 | Coles Group Ltd. (b) | 51,711 | ||
940 | Commonwealth Bank of Australia (b) | 74,027 | ||
5,378 | Computershare Ltd. (b) | 98,843 | ||
300 | CSL Ltd. (b) | 59,893 | ||
12,655 | Harvey Norman Holdings Ltd. (b) | 50,430 | ||
538 | Macquarie Group Ltd. (b) | 81,364 | ||
27,299 | Medibank Pvt Ltd. (b) | 62,720 | ||
3,522 | National Australia Bank Ltd. (b) | 84,792 | ||
1,261 | Ramsay Health Care Ltd. (b) | 61,071 | ||
2,159 | Sonic Healthcare Ltd. (b) | 57,002 | ||
7,803 | Suncorp Group Ltd. (b) | 64,685 | ||
17,499 | Telstra Corp., Ltd. (b) | 51,700 | ||
4,585 | Transurban Group (b) | 46,327 | ||
1,181 | Wesfarmers Ltd. (b) | 44,317 | ||
3,769 | Westpac Banking Corp. (b) | 68,093 | ||
1,670 | Woolworths Group Ltd. (b) | 46,367 | ||
1,362,874 | ||||
Austria – 0.3% | ||||
383 | ams-OSRAM AG (b) (c) | 5,863 | ||
105 | ANDRITZ AG (b) | 4,849 | ||
162 | BAWAG Group AG (b) (d) (e) | 8,174 | ||
240 | Erste Group Bank AG (b) | 8,752 | ||
212 | OMV AG (b) | 10,130 | ||
403 | Raiffeisen Bank International AG (b) | 5,722 | ||
176 | Verbund AG (b) | 18,586 | ||
182 | voestalpine AG (b) | 5,416 | ||
67,492 | ||||
Belgium – 1.0% | ||||
389 | Ageas S.A./N.V. (b) | 19,665 | ||
802 | Anheuser-Busch InBev S.A./N.V. (b) | 47,950 | ||
35 | D’ieteren Group (b) | 5,893 | ||
95 | Elia Group S.A./N.V. (b) | 14,494 | ||
896 | Etablissements Franz Colruyt N.V. (b) | 37,089 | ||
176 | Groupe Bruxelles Lambert S.A. (b) | 18,212 | ||
219 | KBC Group N.V. (b) | 15,713 | ||
199 | Proximus S.A.D.P. (b) | 3,706 | ||
49 | Sofina S.A. (b) | 17,805 | ||
122 | Solvay S.A. (b) | 12,024 | ||
177 | UCB S.A. (b) | 21,169 |
Shares | Description | Value | ||
Belgium (Continued) | ||||
255 | Umicore S.A. (b) | $11,023 | ||
224,743 | ||||
Bermuda – 0.2% | ||||
2,968 | CK Infrastructure Holdings Ltd. (b) | 19,841 | ||
1,500 | Hongkong Land Holdings Ltd. (b) | 7,329 | ||
300 | Jardine Matheson Holdings Ltd. (b) | 16,457 | ||
7,200 | Kerry Logistics Network Ltd. (b) | 16,447 | ||
60,074 | ||||
Canada – 7.9% | ||||
1,367 | Algonquin Power & Utilities Corp. | 21,202 | ||
1,016 | AltaGas Ltd. | 22,756 | ||
983 | Bank of Montreal | 115,673 | ||
1,593 | Bank of Nova Scotia (The) | 114,173 | ||
1,499 | BCE, Inc. | 83,095 | ||
881 | Canadian Imperial Bank of Commerce | 106,941 | ||
743 | Canadian Utilities Ltd., Class A | 22,775 | ||
443 | Emera, Inc. | 21,960 | ||
452 | Fortis, Inc. | 22,355 | ||
188 | George Weston Ltd. | 23,151 | ||
3,227 | Great-West Lifeco, Inc. | 95,095 | ||
849 | Hydro One Ltd. (d) (e) | 22,873 | ||
742 | Intact Financial Corp. | 109,637 | ||
296 | Loblaw Cos., Ltd. | 26,561 | ||
416 | Metro, Inc. | 23,945 | ||
1,277 | National Bank of Canada | 97,888 | ||
7,124 | Open Text Corp. | 302,078 | ||
2,975 | Power Corp. of Canada | 92,095 | ||
986 | Royal Bank of Canada | 108,557 | ||
1,908 | Sun Life Financial, Inc. | 106,530 | ||
3,415 | TELUS Corp. | 89,216 | ||
909 | TMX Group Ltd. | 93,492 | ||
1,481 | Toronto-Dominion Bank (The) | 117,506 | ||
158 | Waste Connections, Inc. | 22,096 | ||
1,861,650 | ||||
Cayman Islands – 0.3% | ||||
2,326 | CK Asset Holdings Ltd. (b) | 15,899 | ||
2,292 | CK Hutchison Holdings Ltd. (b) | 16,760 | ||
7,200 | Shimao Group Holdings Ltd. (b) | 4,020 | ||
15,000 | Sino Biopharmaceutical Ltd. (b) | 9,314 | ||
13,950 | WH Group Ltd. (b) (d) (e) | 8,760 | ||
2,700 | Wharf Real Estate Investment Co., Ltd. (b) | 13,344 | ||
68,097 | ||||
Denmark – 2.5% | ||||
1,401 | Ambu A.S., Class B (b) | 20,624 | ||
14 | AP Moller - Maersk A.S., Class B (b) | 42,070 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Denmark (Continued) | ||||
96 | Carlsberg A.S., Class B (b) | $11,785 | ||
508 | Chr Hansen Holding A.S. (b) | 37,301 | ||
265 | Coloplast A.S., Class B (b) | 40,131 | ||
994 | Danske Bank A.S. (b) | 16,535 | ||
823 | Demant A.S. (b) (c) | 37,245 | ||
156 | DSV A.S. (b) | 29,898 | ||
95 | Genmab A.S. (b) (c) | 34,310 | ||
599 | GN Store Nord A.S. (b) | 29,361 | ||
1,526 | H Lundbeck A.S. (b) | 35,161 | ||
59 | Netcompany Group A.S. (b) (c) (d) (e) | 3,888 | ||
428 | Novo Nordisk A.S., Class B (b) | 47,472 | ||
605 | Novozymes A.S., Class B (b) | 41,481 | ||
278 | Orsted A.S. (b) (d) (e) | 34,798 | ||
129 | Pandora A.S. (b) | 12,289 | ||
86 | ROCKWOOL International A.S., Class B (b) | 28,389 | ||
131 | Royal Unibrew A.S. (b) | 12,239 | ||
58 | SimCorp A.S. (b) | 4,253 | ||
739 | Tryg A.S. (b) | 17,969 | ||
1,411 | Vestas Wind Systems A/S (b) | 41,391 | ||
578,590 | ||||
Finland – 1.1% | ||||
464 | Elisa Oyj (b) | 27,982 | ||
641 | Fortum Oyj (b) | 11,716 | ||
322 | Huhtamaki Oyj (b) | 11,202 | ||
401 | Kesko Oyj, Class B (b) | 11,072 | ||
248 | Kojamo Oyj (b) | 5,959 | ||
207 | Kone Oyj, Class B (b) | 10,832 | ||
1,590 | Metso Outotec Oyj (b) | 13,403 | ||
635 | Neste Oyj (b) | 28,952 | ||
5,216 | Nokia Oyj (b) (c) | 28,725 | ||
188 | Nokian Renkaat Oyj (b) | 3,051 | ||
709 | Sampo Oyj, Class A (b) | 34,645 | ||
1,350 | Stora Enso Oyj, Class R (b) | 26,483 | ||
635 | UPM-Kymmene Oyj (b) | 20,736 | ||
401 | Valmet Oyj (b) | 12,446 | ||
1,216 | Wartsila OYJ Abp (b) | 11,103 | ||
258,307 | ||||
France – 9.9% | ||||
377 | Air Liquide S.A. (b) | 65,954 | ||
1,151 | Amundi S.A. (b) (d) (e) | 78,706 | ||
456 | Arkema S.A. (b) | 54,510 | ||
18,914 | Bollore S.A. (b) | 99,042 | ||
2,637 | Bouygues S.A. (b) | 92,042 | ||
3,543 | Bureau Veritas S.A. (b) | 101,014 | ||
403 | Capgemini SE (b) | 89,427 | ||
1,013 | Cie Generale des Etablissements Michelin SCA (b) | 137,277 | ||
744 | Danone S.A. (b) | 41,101 | ||
1,599 | Dassault Systemes SE (b) | 78,557 | ||
5,207 | Engie S.A. (b) | 68,456 | ||
786 | EssilorLuxottica S.A. (b) | 143,752 |
Shares | Description | Value | ||
France (Continued) | ||||
113 | Hermes International (b) | $159,934 | ||
3,020 | La Francaise des Jeux SAEM (b) (d) (e) | 119,811 | ||
1,021 | Legrand S.A. (b) | 97,073 | ||
376 | L’Oreal S.A. (b) | 150,192 | ||
3,189 | Orange S.A. | 37,762 | ||
230 | Pernod Ricard S.A. (b) | 50,534 | ||
263 | Remy Cointreau S.A. (b) | 54,238 | ||
1,563 | Sanofi (b) | 159,801 | ||
658 | Schneider Electric SE (b) | 110,472 | ||
1,103 | SEB S.A. (b) | 153,825 | ||
278 | Teleperformance (b) | 105,890 | ||
699 | Wendel SE (b) | 71,182 | ||
2,320,552 | ||||
Germany – 7.9% | ||||
428 | Allianz SE (b) | 102,210 | ||
376 | Beiersdorf AG (b) | 39,500 | ||
499 | Brenntag SE (b) | 40,235 | ||
593 | Deutsche Boerse AG (b) | 106,746 | ||
1,847 | Deutsche Post AG (b) | 88,198 | ||
6,319 | Deutsche Telekom AG (b) | 117,686 | ||
2,156 | E.ON SE (b) | 25,049 | ||
1,472 | Evonik Industries AG (b) | 40,837 | ||
968 | Fresenius Medical Care AG & Co., KGaA (b) | 64,867 | ||
1,418 | Fresenius SE & Co., KGaA (b) | 52,064 | ||
993 | FUCHS PETROLUB SE (Preference Shares) (b) | 36,028 | ||
2,541 | GEA Group AG (b) | 104,149 | ||
551 | Hannover Rueck SE (b) | 93,603 | ||
2,570 | Henkel AG & Co., KGaA (Preference Shares) (b) | 172,015 | ||
1,085 | Knorr-Bremse AG (b) | 83,173 | ||
236 | LEG Immobilien SE (b) | 26,875 | ||
314 | Merck KGaA (b) | 65,574 | ||
2,137 | Puma SE (b) | 181,735 | ||
745 | RWE AG (b) | 32,439 | ||
2,258 | Scout24 AG (b) (d) (e) | 128,733 | ||
353 | Symrise AG (b) | 42,322 | ||
1,139 | TAG Immobilien AG (b) | 25,791 | ||
632 | Uniper SE (b) | 16,327 | ||
4,028 | United Internet AG (b) | 138,233 | ||
555 | Vonovia SE (b) | 25,869 | ||
1,850,258 | ||||
Greece – 0.0% | ||||
342 | Hellenic Telecommunications Organization S.A. (b) | 6,184 | ||
290 | OPAP S.A. (b) | 4,221 | ||
10,405 | ||||
Hong Kong – 2.2% | ||||
9,032 | AIA Group Ltd. (b) | 94,311 | ||
1,601 | CLP Holdings, Ltd. (b) | 15,577 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Hong Kong (Continued) | ||||
7,500 | Galaxy Entertainment Group Ltd. (b) | $44,380 | ||
5,565 | Hang Lung Properties Ltd. (b) | 11,217 | ||
6,164 | Hang Seng Bank Ltd. (b) | 118,551 | ||
3,127 | Henderson Land Development Co., Ltd. (b) | 12,980 | ||
11,219 | Hong Kong & China Gas Co., Ltd. (b) | 13,552 | ||
1,729 | Hong Kong Exchanges & Clearing Ltd. (b) | 81,044 | ||
3,140 | MTR Corp., Ltd. (b) | 16,910 | ||
2,817 | New World Development Co., Ltd. (b) | 11,429 | ||
2,724 | Power Assets Holdings Ltd. | 17,752 | ||
10,018 | Sino Land Co., Ltd. (b) | 12,917 | ||
1,084 | Sun Hung Kai Properties Ltd. (b) | 12,897 | ||
2,845 | Swire Pacific Ltd., Class A (b) | 17,301 | ||
1,800 | Techtronic Industries Co., Ltd. (b) | 28,839 | ||
4,077 | Wharf Holdings (The) Ltd. (b) | 12,418 | ||
522,075 | ||||
Ireland – 0.6% | ||||
1,985 | AIB Group PLC (b) | 4,372 | ||
914 | Bank of Ireland Group PLC (b) (c) | 5,812 | ||
655 | CRH PLC (b) | 26,125 | ||
1,077 | Glanbia PLC (b) | 12,494 | ||
132 | Kerry Group PLC, Class A | 14,763 | ||
310 | Kingspan Group PLC (b) | 30,302 | ||
260 | Ryanair Holdings PLC, ADR (c) | 22,651 | ||
586 | Smurfit Kappa Group PLC (b) | 26,029 | ||
142,548 | ||||
Israel – 0.5% | ||||
53 | Azrieli Group Ltd. (b) | 4,656 | ||
1,244 | Bank Hapoalim BM (b) | 12,316 | ||
1,290 | Bank Leumi Le-Israel BM (b) | 13,897 | ||
34 | Elbit Systems Ltd. (b) | 7,436 | ||
1,017 | ICL Group Ltd. (b) | 12,090 | ||
2,070 | Israel Discount Bank Ltd., Class A (b) | 12,874 | ||
325 | Mizrahi Tefahot Bank Ltd. (b) | 12,692 | ||
89 | Nice, Ltd. (b) (c) | 19,466 | ||
1,607 | Teva Pharmaceutical Industries Ltd. (b) (c) | 15,000 | ||
110,427 | ||||
Italy – 1.9% | ||||
10,545 | A2A S.p.A. (b) | 18,061 | ||
1,248 | Assicurazioni Generali S.p.A. (b) | 28,544 | ||
473 | Atlantia S.p.A. (b) | 9,835 | ||
607 | Banca Generali S.p.A. (b) | 22,459 | ||
2,456 | Banca Mediolanum S.p.A. (b) | 20,870 | ||
392 | Buzzi Unicem S.p.A (b) | 7,254 |
Shares | Description | Value | ||
Italy (Continued) | ||||
2,815 | Enel S.p.A. (b) | $18,795 | ||
2,777 | Eni S.p.A. (b) | 40,498 | ||
1,465 | FinecoBank Banca Fineco S.p.A. (b) | 22,224 | ||
5,296 | Hera S.p.A. (b) | 19,511 | ||
685 | Infrastrutture Wireless Italiane S.p.A. (b) (d) (e) | 7,668 | ||
139 | Interpump Group S.p.A. (b) | 6,965 | ||
9,361 | Intesa Sanpaolo S.p.A. (b) | 21,425 | ||
3,380 | Italgas S.p.A. (b) | 21,684 | ||
2,201 | Mediobanca Banca di Credito Finanziario S.p.A. (b) | 22,242 | ||
420 | Moncler S.p.A. (b) | 23,302 | ||
479 | Nexi S.P.A (b) (c) (d) (e) | 5,528 | ||
1,925 | Poste Italiane S.p.A. (b) (d) (e) | 21,831 | ||
256 | Prysmian S.p.A. (b) | 8,688 | ||
342 | Recordati Industria Chimica e Farmaceutica S.p.A. (b) | 17,148 | ||
6,686 | Snam S.p.A. (b) | 38,555 | ||
19,436 | Telecom Italia S.p.A. (b) | 7,136 | ||
3,051 | Terna-Rete Elettrica Nazionale S.p.A. (b) | 26,200 | ||
436,423 | ||||
Japan – 15.0% | ||||
1,500 | Chubu Electric Power Co., Inc. (b) | 15,525 | ||
1,400 | Idemitsu Kosan Co., Ltd. (b) | 38,592 | ||
17,800 | ITOCHU Corp. (b) | 602,102 | ||
2,400 | Japan Tobacco, Inc. (b) | 40,986 | ||
800 | Kao Corp. (b) | 32,664 | ||
3,600 | KDDI Corp. (b) | 118,032 | ||
2,500 | Kirin Holdings Co., Ltd. (b) | 37,342 | ||
1,000 | Lawson, Inc. (b) | 38,280 | ||
700 | MEIJI Holdings Co., Ltd. (b) | 37,962 | ||
16,600 | Mitsubishi Corp. (b) | 622,944 | ||
20,400 | Mizuho Financial Group, Inc. (b) | 260,209 | ||
4,300 | Nippon Telegraph & Telephone Corp. (b) | 124,932 | ||
2,900 | Nisshin Seifun Group, Inc. (b) | 40,459 | ||
500 | Nissin Foods Holdings Co., Ltd. (b) | 35,058 | ||
1,000 | Osaka Gas Co., Ltd. (b) | 17,136 | ||
7,200 | Secom Co., Ltd. (b) | 520,862 | ||
8,700 | Softbank Corp. (b) | 101,469 | ||
6,700 | Sompo Holdings, Inc. (b) | 294,401 | ||
18,500 | Takeda Pharmaceutical Co., Ltd. (b) | 527,106 | ||
1,000 | Tokyo Gas Co., Ltd. (b) | 18,307 | ||
3,524,368 | ||||
Jersey – 0.2% | ||||
415 | Ferguson PLC (b) | 56,224 | ||
Luxembourg – 0.1% | ||||
356 | APERAM S.A. (b) | 15,734 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Netherlands – 4.6% | ||||
503 | Aalberts N.V. (b) | $26,069 | ||
11 | Adyen N.V. (b) (c) (d) (e) | 21,788 | ||
6,871 | Aegon N.V. (b) | 36,424 | ||
181 | Akzo Nobel N.V. (b) | 15,552 | ||
67 | Argenx SE (b) (c) | 20,962 | ||
264 | ASM International N.V. (b) | 96,131 | ||
138 | ASML Holding N.V. (b) | 92,215 | ||
777 | ASR Nederland N.V. (b) | 36,275 | ||
1,296 | BE Semiconductor Industries N.V. (b) | 110,475 | ||
787 | Davide Campari-Milano N.V. (b) | 9,128 | ||
860 | Euronext N.V. (b) (d) (e) | 78,129 | ||
315 | EXOR N.V. (b) | 23,946 | ||
417 | Heineken Holding N.V. (b) | 32,652 | ||
347 | Heineken N.V. (b) | 33,184 | ||
104 | IMCD N.V. (b) | 17,742 | ||
2,442 | ING Groep N.V. (b) | 25,497 | ||
1,411 | Just Eat Takeaway.com N.V. (b) (c) (d) (e) | 47,322 | ||
1,091 | Koninklijke Ahold Delhaize N.V. (b) | 35,092 | ||
182 | Koninklijke DSM N.V. (b) | 32,559 | ||
4,019 | Koninklijke KPN N.V. (b) | 13,946 | ||
1,256 | Koninklijke Philips N.V. (b) | 38,300 | ||
738 | Koninklijke Vopak N.V. (b) | 23,877 | ||
679 | NN Group N.V. (b) | 34,411 | ||
668 | OCI N.V. (b) (c) | 23,583 | ||
1,291 | Prosus N.V. (b) | 69,621 | ||
432 | Randstad N.V. (b) | 25,987 | ||
581 | Signify N.V. (b) (d) (e) | 27,027 | ||
374 | Wolters Kluwer N.V. (b) | 39,871 | ||
1,087,765 | ||||
New Zealand – 0.2% | ||||
1,669 | Auckland International Airport Ltd. (b) (c) | 9,030 | ||
806 | Fisher & Paykel Healthcare Corp., Ltd. (b) | 13,525 | ||
135 | Mainfreight Ltd. (b) | 7,817 | ||
2,748 | Spark New Zealand Ltd. (b) | 8,696 | ||
203 | Xero Ltd. (b) (c) | 15,385 | ||
54,453 | ||||
Norway – 0.8% | ||||
242 | Adevinta ASA (b) (c) | 2,209 | ||
698 | DNB Bank ASA (b) | 15,781 | ||
1,577 | Equinor ASA (b) | 58,880 | ||
734 | Gjensidige Forsikring ASA (b) | 18,201 | ||
492 | Mowi ASA (b) | 13,253 | ||
245 | Nordic Semiconductor ASA (b) (c) | 6,241 | ||
1,586 | Norsk Hydro ASA (b) | 15,410 | ||
1,361 | Orkla ASA (b) | 12,092 | ||
187 | Salmar ASA (b) | 14,782 | ||
155 | Schibsted ASA, Class A (b) | 3,820 |
Shares | Description | Value | ||
Norway (Continued) | ||||
948 | Telenor ASA (b) | $13,603 | ||
214 | TOMRA Systems ASA (b) | 10,917 | ||
239 | Yara International ASA (b) | 11,952 | ||
197,141 | ||||
Portugal – 0.1% | ||||
3,851 | EDP - Energias de Portugal S.A. (b) | 18,954 | ||
683 | Galp Energia SGPS S.A. (b) | 8,635 | ||
361 | Jeronimo Martins SGPS S.A. (b) | 8,661 | ||
36,250 | ||||
Singapore – 1.1% | ||||
1,800 | DBS Group Holdings Ltd. (b) | 47,164 | ||
13,100 | Genting Singapore Ltd. (b) | 7,830 | ||
2,200 | Keppel Corp., Ltd. (b) | 10,374 | ||
4,800 | Oversea-Chinese Banking Corp., Ltd. (b) | 43,545 | ||
1,900 | Singapore Airlines Ltd. (b) (c) | 7,657 | ||
5,500 | Singapore Exchange Ltd. (b) | 40,306 | ||
4,700 | Singapore Technologies Engineering Ltd. (b) | 14,237 | ||
11,700 | Singapore Telecommunications Ltd. (b) | 22,718 | ||
2,200 | United Overseas Bank Ltd. (b) | 51,476 | ||
4,100 | Wilmar International Ltd. (b) | 14,199 | ||
259,506 | ||||
South Korea – 5.2% | ||||
32 | CJ CheilJedang Corp. (b) | 9,701 | ||
1,202 | Coway Co., Ltd. (b) | 67,752 | ||
329 | Hana Financial Group, Inc. (b) | 13,085 | ||
746 | Hyundai Engineering & Construction Co., Ltd. (b) | 29,205 | ||
1,453 | Industrial Bank of Korea (b) | 12,912 | ||
3,110 | Kangwon Land, Inc. (b) (c) | 70,933 | ||
275 | KB Financial Group, Inc. (b) | 13,781 | ||
397 | Korea Electric Power Corp. (b) (c) | 7,397 | ||
266 | Korea Zinc Co., Ltd. (b) | 128,039 | ||
747 | KT Corp., ADR (c) | 10,712 | ||
158 | KT&G Corp. (b) | 10,512 | ||
10 | LG Household & Health Care Ltd. (b) | 7,054 | ||
812 | LG Uplus Corp. (b) | 9,342 | ||
1,760 | Mirae Asset Securities Co., Ltd. (b) | 12,355 | ||
575 | NAVER Corp. (b) | 159,809 | ||
92 | Samsung Biologics Co., Ltd. (b) (c) (d) (e) | 62,512 | ||
311 | Samsung C&T Corp. (b) | 29,038 | ||
1,256 | Samsung Electro-Mechanics Co., Ltd. (b) | 169,114 | ||
3,011 | Samsung Electronics Co., Ltd. (b) | 172,298 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
South Korea (Continued) | ||||
65 | Samsung Fire & Marine Insurance Co., Ltd. (b) | $11,706 | ||
208 | Samsung Life Insurance Co., Ltd. (b) | 11,264 | ||
1,391 | Samsung SDS Co., Ltd. (b) | 157,810 | ||
377 | Shinhan Financial Group Co., Ltd. (b) | 12,806 | ||
200 | SK Telecom Co., Ltd. (b) | 9,352 | ||
1,309 | Woori Financial Group, Inc. (b) | 16,407 | ||
1,214,896 | ||||
Spain – 2.4% | ||||
86 | Acciona S.A. (b) | 16,438 | ||
532 | ACS Actividades de Construccion y Servicios S.A. (b) | 14,342 | ||
84 | Aena SME S.A. (b) (c) (d) (e) | 14,003 | ||
630 | Amadeus IT Group S.A. (b) (c) | 40,961 | ||
6,719 | Banco Bilbao Vizcaya Argentaria S.A. (b) | 38,365 | ||
12,248 | Banco Santander S.A. (b) | 41,642 | ||
7,581 | Bankinter S.A. (b) | 44,419 | ||
14,314 | CaixaBank S.A. (b) | 48,551 | ||
734 | Cellnex Telecom S.A. (b) (d) (e) | 35,323 | ||
626 | Enagas S.A. (b) | 13,901 | ||
1,427 | Endesa S.A. (b) | 31,114 | ||
494 | Ferrovial S.A. (b) | 13,138 | ||
635 | Grifols S.A. (b) | 11,526 | ||
2,860 | Iberdrola S.A. (b) (c) | 31,260 | ||
1,670 | Industria de Diseno Textil S.A. (b) | 36,414 | ||
1,142 | Naturgy Energy Group S.A. (b) | 34,214 | ||
1,436 | Red Electrica Corp. S.A. (b) | 29,483 | ||
1,063 | Repsol S.A. (b) | 13,924 | ||
545 | Siemens Gamesa Renewable Energy S.A. (b) (c) | 9,559 | ||
9,677 | Telefonica S.A. (b) | 46,897 | ||
565,474 | ||||
Sweden – 3.2% | ||||
578 | AAK AB (b) | 10,712 | ||
1,346 | Alfa Laval AB (b) | 46,299 | ||
1,730 | Assa Abloy AB, Class B (b) | 46,502 | ||
832 | Atlas Copco AB, Class A (b) | 43,186 | ||
519 | Axfood AB (b) | 16,895 | ||
757 | Castellum AB (b) | 18,690 | ||
2,430 | Epiroc AB, Class A (b) | 51,975 | ||
401 | Essity AB, Class B (b) | 9,463 | ||
1,225 | Fabege AB (b) | 18,089 | ||
3,658 | Hexagon AB, Class B (b) | 51,252 | ||
566 | Holmen AB, Class B (b) | 31,593 | ||
968 | Industrivarden AB, Class C (b) | 26,982 | ||
1,393 | Investor AB, Class B (b) | 30,267 | ||
545 | L E Lundbergforetagen AB, Class B (b) | 27,660 |
Shares | Description | Value | ||
Sweden (Continued) | ||||
3,182 | Securitas AB, Class B (b) | $35,897 | ||
2,128 | Skandinaviska Enskilda Banken AB, Class A (b) | 23,006 | ||
2,004 | Skanska AB, Class B (b) | 44,834 | ||
1,603 | Svenska Cellulosa AB SCA, Class B (b) | 31,127 | ||
2,798 | Svenska Handelsbanken AB, Class A (b) | 25,729 | ||
1,487 | Swedbank AB, Class A (b) | 22,209 | ||
1,422 | Swedish Match AB (b) | 10,693 | ||
2,605 | Tele2 AB, Class B (b) | 39,377 | ||
9,360 | Telia Co., AB (b) | 37,531 | ||
2,363 | Trelleborg AB, Class B (b) | 54,709 | ||
754,677 | ||||
Switzerland – 10.0% | ||||
1,119 | ABB Ltd. (b) | 36,301 | ||
605 | Baloise Holding AG (b) | 108,051 | ||
77 | Barry Callebaut AG (b) | 180,523 | ||
78 | Bucher Industries AG (b) | 31,528 | ||
15 | Chocoladefabriken Lindt & Spruengli AG (b) | 178,529 | ||
1,166 | Clariant AG (b) | 20,234 | ||
480 | DKSH Holding AG (b) | 40,427 | ||
23 | EMS-Chemie Holding AG (b) | 22,351 | ||
50 | Geberit AG (b) | 30,823 | ||
25 | Georg Fischer AG (b) | 29,872 | ||
5 | Givaudan S.A. (b) | 20,665 | ||
778 | Holcim Ltd. (b) | 37,839 | ||
110 | Kuehne + Nagel International AG (b) | 31,232 | ||
1,452 | Nestle S.A. (b) | 188,787 | ||
5,400 | Novartis AG (b) | 474,074 | ||
59 | Partners Group Holding AG (b) | 73,054 | ||
77 | PSP Swiss Property AG (b) | 10,112 | ||
1,213 | Roche Holding AG (b) | 479,938 | ||
140 | Schindler Holding AG (b) | 29,998 | ||
14 | SGS S.A. (b) | 38,922 | ||
119 | Sika AG (b) | 39,372 | ||
182 | Swiss Life Holding AG (b) | 116,627 | ||
95 | Swiss Prime Site AG (b) | 9,369 | ||
38 | Swisscom AG (b) | 22,831 | ||
224 | Zurich Insurance Group AG (b) | 110,633 | ||
2,362,092 | ||||
United Kingdom – 12.1% | ||||
3,638 | Admiral Group PLC (b) | 122,000 | ||
7,579 | BAE Systems PLC (b) | 71,178 | ||
1,745 | Bunzl PLC (b) | 67,673 | ||
49,998 | ConvaTec Group PLC (b) (d) (e) | 141,215 | ||
3,216 | Croda International PLC (b) | 330,835 | ||
2,227 | Dechra Pharmaceuticals PLC (b) | 118,236 | ||
4,220 | Diageo PLC (b) | 214,058 | ||
39,043 | Direct Line Insurance Group PLC (b) | 140,686 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
United Kingdom (Continued) | ||||
3,974 | Electrocomponents PLC (b) | $56,126 | ||
7,694 | GlaxoSmithKline PLC (b) | 166,475 | ||
1,508 | Halma PLC (b) | 49,337 | ||
2,489 | National Grid PLC (b) | 38,252 | ||
1,943 | Pennon Group PLC (b) | 27,346 | ||
17,514 | Phoenix Group Holdings PLC (b) | 140,320 | ||
15,294 | RELX PLC (b) | 475,915 | ||
3,146 | Schroders PLC (b) | 132,476 | ||
846 | Severn Trent PLC (b) | 34,097 | ||
1,106 | Spectris PLC (b) | 37,510 | ||
286 | Spirax-Sarco Engineering PLC (b) | 46,756 | ||
60,076 | Tesco PLC (b) | 217,494 | ||
3,800 | Unilever PLC (b) | 172,531 | ||
2,273 | United Utilities Group PLC (b) | 33,471 | ||
2,833,987 | ||||
Total Common Stocks | 22,837,082 | |||
(Cost $22,341,106) | ||||
REAL ESTATE INVESTMENT TRUSTS (a) – 2.0% | ||||
Australia – 0.5% | ||||
4,781 | Dexus (b) | 39,026 | ||
2,381 | Goodman Group (b) | 40,468 | ||
10,184 | GPT (The) Group (b) | 39,283 | ||
118,777 | ||||
Belgium – 0.1% | ||||
57 | Aedifica S.A. (b) | 7,168 | ||
47 | Cofinimmo S.A. (b) | 6,845 | ||
175 | Warehouses De Pauw CVA (b) | 7,550 | ||
21,563 | ||||
Canada – 0.1% | ||||
746 | Canadian Apartment Properties REIT | 32,014 | ||
Hong Kong – 0.1% | ||||
1,484 | Link REIT (b) | 12,638 | ||
Japan – 0.7% | ||||
14 | Daiwa House REIT Investment Corp. (b) | 37,744 | ||
6 | Japan Real Estate Investment Corp. (b) | 31,426 | ||
5 | Nippon Building Fund, Inc. (b) | 28,364 | ||
27 | Nomura Real Estate Master Fund, Inc. (b) | 35,692 | ||
23 | Orix JREIT, Inc. (b) | 31,191 | ||
164,417 | ||||
Singapore – 0.2% | ||||
3,300 | Ascendas Real Estate Investment Trust (b) | 7,111 |
Shares | Description | Value | ||
Singapore (Continued) | ||||
4,901 | CapitaLand Integrated Commercial Trust (b) | $8,108 | ||
4,900 | Mapletree Commercial Trust (b) | 6,817 | ||
3,600 | Mapletree Industrial Trust (b) | 7,127 | ||
5,000 | Mapletree Logistics Trust (b) | 6,795 | ||
35,958 | ||||
Spain – 0.0% | ||||
467 | Inmobiliaria Colonial Socimi S.A. (b) | 4,257 | ||
441 | Merlin Properties Socimi S.A. (b) | 5,156 | ||
9,413 | ||||
United Kingdom – 0.3% | ||||
1,987 | Segro PLC (b) | 34,930 | ||
11,173 | Tritax Big Box REIT PLC (b) | 35,377 | ||
70,307 | ||||
Total Real Estate Investment Trusts | 465,087 | |||
(Cost $460,703) | ||||
Total Investments – 99.1% | 23,302,169 | |||
(Cost $22,801,809) | ||||
Net Other Assets and Liabilities – 0.9% | 204,671 | |||
Net Assets – 100.0% | $23,506,840 |
(a) | Portfolio securities are categorized based upon their country of incorporation, which can be different from the country categorization of the Fund’s underlying index. For a breakdown of the portfolio securities by sector, please see the Fund Performance Overview. |
(b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At March 31, 2022, securities noted as such are valued at $21,304,865 or 90.6% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(c) | Non-income producing security. |
(d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(e) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
ADR | American Depositary Receipt |
Currency Exposure Diversification | % of Total Investments |
Euro | 30.1% |
Japanese Yen | 15.8 |
British Pound Sterling | 12.7 |
Swiss Franc | 10.2 |
Canadian Dollar | 8.1 |
Australian Dollar | 6.4 |
South Korean Won | 5.2 |
Swedish Krona | 3.2 |
Hong Kong Dollar | 2.7 |
Danish Krone | 2.5 |
Singapore Dollar | 1.3 |
Norwegian Krone | 0.9 |
Israeli Shekel | 0.5 |
United States Dollar | 0.2 |
New Zealand Dollar | 0.2 |
Total | 100.0% |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Canada | $ 1,861,650 | $ 1,861,650 | $ — | $ — |
France | 2,320,552 | 37,762 | 2,282,790 | — |
Hong Kong | 522,075 | 17,752 | 504,323 | — |
Ireland | 142,548 | 37,414 | 105,134 | — |
South Korea | 1,214,896 | 10,712 | 1,204,184 | — |
Other Country Categories* | 16,775,361 | — | 16,775,361 | — |
Real Estate Investment Trusts: | ||||
Canada | 32,014 | 32,014 | — | — |
Other Country Categories* | 433,073 | — | 433,073 | — |
Total Investments | $ 23,302,169 | $ 1,997,304 | $ 21,304,865 | $— |
* | See Portfolio of Investments for country breakout. |
Shares | Description | Value | ||
COMMON STOCKS (a) – 99.2% | ||||
Bermuda – 0.3% | ||||
128 | Credicorp Ltd. | $21,999 | ||
Brazil – 10.8% | ||||
4,384 | Ambev S.A. | 14,180 | ||
3,777 | Atacadao S.A. | 17,865 | ||
13,298 | Banco Bradesco S.A. (Preference Shares) | 62,062 | ||
9,585 | Banco do Brasil S.A. | 69,859 | ||
13,884 | BB Seguridade Participacoes S.A. | 74,537 | ||
811 | Cia de Saneamento Basico do Estado de Sao Paulo | 8,127 | ||
2,229 | Cia Energetica de Minas Gerais (Preference Shares) | 7,121 | ||
4,296 | Cia Paranaense de Energia, Class B (Preference Shares) | 6,822 | ||
1,161 | CPFL Energia S.A. | 7,869 | ||
712 | Energisa S.A. | 7,299 | ||
835 | Engie Brasil Energia S.A. | 7,584 | ||
1,234 | Equatorial Energia S.A. | 7,053 | ||
7,769 | Hypera S.A. | 63,166 | ||
9,575 | Itau Unibanco Holding S.A. (Preference Shares) | 55,265 | ||
26,108 | Itausa S.A. (Preference Shares) | 58,949 | ||
1,809 | JBS S.A. | 14,146 | ||
14,474 | Klabin S.A. | 73,327 | ||
2,614 | Marfrig Global Foods S.A. | 11,749 | ||
7,936 | Natura & Co. Holding S.A. (b) | 43,422 | ||
2,043 | Neoenergia S.A. | 7,389 | ||
11,200 | Porto Seguro S.A. | 49,660 | ||
2,870 | Raia Drogasil S.A. | 14,431 | ||
1,542 | TIM S.A. | 4,466 | ||
873 | Transmissora Alianca de Energia Eletrica S.A. | 8,094 | ||
4,596 | Vale S.A. | 92,286 | ||
786,728 | ||||
Cayman Islands – 5.2% | ||||
27,625 | China Conch Environment Protection Holdings Ltd. (b) | 34,561 | ||
27,625 | China Conch Venture Holdings Ltd. (c) | 80,532 | ||
46,000 | China Resources Cement Holdings Ltd. (c) | 38,132 | ||
12,500 | Hengan International Group Co., Ltd. (c) | 57,597 | ||
36,000 | Tingyi Cayman Islands Holding Corp. (c) | 60,366 | ||
89,000 | Want Want China Holdings Ltd. (c) | 82,124 | ||
337,000 | Zhenro Properties Group Ltd. (c) (d) | 26,147 | ||
379,459 |
Shares | Description | Value | ||
Chile – 0.9% | ||||
97,848 | Banco de Chile (c) | $10,480 | ||
180,139 | Banco Santander Chile (c) | 10,128 | ||
928 | CAP S.A. (c) | 14,347 | ||
3,738 | Cencosud S.A. | 7,364 | ||
33,686 | Cia Sud Americana de Vapores S.A. (c) | 3,622 | ||
2,228 | Falabella S.A. | 7,121 | ||
183 | Sociedad Quimica y Minera de Chile S.A., Class B (Preference Shares) (c) | 15,718 | ||
68,780 | ||||
China – 8.6% | ||||
108,321 | Agricultural Bank of China Ltd., Class H (c) | 41,409 | ||
8,500 | Anhui Conch Cement Co., Ltd., Class H (c) | 43,473 | ||
105,146 | Bank of China Ltd., Class H (c) | 41,959 | ||
62,173 | Bank of Communications Co., Ltd., Class H (c) | 44,511 | ||
82,651 | China CITIC Bank Corp., Ltd., Class H (c) | 41,708 | ||
51,449 | China Construction Bank Corp., Class H (c) | 38,539 | ||
23,000 | China Life Insurance Co., Ltd., Class H (c) | 35,041 | ||
92,449 | China Minsheng Banking Corp., Ltd., Class H (c) | 34,678 | ||
760,000 | China Tower Corp., Ltd., Class H (c) (d) (e) | 85,076 | ||
40,400 | Haitong Securities Co., Ltd., Class H (c) | 30,700 | ||
66,549 | Industrial & Commercial Bank of China Ltd., Class H (c) | 40,798 | ||
12,600 | New China Life Insurance Co., Ltd., Class H (c) | 34,948 | ||
120,000 | People’s Insurance Co. Group of China (The) Ltd., Class H (c) | 39,153 | ||
38,000 | PICC Property & Casualty Co., Ltd., Class H (c) | 38,695 | ||
5,200 | Ping An Insurance Group Co. of China Ltd., Class H (c) | 36,354 | ||
627,042 | ||||
Czech Republic – 0.2% | ||||
312 | CEZ A.S. (c) | 13,086 | ||
Hong Kong – 2.1% | ||||
10,175 | Beijing Enterprises Holdings Ltd. (c) | 32,111 | ||
12,450 | BOC Hong Kong Holdings Ltd. (c) | 46,847 | ||
37,000 | Far East Horizon Ltd. (c) | 32,990 | ||
31,300 | Guangdong Investment Ltd. (c) | 42,645 | ||
154,593 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Hungary – 0.4% | ||||
807 | MOL Hungarian Oil & Gas PLC (c) | $7,091 | ||
427 | OTP Bank Nyrt (b) (c) | 15,491 | ||
270 | Richter Gedeon Nyrt (c) | 5,699 | ||
28,281 | ||||
India – 20.0% | ||||
2,778 | ACC Ltd. (c) | 78,387 | ||
669 | Bajaj Auto Ltd. (c) | 32,128 | ||
1,442 | Bata India Ltd. (c) | 37,162 | ||
7,743 | Berger Paints India Ltd. (c) | 71,351 | ||
435 | Britannia Industries Ltd. (c) | 18,341 | ||
2,483 | Cipla Ltd. (c) | 33,245 | ||
1,029 | Colgate-Palmolive India Ltd. (c) | 20,894 | ||
2,785 | Dabur India Ltd. (c) | 19,640 | ||
509 | Divi’s Laboratories Ltd. (c) | 29,441 | ||
500 | Dr. Reddy’s Laboratories Ltd. (c) | 28,292 | ||
3,752 | Grasim Industries Ltd. (c) | 81,972 | ||
905 | Hero MotoCorp Ltd. (c) | 27,220 | ||
636 | Hindustan Unilever Ltd. (c) | 17,111 | ||
8,819 | Infosys Ltd. (c) | 220,851 | ||
7,276 | ITC Ltd. (c) | 23,943 | ||
3,138 | Marico Ltd. (c) | 20,803 | ||
349 | Maruti Suzuki India Ltd. (c) | 34,634 | ||
88 | Nestle India Ltd. (c) | 20,117 | ||
15,041 | Petronet LNG Ltd. (c) | 38,323 | ||
3,135 | Pidilite Industries Ltd. (c) | 101,257 | ||
6,384 | Reliance Industries Ltd. (c) | 220,807 | ||
3,913 | Tata Consultancy Services Ltd. (c) | 192,306 | ||
2,112 | Tata Consumer Products Ltd. (c) | 21,579 | ||
1,186 | Titan Co., Ltd. (c) | 39,510 | ||
791 | Torrent Pharmaceuticals Ltd. (c) | 29,034 | ||
1,458,348 | ||||
Indonesia – 2.9% | ||||
30,876 | Adaro Energy Indonesia Tbk PT (c) | 5,763 | ||
34,747 | Aneka Tambang Tbk PT (c) | 5,885 | ||
43,145 | Astra International Tbk PT (c) | 19,729 | ||
39,149 | Bank Central Asia Tbk PT (c) | 21,761 | ||
44,560 | Bank Mandiri Persero Tbk PT (c) | 24,440 | ||
50,985 | Bank Negara Indonesia Persero Tbk PT (c) | 29,130 | ||
71,181 | Bank Rakyat Indonesia Persero Tbk PT (c) | 22,990 | ||
128,245 | Bank Raya Indonesia Tbk PT (b) (c) | 11,046 | ||
134,300 | Bank Syariah Indonesia Tbk PT (b) (c) | 14,951 | ||
31,633 | Merdeka Copper Gold Tbk PT (b) (c) | 9,938 | ||
89,161 | Sarana Menara Nusantara Tbk PT (c) | 6,635 |
Shares | Description | Value | ||
Indonesia (Continued) | ||||
1,054,800 | Smartfren Telecom Tbk PT (b) (c) | $5,642 | ||
32,016 | Telkom Indonesia Persero Tbk PT (c) | 10,186 | ||
39,912 | Tower Bersama Infrastructure Tbk PT (c) | 7,958 | ||
7,427 | United Tractors Tbk PT (c) | 13,183 | ||
209,237 | ||||
Isle Of Man (U.K.) – 0.1% | ||||
779 | NEPI Rockcastle PLC (c) | 5,188 | ||
Malaysia – 1.6% | ||||
16,900 | CIMB Group Holdings Bhd (c) | 21,408 | ||
5,400 | Genting Bhd (c) | 5,995 | ||
9,000 | Genting Malaysia Bhd (c) | 6,351 | ||
4,300 | Hartalega Holdings Bhd | 4,960 | ||
3,900 | IHH Healthcare Bhd (c) | 5,733 | ||
4,900 | Inari Amertron Bhd (c) | 3,545 | ||
10,100 | Malayan Banking Bhd (c) | 21,465 | ||
8,700 | Press Metal Aluminium Holdings Bhd (c) | 12,807 | ||
19,900 | Public Bank Bhd (c) | 22,075 | ||
3,500 | Tenaga Nasional Bhd (c) | 7,492 | ||
9,100 | Top Glove Corp. Bhd | 4,155 | ||
115,986 | ||||
Mexico – 4.7% | ||||
63,413 | America Movil S.A.B. de C.V., Series L | 67,175 | ||
2,207 | Arca Continental S.A.B. de C.V. | 14,978 | ||
21,151 | Cemex S.A.B. de C.V., Series CPO (b) | 11,304 | ||
1,550 | Fomento Economico Mexicano S.A.B. de C.V., Series UBD | 12,869 | ||
1,176 | Gruma S.A.B. de C.V., Class B | 14,745 | ||
1,312 | Grupo Aeroportuario del Pacifico S.A.B. de C.V., Class B | 21,150 | ||
816 | Grupo Aeroportuario del Sureste S.A.B. de C.V., Class B | 18,125 | ||
4,786 | Grupo Bimbo S.A.B. de C.V., Series A | 14,437 | ||
315 | Grupo Elektra S.A.B. de C.V. | 20,407 | ||
3,734 | Grupo Financiero Banorte S.A.B. de C.V., Class O | 28,126 | ||
6,714 | Grupo Mexico S.A.B. de C.V., Series B | 40,085 | ||
11,078 | Grupo Televisa S.A.B., Series CPO | 26,010 | ||
8,172 | Kimberly-Clark de Mexico S.A.B. de C.V., Class A | 11,525 | ||
5,952 | Orbia Advance Corp. S.A.B. de C.V. | 15,743 | ||
7,190 | Wal-Mart de Mexico S.A.B. de C.V. | 29,465 | ||
346,144 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Netherlands – 0.0% | ||||
247 | X5 Retail Group N.V., GDR (c) (d) (f) (g) | $36 | ||
Philippines – 0.8% | ||||
27,400 | AC Energy Corp. (c) | 4,607 | ||
59,410 | Ayala Land, Inc. (c) | 40,114 | ||
105 | Globe Telecom, Inc. (c) | 5,153 | ||
190 | PLDT, Inc. (c) | 6,781 | ||
56,655 | ||||
Poland – 1.1% | ||||
473 | Bank Polska Kasa Opieki S.A. (c) | 12,643 | ||
229 | CD Projekt S.A. (c) | 9,400 | ||
93 | Dino Polska S.A. (b) (c) (d) (e) | 7,506 | ||
224 | KGHM Polska Miedz S.A. (c) | 9,097 | ||
3 | LPP S.A. (c) | 8,118 | ||
800 | Polski Koncern Naftowy ORLEN S.A. (c) | 14,356 | ||
1,154 | Powszechna Kasa Oszczednosci Bank Polski S.A. (b) (c) | 10,874 | ||
1,335 | Powszechny Zaklad Ubezpieczen S.A. (c) | 10,687 | ||
82,681 | ||||
Russia – 0.1% | ||||
7,696 | Alrosa PJSC (c) (f) (g) | 528 | ||
40,399 | Credit Bank of Moscow PJSC (b) (c) (f) (g) | 166 | ||
172,018 | Inter RAO UES PJSC (c) (f) (g) | 391 | ||
96 | Magnit PJSC (c) (f) (g) | 238 | ||
15,021 | Magnitogorsk Iron & Steel Works PJSC (c) (f) (g) | 579 | ||
47 | MMC Norilsk Nickel PJSC (c) (f) (g) | 750 | ||
2,140 | Mobile TeleSystems PJSC (c) (f) (g) | 401 | ||
1,668 | Moscow Exchange MICEX-RTS PJSC (c) (f) (g) | 132 | ||
4,741 | Novolipetsk Steel PJSC (c) (f) (g) | 709 | ||
85 | Polyus PJSC (c) (f) (g) | 754 | ||
676 | Severstal PAO (c) (f) (g) | 760 | ||
10,776 | Sistema PJSFC (c) (f) (g) | 107 | ||
3,253 | Tatneft PJSC (c) (f) (g) | 973 | ||
6,488 | ||||
South Africa – 6.5% | ||||
1,497 | Absa Group Ltd. (c) | 19,411 | ||
770 | Aspen Pharmacare Holdings Ltd. (c) | 10,428 | ||
412 | Bid Corp., Ltd. (c) | 8,979 | ||
460 | Bidvest Group (The) Ltd. | 7,042 | ||
126 | Capitec Bank Holdings Ltd. (c) | 20,067 | ||
479 | Clicks Group Ltd. | 10,131 |
Shares | Description | Value | ||
South Africa (Continued) | ||||
1,670 | Discovery Ltd. (b) (c) | $20,803 | ||
320 | Exxaro Resources Ltd. (c) | 4,838 | ||
3,543 | FirstRand Ltd. (c) | 18,700 | ||
500 | Foschini Group (The) Ltd. | 5,043 | ||
2,790 | Kumba Iron Ore Ltd. (c) | 123,933 | ||
339 | Mr Price Group Ltd. (c) | 5,005 | ||
2,325 | MultiChoice Group | 20,960 | ||
723 | Naspers Ltd., Class N (c) | 81,657 | ||
13,792 | Old Mutual Ltd. (c) | 12,978 | ||
3,165 | Pepkor Holdings Ltd. (d) (e) | 5,025 | ||
1,682 | Remgro Ltd. (c) | 17,203 | ||
3,575 | Sanlam Ltd. (c) | 17,600 | ||
744 | Shoprite Holdings Ltd. (c) | 12,009 | ||
677 | SPAR Group (The) Ltd. (c) | 7,856 | ||
1,596 | Standard Bank Group Ltd. (c) | 19,828 | ||
1,843 | Vodacom Group Ltd. | 20,180 | ||
1,156 | Woolworths Holdings Ltd. (c) | 4,554 | ||
474,230 | ||||
Taiwan – 27.5% | ||||
58,286 | Asia Cement Corp. (c) | 98,422 | ||
5,496 | Chunghwa Telecom Co., Ltd. (c) | 24,341 | ||
32,968 | CTBC Financial Holding Co., Ltd. (c) | 33,598 | ||
29,068 | E.Sun Financial Holding Co., Ltd. (c) | 33,350 | ||
9,874 | Far EasTone Telecommunications Co., Ltd. (c) | 25,300 | ||
33,148 | First Financial Holding Co., Ltd. (c) | 32,780 | ||
42,216 | Formosa Chemicals & Fibre Corp. (c) | 115,869 | ||
37,475 | Hua Nan Financial Holdings Co., Ltd. (c) | 31,700 | ||
233,750 | Inventec Corp. (c) | 200,372 | ||
23,840 | Mega Financial Holding Co., Ltd. (c) | 35,598 | ||
90,000 | Pegatron Corp. (c) | 226,626 | ||
2,043 | President Chain Store Corp. (c) | 18,738 | ||
17,000 | Shanghai Commercial & Savings Bank (The) Ltd. (c) | 29,627 | ||
81,279 | Shin Kong Financial Holding Co., Ltd. (c) | 30,422 | ||
54,999 | SinoPac Financial Holdings Co., Ltd. (c) | 35,175 | ||
115,591 | Synnex Technology International Corp. (c) | 301,722 | ||
42,237 | Taishin Financial Holding Co., Ltd. (c) | 30,046 | ||
79,000 | Taiwan Business Bank (c) | 35,243 | ||
51,946 | Taiwan Cement Corp. (c) | 90,099 | ||
34,592 | Taiwan Cooperative Financial Holding Co., Ltd. (c) | 35,504 | ||
6,140 | Taiwan Mobile Co., Ltd. (c) | 22,468 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Taiwan (Continued) | ||||
8,377 | Uni-President Enterprises Corp. (c) | $19,118 | ||
219,000 | Wistron Corp. (c) | 226,661 | ||
124,474 | WPG Holdings Ltd. (c) | 242,495 | ||
30,951 | Yuanta Financial Holding Co., Ltd. (c) | 28,355 | ||
2,003,629 | ||||
Thailand – 4.7% | ||||
6,000 | Airports of Thailand PCL (b) | 11,955 | ||
8,300 | B Grimm Power PCL | 8,799 | ||
5,800 | Bangkok Bank PCL (c) | 23,763 | ||
14,600 | Bangkok Dusit Medical Services PCL (c) | 10,991 | ||
41,900 | Bangkok Expressway & Metro PCL | 10,963 | ||
11,100 | Berli Jucker PCL | 12,018 | ||
52,500 | BTS Group Holdings PCL | 14,526 | ||
2,400 | Bumrungrad Hospital PCL | 11,296 | ||
13,600 | Charoen Pokphand Foods PCL | 9,857 | ||
5,500 | CP ALL PCL | 10,752 | ||
2,000 | Electricity Generating PCL | 10,226 | ||
8,200 | Gulf Energy Development PCL | 12,639 | ||
36,300 | Home Product Center PCL | 17,358 | ||
61,600 | Krung Thai Bank PCL | 25,566 | ||
67,900 | Land & Houses PCL | 19,400 | ||
11,600 | Muangthai Capital PCL | 18,316 | ||
10,300 | Osotspa PCL | 11,617 | ||
5,900 | PTT Exploration & Production PCL | 25,552 | ||
8,900 | PTT Global Chemical PCL | 13,584 | ||
17,900 | PTT PCL (c) | 20,913 | ||
900 | Siam Cement (The) PCL (c) | 10,184 | ||
21,400 | Thai Beverage PCL (c) | 11,261 | ||
16,100 | Thai Union Group PCL | 9,152 | ||
4,800 | Total Access Communication PCL (c) | 7,065 | ||
52,100 | True Corp PCL | 8,070 | ||
345,823 | ||||
Turkey – 0.7% | ||||
4,531 | Akbank T.A.S. (c) | 2,233 | ||
588 | Arcelik A.S. | 2,425 | ||
2,373 | Aselsan Elektronik Sanayi Ve Ticaret A.S. (c) | 3,899 | ||
1,063 | BIM Birlesik Magazalar A.S. (c) | 6,129 | ||
1,647 | Eregli Demir ve Celik Fabrikalari T.A.S. (c) | 3,611 | ||
115 | Ford Otomotiv Sanayi A.S. | 2,341 | ||
1,653 | KOC Holding A.S. | 4,468 | ||
1,028 | Sasa Polyester Sanayi A.S. (h) | 4,172 | ||
2,786 | Turk Telekomunikasyon A.S. | 1,979 | ||
1,361 | Turkcell Iletisim Hizmetleri A.S. | 2,091 | ||
2,614 | Turkiye Garanti Bankasi A.S. | 2,174 |
Shares | Description | Value | ||
Turkey (Continued) | ||||
4,653 | Turkiye Is Bankasi A.S., Class C (c) | $2,797 | ||
326 | Turkiye Petrol Rafinerileri A.S. (b) | 4,764 | ||
4,387 | Turkiye Sise ve Cam Fabrikalari A.S. (c) | 4,552 | ||
10,021 | Yapi ve Kredi Bankasi A.S. (c) | 2,784 | ||
50,419 | ||||
Total Common Stocks | 7,234,832 | |||
(Cost $7,018,358) | ||||
REAL ESTATE INVESTMENT TRUSTS (a) – 0.2% | ||||
Mexico – 0.1% | ||||
5,702 | Fibra Uno Administracion S.A. de C.V. | 6,679 | ||
South Africa – 0.1% | ||||
5,694 | Growthpoint Properties Ltd. | 5,736 | ||
Total Real Estate Investment Trusts | 12,415 | |||
(Cost $14,041) | ||||
Total Investments – 99.4% | 7,247,247 | |||
(Cost $7,032,399) | ||||
Net Other Assets and Liabilities – 0.6% | 45,061 | |||
Net Assets – 100.0% | $7,292,308 |
(a) | Portfolio securities are categorized based upon their country of incorporation, which can be different from the country categorization of the Fund’s underlying index. For a breakdown of the portfolio securities by sector, please see the Fund Performance Overview. |
(b) | Non-income producing security. |
(c) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At March 31, 2022, securities noted as such are valued at $5,667,359 or 77.7% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(e) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
(f) | Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by First Trust Advisors L.P., the Fund’s advisor. |
(g) | This security’s value was determined using significant unobservable inputs (see Note 2A – Portfolio Valuation in the Notes to Financial Statements). |
(h) | Non-income producing security which makes payment-in-kind (“PIK”) distributions. For the fiscal year ended March 31, 2022, the Fund received 182 PIK shares of Sasa Polyester Sanayi A.S. |
GDR | Global Depositary Receipt |
Currency Exposure Diversification | % of Total Investments |
New Taiwan Dollar | 27.6% |
Indian Rupee | 20.1 |
Hong Kong Dollar | 16.0 |
Brazilian Real | 10.9 |
South African Rand | 6.7 |
Mexican Peso | 4.9 |
Thai Baht | 4.6 |
Indonesian Rupiah | 2.9 |
Malaysian Ringgit | 1.6 |
Polish Zloty | 1.1 |
Chilean Peso | 0.9 |
Philippine Peso | 0.8 |
Turkish Lira | 0.7 |
Hungarian Forint | 0.4 |
United States Dollar | 0.3 |
Czech Republic Koruna | 0.2 |
Singapore Dollar | 0.2 |
Russian Ruble | 0.1 |
Total | 100.0% |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Bermuda | $ 21,999 | $ 21,999 | $ — | $ — |
Brazil | 786,728 | 786,728 | — | — |
Cayman Islands | 379,459 | 34,561 | 344,898 | — |
Chile | 68,780 | 14,485 | 54,295 | — |
Malaysia | 115,986 | 9,115 | 106,871 | — |
Mexico | 346,144 | 346,144 | — | — |
Netherlands | 36 | — | — | 36 |
Russia | 6,488 | — | — | 6,488 |
South Africa | 474,230 | 68,381 | 405,849 | — |
Turkey | 50,419 | 24,414 | 26,005 | — |
Other Country Categories* | 4,984,563 | — | 4,984,563 | — |
Real Estate Investment Trusts* | 12,415 | 12,415 | — | — |
Total Investments | $ 7,247,247 | $ 1,318,242 | $ 5,922,481 | $ 6,524 |
* | See Portfolio of Investments for country breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 97.0% | ||||
Aerospace & Defense – 1.6% | ||||
212 | General Dynamics Corp. | $51,130 | ||
306 | HEICO Corp. | 46,983 | ||
207 | L3Harris Technologies, Inc. | 51,433 | ||
124 | Lockheed Martin Corp. | 54,734 | ||
114 | Northrop Grumman Corp. | 50,983 | ||
514 | Raytheon Technologies Corp. | 50,922 | ||
571 | Textron, Inc. | 42,471 | ||
348,656 | ||||
Air Freight & Logistics – 0.5% | ||||
329 | Expeditors International of Washington, Inc. | 33,939 | ||
171 | FedEx Corp. | 39,568 | ||
206 | United Parcel Service, Inc., Class B | 44,179 | ||
117,686 | ||||
Automobiles – 0.4% | ||||
5,220 | Ford Motor Co. | 88,270 | ||
Banks – 2.7% | ||||
969 | Bank of America Corp. | 39,942 | ||
715 | Citigroup, Inc. | 38,181 | ||
915 | Citizens Financial Group, Inc. | 41,477 | ||
992 | Fifth Third Bancorp | 42,696 | ||
209 | First Republic Bank | 33,879 | ||
2,801 | Huntington Bancshares, Inc. | 40,951 | ||
272 | JPMorgan Chase & Co. | 37,079 | ||
1,866 | KeyCorp | 41,761 | ||
281 | M&T Bank Corp. | 47,630 | ||
215 | PNC Financial Services Group (The), Inc. | 39,657 | ||
1,982 | Regions Financial Corp. | 44,119 | ||
739 | Truist Financial Corp. | 41,901 | ||
769 | US Bancorp | 40,872 | ||
901 | Wells Fargo & Co. | 43,662 | ||
573,807 | ||||
Beverages – 0.9% | ||||
557 | Brown-Forman Corp., Class B | 37,330 | ||
685 | Coca-Cola (The) Co. | 42,470 | ||
162 | Constellation Brands, Inc., Class A | 37,312 | ||
1,101 | Keurig Dr. Pepper, Inc. | 41,728 | ||
234 | PepsiCo, Inc. | 39,167 | ||
198,007 | ||||
Biotechnology – 1.3% | ||||
649 | AbbVie, Inc. | 105,209 | ||
391 | Amgen, Inc. | 94,552 | ||
1,210 | Gilead Sciences, Inc. | 71,934 | ||
271,695 | ||||
Building Products – 0.6% | ||||
813 | Carrier Global Corp. | 37,292 |
Shares | Description | Value | ||
Building Products (Continued) | ||||
541 | Johnson Controls International PLC | $35,473 | ||
629 | Masco Corp. | 32,079 | ||
218 | Trane Technologies PLC | 33,289 | ||
138,133 | ||||
Capital Markets – 3.8% | ||||
143 | Ameriprise Financial, Inc. | 42,951 | ||
744 | Bank of New York Mellon (The) Corp. | 36,925 | ||
47 | BlackRock, Inc. | 35,916 | ||
334 | Blackstone, Inc. | 42,398 | ||
787 | Carlyle Group (The), Inc. | 38,492 | ||
514 | Charles Schwab (The) Corp. | 43,335 | ||
189 | CME Group, Inc. | 44,956 | ||
1,290 | Franklin Resources, Inc. | 36,017 | ||
113 | Goldman Sachs Group (The), Inc. | 37,301 | ||
316 | Intercontinental Exchange, Inc. | 41,750 | ||
579 | KKR & Co., Inc. | 33,854 | ||
105 | MarketAxess Holdings, Inc. | 35,721 | ||
111 | Moody’s Corp. | 37,453 | ||
441 | Morgan Stanley | 38,543 | ||
71 | MSCI, Inc. | 35,704 | ||
206 | Nasdaq, Inc. | 36,709 | ||
361 | Northern Trust Corp. | 42,038 | ||
430 | Raymond James Financial, Inc. | 47,261 | ||
92 | S&P Global, Inc. | 37,737 | ||
463 | State Street Corp. | 40,337 | ||
219 | T Rowe Price Group, Inc. | 33,111 | ||
818,509 | ||||
Chemicals – 1.4% | ||||
65 | Air Products and Chemicals, Inc. | 16,244 | ||
84 | Albemarle Corp. | 18,577 | ||
117 | Celanese Corp. | 16,716 | ||
859 | Corteva, Inc. | 49,375 | ||
348 | Dow, Inc. | 22,175 | ||
546 | DuPont de Nemours, Inc. | 40,175 | ||
163 | Eastman Chemical Co. | 18,266 | ||
84 | Ecolab, Inc. | 14,831 | ||
131 | International Flavors & Fragrances, Inc. | 17,204 | ||
215 | LyondellBasell Industries N.V., Class A | 22,106 | ||
256 | PPG Industries, Inc. | 33,554 | ||
125 | Sherwin-Williams (The) Co. | 31,202 | ||
300,425 | ||||
Commercial Services & Supplies – 0.9% | ||||
100 | Cintas Corp. | 42,539 | ||
163 | Republic Services, Inc. | 21,598 | ||
3,169 | Rollins, Inc. | 111,073 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Commercial Services & Supplies (Continued) | ||||
136 | Waste Management, Inc. | $21,556 | ||
196,766 | ||||
Communications Equipment – 1.4% | ||||
1,775 | Cisco Systems, Inc. | 98,974 | ||
414 | Motorola Solutions, Inc. | 100,271 | ||
367 | Ubiquiti, Inc. | 106,855 | ||
306,100 | ||||
Construction Materials – 0.4% | ||||
100 | Martin Marietta Materials, Inc. | 38,489 | ||
213 | Vulcan Materials Co. | 39,128 | ||
77,617 | ||||
Consumer Finance – 0.9% | ||||
909 | Ally Financial, Inc. | 39,524 | ||
270 | American Express Co. | 50,490 | ||
304 | Capital One Financial Corp. | 39,912 | ||
374 | Discover Financial Services | 41,211 | ||
951 | Synchrony Financial | 33,104 | ||
204,241 | ||||
Containers & Packaging – 0.4% | ||||
91 | Avery Dennison Corp. | 15,831 | ||
459 | Ball Corp. | 41,310 | ||
420 | International Paper Co. | 19,383 | ||
76,524 | ||||
Distributors – 1.2% | ||||
773 | Genuine Parts Co. | 97,414 | ||
1,806 | LKQ Corp. | 82,010 | ||
191 | Pool Corp. | 80,764 | ||
260,188 | ||||
Diversified Telecommunication Services – 1.0% | ||||
4,572 | AT&T, Inc. | 108,036 | ||
2,167 | Verizon Communications, Inc. | 110,387 | ||
218,423 | ||||
Electric Utilities – 1.4% | ||||
371 | Alliant Energy Corp. | 23,180 | ||
256 | American Electric Power Co., Inc. | 25,541 | ||
217 | Duke Energy Corp. | 24,230 | ||
332 | Edison International | 23,273 | ||
202 | Entergy Corp. | 23,584 | ||
332 | Evergy, Inc. | 22,689 | ||
251 | Eversource Energy | 22,136 | ||
533 | Exelon Corp. | 25,387 | ||
547 | FirstEnergy Corp. | 25,085 | ||
244 | NextEra Energy, Inc. | 20,669 |
Shares | Description | Value | ||
Electric Utilities (Continued) | ||||
757 | PPL Corp. | $21,620 | ||
332 | Southern (The) Co. | 24,073 | ||
335 | Xcel Energy, Inc. | 24,177 | ||
305,644 | ||||
Electrical Equipment – 0.7% | ||||
300 | AMETEK, Inc. | 39,954 | ||
255 | Eaton Corp. PLC | 38,699 | ||
475 | Emerson Electric Co. | 46,573 | ||
126 | Rockwell Automation, Inc. | 35,284 | ||
160,510 | ||||
Electronic Equipment, Instruments & Components – 3.5% | ||||
2,288 | Amphenol Corp., Class A | 172,401 | ||
977 | CDW Corp. | 174,776 | ||
566 | Cognex Corp. | 43,667 | ||
5,374 | Corning, Inc. | 198,354 | ||
1,240 | TE Connectivity Ltd. | 162,415 | ||
751,613 | ||||
Energy Equipment & Services – 0.7% | ||||
1,424 | Baker Hughes Co. | 51,848 | ||
1,502 | Halliburton Co. | 56,881 | ||
1,146 | Schlumberger N.V. | 47,341 | ||
156,070 | ||||
Entertainment – 1.1% | ||||
1,628 | Activision Blizzard, Inc. | 130,419 | ||
821 | Electronic Arts, Inc. | 103,865 | ||
234,284 | ||||
Food & Staples Retailing – 1.6% | ||||
191 | Costco Wholesale Corp. | 109,987 | ||
897 | Kroger (The) Co. | 51,461 | ||
516 | Sysco Corp. | 42,132 | ||
778 | Walgreens Boots Alliance, Inc. | 34,831 | ||
748 | Walmart, Inc. | 111,392 | ||
349,803 | ||||
Food Products – 2.0% | ||||
602 | Archer-Daniels-Midland Co. | 54,337 | ||
1,190 | Conagra Brands, Inc. | 39,948 | ||
603 | General Mills, Inc. | 40,835 | ||
210 | Hershey (The) Co. | 45,493 | ||
832 | Hormel Foods Corp. | 42,881 | ||
631 | Kellogg Co. | 40,693 | ||
1,131 | Kraft Heinz (The) Co. | 44,550 | ||
422 | McCormick & Co., Inc. | 42,116 | ||
613 | Mondelez International, Inc., Class A | 38,484 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Food Products (Continued) | ||||
467 | Tyson Foods, Inc., Class A | $41,857 | ||
431,194 | ||||
Health Care Equipment & Supplies – 4.4% | ||||
624 | Abbott Laboratories | 73,857 | ||
1,025 | Baxter International, Inc. | 79,479 | ||
350 | Becton Dickinson and Co. | 93,100 | ||
210 | Cooper (The) Cos., Inc. | 87,694 | ||
1,575 | DENTSPLY SIRONA, Inc. | 77,522 | ||
851 | Medtronic PLC | 94,418 | ||
338 | ResMed, Inc. | 81,968 | ||
361 | STERIS PLC | 87,279 | ||
329 | Stryker Corp. | 87,958 | ||
268 | Teleflex, Inc. | 95,094 | ||
705 | Zimmer Biomet Holdings, Inc. | 90,169 | ||
948,538 | ||||
Health Care Providers & Services – 3.4% | ||||
306 | AmerisourceBergen Corp. | 47,341 | ||
190 | Anthem, Inc. | 93,332 | ||
1,707 | Cardinal Health, Inc. | 96,787 | ||
383 | Cigna Corp. | 91,771 | ||
395 | CVS Health Corp. | 39,978 | ||
342 | HCA Healthcare, Inc. | 85,712 | ||
190 | Humana, Inc. | 82,682 | ||
164 | McKesson Corp. | 50,205 | ||
508 | Quest Diagnostics, Inc. | 69,525 | ||
175 | UnitedHealth Group, Inc. | 89,245 | ||
746,578 | ||||
Hotels, Restaurants & Leisure – 2.5% | ||||
719 | Darden Restaurants, Inc. | 95,591 | ||
192 | Domino’s Pizza, Inc. | 78,146 | ||
404 | McDonald’s Corp. | 99,901 | ||
2,412 | MGM Resorts International | 101,159 | ||
926 | Starbucks Corp. | 84,238 | ||
780 | Yum! Brands, Inc. | 92,454 | ||
551,489 | ||||
Household Durables – 1.1% | ||||
1,000 | DR Horton, Inc. | 74,510 | ||
795 | Garmin Ltd. | 94,295 | ||
933 | Lennar Corp., Class A | 75,732 | ||
244,537 | ||||
Household Products – 0.8% | ||||
397 | Church & Dwight Co., Inc. | 39,454 | ||
232 | Clorox (The) Co. | 32,255 | ||
475 | Colgate-Palmolive Co. | 36,019 | ||
284 | Kimberly-Clark Corp. | 34,978 | ||
249 | Procter & Gamble (The) Co. | 38,047 | ||
180,753 |
Shares | Description | Value | ||
Independent Power & Renewable Electricity Producers – 0.1% | ||||
935 | AES (The) Corp. | $24,058 | ||
Industrial Conglomerates – 1.5% | ||||
248 | 3M Co. | 36,922 | ||
468 | General Electric Co. | 42,822 | ||
212 | Honeywell International, Inc. | 41,251 | ||
407 | Roper Technologies, Inc. | 192,198 | ||
313,193 | ||||
Insurance – 3.3% | ||||
739 | Aflac, Inc. | 47,584 | ||
367 | Allstate (The) Corp. | 50,833 | ||
761 | American International Group, Inc. | 47,768 | ||
144 | Aon PLC, Class A | 46,891 | ||
254 | Arthur J. Gallagher & Co. | 44,348 | ||
615 | Brown & Brown, Inc. | 44,446 | ||
224 | Chubb Ltd. | 47,914 | ||
379 | Cincinnati Financial Corp. | 51,529 | ||
626 | Hartford Financial Services Group (The), Inc. | 44,953 | ||
249 | Marsh & McLennan Cos., Inc. | 42,435 | ||
691 | MetLife, Inc. | 48,563 | ||
596 | Principal Financial Group, Inc. | 43,752 | ||
422 | Progressive (The) Corp. | 48,104 | ||
399 | Prudential Financial, Inc. | 47,150 | ||
276 | Travelers (The) Cos., Inc. | 50,434 | ||
706,704 | ||||
Internet & Direct Marketing Retail – 0.4% | ||||
1,628 | eBay, Inc. | 93,219 | ||
IT Services – 3.4% | ||||
106 | Accenture PLC, Class A | 35,746 | ||
179 | Automatic Data Processing, Inc. | 40,730 | ||
236 | Broadridge Financial Solutions, Inc. | 36,747 | ||
2,255 | Cognizant Technology Solutions Corp., Class A | 202,206 | ||
404 | Fidelity National Information Services, Inc. | 40,570 | ||
326 | Global Payments, Inc. | 44,610 | ||
1,497 | International Business Machines Corp. | 194,640 | ||
123 | Mastercard, Inc., Class A | 43,958 | ||
323 | Paychex, Inc. | 44,080 | ||
204 | Visa, Inc., Class A | 45,241 | ||
728,528 | ||||
Life Sciences Tools & Services – 2.1% | ||||
551 | Agilent Technologies, Inc. | 72,914 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Life Sciences Tools & Services (Continued) | ||||
170 | Bio-Techne Corp. | $73,617 | ||
267 | Danaher Corp. | 78,319 | ||
437 | PerkinElmer, Inc. | 76,239 | ||
132 | Thermo Fisher Scientific, Inc. | 77,966 | ||
187 | West Pharmaceutical Services, Inc. | 76,802 | ||
455,857 | ||||
Machinery – 2.6% | ||||
213 | Caterpillar, Inc. | 47,461 | ||
202 | Cummins, Inc. | 41,432 | ||
129 | Deere & Co. | 53,594 | ||
243 | Dover Corp. | 38,127 | ||
579 | Fortive Corp. | 35,278 | ||
187 | IDEX Corp. | 35,853 | ||
179 | Illinois Tool Works, Inc. | 37,483 | ||
711 | Ingersoll Rand, Inc. | 35,799 | ||
506 | Otis Worldwide Corp. | 38,937 | ||
501 | PACCAR, Inc. | 44,123 | ||
139 | Parker-Hannifin Corp. | 39,443 | ||
234 | Stanley Black & Decker, Inc. | 32,711 | ||
480 | Westinghouse Air Brake Technologies Corp. | 46,161 | ||
369 | Xylem, Inc. | 31,461 | ||
557,863 | ||||
Media – 2.8% | ||||
2,237 | Comcast Corp., Class A | 104,736 | ||
2,935 | Fox Corp., Class A | 115,786 | ||
1,478 | Omnicom Group, Inc. | 125,453 | ||
3,592 | Paramount Global, Class B | 135,813 | ||
17,701 | Sirius XM Holdings, Inc. | 117,181 | ||
598,969 | ||||
Metals & Mining – 0.3% | ||||
473 | Freeport-McMoRan, Inc. | 23,527 | ||
319 | Newmont Corp. | 25,345 | ||
173 | Nucor Corp. | 25,716 | ||
74,588 | ||||
Multiline Retail – 0.9% | ||||
459 | Dollar General Corp. | 102,187 | ||
468 | Target Corp. | 99,319 | ||
201,506 | ||||
Multi-Utilities – 1.0% | ||||
256 | Ameren Corp. | 24,003 | ||
813 | CenterPoint Energy, Inc. | 24,910 | ||
349 | CMS Energy Corp. | 24,409 | ||
267 | Consolidated Edison, Inc. | 25,280 | ||
291 | Dominion Energy, Inc. | 24,726 | ||
189 | DTE Energy Co. | 24,988 | ||
342 | Public Service Enterprise Group, Inc. | 23,940 |
Shares | Description | Value | ||
Multi-Utilities (Continued) | ||||
172 | Sempra Energy | $28,917 | ||
234 | WEC Energy Group, Inc. | 23,355 | ||
224,528 | ||||
Oil, Gas & Consumable Fuels – 3.3% | ||||
338 | Cheniere Energy, Inc. | 46,864 | ||
293 | Chevron Corp. | 47,709 | ||
475 | ConocoPhillips | 47,500 | ||
778 | Devon Energy Corp. | 46,003 | ||
387 | EOG Resources, Inc. | 46,142 | ||
561 | Exxon Mobil Corp. | 46,333 | ||
464 | Hess Corp. | 49,667 | ||
2,164 | Kinder Morgan, Inc. | 40,921 | ||
537 | Marathon Petroleum Corp. | 45,913 | ||
1,184 | Occidental Petroleum Corp. | 67,180 | ||
583 | ONEOK, Inc. | 41,177 | ||
475 | Phillips 66 | 41,035 | ||
189 | Pioneer Natural Resources Co. | 47,256 | ||
457 | Valero Energy Corp. | 46,404 | ||
1,319 | Williams (The) Cos., Inc. | 44,068 | ||
704,172 | ||||
Personal Products – 0.4% | ||||
293 | Estee Lauder (The) Cos., Inc., Class A | 79,790 | ||
Pharmaceuticals – 2.7% | ||||
1,410 | Bristol-Myers Squibb Co. | 102,972 | ||
318 | Eli Lilly & Co. | 91,066 | ||
514 | Johnson & Johnson | 91,096 | ||
1,147 | Merck & Co., Inc. | 94,111 | ||
1,489 | Pfizer, Inc. | 77,086 | ||
6,493 | Viatris, Inc. | 70,644 | ||
360 | Zoetis, Inc. | 67,892 | ||
594,867 | ||||
Professional Services – 1.9% | ||||
151 | Equifax, Inc. | 35,802 | ||
317 | Jacobs Engineering Group, Inc. | 43,686 | ||
2,251 | Leidos Holdings, Inc. | 243,153 | ||
371 | TransUnion | 38,339 | ||
193 | Verisk Analytics, Inc. | 41,424 | ||
402,404 | ||||
Road & Rail – 1.0% | ||||
1,173 | CSX Corp. | 43,929 | ||
216 | JB Hunt Transport Services, Inc. | 43,370 | ||
148 | Norfolk Southern Corp. | 42,212 | ||
123 | Old Dominion Freight Line, Inc. | 36,738 | ||
175 | Union Pacific Corp. | 47,812 | ||
214,061 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Semiconductors & Semiconductor Equipment – 13.7% | ||||
1,138 | Analog Devices, Inc. | $187,975 | ||
1,272 | Applied Materials, Inc. | 167,650 | ||
301 | Broadcom, Inc. | 189,534 | ||
1,444 | Entegris, Inc. | 189,539 | ||
3,885 | Intel Corp. | 192,541 | ||
465 | KLA Corp. | 170,218 | ||
278 | Lam Research Corp. | 149,455 | ||
2,287 | Marvell Technology, Inc. | 164,001 | ||
2,298 | Microchip Technology, Inc. | 172,672 | ||
2,148 | Micron Technology, Inc. | 167,308 | ||
406 | Monolithic Power Systems, Inc. | 197,186 | ||
680 | NVIDIA Corp. | 185,545 | ||
878 | NXP Semiconductors N.V. | 162,500 | ||
1,094 | QUALCOMM, Inc. | 167,185 | ||
1,290 | Skyworks Solutions, Inc. | 171,931 | ||
1,224 | Teradyne, Inc. | 144,713 | ||
1,062 | Texas Instruments, Inc. | 194,856 | ||
2,974,809 | ||||
Software – 5.0% | ||||
4,140 | Bentley Systems, Inc., Class B | 182,905 | ||
311 | Intuit, Inc. | 149,541 | ||
595 | Microsoft Corp. | 183,444 | ||
7,702 | NortonLifeLock, Inc. | 204,257 | ||
2,294 | Oracle Corp. | 189,783 | ||
2,441 | SS&C Technologies Holdings, Inc. | 183,124 | ||
1,093,054 | ||||
Specialty Retail – 2.8% | ||||
1,552 | Bath & Body Works, Inc. | 74,186 | ||
1,067 | Best Buy Co., Inc. | 96,990 | ||
261 | Home Depot (The), Inc. | 78,125 | ||
419 | Lowe’s Cos., Inc. | 84,718 | ||
949 | Ross Stores, Inc. | 85,846 | ||
1,428 | TJX (The) Cos., Inc. | 86,508 | ||
454 | Tractor Supply Co. | 105,950 | ||
612,323 | ||||
Technology Hardware, Storage & Peripherals – 3.6% | ||||
1,127 | Apple, Inc. | 196,785 | ||
12,688 | Hewlett Packard Enterprise Co. | 212,017 | ||
5,312 | HP, Inc. | 192,826 | ||
2,175 | NetApp, Inc. | 180,525 | ||
782,153 | ||||
Textiles, Apparel & Luxury Goods – 0.8% | ||||
649 | NIKE, Inc., Class B | 87,329 | ||
1,481 | VF Corp. | 84,210 | ||
171,539 |
Shares | Description | Value | ||
Tobacco – 0.4% | ||||
857 | Altria Group, Inc. | $44,778 | ||
427 | Philip Morris International, Inc. | 40,113 | ||
84,891 | ||||
Trading Companies & Distributors – 0.3% | ||||
306 | Fastenal Co. | 18,177 | ||
85 | WW Grainger, Inc. | 43,842 | ||
62,019 | ||||
Water Utilities – 0.1% | ||||
120 | American Water Works Co., Inc. | 19,864 | ||
Total Common Stocks | 21,031,019 | |||
(Cost $18,584,424) | ||||
REAL ESTATE INVESTMENT TRUSTS – 2.9% | ||||
Equity Real Estate Investment Trusts – 2.9% | ||||
106 | Alexandria Real Estate Equities, Inc. | 21,333 | ||
81 | American Tower Corp. | 20,349 | ||
94 | AvalonBay Communities, Inc. | 23,347 | ||
204 | Boston Properties, Inc. | 26,275 | ||
132 | Camden Property Trust | 21,938 | ||
113 | Crown Castle International Corp. | 20,860 | ||
134 | Digital Realty Trust, Inc. | 19,001 | ||
358 | Duke Realty Corp. | 20,786 | ||
28 | Equinix, Inc. | 20,765 | ||
268 | Equity LifeStyle Properties, Inc. | 20,497 | ||
261 | Equity Residential | 23,469 | ||
67 | Essex Property Trust, Inc. | 23,147 | ||
104 | Extra Space Storage, Inc. | 21,382 | ||
655 | Healthpeak Properties, Inc. | 22,486 | ||
521 | Invitation Homes, Inc. | 20,934 | ||
103 | Mid-America Apartment Communities, Inc. | 21,573 | ||
139 | Prologis, Inc. | 22,446 | ||
63 | Public Storage | 24,588 | ||
331 | Realty Income Corp. | 22,938 | ||
61 | SBA Communications Corp. | 20,990 | ||
148 | Simon Property Group, Inc. | 19,471 | ||
112 | Sun Communities, Inc. | 19,632 | ||
395 | UDR, Inc. | 22,661 | ||
462 | Ventas, Inc. | 28,533 | ||
785 | VICI Properties, Inc. | 22,341 | ||
276 | Welltower, Inc. | 26,535 | ||
573 | Weyerhaeuser Co. | 21,717 |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (Continued) | ||||
Equity Real Estate Investment Trusts (Continued) | ||||
288 | WP Carey, Inc. | $23,282 | ||
Total Real Estate Investment Trusts | 623,276 | |||
(Cost $492,898) | ||||
Total Investments – 99.9% | 21,654,295 | |||
(Cost $19,077,322) | ||||
Net Other Assets and Liabilities – 0.1% | 23,540 | |||
Net Assets – 100.0% | $21,677,835 |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 21,031,019 | $ 21,031,019 | $ — | $ — |
Real Estate Investment Trusts* | 623,276 | 623,276 | — | — |
Total Investments | $ 21,654,295 | $ 21,654,295 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 90.2% | ||||
Aerospace & Defense – 1.9% | ||||
963 | BWX Technologies, Inc. | $51,867 | ||
333 | Curtiss-Wright Corp. | 50,003 | ||
1,448 | Howmet Aerospace, Inc. | 52,041 | ||
248 | Huntington Ingalls Industries, Inc. | 49,461 | ||
1,070 | Spirit AeroSystems Holdings, Inc., Class A | 52,313 | ||
421 | Woodward, Inc. | 52,587 | ||
308,272 | ||||
Air Freight & Logistics – 0.3% | ||||
428 | CH Robinson Worldwide, Inc. | 46,100 | ||
Auto Components – 0.9% | ||||
1,284 | BorgWarner, Inc. | 49,948 | ||
1,661 | Gentex Corp. | 48,451 | ||
316 | Lear Corp. | 45,058 | ||
143,457 | ||||
Automobiles – 0.6% | ||||
1,535 | Harley-Davidson, Inc. | 60,479 | ||
558 | Thor Industries, Inc. | 43,915 | ||
104,394 | ||||
Banks – 4.7% | ||||
732 | Bank OZK | 31,256 | ||
323 | BOK Financial Corp. | 30,346 | ||
391 | Comerica, Inc. | 35,358 | ||
495 | Commerce Bancshares, Inc. | 35,437 | ||
270 | Cullen/Frost Bankers, Inc. | 37,371 | ||
433 | East West Bancorp, Inc. | 34,216 | ||
41 | First Citizens BancShares, Inc., Class A | 27,290 | ||
669 | First Financial Bankshares, Inc. | 29,516 | ||
2,084 | First Horizon Corp. | 48,953 | ||
599 | Glacier Bancorp, Inc. | 30,118 | ||
754 | PacWest Bancorp | 32,520 | ||
357 | Pinnacle Financial Partners, Inc. | 32,873 | ||
415 | Popular, Inc. | 33,922 | ||
471 | Prosperity Bancshares, Inc. | 32,678 | ||
105 | Signature Bank | 30,816 | ||
425 | SouthState Corp. | 34,676 | ||
711 | Synovus Financial Corp. | 34,839 | ||
321 | UMB Financial Corp. | 31,188 | ||
937 | United Bankshares, Inc. | 32,683 | ||
2,475 | Valley National Bancorp | 32,224 | ||
610 | Webster Financial Corp. | 34,233 | ||
316 | Western Alliance Bancorp | 26,171 | ||
539 | Zions Bancorp N.A. | 35,337 | ||
764,021 | ||||
Beverages – 0.3% | ||||
1,031 | Molson Coors Beverage Co., Class B | 55,035 |
Shares | Description | Value | ||
Building Products – 2.6% | ||||
537 | A.O. Smith Corp. | $34,309 | ||
339 | Advanced Drainage Systems, Inc. | 40,277 | ||
348 | Allegion PLC | 38,203 | ||
397 | Armstrong World Industries, Inc. | 35,734 | ||
186 | Carlisle Cos., Inc. | 45,741 | ||
431 | Fortune Brands Home & Security, Inc. | 32,015 | ||
142 | Lennox International, Inc. | 36,616 | ||
509 | Owens Corning | 46,573 | ||
331 | Simpson Manufacturing Co., Inc. | 36,092 | ||
410 | UFP Industries, Inc. | 31,636 | ||
1,267 | Zurn Water Solutions Corp. | 44,852 | ||
422,048 | ||||
Capital Markets – 2.9% | ||||
207 | Affiliated Managers Group, Inc. | 29,177 | ||
419 | Ares Management Corp., Class A | 34,035 | ||
261 | Cboe Global Markets, Inc. | 29,864 | ||
251 | Evercore, Inc., Class A | 27,941 | ||
71 | FactSet Research Systems, Inc. | 30,825 | ||
329 | Houlihan Lokey, Inc. | 28,886 | ||
429 | Interactive Brokers Group, Inc., Class A | 28,275 | ||
1,477 | Invesco, Ltd. | 34,060 | ||
877 | Jefferies Financial Group, Inc. | 28,809 | ||
780 | Lazard Ltd., Class A | 26,910 | ||
213 | LPL Financial Holdings, Inc. | 38,911 | ||
100 | Morningstar, Inc. | 27,317 | ||
559 | SEI Investments Co. | 33,657 | ||
483 | Stifel Financial Corp. | 32,796 | ||
340 | Tradeweb Markets, Inc., Class A | 29,876 | ||
461,339 | ||||
Chemicals – 3.6% | ||||
351 | Ashland Global Holdings, Inc. | 34,542 | ||
674 | Avient Corp. | 32,352 | ||
225 | Balchem Corp. | 30,757 | ||
534 | CF Industries Holdings, Inc. | 55,034 | ||
1,123 | Chemours (The) Co. | 35,352 | ||
1,552 | Element Solutions, Inc. | 33,989 | ||
344 | FMC Corp. | 45,260 | ||
1,081 | Huntsman Corp. | 40,548 | ||
961 | Mosaic (The) Co. | 63,906 | ||
656 | Olin Corp. | 34,296 | ||
164 | Quaker Chemical Corp. | 28,341 | ||
457 | RPM International, Inc. | 37,218 | ||
235 | Scotts Miracle-Gro (The) Co. | 28,896 | ||
1,010 | Valvoline, Inc. | 31,876 | ||
389 | Westlake Corp. | 48,003 | ||
580,370 | ||||
Commercial Services & Supplies – 0.5% | ||||
305 | MSA Safety, Inc. | 40,473 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Commercial Services & Supplies (Continued) | ||||
272 | Tetra Tech, Inc. | $44,864 | ||
85,337 | ||||
Communications Equipment – 0.7% | ||||
3,014 | Juniper Networks, Inc. | 112,000 | ||
Construction & Engineering – 1.1% | ||||
362 | EMCOR Group, Inc. | 40,772 | ||
1,495 | MDU Resources Group, Inc. | 39,842 | ||
402 | Quanta Services, Inc. | 52,907 | ||
184 | Valmont Industries, Inc. | 43,902 | ||
177,423 | ||||
Construction Materials – 0.2% | ||||
277 | Eagle Materials, Inc. | 35,556 | ||
Consumer Finance – 0.4% | ||||
680 | OneMain Holdings, Inc. | 32,239 | ||
1,728 | SLM Corp. | 31,726 | ||
63,965 | ||||
Containers & Packaging – 2.4% | ||||
376 | AptarGroup, Inc. | 44,180 | ||
417 | Crown Holdings, Inc. | 52,162 | ||
2,364 | Graphic Packaging Holding Co. | 47,375 | ||
339 | Packaging Corp. of America | 52,921 | ||
683 | Sealed Air Corp. | 45,734 | ||
1,076 | Silgan Holdings, Inc. | 49,743 | ||
796 | Sonoco Products Co. | 49,798 | ||
1,039 | WestRock Co. | 48,864 | ||
390,777 | ||||
Diversified Consumer Services – 1.0% | ||||
5,482 | ADT, Inc. | 41,609 | ||
2,457 | H&R Block, Inc. | 63,980 | ||
815 | Service Corp. International | 53,643 | ||
159,232 | ||||
Diversified Financial Services – 0.6% | ||||
470 | Apollo Global Management Inc | 29,135 | ||
1,037 | Equitable Holdings, Inc. | 32,054 | ||
513 | Voya Financial, Inc. | 34,037 | ||
95,226 | ||||
Diversified Telecommunication Services – 0.6% | ||||
8,577 | Lumen Technologies, Inc. | 96,663 | ||
Electric Utilities – 1.5% | ||||
969 | Hawaiian Electric Industries, Inc. | 40,998 |
Shares | Description | Value | ||
Electric Utilities (Continued) | ||||
356 | IDACORP, Inc. | $41,068 | ||
935 | NRG Energy, Inc. | 35,867 | ||
1,048 | OGE Energy Corp. | 42,738 | ||
570 | Pinnacle West Capital Corp. | 44,517 | ||
760 | Portland General Electric Co. | 41,914 | ||
247,102 | ||||
Electrical Equipment – 1.5% | ||||
218 | Acuity Brands, Inc. | 41,268 | ||
583 | EnerSys | 43,474 | ||
221 | Hubbell, Inc. | 40,613 | ||
271 | Regal Rexnord Corp. | 40,319 | ||
5,141 | Vertiv Holdings Co. | 71,974 | ||
237,648 | ||||
Electronic Equipment, Instruments & Components – 2.6% | ||||
1,825 | Jabil, Inc. | 112,657 | ||
147 | Littelfuse, Inc. | 36,663 | ||
2,939 | National Instruments Corp. | 119,294 | ||
1,122 | TD SYNNEX Corp. | 115,802 | ||
1,498 | Vontier Corp. | 38,034 | ||
422,450 | ||||
Energy Equipment & Services – 0.4% | ||||
3,694 | NOV, Inc. | 72,439 | ||
Entertainment – 0.3% | ||||
1,340 | Warner Music Group Corp., Class A | 50,719 | ||
Food & Staples Retailing – 0.6% | ||||
1,583 | Albertsons Cos., Inc., Class A | 52,635 | ||
242 | Casey’s General Stores, Inc. | 47,957 | ||
100,592 | ||||
Food Products – 2.4% | ||||
512 | Bunge Ltd. | 56,735 | ||
1,099 | Campbell Soup Co. | 48,983 | ||
1,739 | Flowers Foods, Inc. | 44,710 | ||
494 | Ingredion, Inc. | 43,052 | ||
352 | JM Smucker (The) Co. | 47,664 | ||
754 | Lamb Weston Holdings, Inc. | 45,172 | ||
289 | Lancaster Colony Corp. | 43,104 | ||
12 | Seaboard Corp. | 50,466 | ||
379,886 | ||||
Gas Utilities – 0.7% | ||||
384 | Atmos Energy Corp. | 45,884 | ||
630 | National Fuel Gas Co. | 43,281 | ||
877 | UGI Corp. | 31,765 | ||
120,930 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Health Care Providers & Services – 7.2% | ||||
371 | Chemed Corp. | $187,930 | ||
3,011 | Encompass Health Corp. | 214,112 | ||
2,341 | Ensign Group (The), Inc. | 210,714 | ||
4,774 | Premier, Inc., Class A | 169,907 | ||
6,685 | Select Medical Holdings Corp. | 160,373 | ||
1,516 | Universal Health Services, Inc., Class B | 219,744 | ||
1,162,780 | ||||
Hotels, Restaurants & Leisure – 3.3% | ||||
1,571 | Aramark | 59,069 | ||
371 | Choice Hotels International, Inc. | 52,593 | ||
240 | Churchill Downs, Inc. | 53,227 | ||
343 | Marriott Vacations Worldwide Corp. | 54,091 | ||
648 | Texas Roadhouse, Inc. | 54,257 | ||
1,046 | Travel + Leisure Co. | 60,605 | ||
177 | Vail Resorts, Inc. | 46,068 | ||
2,427 | Wendy’s (The) Co. | 53,321 | ||
336 | Wingstop, Inc. | 39,430 | ||
646 | Wyndham Hotels & Resorts, Inc. | 54,710 | ||
527,371 | ||||
Household Durables – 1.6% | ||||
1,406 | Leggett & Platt, Inc. | 48,929 | ||
2,650 | Newell Brands, Inc. | 56,736 | ||
1,013 | PulteGroup, Inc. | 42,445 | ||
1,231 | Tempur Sealy International, Inc. | 34,370 | ||
800 | Toll Brothers, Inc. | 37,616 | ||
248 | Whirlpool Corp. | 42,849 | ||
262,945 | ||||
Household Products – 0.3% | ||||
1,522 | Reynolds Consumer Products, Inc. | 44,655 | ||
Independent Power & Renewable Electricity Producers – 0.3% | ||||
1,768 | Vistra Corp. | 41,106 | ||
Insurance – 4.6% | ||||
248 | American Financial Group, Inc. | 36,114 | ||
218 | Assurant, Inc. | 39,639 | ||
625 | Axis Capital Holdings Ltd. | 37,794 | ||
805 | CNA Financial Corp. | 39,139 | ||
177 | Erie Indemnity Co., Class A | 31,175 | ||
125 | Everest Re Group Ltd. | 37,672 | ||
652 | Fidelity National Financial, Inc. | 31,844 | ||
435 | First American Financial Corp. | 28,197 | ||
363 | Globe Life, Inc. | 36,518 | ||
260 | Hanover Insurance Group (The), Inc. | 38,875 | ||
579 | Kemper Corp. | 32,737 |
Shares | Description | Value | ||
Insurance (Continued) | ||||
499 | Lincoln National Corp. | $32,615 | ||
589 | Loews Corp. | 38,179 | ||
1,385 | Old Republic International Corp. | 35,830 | ||
222 | Primerica, Inc. | 30,374 | ||
311 | Reinsurance Group of America, Inc. | 34,042 | ||
202 | RenaissanceRe Holdings Ltd. | 32,019 | ||
304 | RLI Corp. | 33,631 | ||
415 | Selective Insurance Group, Inc. | 37,084 | ||
1,385 | Unum Group | 43,641 | ||
619 | W.R. Berkley Corp. | 41,219 | ||
748,338 | ||||
IT Services – 2.4% | ||||
693 | Alliance Data Systems Corp. | 38,912 | ||
719 | Concentrix Corp | 119,756 | ||
869 | Genpact Ltd. | 37,810 | ||
276 | Jack Henry & Associates, Inc. | 54,386 | ||
579 | Maximus, Inc. | 43,396 | ||
509 | TTEC Holdings, Inc. | 42,003 | ||
2,584 | Western Union (The) Co. | 48,424 | ||
384,687 | ||||
Leisure Products – 0.9% | ||||
458 | Brunswick Corp. | 37,048 | ||
569 | Hasbro, Inc. | 46,612 | ||
527 | Polaris, Inc. | 55,504 | ||
139,164 | ||||
Life Sciences Tools & Services – 1.6% | ||||
1,245 | Azenta, Inc. | 103,186 | ||
2,342 | Bruker Corp. | 150,590 | ||
253,776 | ||||
Machinery – 4.0% | ||||
397 | AGCO Corp. | 57,974 | ||
1,268 | Allison Transmission Holdings, Inc. | 49,782 | ||
453 | Crane Co. | 49,051 | ||
778 | Donaldson Co., Inc. | 40,401 | ||
1,507 | Flowserve Corp. | 54,101 | ||
572 | Graco, Inc. | 39,880 | ||
451 | ITT, Inc. | 33,920 | ||
301 | John Bean Technologies Corp. | 35,659 | ||
331 | Lincoln Electric Holdings, Inc. | 45,615 | ||
182 | Nordson Corp. | 41,329 | ||
409 | Oshkosh Corp. | 41,166 | ||
215 | Snap-on, Inc. | 44,178 | ||
545 | Timken (The) Co. | 33,081 | ||
461 | Toro (The) Co. | 39,411 | ||
237 | Watts Water Technologies, Inc., Class A | 33,083 | ||
638,631 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Media – 2.0% | ||||
61 | Cable One, Inc. | $89,319 | ||
1,544 | Interpublic Group of (The) Cos., Inc. | 54,735 | ||
1,198 | New York Times (The) Co., Class A | 54,916 | ||
2,594 | News Corp., Class A | 57,457 | ||
383 | Nexstar Media Group, Inc., Class A | 72,188 | ||
328,615 | ||||
Metals & Mining – 1.6% | ||||
633 | Alcoa Corp. | 56,989 | ||
233 | Reliance Steel & Aluminum Co. | 42,721 | ||
359 | Royal Gold, Inc. | 50,719 | ||
608 | Steel Dynamics, Inc. | 50,725 | ||
1,585 | United States Steel Corp. | 59,818 | ||
260,972 | ||||
Multiline Retail – 0.8% | ||||
1,171 | Kohl’s Corp. | 70,799 | ||
2,211 | Macy’s, Inc. | 53,860 | ||
124,659 | ||||
Multi-Utilities – 0.6% | ||||
571 | Black Hills Corp. | 43,978 | ||
1,457 | NiSource, Inc. | 46,333 | ||
90,311 | ||||
Oil, Gas & Consumable Fuels – 4.6% | ||||
5,170 | Antero Midstream Corp. | 56,198 | ||
1,861 | APA Corp. | 76,915 | ||
789 | Chesapeake Energy Corp. | 68,643 | ||
1,118 | Continental Resources, Inc. | 68,567 | ||
2,634 | Coterra Energy, Inc. | 71,039 | ||
464 | Diamondback Energy, Inc. | 63,605 | ||
1,527 | HF Sinclair Corp. (a) | 60,851 | ||
3,048 | Marathon Oil Corp. | 76,535 | ||
1,485 | Ovintiv, Inc. | 80,294 | ||
958 | Targa Resources Corp. | 72,300 | ||
40 | Texas Pacific Land Corp. | 54,085 | ||
749,032 | ||||
Paper & Forest Products – 0.2% | ||||
589 | Louisiana-Pacific Corp. | 36,589 | ||
Pharmaceuticals – 2.6% | ||||
6,454 | Organon & Co. | 225,438 | ||
5,052 | Perrigo Co. PLC | 194,149 | ||
419,587 | ||||
Professional Services – 2.9% | ||||
544 | Booz Allen Hamilton Holding Corp. | 47,785 | ||
395 | Exponent, Inc. | 42,680 |
Shares | Description | Value | ||
Professional Services (Continued) | ||||
2,696 | KBR, Inc. | $147,552 | ||
474 | ManpowerGroup, Inc. | 44,518 | ||
413 | Robert Half International, Inc. | 47,156 | ||
1,536 | Science Applications International Corp. | 141,573 | ||
471,264 | ||||
Real Estate Management & Development – 0.1% | ||||
1,122 | eXp World Holdings, Inc. | 23,753 | ||
Road & Rail – 0.5% | ||||
756 | Knight-Swift Transportation Holdings, Inc. | 38,148 | ||
259 | Landstar System, Inc. | 39,065 | ||
77,213 | ||||
Semiconductors & Semiconductor Equipment – 2.5% | ||||
5,178 | Amkor Technology, Inc. | 112,466 | ||
265 | MKS Instruments, Inc. | 39,750 | ||
1,382 | Power Integrations, Inc. | 128,084 | ||
778 | Universal Display Corp. | 129,887 | ||
410,187 | ||||
Software – 3.0% | ||||
3,075 | CDK Global, Inc. | 149,691 | ||
1,357 | Citrix Systems, Inc. | 136,921 | ||
1,348 | Dolby Laboratories, Inc., Class A | 105,441 | ||
1,148 | Pegasystems, Inc. | 92,586 | ||
484,639 | ||||
Specialty Retail – 2.4% | ||||
241 | Advance Auto Parts, Inc. | 49,877 | ||
2,286 | American Eagle Outfitters, Inc. | 38,405 | ||
503 | Dick’s Sporting Goods, Inc. | 50,310 | ||
1,326 | Foot Locker, Inc. | 39,329 | ||
3,279 | Gap (The), Inc. | 46,168 | ||
195 | Lithia Motors, Inc. | 58,524 | ||
540 | Penske Automotive Group, Inc. | 50,609 | ||
342 | Williams-Sonoma, Inc. | 49,590 | ||
382,812 | ||||
Technology Hardware, Storage & Peripherals – 0.7% | ||||
5,670 | Xerox Holdings Corp. | 114,364 | ||
Textiles, Apparel & Luxury Goods – 1.9% | ||||
572 | Carter’s, Inc. | 52,618 | ||
594 | Columbia Sportswear Co. | 53,775 | ||
3,462 | Hanesbrands, Inc. | 51,549 | ||
543 | PVH Corp. (a) | 41,599 | ||
487 | Ralph Lauren Corp. | 55,246 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Textiles, Apparel & Luxury Goods (Continued) | ||||
1,425 | Tapestry, Inc. | $52,939 | ||
307,726 | ||||
Thrifts & Mortgage Finance – 1.2% | ||||
748 | Essent Group Ltd. | 30,825 | ||
2,357 | MGIC Investment Corp. | 31,937 | ||
2,783 | New York Community Bancorp, Inc. | 29,834 | ||
488 | PennyMac Financial Services, Inc. | 25,962 | ||
1,609 | Radian Group, Inc. | 35,736 | ||
1,905 | TFS Financial Corp. | 31,623 | ||
185,917 | ||||
Trading Companies & Distributors – 0.9% | ||||
1,042 | Air Lease Corp. | 46,525 | ||
548 | MSC Industrial Direct Co., Inc., Class A | 46,695 | ||
149 | Watsco, Inc. | 45,392 | ||
138,612 | ||||
Water Utilities – 0.2% | ||||
749 | Essential Utilities, Inc. | 38,296 | ||
Total Common Stocks | 14,580,982 | |||
(Cost $13,682,451) | ||||
REAL ESTATE INVESTMENT TRUSTS – 9.6% | ||||
Equity Real Estate Investment Trusts – 8.4% | ||||
530 | Agree Realty Corp. | 35,171 | ||
660 | American Campus Communities, Inc. | 36,940 | ||
867 | American Homes 4 Rent, Class A | 34,706 | ||
1,153 | Americold Realty Trust | 32,146 | ||
691 | Apartment Income REIT Corp. | 36,941 | ||
1,485 | Brixmor Property Group, Inc. | 38,328 | ||
937 | Cousins Properties, Inc. | 37,752 | ||
664 | CubeSmart | 34,548 | ||
1,128 | Douglas Emmett, Inc. | 37,698 | ||
166 | EastGroup Properties, Inc. | 33,744 | ||
277 | Federal Realty Investment Trust | 33,813 | ||
571 | First Industrial Realty Trust, Inc. | 35,351 | ||
777 | Gaming and Leisure Properties, Inc. | 36,465 | ||
1,194 | Healthcare Realty Trust, Inc. | 32,811 | ||
1,132 | Healthcare Trust of America, Inc., Class A | 35,477 | ||
848 | Highwoods Properties, Inc. | 38,787 | ||
144 | Innovative Industrial Properties, Inc. | 29,577 | ||
722 | Iron Mountain, Inc. | 40,006 |
Shares | Description | Value | ||
Equity Real Estate Investment Trusts (Continued) | ||||
1,314 | JBG SMITH Properties | $38,395 | ||
569 | Kilroy Realty Corp. | 43,483 | ||
1,531 | Kimco Realty Corp. | 37,816 | ||
312 | Lamar Advertising Co., Class A | 36,248 | ||
248 | Life Storage, Inc. | 34,827 | ||
1,597 | Medical Properties Trust, Inc. | 33,760 | ||
786 | National Retail Properties, Inc. | 35,323 | ||
546 | National Storage Affiliates Trust | 34,267 | ||
1,275 | Omega Healthcare Investors, Inc. | 39,729 | ||
205 | PS Business Parks, Inc. | 34,456 | ||
935 | Rayonier, Inc. | 38,447 | ||
502 | Regency Centers Corp. | 35,813 | ||
466 | Rexford Industrial Realty, Inc. | 34,759 | ||
472 | Safehold, Inc. | 26,172 | ||
511 | SL Green Realty Corp. | 41,483 | ||
784 | Spirit Realty Capital, Inc. | 36,080 | ||
788 | STAG Industrial, Inc. | 32,584 | ||
1,099 | STORE Capital Corp. | 32,124 | ||
443 | Terreno Realty Corp. | 32,804 | ||
903 | Vornado Realty Trust | 40,924 | ||
1,359,755 | ||||
Mortgage Real Estate Investment Trusts – 1.2% | ||||
2,261 | AGNC Investment Corp. | 29,619 | ||
4,345 | Annaly Capital Management, Inc. | 30,589 | ||
1,112 | Blackstone Mortgage Trust, Inc., Class A | 35,350 | ||
711 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 33,723 | ||
3,174 | New Residential Investment Corp. | 34,850 | ||
1,399 | Starwood Property Trust, Inc. | 33,814 | ||
197,945 | ||||
Total Real Estate Investment Trusts | 1,557,700 | |||
(Cost $1,433,661) | ||||
Total Investments – 99.8% | 16,138,682 | |||
(Cost $15,116,112) | ||||
Net Other Assets and Liabilities – 0.2% | 31,921 | |||
Net Assets – 100.0% | $16,170,603 |
(a) | Non-income producing security. |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 14,580,982 | $ 14,580,982 | $ — | $ — |
Real Estate Investment Trusts* | 1,557,700 | 1,557,700 | — | — |
Total Investments | $ 16,138,682 | $ 16,138,682 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 90.8% | ||||
Aerospace & Defense – 0.7% | ||||
2,063 | Maxar Technologies, Inc. | $81,406 | ||
752 | Moog, Inc., Class A | 66,026 | ||
147,432 | ||||
Air Freight & Logistics – 0.2% | ||||
503 | Forward Air Corp. | 49,183 | ||
Auto Components – 0.8% | ||||
3,858 | Dana, Inc. | 67,785 | ||
565 | LCI Industries | 58,653 | ||
755 | Patrick Industries, Inc. | 45,526 | ||
171,964 | ||||
Automobiles – 0.3% | ||||
1,175 | Winnebago Industries, Inc. | 63,485 | ||
Banks – 10.0% | ||||
880 | Ameris Bancorp | 38,614 | ||
1,936 | Associated Banc-Corp. | 44,063 | ||
1,173 | Atlantic Union Bankshares Corp. | 43,037 | ||
620 | BancFirst Corp. | 51,590 | ||
522 | Bank of Hawaii Corp. | 43,806 | ||
1,033 | BankUnited, Inc. | 45,411 | ||
721 | Banner Corp. | 42,200 | ||
1,468 | Cadence Bank | 42,954 | ||
1,017 | Cathay General Bancorp | 45,511 | ||
1,336 | Columbia Banking System, Inc. | 43,113 | ||
587 | Community Bank System, Inc. | 41,178 | ||
2,042 | CVB Financial Corp. | 47,395 | ||
750 | Eagle Bancorp, Inc. | 42,757 | ||
2,168 | Eastern Bankshares, Inc. | 46,699 | ||
929 | Enterprise Financial Services Corp. | 43,951 | ||
998 | FB Financial Corp. | 44,331 | ||
3,173 | First BanCorp | 41,630 | ||
1,794 | First Financial Bancorp | 41,352 | ||
1,600 | First Hawaiian, Inc. | 44,624 | ||
1,075 | First Interstate BancSystem, Inc., Class A | 39,528 | ||
1,044 | First Merchants Corp. | 43,430 | ||
3,605 | FNB Corp. | 44,882 | ||
2,572 | Fulton Financial Corp. | 42,747 | ||
874 | Hancock Whitney Corp. | 45,579 | ||
864 | Heartland Financial USA, Inc. | 41,325 | ||
1,244 | Hilltop Holdings, Inc. | 36,574 | ||
1,796 | Home BancShares, Inc. | 40,590 | ||
2,973 | Hope Bancorp, Inc. | 47,806 | ||
536 | Independent Bank Corp. | 43,786 | ||
606 | Independent Bank Group, Inc. | 43,123 | ||
1,032 | International Bancshares Corp. | 43,561 | ||
546 | Lakeland Financial Corp. | 39,858 | ||
501 | Live Oak Bancshares, Inc. | 25,496 | ||
733 | Meta Financial Group, Inc. | 40,256 | ||
1,135 | NBT Bancorp, Inc. | 41,008 | ||
3,088 | Northwest Bancshares, Inc. | 41,719 | ||
2,413 | Old National Bancorp | 39,525 |
Shares | Description | Value | ||
Banks (Continued) | ||||
1,092 | Pacific Premier Bancorp, Inc. | $38,602 | ||
318 | Park National Corp. | 41,779 | ||
1,152 | Renasant Corp. | 38,534 | ||
909 | Sandy Spring Bancorp, Inc. | 40,832 | ||
1,236 | Seacoast Banking Corp. of Florida | 43,285 | ||
515 | ServisFirst Bancshares, Inc. | 49,074 | ||
1,478 | Simmons First National Corp., Class A | 38,753 | ||
1,384 | Towne Bank | 41,437 | ||
1,347 | Trustmark Corp. | 40,935 | ||
1,217 | United Community Banks, Inc. | 42,352 | ||
1,099 | Veritex Holdings, Inc. | 41,949 | ||
1,250 | WesBanco, Inc. | 42,950 | ||
757 | Westamerica BanCorp | 45,798 | ||
481 | Wintrust Financial Corp. | 44,699 | ||
2,165,988 | ||||
Beverages – 0.2% | ||||
95 | Coca-Cola Consolidated, Inc. | 47,201 | ||
Building Products – 0.5% | ||||
767 | AAON, Inc. | 42,745 | ||
504 | CSW Industrials, Inc. | 59,265 | ||
102,010 | ||||
Capital Markets – 2.3% | ||||
934 | Artisan Partners Asset Management, Inc., Class A | 36,753 | ||
492 | B. Riley Financial, Inc. | 34,420 | ||
9,404 | BGC Partners, Inc., Class A | 41,378 | ||
1,708 | Brightsphere Investment Group, Inc. | 41,419 | ||
473 | Cohen & Steers, Inc. | 40,626 | ||
1,164 | Federated Hermes, Inc. | 39,646 | ||
422 | Hamilton Lane, Inc., Class A | 32,616 | ||
700 | Moelis & Co., Class A | 32,865 | ||
253 | Piper Sandler Cos. | 33,206 | ||
590 | PJT Partners, Inc., Class A | 37,241 | ||
1,052 | StepStone Group, Inc., Class A | 34,779 | ||
1,517 | Virtu Financial, Inc., Class A | 56,463 | ||
147 | Virtus Investment Partners, Inc. | 35,278 | ||
496,690 | ||||
Chemicals – 1.9% | ||||
821 | Cabot Corp. | 56,165 | ||
752 | HB Fuller Co. | 49,685 | ||
511 | Innospec, Inc. | 47,293 | ||
4,058 | Kronos Worldwide, Inc. | 62,980 | ||
631 | Minerals Technologies, Inc. | 41,741 | ||
135 | NewMarket Corp. | 43,791 | ||
461 | Sensient Technologies Corp. | 38,701 | ||
371 | Stepan Co. | 36,658 | ||
880 | Trinseo PLC | 42,169 | ||
419,183 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Commercial Services & Supplies – 4.8% | ||||
1,491 | ABM Industries, Inc. | $68,646 | ||
1,130 | Brady Corp., Class A | 52,285 | ||
929 | Brink’s (The) Co. | 63,172 | ||
1,897 | Deluxe Corp. | 57,365 | ||
31,779 | Healthcare Services Group, Inc. | 590,136 | ||
2,094 | HNI Corp. | 77,583 | ||
2,247 | MillerKnoll, Inc. | 77,656 | ||
290 | UniFirst Corp. | 53,441 | ||
1,040,284 | ||||
Construction & Engineering – 1.2% | ||||
1,496 | Arcosa, Inc. | 85,646 | ||
616 | Comfort Systems USA, Inc. | 54,830 | ||
1,574 | Granite Construction, Inc. | 51,627 | ||
2,540 | Primoris Services Corp. | 60,503 | ||
252,606 | ||||
Consumer Finance – 0.5% | ||||
585 | FirstCash Holdings, Inc. | 41,149 | ||
2,061 | Navient Corp. | 35,119 | ||
448 | Nelnet, Inc., Class A | 38,076 | ||
114,344 | ||||
Containers & Packaging – 0.5% | ||||
1,009 | Greif, Inc., Class A | 65,646 | ||
4,804 | Pactiv Evergreen, Inc. | 48,328 | ||
113,974 | ||||
Diversified Consumer Services – 0.9% | ||||
140 | Graham Holdings Co., Class B | 85,606 | ||
1,522 | Strategic Education, Inc. | 101,030 | ||
186,636 | ||||
Diversified Telecommunication Services – 0.5% | ||||
1,710 | Cogent Communications Holdings, Inc. | 113,459 | ||
Electric Utilities – 0.7% | ||||
747 | ALLETE, Inc. | 50,034 | ||
603 | MGE Energy, Inc. | 48,113 | ||
853 | Otter Tail Corp. | 53,313 | ||
151,460 | ||||
Electrical Equipment – 0.4% | ||||
426 | Encore Wire Corp. | 48,594 | ||
3,902 | GrafTech International Ltd. | 37,537 | ||
86,131 |
Shares | Description | Value | ||
Electronic Equipment, Instruments & Components – 6.0% | ||||
3,573 | Advanced Energy Industries, Inc. | $307,564 | ||
7,892 | Avnet, Inc. | 320,336 | ||
572 | Badger Meter, Inc. | 57,034 | ||
927 | Belden, Inc. | 51,356 | ||
6,618 | Methode Electronics, Inc. | 286,228 | ||
14,878 | Vishay Intertechnology, Inc. | 291,609 | ||
1,314,127 | ||||
Energy Equipment & Services – 2.4% | ||||
2,067 | Cactus, Inc., Class A | 117,282 | ||
3,533 | Core Laboratories N.V. | 111,749 | ||
3,326 | Helmerich & Payne, Inc. | 142,286 | ||
9,328 | Patterson-UTI Energy, Inc. | 144,397 | ||
515,714 | ||||
Entertainment – 0.5% | ||||
1,784 | World Wrestling Entertainment, Inc., Class A | 111,393 | ||
Food & Staples Retailing – 0.4% | ||||
1,203 | PriceSmart, Inc. | 94,881 | ||
Food Products – 1.4% | ||||
1,913 | B&G Foods, Inc. | 51,613 | ||
1,589 | Cal-Maine Foods, Inc. | 87,745 | ||
2,130 | Fresh Del Monte Produce, Inc. | 55,188 | ||
372 | J&J Snack Foods Corp. | 57,697 | ||
3,686 | Utz Brands, Inc. | 54,479 | ||
306,722 | ||||
Gas Utilities – 1.8% | ||||
340 | Chesapeake Utilities Corp. | 46,838 | ||
1,208 | New Jersey Resources Corp. | 55,399 | ||
1,017 | Northwest Natural Holding Co. | 52,599 | ||
639 | ONE Gas, Inc. | 56,385 | ||
1,899 | South Jersey Industries, Inc. | 65,611 | ||
708 | Southwest Gas Holdings, Inc. | 55,429 | ||
760 | Spire, Inc. | 54,538 | ||
386,799 | ||||
Health Care Equipment & Supplies – 2.9% | ||||
3,988 | CONMED Corp. | 592,417 | ||
186 | Mesa Laboratories, Inc. | 47,408 | ||
639,825 | ||||
Health Care Providers & Services – 8.2% | ||||
12,997 | Owens & Minor, Inc. | 572,128 | ||
19,263 | Patterson Cos., Inc. | 623,543 | ||
5,917 | U.S. Physical Therapy, Inc. | 588,446 | ||
1,784,117 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Hotels, Restaurants & Leisure – 1.1% | ||||
684 | Cracker Barrel Old Country Store, Inc. | $81,211 | ||
1,006 | Jack in the Box, Inc. | 93,971 | ||
660 | Papa John’s International, Inc. | 69,485 | ||
244,667 | ||||
Household Durables – 1.3% | ||||
1,076 | Century Communities, Inc. | 57,641 | ||
436 | Installed Building Products, Inc. | 36,838 | ||
1,968 | KB Home | 63,724 | ||
2,425 | La-Z-Boy, Inc. | 63,947 | ||
1,577 | MDC Holdings, Inc. | 59,674 | ||
281,824 | ||||
Household Products – 0.6% | ||||
1,466 | Energizer Holdings, Inc. | 45,094 | ||
578 | Spectrum Brands Holdings, Inc. | 51,280 | ||
240 | WD-40 Co. | 43,976 | ||
140,350 | ||||
Independent Power & Renewable Electricity Producers – 0.5% | ||||
1,376 | Clearway Energy, Inc., Class C | 50,238 | ||
625 | Ormat Technologies, Inc. | 51,144 | ||
101,382 | ||||
Insurance – 1.8% | ||||
1,124 | American Equity Investment Life Holding Co. | 44,859 | ||
752 | Argo Group International Holdings Ltd. | 31,042 | ||
871 | Assured Guaranty Ltd. | 55,448 | ||
1,834 | CNO Financial Group, Inc. | 46,015 | ||
1,130 | Horace Mann Educators Corp. | 47,268 | ||
184 | Kinsale Capital Group, Inc. | 41,956 | ||
824 | Mercury General Corp. | 45,320 | ||
548 | Stewart Information Services Corp. | 33,214 | ||
43 | White Mountains Insurance Group Ltd. | 48,858 | ||
393,980 | ||||
Internet & Direct Marketing Retail – 1.3% | ||||
2,935 | Shutterstock, Inc. | 273,190 | ||
IT Services – 3.5% | ||||
5,647 | CSG Systems International, Inc. | 358,980 | ||
1,219 | EVERTEC, Inc. | 49,893 | ||
11,361 | Switch, Inc., Class A | 350,146 | ||
759,019 | ||||
Leisure Products – 0.3% | ||||
1,659 | Acushnet Holdings Corp. | 66,791 |
Shares | Description | Value | ||
Machinery – 4.7% | ||||
414 | Alamo Group, Inc. | $59,529 | ||
689 | Albany International Corp., Class A | 58,096 | ||
1,181 | Altra Industrial Motion Corp. | 45,976 | ||
1,307 | Barnes Group, Inc. | 52,528 | ||
3,004 | Enerpac Tool Group Corp. | 65,758 | ||
553 | EnPro Industries, Inc. | 54,045 | ||
677 | ESCO Technologies, Inc. | 47,336 | ||
1,406 | Federal Signal Corp. | 47,452 | ||
644 | Franklin Electric Co., Inc. | 53,478 | ||
579 | Helios Technologies, Inc. | 46,465 | ||
1,172 | Hillenbrand, Inc. | 51,767 | ||
264 | Kadant, Inc. | 51,266 | ||
1,696 | Kennametal, Inc. | 48,523 | ||
401 | Lindsay Corp. | 62,961 | ||
778 | Mueller Industries, Inc. | 42,144 | ||
4,230 | Mueller Water Products, Inc., Class A | 54,652 | ||
752 | Tennant Co. | 59,258 | ||
1,386 | Terex Corp. | 49,425 | ||
2,017 | Trinity Industries, Inc. | 69,304 | ||
1,019,963 | ||||
Marine – 0.4% | ||||
677 | Matson, Inc. | 81,660 | ||
Media – 1.7% | ||||
4,367 | Gray Television, Inc. | 96,380 | ||
1,537 | John Wiley & Sons, Inc., Class A | 81,507 | ||
3,331 | Sinclair Broadcast Group, Inc., Class A | 93,335 | ||
4,744 | TEGNA, Inc. | 106,265 | ||
377,487 | ||||
Metals & Mining – 1.5% | ||||
1,581 | Carpenter Technology Corp. | 66,370 | ||
1,272 | Commercial Metals Co. | 52,941 | ||
904 | Compass Minerals International, Inc. | 56,762 | ||
8,843 | Hecla Mining Co. | 58,098 | ||
491 | Kaiser Aluminum Corp. | 46,233 | ||
844 | Worthington Industries, Inc. | 43,390 | ||
323,794 | ||||
Multiline Retail – 0.8% | ||||
1,954 | Big Lots, Inc. | 67,608 | ||
359 | Dillard’s, Inc., Class A | 96,352 | ||
163,960 | ||||
Multi-Utilities – 0.5% | ||||
1,167 | Avista Corp. | 52,690 | ||
868 | NorthWestern Corp. | 52,505 | ||
105,195 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Oil, Gas & Consumable Fuels – 4.0% | ||||
1,845 | California Resources Corp. | $82,527 | ||
7,623 | Equitrans Midstream Corp. | 64,338 | ||
4,177 | Magnolia Oil & Gas Corp., Class A | 98,786 | ||
2,135 | Matador Resources, Co. | 113,112 | ||
3,019 | Murphy Oil Corp. | 121,938 | ||
626 | Oasis Petroleum, Inc. | 91,584 | ||
1,616 | PDC Energy, Inc. | 117,451 | ||
2,674 | SM Energy Co. | 104,152 | ||
2,978 | World Fuel Services Corp. | 80,525 | ||
874,413 | ||||
Personal Products – 1.0% | ||||
1,286 | Edgewell Personal Care Co. | 47,158 | ||
824 | Inter Parfums, Inc. | 72,553 | ||
281 | Medifast, Inc. | 47,989 | ||
1,158 | Nu Skin Enterprises, Inc., Class A | 55,445 | ||
223,145 | ||||
Professional Services – 1.1% | ||||
594 | ICF International, Inc. | 55,919 | ||
516 | Insperity, Inc. | 51,817 | ||
804 | Korn Ferry | 52,212 | ||
835 | ManTech International Corp., Class A | 71,968 | ||
231,916 | ||||
Real Estate Management & Development – 0.6% | ||||
1,774 | Kennedy-Wilson Holdings, Inc. | 43,268 | ||
2,266 | Newmark Group, Inc., Class A | 36,075 | ||
814 | St. Joe (The) Co. | 48,221 | ||
127,564 | ||||
Road & Rail – 1.0% | ||||
508 | ArcBest Corp. | 40,894 | ||
739 | Ryder System, Inc. | 58,625 | ||
2,264 | Schneider National, Inc., Class B | 57,732 | ||
1,278 | Werner Enterprises, Inc. | 52,398 | ||
209,649 | ||||
Software – 3.3% | ||||
1,747 | InterDigital, Inc. | 111,459 | ||
6,741 | Progress Software Corp. | 317,434 | ||
17,207 | Xperi Holding Corp. | 298,025 | ||
726,918 | ||||
Specialty Retail – 2.6% | ||||
2,081 | Buckle (The), Inc. | 68,756 | ||
2,179 | Camping World Holdings, Inc., Class A | 60,903 | ||
451 | Group 1 Automotive, Inc. | 75,691 | ||
1,511 | Monro, Inc. | 66,998 |
Shares | Description | Value | ||
Specialty Retail (Continued) | ||||
442 | Murphy USA, Inc. | $88,382 | ||
1,833 | Rent-A-Center, Inc. | 46,173 | ||
1,012 | Signet Jewelers Ltd. | 73,573 | ||
1,780 | Sonic Automotive, Inc., Class A | 75,668 | ||
556,144 | ||||
Textiles, Apparel & Luxury Goods – 1.7% | ||||
1,718 | Kontoor Brands, Inc. | 71,039 | ||
3,517 | Levi Strauss & Co., Class A | 69,496 | ||
867 | Oxford Industries, Inc. | 78,464 | ||
1,895 | Steven Madden Ltd. | 73,223 | ||
3,056 | Wolverine World Wide, Inc. | 68,943 | ||
361,165 | ||||
Thrifts & Mortgage Finance – 0.9% | ||||
3,859 | Capitol Federal Financial, Inc. | 41,986 | ||
1,805 | Provident Financial Services, Inc. | 42,237 | ||
290 | Walker & Dunlop, Inc. | 37,532 | ||
1,310 | Washington Federal, Inc. | 42,994 | ||
872 | WSFS Financial Corp. | 40,653 | ||
205,402 | ||||
Tobacco – 0.3% | ||||
5,121 | Vector Group Ltd. | 61,657 | ||
Trading Companies & Distributors – 2.4% | ||||
593 | Applied Industrial Technologies, Inc. | 60,877 | ||
648 | Boise Cascade Co. | 45,017 | ||
585 | GATX Corp. | 72,148 | ||
2,153 | Global Industrial Co. | 69,391 | ||
389 | Herc Holdings, Inc. | 64,998 | ||
759 | McGrath RentCorp | 64,500 | ||
1,582 | Rush Enterprises, Inc., Class A | 80,540 | ||
1,011 | Triton International Ltd. | 70,952 | ||
528,423 | ||||
Water Utilities – 0.8% | ||||
479 | American States Water Co. | 42,640 | ||
690 | California Water Service Group | 40,903 | ||
412 | Middlesex Water Co. | 43,330 | ||
677 | SJW Group | 47,106 | ||
173,979 | ||||
Wireless Telecommunication Services – 1.1% | ||||
4,906 | Shenandoah Telecommunications Co. | 115,683 | ||
6,209 | Telephone & Data Systems, Inc. | 117,226 | ||
232,909 | ||||
Total Common Stocks | 19,722,154 | |||
(Cost $19,026,512) |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS – 8.8% | ||||
Equity Real Estate Investment Trusts – 7.5% | ||||
1,941 | Acadia Realty Trust | $42,062 | ||
1,129 | American Assets Trust, Inc. | 42,778 | ||
2,623 | Apple Hospitality REIT, Inc. | 47,135 | ||
3,157 | Brandywine Realty Trust | 44,640 | ||
1,707 | Broadstone Net Lease, Inc. | 37,179 | ||
1,856 | CareTrust REIT, Inc. | 35,821 | ||
1,515 | Corporate Office Properties Trust | 43,238 | ||
1,848 | Easterly Government Properties, Inc. | 39,067 | ||
4,760 | Empire State Realty Trust, Inc., Class A | 46,743 | ||
892 | EPR Properties | 48,801 | ||
1,470 | Essential Properties Realty Trust, Inc. | 37,191 | ||
1,441 | Four Corners Property Trust, Inc. | 38,965 | ||
2,773 | Global Net Lease, Inc. | 43,619 | ||
1,715 | Hudson Pacific Properties, Inc. | 47,591 | ||
1,640 | Independence Realty Trust, Inc. | 43,362 | ||
1,691 | Industrial Logistics Properties Trust | 38,335 | ||
1,693 | iStar, Inc. | 39,633 | ||
1,945 | Kite Realty Group Trust | 44,288 | ||
1,241 | LTC Properties, Inc. | 47,741 | ||
2,712 | LXP Industrial Trust | 42,578 | ||
2,452 | Macerich (The) Co. | 38,349 | ||
737 | National Health Investors, Inc. | 43,490 | ||
505 | NexPoint Residential Trust, Inc. | 45,607 | ||
1,580 | Outfront Media, Inc. | 44,919 | ||
5,080 | Paramount Group, Inc. | 55,423 | ||
1,894 | Pebblebrook Hotel Trust | 46,365 | ||
2,250 | Physicians Realty Trust | 39,465 | ||
2,305 | Piedmont Office Realty Trust, Inc., Class A | 39,692 | ||
704 | PotlatchDeltic Corp. | 37,122 | ||
2,162 | Retail Opportunity Investments Corp. | 41,921 | ||
3,041 | RLJ Lodging Trust | 42,817 | ||
3,129 | Sabra Health Care REIT, Inc. | 46,591 | ||
4,820 | Service Properties Trust | 42,561 | ||
2,676 | SITE Centers Corp. | 44,716 | ||
2,197 | Tanger Factory Outlet Centers, Inc. | 37,766 | ||
3,024 | Uniti Group, Inc. | 41,610 | ||
2,230 | Urban Edge Properties | 42,593 | ||
1,639 | Washington Real Estate Investment Trust | 41,795 | ||
1,623,569 | ||||
Mortgage Real Estate Investment Trusts – 1.3% | ||||
3,323 | Apollo Commercial Real Estate Finance, Inc. | 46,289 | ||
2,387 | Arbor Realty Trust, Inc. | 40,722 | ||
2,900 | Chimera Investment Corp. | 34,916 |
Shares | Description | Value | ||
Mortgage Real Estate Investment Trusts (Continued) | ||||
9,589 | MFA Financial, Inc. | $38,644 | ||
11,755 | New York Mortgage Trust, Inc. | 42,906 | ||
2,523 | PennyMac Mortgage Investment Trust | 42,614 | ||
7,578 | Two Harbors Investment Corp. | 41,906 | ||
287,997 | ||||
Total Real Estate Investment Trusts | 1,911,566 | |||
(Cost $1,835,908) | ||||
COMMON STOCKS – BUSINESS DEVELOPMENT COMPANIES - 0.2% | ||||
Capital Markets – 0.2% | ||||
2,832 | Golub Capital BDC, Inc. | 43,075 | ||
(Cost $44,149) | ||||
Total Investments – 99.8% | 21,676,795 | |||
(Cost $20,906,569) | ||||
Net Other Assets and Liabilities – 0.2% | 48,551 | |||
Net Assets – 100.0% | $21,725,346 |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 19,722,154 | $ 19,722,154 | $ — | $ — |
Real Estate Investment Trusts* | 1,911,566 | 1,911,566 | — | — |
Common Stocks - Business Development Companies* | 43,075 | 43,075 | — | — |
Total Investments | $ 21,676,795 | $ 21,676,795 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 97.0% | ||||
Aerospace & Defense – 3.3% | ||||
498 | General Dynamics Corp. | $120,108 | ||
416 | L3Harris Technologies, Inc. | 103,363 | ||
389 | Lockheed Martin Corp. | 171,705 | ||
191 | Northrop Grumman Corp. | 85,419 | ||
1,254 | Raytheon Technologies Corp. | 124,234 | ||
604,829 | ||||
Air Freight & Logistics – 0.5% | ||||
412 | United Parcel Service, Inc., Class B | 88,358 | ||
Banks – 3.8% | ||||
782 | Bank of America Corp. | 32,234 | ||
1,111 | Citigroup, Inc. | 59,327 | ||
1,387 | Citizens Financial Group, Inc. | 62,873 | ||
1,193 | Fifth Third Bancorp | 51,347 | ||
5,052 | Huntington Bancshares, Inc. | 73,860 | ||
293 | JPMorgan Chase & Co. | 39,942 | ||
2,783 | KeyCorp | 62,284 | ||
379 | M&T Bank Corp. | 64,240 | ||
237 | PNC Financial Services Group (The), Inc. | 43,715 | ||
2,716 | Regions Financial Corp. | 60,458 | ||
1,077 | Truist Financial Corp. | 61,066 | ||
1,108 | US Bancorp | 58,890 | ||
517 | Wells Fargo & Co. | 25,054 | ||
695,290 | ||||
Beverages – 0.6% | ||||
684 | Coca-Cola (The) Co. | 42,408 | ||
710 | Keurig Dr. Pepper, Inc. | 26,909 | ||
201 | PepsiCo, Inc. | 33,643 | ||
102,960 | ||||
Biotechnology – 3.9% | ||||
1,793 | AbbVie, Inc. | 290,663 | ||
879 | Amgen, Inc. | 212,560 | ||
3,404 | Gilead Sciences, Inc. | 202,368 | ||
705,591 | ||||
Building Products – 0.3% | ||||
806 | Johnson Controls International PLC | 52,849 | ||
Capital Markets – 2.5% | ||||
97 | Ameriprise Financial, Inc. | 29,135 | ||
765 | Bank of New York Mellon (The) Corp. | 37,967 | ||
39 | BlackRock, Inc. | 29,803 | ||
423 | Blackstone, Inc. | 53,695 | ||
659 | Carlyle Group (The), Inc. | 32,232 | ||
137 | CME Group, Inc. | 32,587 | ||
2,000 | Franklin Resources, Inc. | 55,840 | ||
88 | Goldman Sachs Group (The), Inc. | 29,049 | ||
433 | Morgan Stanley | 37,844 |
Shares | Description | Value | ||
Capital Markets (Continued) | ||||
389 | Northern Trust Corp. | $45,299 | ||
500 | State Street Corp. | 43,560 | ||
222 | T Rowe Price Group, Inc. | 33,564 | ||
460,575 | ||||
Chemicals – 1.4% | ||||
52 | Air Products and Chemicals, Inc. | 12,995 | ||
78 | Celanese Corp. | 11,144 | ||
702 | Dow, Inc. | 44,732 | ||
852 | DuPont de Nemours, Inc. | 62,690 | ||
156 | Eastman Chemical Co. | 17,481 | ||
111 | International Flavors & Fragrances, Inc. | 14,578 | ||
421 | LyondellBasell Industries N.V., Class A | 43,287 | ||
352 | PPG Industries, Inc. | 46,137 | ||
253,044 | ||||
Commercial Services & Supplies – 0.1% | ||||
57 | Republic Services, Inc. | 7,552 | ||
52 | Waste Management, Inc. | 8,242 | ||
15,794 | ||||
Communications Equipment – 0.4% | ||||
1,165 | Cisco Systems, Inc. | 64,960 | ||
Consumer Finance – 1.0% | ||||
771 | Ally Financial, Inc. | 33,523 | ||
440 | Capital One Financial Corp. | 57,768 | ||
280 | Discover Financial Services | 30,853 | ||
1,895 | Synchrony Financial | 65,965 | ||
188,109 | ||||
Containers & Packaging – 0.1% | ||||
524 | International Paper Co. | 24,183 | ||
Distributors – 1.1% | ||||
1,632 | Genuine Parts Co. | 205,665 | ||
Diversified Telecommunication Services – 2.2% | ||||
10,934 | AT&T, Inc. | 258,370 | ||
2,972 | Verizon Communications, Inc. | 151,394 | ||
409,764 | ||||
Electric Utilities – 1.5% | ||||
268 | Alliant Energy Corp. | 16,745 | ||
239 | American Electric Power Co., Inc. | 23,845 | ||
223 | Duke Energy Corp. | 24,900 | ||
363 | Edison International | 25,446 | ||
191 | Entergy Corp. | 22,299 | ||
291 | Evergy, Inc. | 19,887 | ||
183 | Eversource Energy | 16,139 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Electric Utilities (Continued) | ||||
390 | Exelon Corp. | $18,576 | ||
568 | FirstEnergy Corp. | 26,048 | ||
111 | NextEra Energy, Inc. | 9,403 | ||
1,156 | PPL Corp. | 33,015 | ||
351 | Southern (The) Co. | 25,451 | ||
251 | Xcel Energy, Inc. | 18,115 | ||
279,869 | ||||
Electrical Equipment – 1.0% | ||||
472 | Eaton Corp. PLC | 71,631 | ||
1,088 | Emerson Electric Co. | 106,678 | ||
178,309 | ||||
Electronic Equipment, Instruments & Components – 2.5% | ||||
12,565 | Corning, Inc. | 463,774 | ||
Energy Equipment & Services – 0.3% | ||||
1,071 | Baker Hughes Co. | 38,995 | ||
480 | Schlumberger N.V. | 19,829 | ||
58,824 | ||||
Food & Staples Retailing – 1.5% | ||||
544 | Kroger (The) Co. | 31,209 | ||
426 | Sysco Corp. | 34,783 | ||
992 | Walgreens Boots Alliance, Inc. | 44,412 | ||
1,034 | Walmart, Inc. | 153,983 | ||
264,387 | ||||
Food Products – 2.1% | ||||
463 | Archer-Daniels-Midland Co. | 41,790 | ||
1,439 | Conagra Brands, Inc. | 48,307 | ||
642 | General Mills, Inc. | 43,476 | ||
130 | Hershey (The) Co. | 28,162 | ||
588 | Hormel Foods Corp. | 30,306 | ||
795 | Kellogg Co. | 51,270 | ||
1,773 | Kraft Heinz (The) Co. | 69,839 | ||
213 | McCormick & Co., Inc. | 21,257 | ||
432 | Mondelez International, Inc., Class A | 27,121 | ||
337 | Tyson Foods, Inc., Class A | 30,205 | ||
391,733 | ||||
Health Care Equipment & Supplies – 2.1% | ||||
574 | Abbott Laboratories | 67,938 | ||
931 | Baxter International, Inc. | 72,190 | ||
336 | Becton Dickinson and Co. | 89,376 | ||
1,459 | Medtronic PLC | 161,876 | ||
391,380 |
Shares | Description | Value | ||
Health Care Providers & Services – 2.7% | ||||
144 | AmerisourceBergen Corp. | $22,278 | ||
4,668 | Cardinal Health, Inc. | 264,676 | ||
479 | Cigna Corp. | 114,773 | ||
268 | CVS Health Corp. | 27,124 | ||
511 | Quest Diagnostics, Inc. | 69,936 | ||
498,787 | ||||
Hotels, Restaurants & Leisure – 3.4% | ||||
1,496 | Darden Restaurants, Inc. | 198,893 | ||
719 | McDonald’s Corp. | 177,795 | ||
1,324 | Starbucks Corp. | 120,444 | ||
1,021 | Yum! Brands, Inc. | 121,019 | ||
618,151 | ||||
Household Durables – 0.9% | ||||
1,391 | Garmin Ltd. | 164,986 | ||
Household Products – 0.7% | ||||
213 | Clorox (The) Co. | 29,614 | ||
351 | Colgate-Palmolive Co. | 26,616 | ||
319 | Kimberly-Clark Corp. | 39,288 | ||
181 | Procter & Gamble (The) Co. | 27,657 | ||
123,175 | ||||
Independent Power & Renewable Electricity Producers – 0.1% | ||||
642 | AES (The) Corp. | 16,519 | ||
Industrial Conglomerates – 1.1% | ||||
869 | 3M Co. | 129,377 | ||
402 | Honeywell International, Inc. | 78,221 | ||
207,598 | ||||
Insurance – 3.1% | ||||
769 | Aflac, Inc. | 49,516 | ||
465 | Allstate (The) Corp. | 64,407 | ||
786 | American International Group, Inc. | 49,337 | ||
169 | Chubb Ltd. | 36,149 | ||
385 | Cincinnati Financial Corp. | 52,345 | ||
598 | Hartford Financial Services Group (The), Inc. | 42,942 | ||
966 | MetLife, Inc. | 67,890 | ||
926 | Principal Financial Group, Inc. | 67,978 | ||
780 | Prudential Financial, Inc. | 92,173 | ||
283 | Travelers (The) Cos., Inc. | 51,713 | ||
574,450 | ||||
IT Services – 5.9% | ||||
292 | Automatic Data Processing, Inc. | 66,442 | ||
144 | Broadridge Financial Solutions, Inc. | 22,422 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
IT Services (Continued) | ||||
607 | Fidelity National Information Services, Inc. | $60,955 | ||
6,428 | International Business Machines Corp. | 835,768 | ||
647 | Paychex, Inc. | 88,296 | ||
1,073,883 | ||||
Machinery – 2.6% | ||||
464 | Caterpillar, Inc. | 103,388 | ||
545 | Cummins, Inc. | 111,785 | ||
359 | Illinois Tool Works, Inc. | 75,175 | ||
797 | PACCAR, Inc. | 70,192 | ||
182 | Parker-Hannifin Corp. | 51,644 | ||
388 | Stanley Black & Decker, Inc. | 54,239 | ||
466,423 | ||||
Media – 5.5% | ||||
942 | Comcast Corp., Class A | 44,104 | ||
3,398 | Fox Corp., Class A | 134,051 | ||
5,134 | Omnicom Group, Inc. | 435,774 | ||
10,374 | Paramount Global, Class B | 392,241 | ||
1,006,170 | ||||
Metals & Mining – 0.3% | ||||
461 | Newmont Corp. | 36,626 | ||
106 | Nucor Corp. | 15,757 | ||
52,383 | ||||
Multiline Retail – 0.7% | ||||
581 | Target Corp. | 123,300 | ||
Multi-Utilities – 1.0% | ||||
175 | Ameren Corp. | 16,408 | ||
525 | CenterPoint Energy, Inc. | 16,086 | ||
259 | CMS Energy Corp. | 18,115 | ||
268 | Consolidated Edison, Inc. | 25,374 | ||
257 | Dominion Energy, Inc. | 21,837 | ||
157 | DTE Energy Co. | 20,757 | ||
288 | Public Service Enterprise Group, Inc. | 20,160 | ||
158 | Sempra Energy | 26,563 | ||
181 | WEC Energy Group, Inc. | 18,066 | ||
183,366 | ||||
Oil, Gas & Consumable Fuels – 3.3% | ||||
332 | Chevron Corp. | 54,060 | ||
322 | ConocoPhillips | 32,200 | ||
519 | Devon Energy Corp. | 30,688 | ||
177 | EOG Resources, Inc. | 21,104 | ||
802 | Exxon Mobil Corp. | 66,237 | ||
157 | Hess Corp. | 16,805 | ||
3,670 | Kinder Morgan, Inc. | 69,400 | ||
488 | Marathon Petroleum Corp. | 41,724 | ||
932 | ONEOK, Inc. | 65,827 |
Shares | Description | Value | ||
Oil, Gas & Consumable Fuels (Continued) | ||||
593 | Phillips 66 | $51,229 | ||
60 | Pioneer Natural Resources Co. | 15,002 | ||
598 | Valero Energy Corp. | 60,721 | ||
2,082 | Williams (The) Cos., Inc. | 69,560 | ||
594,557 | ||||
Pharmaceuticals – 4.9% | ||||
3,186 | Bristol-Myers Squibb Co. | 232,674 | ||
905 | Johnson & Johnson | 160,393 | ||
2,808 | Merck & Co., Inc. | 230,396 | ||
2,827 | Pfizer, Inc. | 146,354 | ||
11,393 | Viatris, Inc. | 123,956 | ||
893,773 | ||||
Professional Services – 1.9% | ||||
3,214 | Leidos Holdings, Inc. | 347,176 | ||
Road & Rail – 0.8% | ||||
217 | Norfolk Southern Corp. | 61,893 | ||
313 | Union Pacific Corp. | 85,514 | ||
147,407 | ||||
Semiconductors & Semiconductor Equipment – 10.7% | ||||
1,621 | Analog Devices, Inc. | 267,757 | ||
611 | Broadcom, Inc. | 384,735 | ||
9,508 | Intel Corp. | 471,217 | ||
1,459 | QUALCOMM, Inc. | 222,964 | ||
1,598 | Skyworks Solutions, Inc. | 212,981 | ||
2,150 | Texas Instruments, Inc. | 394,482 | ||
1,954,136 | ||||
Software – 3.3% | ||||
13,440 | NortonLifeLock, Inc. | 356,429 | ||
2,862 | Oracle Corp. | 236,773 | ||
593,202 | ||||
Specialty Retail – 2.5% | ||||
2,670 | Best Buy Co., Inc. | 242,703 | ||
377 | Home Depot (The), Inc. | 112,847 | ||
1,776 | TJX (The) Cos., Inc. | 107,590 | ||
463,140 | ||||
Technology Hardware, Storage & Peripherals – 7.2% | ||||
35,016 | Hewlett Packard Enterprise Co. | 585,117 | ||
10,629 | HP, Inc. | 385,833 | ||
4,202 | NetApp, Inc. | 348,766 | ||
1,319,716 | ||||
Textiles, Apparel & Luxury Goods – 1.1% | ||||
3,617 | VF Corp. | 205,663 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Tobacco – 1.0% | ||||
2,239 | Altria Group, Inc. | $116,988 | ||
775 | Philip Morris International, Inc. | 72,803 | ||
189,791 | ||||
Trading Companies & Distributors – 0.1% | ||||
220 | Fastenal Co. | 13,068 | ||
Water Utilities – 0.0% | ||||
42 | American Water Works Co., Inc. | 6,952 | ||
Total Common Stocks | 17,738,019 | |||
(Cost $17,267,063) | ||||
REAL ESTATE INVESTMENT TRUSTS – 2.8% | ||||
Equity Real Estate Investment Trusts – 2.8% | ||||
71 | Alexandria Real Estate Equities, Inc. | 14,289 | ||
48 | American Tower Corp. | 12,059 | ||
78 | AvalonBay Communities, Inc. | 19,373 | ||
232 | Boston Properties, Inc. | 29,882 | ||
82 | Camden Property Trust | 13,628 | ||
98 | Crown Castle International Corp. | 18,091 | ||
117 | Digital Realty Trust, Inc. | 16,591 | ||
191 | Duke Realty Corp. | 11,089 | ||
13 | Equinix, Inc. | 9,641 | ||
148 | Equity LifeStyle Properties, Inc. | 11,319 | ||
231 | Equity Residential | 20,772 | ||
53 | Essex Property Trust, Inc. | 18,310 | ||
69 | Extra Space Storage, Inc. | 14,186 | ||
724 | Healthpeak Properties, Inc. | 24,855 | ||
260 | Invitation Homes, Inc. | 10,447 | ||
61 | Mid-America Apartment Communities, Inc. | 12,776 | ||
70 | Prologis, Inc. | 11,304 | ||
45 | Public Storage | 17,563 | ||
425 | Realty Income Corp. | 29,452 | ||
180 | Simon Property Group, Inc. | 23,681 | ||
59 | Sun Communities, Inc. | 10,342 | ||
316 | UDR, Inc. | 18,129 | ||
541 | Ventas, Inc. | 33,412 | ||
1,196 | VICI Properties, Inc. | 34,038 | ||
261 | Welltower, Inc. | 25,093 | ||
315 | Weyerhaeuser Co. | 11,938 | ||
491 | WP Carey, Inc. | 39,692 | ||
Total Real Estate Investment Trusts | 511,952 | |||
(Cost $466,754) | ||||
Total Investments – 99.8% | 18,249,971 | |||
(Cost $17,733,817) | ||||
Net Other Assets and Liabilities – 0.2% | 40,922 | |||
Net Assets – 100.0% | $18,290,893 |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 17,738,019 | $ 17,738,019 | $ — | $ — |
Real Estate Investment Trusts* | 511,952 | 511,952 | — | — |
Total Investments | $ 18,249,971 | $ 18,249,971 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | |||
ASSETS: | |||||
Investments, at value | $ 23,302,169 | $ 7,247,247 | $ 21,654,295 | ||
Cash | 24,970 | 59,530 | 8,260 | ||
Foreign currency | 11,736 | 788 | — | ||
Receivables: | |||||
Dividends | 116,124 | 10,255 | 24,093 | ||
Dividend reclaims | 64,183 | 509 | 2,047 | ||
Miscellaneous | 334 | 74 | — | ||
Total Assets | 23,519,516 | 7,318,403 | 21,688,695 | ||
LIABILITIES: | |||||
Payables: | |||||
Investment advisory fees | 12,676 | 4,534 | 10,860 | ||
Deferred foreign capital gains tax | — | 21,561 | — | ||
Total Liabilities | 12,676 | 26,095 | 10,860 | ||
NET ASSETS | $23,506,840 | $7,292,308 | $21,677,835 | ||
NET ASSETS consist of: | |||||
Paid-in capital | $ 25,360,329 | $ 8,258,821 | $ 20,755,828 | ||
Par value | 4,500 | 1,500 | 6,500 | ||
Accumulated distributable earnings (loss) | (1,857,989) | (968,013) | 915,507 | ||
NET ASSETS | $23,506,840 | $7,292,308 | $21,677,835 | ||
NET ASSET VALUE, per share | $52.24 | $48.61 | $33.35 | ||
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 450,002 | 150,002 | 650,002 | ||
Investments, at cost | $22,801,809 | $7,032,399 | $19,077,322 | ||
Foreign currency, at cost (proceeds) | $11,791 | $789 | $— |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | ||
$ 16,138,682 | $ 21,676,795 | $ 18,249,971 | ||
17,502 | 33,321 | 10,181 | ||
— | — | — | ||
22,269 | 26,194 | 37,350 | ||
359 | — | 1,068 | ||
— | — | — | ||
16,178,812 | 21,736,310 | 18,298,570 | ||
8,209 | 10,964 | 7,677 | ||
— | — | — | ||
8,209 | 10,964 | 7,677 | ||
$ 16,170,603 | $ 21,725,346 | $ 18,290,893 | ||
$ 17,151,896 | $ 22,273,630 | $ 18,956,566 | ||
5,500 | 7,500 | 6,000 | ||
(986,793) | (555,784) | (671,673) | ||
$ 16,170,603 | $ 21,725,346 | $ 18,290,893 | ||
$29.40 | $28.97 | $30.48 | ||
550,002 | 750,002 | 600,002 | ||
$15,116,112 | $20,906,569 | $17,733,817 | ||
$— | $— | $— |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | ||||
INVESTMENT INCOME: | ||||||
Dividends | $ 875,569 | $ 336,597 | $ 494,507 | |||
Interest | 3 | 5 | 3 | |||
Securities lending income (net of fees) | — | — | — | |||
Foreign withholding tax | (86,628) | (38,853) | (536) | |||
Other | 81 | 33 | 208 | |||
Total investment income | 789,025 | 297,782 | 494,182 | |||
EXPENSES: | ||||||
Investment advisory fees | 176,399 | 55,189 | 171,355 | |||
Total expenses | 176,399 | 55,189 | 171,355 | |||
NET INVESTMENT INCOME (LOSS) | 612,626 | 242,593 | 322,827 | |||
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||||||
Net realized gain (loss) on: | ||||||
Investments | 1,523,969 | 419,064 | (79,841) | |||
In-kind redemptions | 849,942 | — | 6,121,723 | |||
Foreign currency transactions | (3,415) | (1,420) | — | |||
Foreign capital gains tax | — | (53,545) | — | |||
Net realized gain (loss) | 2,370,496 | 364,099 | 6,041,882 | |||
Net change in unrealized appreciation (depreciation) on: | ||||||
Investments | (2,937,425) | (489,246) | (3,315,959) | |||
Foreign currency translation | 97 | 396 | — | |||
Deferred foreign capital gains tax | — | 23,941 | — | |||
Net change in unrealized appreciation (depreciation) | (2,937,328) | (464,909) | (3,315,959) | |||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (566,832) | (100,810) | 2,725,923 | |||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ 45,794 | $ 141,783 | $ 3,048,750 |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | |||
$360,111 | $366,705 | $454,811 | |||
3 | 3 | 2 | |||
— | 272 | — | |||
(93) | (156) | (81) | |||
343 | 17 | 60 | |||
360,364 | 366,841 | 454,792 | |||
118,864 | 92,061 | 80,338 | |||
118,864 | 92,061 | 80,338 | |||
241,500 | 274,780 | 374,454 | |||
(132,117) | (104,357) | (190,877) | |||
3,825,140 | 2,302,459 | 1,946,572 | |||
— | — | — | |||
— | — | — | |||
3,693,023 | 2,198,102 | 1,755,695 | |||
(2,661,207) | (1,832,012) | (644,056) | |||
— | — | — | |||
— | — | — | |||
(2,661,207) | (1,832,012) | (644,056) | |||
1,031,816 | 366,090 | 1,111,639 | |||
$1,273,316 | $640,870 | $1,486,093 |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | |||||||||
Year Ended 3/31/2022 | Year Ended 3/31/2021 | Year Ended 3/31/2022 | Year Ended 3/31/2021 | Year Ended 3/31/2022 | Year Ended 3/31/2021 | ||||||
OPERATIONS: | |||||||||||
Net investment income (loss) | $ 612,626 | $ 454,114 | $ 242,593 | $ 224,764 | $ 322,827 | $ 284,909 | |||||
Net realized gain (loss) | 2,370,496 | (1,877,558) | 364,099 | (1,244,104) | 6,041,882 | 357,727 | |||||
Net change in unrealized appreciation (depreciation) | (2,937,328) | 8,864,314 | (464,909) | 3,132,914 | (3,315,959) | 8,858,970 | |||||
Net increase (decrease) in net assets resulting from operations | 45,794 | 7,440,870 | 141,783 | 2,113,574 | 3,048,750 | 9,501,606 | |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||||||
Investment operations | (703,193) | (290,666) | (180,487) | (258,857) | (328,071) | (298,901) | |||||
Return of capital | — | — | (49,961) | — | — | — | |||||
Total distributions to shareholders | (703,193) | (290,666) | (230,448) | (258,857) | (328,071) | (298,901) | |||||
SHAREHOLDER TRANSACTIONS: | |||||||||||
Proceeds from shares sold | 5,595,303 | — | — | — | 11,195,391 | 4,276,066 | |||||
Cost of shares redeemed | (5,356,575) | (7,153,907) | — | (2,034,284) | (17,927,661) | (2,870,281) | |||||
Net increase (decrease) in net assets resulting from shareholder transactions | 238,728 | (7,153,907) | — | (2,034,284) | (6,732,270) | 1,405,785 | |||||
Total increase (decrease) in net assets | (418,671) | (3,703) | (88,665) | (179,567) | (4,011,591) | 10,608,490 | |||||
NET ASSETS: | |||||||||||
Beginning of period | 23,925,511 | 23,929,214 | 7,380,973 | 7,560,540 | 25,689,426 | 15,080,936 | |||||
End of period | $23,506,840 | $23,925,511 | $7,292,308 | $7,380,973 | $21,677,835 | $25,689,426 | |||||
CHANGES IN SHARES OUTSTANDING: | |||||||||||
Shares outstanding, beginning of period | 450,002 | 600,002 | 150,002 | 200,002 | 850,002 | 800,002 | |||||
Shares sold | 100,000 | — | — | — | 350,000 | 150,000 | |||||
Shares redeemed | (100,000) | (150,000) | — | (50,000) | (550,000) | (100,000) | |||||
Shares outstanding, end of period | 450,002 | 450,002 | 150,002 | 150,002 | 650,002 | 850,002 |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | ||||||||
Year Ended 3/31/2022 | Year Ended 3/31/2021 | Year Ended 3/31/2022 | Year Ended 3/31/2021 | Year Ended 3/31/2022 | Year Ended 3/31/2021 | |||||
$ 241,500 | $ 204,754 | $ 274,780 | $ 111,424 | $ 374,454 | $ 134,361 | |||||
3,693,023 | (520,571) | 2,198,102 | 342,466 | 1,755,695 | (193,374) | |||||
(2,661,207) | 8,295,213 | (1,832,012) | 4,869,821 | (644,056) | 2,623,813 | |||||
1,273,316 | 7,979,396 | 640,870 | 5,323,711 | 1,486,093 | 2,564,800 | |||||
(244,191) | (207,871) | (261,631) | (123,600) | (359,126) | (143,336) | |||||
— | — | — | — | — | — | |||||
(244,191) | (207,871) | (261,631) | (123,600) | (359,126) | (143,336) | |||||
13,029,289 | 1,284,312 | 18,629,899 | 1,305,929 | 19,135,641 | 4,998,646 | |||||
(14,535,290) | (3,504,213) | (7,148,164) | (2,587,996) | (10,393,637) | (3,372,720) | |||||
(1,506,001) | (2,219,901) | 11,481,735 | (1,282,067) | 8,742,004 | 1,625,926 | |||||
(476,876) | 5,551,624 | 11,860,974 | 3,918,044 | 9,868,971 | 4,047,390 | |||||
16,647,479 | 11,095,855 | 9,864,372 | 5,946,328 | 8,421,922 | 4,374,532 | |||||
$16,170,603 | $16,647,479 | $21,725,346 | $9,864,372 | $18,290,893 | $8,421,922 | |||||
600,002 | 700,002 | 350,002 | 400,002 | 300,002 | 250,002 | |||||
450,000 | 50,000 | 650,000 | 50,000 | 650,000 | 200,000 | |||||
(500,000) | (150,000) | (250,000) | (100,000) | (350,000) | (150,000) | |||||
550,002 | 600,002 | 750,002 | 350,002 | 600,002 | 300,002 |
Year Ended | Period Ended 3/31/2018 (a) | ||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | ||||||
Net asset value, beginning of period | $ 53.17 | $ 39.88 | $ 49.45 | $ 51.38 | $ 49.73 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 1.24 | 0.90 | 1.11 | 1.07 | 0.62 | ||||
Net realized and unrealized gain (loss) | (0.73) | 13.01 | (9.02) | (1.90) | 1.48 | ||||
Total from investment operations | 0.51 | 13.91 | (7.91) | (0.83) | 2.10 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (1.44) | (0.62) | (1.66) | (1.10) | (0.45) | ||||
Net asset value, end of period | $52.24 | $53.17 | $39.88 | $49.45 | $51.38 | ||||
Total return (b) | 0.82% | 34.93% | (16.64)% | (1.71)% | 4.23% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 23,507 | $ 23,926 | $ 23,929 | $ 24,727 | $ 12,846 | ||||
Ratio of total expenses to average net assets | 0.65% | 0.65% | 0.65% | 0.65% | 0.66% (c) (d) | ||||
Ratio of net investment income (loss) to average net assets | 2.26% | 1.86% | 2.24% | 2.32% | 1.74% (c) | ||||
Portfolio turnover rate (e) | 69% | 89% | 62% | 52% | 21% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Includes excise tax. If this excise tax was not included, the expense ratio would have been 0.65%. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended | Period Ended 3/31/2018 (a) | ||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | ||||||
Net asset value, beginning of period | $ 49.21 | $ 37.80 | $ 50.89 | $ 54.94 | $ 49.71 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 1.61 | 1.15 | 1.50 | 1.10 | 0.70 | ||||
Net realized and unrealized gain (loss) | (0.67) | 11.64 | (13.22) | (3.62) | 5.78 | ||||
Total from investment operations | 0.94 | 12.79 | (11.72) | (2.52) | 6.48 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (1.20) | (1.38) | (1.37) | (1.19) | (0.67) | ||||
Net realized gain | — | — | — | (0.34) | (0.58) | ||||
Return of capital | (0.34) | — | — | — | — | ||||
Total distributions | (1.54) | (1.38) | (1.37) | (1.53) | (1.25) | ||||
Net asset value, end of period | $48.61 | $49.21 | $37.80 | $50.89 | $54.94 | ||||
Total return (b) | 1.91% | 34.44% | (23.66)% | (4.48)% | 13.15% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 7,292 | $ 7,381 | $ 7,561 | $ 12,723 | $ 5,494 | ||||
Ratio of total expenses to average net assets | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% (c) | ||||
Ratio of net investment income (loss) to average net assets | 3.30% | 2.94% | 2.83% | 2.04% | 1.75% (c) | ||||
Portfolio turnover rate (d) | 72% | 75% | 82% | 69% | 111% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended | Period Ended 3/31/2018 (a) | ||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | ||||||
Net asset value, beginning of period | $ 30.22 | $ 18.85 | $ 22.12 | $ 21.54 | $ 19.83 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.38 | 0.34 | 0.46 | 0.38 | 0.21 | ||||
Net realized and unrealized gain (loss) | 3.13 | 11.39 | (3.27) | 0.56 | 1.68 | ||||
Total from investment operations | 3.51 | 11.73 | (2.81) | 0.94 | 1.89 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.38) | (0.36) | (0.46) | (0.36) | (0.18) | ||||
Net asset value, end of period | $33.35 | $30.22 | $18.85 | $22.12 | $21.54 | ||||
Total return (b) | 11.62% | 62.65% | (12.98)% | 4.45% | 9.54% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 21,678 | $ 25,689 | $ 15,081 | $ 18,800 | $ 21,536 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% (c) | ||||
Ratio of net investment income (loss) to average net assets | 1.13% | 1.41% | 2.03% | 1.72% | 1.71% (c) | ||||
Portfolio turnover rate (d) | 21% | 34% | 24% | 28% | 11% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended | Period Ended 3/31/2018 (a) | ||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | ||||||
Net asset value, beginning of period | $ 27.75 | $ 15.85 | $ 21.31 | $ 21.18 | $ 19.78 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.35 | 0.33 | 0.39 | 0.32 | 0.23 | ||||
Net realized and unrealized gain (loss) | 1.65 | 11.90 | (5.45) | 0.12 | 1.36 | ||||
Total from investment operations | 2.00 | 12.23 | (5.06) | 0.44 | 1.59 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.35) | (0.33) | (0.40) | (0.31) | (0.19) | ||||
Net asset value, end of period | $29.40 | $27.75 | $15.85 | $21.31 | $21.18 | ||||
Total return (b) | 7.26% | 77.60% | (24.23)% | 2.16% | 8.03% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 16,171 | $ 16,647 | $ 11,096 | $ 13,853 | $ 6,355 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% (c) | ||||
Ratio of net investment income (loss) to average net assets | 1.22% | 1.46% | 1.76% | 1.70% | 1.71% (c) | ||||
Portfolio turnover rate (d) | 43% | 60% | 43% | 42% | 40% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended | Period Ended 3/31/2018 (a) | ||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | ||||||
Net asset value, beginning of period | $ 28.18 | $ 14.87 | $ 20.84 | $ 20.88 | $ 19.73 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.46 | 0.28 | 0.36 | 0.46 | 0.34 | ||||
Net realized and unrealized gain (loss) | 0.78 | 13.34 | (5.98) | (0.09) | 1.10 | ||||
Total from investment operations | 1.24 | 13.62 | (5.62) | 0.37 | 1.44 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.45) | (0.31) | (0.35) | (0.41) | (0.29) | ||||
Net asset value, end of period | $28.97 | $28.18 | $14.87 | $20.84 | $20.88 | ||||
Total return (b) | 4.39% | 92.49% | (27.51)% | 1.78% | 7.26% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 21,725 | $ 9,864 | $ 5,946 | $ 5,210 | $ 4,175 | ||||
Ratio of total expenses to average net assets | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% (c) | ||||
Ratio of net investment income (loss) to average net assets | 1.79% | 1.37% | 1.97% | 2.25% | 2.22% (c) | ||||
Portfolio turnover rate (d) | 49% | 71% | 52% | 52% | 49% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Year Ended | Period Ended 3/31/2018 (a) | ||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | ||||||
Net asset value, beginning of period | $ 28.07 | $ 17.50 | $ 21.73 | $ 21.09 | $ 19.85 | ||||
Income from investment operations: | |||||||||
Net investment income (loss) | 0.64 | 0.58 | 0.73 | 0.78 | 0.41 | ||||
Net realized and unrealized gain (loss) | 2.40 | 10.61 | (4.24) | 0.58 | 1.18 | ||||
Total from investment operations | 3.04 | 11.19 | (3.51) | 1.36 | 1.59 | ||||
Distributions paid to shareholders from: | |||||||||
Net investment income | (0.63) | (0.62) | (0.72) | (0.72) | (0.35) | ||||
Net asset value, end of period | $30.48 | $28.07 | $17.50 | $21.73 | $21.09 | ||||
Total return (b) | 10.86% | 64.82% | (16.81)% | 6.64% | 8.00% | ||||
Ratios to average net assets/supplemental data: | |||||||||
Net assets, end of period (in 000’s) | $ 18,291 | $ 8,422 | $ 4,375 | $ 5,434 | $ 12,654 | ||||
Ratio of total expenses to average net assets | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% (c) (d) | ||||
Ratio of net investment income (loss) to average net assets | 2.33% | 2.65% | 3.23% | 2.98% | 3.32% (c) | ||||
Portfolio turnover rate (e) | 41% | 89% | 78% | 98% | 37% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Includes excise tax. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Fund | Index |
Developed International Equity Select ETF Emerging Markets Equity Select ETF Large Cap US Equity Select ETF Mid Cap US Equity Select ETF Small Cap US Equity Select ETF US Equity Dividend Select ETF | Nasdaq Riskalyze Developed Markets Index Nasdaq Riskalyze Emerging Markets Index Nasdaq Riskalyze US Large Cap Index Nasdaq Riskalyze US Mid Cap Index Nasdaq Riskalyze US Small Cap Index Nasdaq Riskalyze US Large Cap Select Dividend Index |
1) | the type of security; |
2) | the size of the holding; |
3) | the initial cost of the security; |
4) | transactions in comparable securities; |
5) | price quotes from dealers and/or third-party pricing services; |
6) | relationships among various securities; |
7) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
8) | an analysis of the issuer’s financial statements; and |
9) | the existence of merger proposals or tender offers that might affect the value of the security. |
1) | the value of similar foreign securities traded on other foreign markets; |
2) | ADR trading of similar securities; |
3) | closed-end fund or exchange-traded fund trading of similar securities; |
4) | foreign currency exchange activity; |
5) | the trading prices of financial products that are tied to baskets of foreign securities; |
6) | factors relating to the event that precipitated the pricing problem; |
7) | whether the event is likely to recur; and |
8) | whether the effects of the event are isolated or whether they affect entire markets, countries or regions. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
Developed International Equity Select ETF | $ 703,193 | $ — | $ — | ||
Emerging Markets Equity Select ETF | 180,487 | — | 49,961 | ||
Large Cap US Equity Select ETF | 328,071 | — | — | ||
Mid Cap US Equity Select ETF | 244,191 | — | — | ||
Small Cap US Equity Select ETF | 261,631 | — | — | ||
US Equity Dividend Select ETF | 359,126 | — | — |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
Developed International Equity Select ETF | $ 290,666 | $ — | $ — | ||
Emerging Markets Equity Select ETF | 258,857 | — | — | ||
Large Cap US Equity Select ETF | 298,901 | — | — | ||
Mid Cap US Equity Select ETF | 207,871 | — | — | ||
Small Cap US Equity Select ETF | 123,600 | — | — | ||
US Equity Dividend Select ETF | 143,336 | — | — |
Undistributed Ordinary Income | Accumulated Capital and Other Gain (Loss) | Net Unrealized Appreciation (Depreciation) | |||
Developed International Equity Select ETF | $ 76,952 | $ (2,360,196) | $ 425,255 | ||
Emerging Markets Equity Select ETF | — | (1,097,564) | 129,551 | ||
Large Cap US Equity Select ETF | 12,444 | (1,515,163) | 2,418,226 | ||
Mid Cap US Equity Select ETF | 12,795 | (1,848,227) | 848,639 | ||
Small Cap US Equity Select ETF | 16,538 | (1,170,060) | 597,738 | ||
US Equity Dividend Select ETF | 24,112 | (1,095,016) | 399,231 |
Non-Expiring Capital Loss Carryforward | |
Developed International Equity Select ETF | $ 2,360,196 |
Emerging Markets Equity Select ETF | 1,095,270 |
Large Cap US Equity Select ETF | 1,515,163 |
Mid Cap US Equity Select ETF | 1,848,227 |
Small Cap US Equity Select ETF | 1,170,060 |
US Equity Dividend Select ETF | 1,095,016 |
Ordinary Losses | |
Developed International Equity Select ETF | $ — |
Emerging Markets Equity Select ETF | 2,294 |
Large Cap US Equity Select ETF | — |
Mid Cap US Equity Select ETF | — |
Small Cap US Equity Select ETF | — |
US Equity Dividend Select ETF | — |
Accumulated Net Investment Income (Loss) | Accumulated Net Realized Gain (Loss) on Investments | Paid-in Capital | |||
Developed International Equity Select ETF | $ 88,300 | $ (893,708) | $ 805,408 | ||
Emerging Markets Equity Select ETF | (47,821) | 47,821 | — | ||
Large Cap US Equity Select ETF | — | (5,989,918) | 5,989,918 | ||
Mid Cap US Equity Select ETF | 3 | (3,667,669) | 3,667,666 | ||
Small Cap US Equity Select ETF | — | (2,246,983) | 2,246,983 | ||
US Equity Dividend Select ETF | — | (1,835,187) | 1,835,187 |
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | ||||
Developed International Equity Select ETF | $ 22,877,545 | $ 2,306,585 | $ (1,881,961) | $ 424,624 | |||
Emerging Markets Equity Select ETF | 7,096,282 | 977,512 | (826,547) | 150,965 | |||
Large Cap US Equity Select ETF | 19,236,069 | 3,156,515 | (738,289) | 2,418,226 | |||
Mid Cap US Equity Select ETF | 15,290,043 | 1,908,540 | (1,059,901) | 848,639 | |||
Small Cap US Equity Select ETF | 21,079,057 | 1,790,047 | (1,192,309) | 597,738 | |||
US Equity Dividend Select ETF | 17,850,740 | 1,154,862 | (755,631) | 399,231 |
Rate | |
Developed International Equity Select ETF | 0.65% |
Emerging Markets Equity Select ETF | 0.75% |
Large Cap US Equity Select ETF | 0.60% |
Mid Cap US Equity Select ETF | 0.60% |
Small Cap US Equity Select ETF | 0.60% |
US Equity Dividend Select ETF | 0.50% |
Purchases | Sales | ||
Developed International Equity Select ETF | $ 18,515,013 | $ 18,528,635 | |
Emerging Markets Equity Select ETF | 5,274,153 | 5,363,198 | |
Large Cap US Equity Select ETF | 5,939,284 | 5,885,073 | |
Mid Cap US Equity Select ETF | 8,482,469 | 8,455,871 | |
Small Cap US Equity Select ETF | 7,599,021 | 7,504,238 | |
US Equity Dividend Select ETF | 6,485,558 | 6,422,211 | |
Purchases | Sales | ||
Developed International Equity Select ETF | $ 5,110,523 | $ 5,015,102 | |
Emerging Markets Equity Select ETF | — | — | |
Large Cap US Equity Select ETF | 11,150,578 | 17,900,293 | |
Mid Cap US Equity Select ETF | 12,991,322 | 14,493,134 | |
Small Cap US Equity Select ETF | 18,556,227 | 7,127,458 | |
US Equity Dividend Select ETF | 19,066,557 | 10,377,194 |
Dividends Received Deduction | |
Developed International Equity Select ETF | 0.00% |
Emerging Markets Equity Select ETF | 0.00% |
Large Cap US Equity Select ETF | 100.00% |
Mid Cap US Equity Select ETF | 100.00% |
Small Cap US Equity Select ETF | 100.00% |
US Equity Dividend Select ETF | 100.00% |
Qualified Dividend Income | |
Developed International Equity Select ETF | 100.00% |
Emerging Markets Equity Select ETF | 68.73% |
Large Cap US Equity Select ETF | 100.00% |
Mid Cap US Equity Select ETF | 100.00% |
Small Cap US Equity Select ETF | 100.00% |
US Equity Dividend Select ETF | 100.00% |
Gross Foreign Income | Foreign Taxes Paid | ||||||
Amount | Per Share | Amount | Per Share | ||||
Developed International Equity Select ETF | $ 875,320 | $ 1.95 | $ 85,974 | $ 0.19 | |||
Emerging Markets Equity Select ETF | 336,597 | 2.24 | 92,347 | 0.62 |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INDEPENDENT TRUSTEES | ||||
Richard E. Erickson, Trustee (1951) | • Indefinite Term • Since Inception | Physician, Edward-Elmhurst Medical Group; Physician and Officer, Wheaton Orthopedics (1990 to 2021) | 217 | None |
Thomas R. Kadlec, Trustee (1957) | • Indefinite Term • Since Inception | President, ADM Investor Services, Inc. (Futures Commission Merchant) | 217 | Director of ADM Investor Services, Inc., ADM Investor Services International, Futures Industry Association, and National Futures Association |
Denise M. Keefe, Trustee (1964) | • Indefinite Term • Since 2021 | Executive Vice President, Advocate Aurora Health and President, Advocate Aurora Continuing Health Division (Integrated Healthcare System) | 217 | Director and Board Chair of Advocate Home Health Services, Advocate Home Care Products and Advocate Hospice; Director and Board Chair of Aurora At Home (since 2018); Director of Advocate Physician Partners Accountable Care Organization; Director and Board Chair of RML Long Term Acute Care Hospitals; and Director of Senior Helpers (since 2021) |
Robert F. Keith, Trustee (1956) | • Indefinite Term • Since Inception | President, Hibs Enterprises (Financial and Management Consulting) | 217 | Director of Trust Company of Illinois |
Niel B. Nielson, Trustee (1954) | • Indefinite Term • Since Inception | Senior Advisor (August 2018 to Present), Managing Director and Chief Operating Officer (January 2015 to August 2018), Pelita Harapan Educational Foundation (Educational Products and Services) | 217 | None |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INTERESTED TRUSTEE | ||||
James A. Bowen(1), Trustee and Chairman of the Board (1955) | • Indefinite Term • Since Inception | Chief Executive Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chairman of the Board of Directors, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) | 217 | None |
Name and Year of Birth | Position and Offices with Trust | Term of Office and Length of Service | Principal Occupations During Past 5 Years |
OFFICERS(2) | |||
James M. Dykas (1966) | President and Chief Executive Officer | • Indefinite Term • Since January 2016 | Managing Director and Chief Financial Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chief Financial Officer, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) |
Donald P. Swade (1972) | Treasurer, Chief Financial Officer and Chief Accounting Officer | • Indefinite Term • Since January 2016 | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
W. Scott Jardine (1960) | Secretary and Chief Legal Officer | • Indefinite Term • Since Inception | General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P.; Secretary and General Counsel, BondWave LLC; Secretary, Stonebridge Advisors LLC |
Daniel J. Lindquist (1970) | Vice President | • Indefinite Term • Since Inception | Managing Director, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Kristi A. Maher (1966) | Chief Compliance Officer and Assistant Secretary | • Indefinite Term • Since Inception | Deputy General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Roger F. Testin (1966) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Stan Ueland (1970) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
(1) | Mr. Bowen is deemed an “interested person” of the Trust due to his position as CEO of First Trust Advisors L.P., investment advisor of the Trust. |
(2) | The term “officer” means the president, vice president, secretary, treasurer, controller or any other officer who performs a policy making function. |
• | Information we receive from you and your broker-dealer, investment professional or financial representative through interviews, applications, agreements or other forms; |
• | Information about your transactions with us, our affiliates or others; |
• | Information we receive from your inquiries by mail, e-mail or telephone; and |
• | Information we collect on our website through the use of “cookies”. For example, we may identify the pages on our website that your browser requests or visits. |
• | In order to provide you with products and services and to effect transactions that you request or authorize, we may disclose your personal information as described above to unaffiliated financial service providers and other companies that perform administrative or other services on our behalf, such as transfer agents, custodians and trustees, or that assist us in the distribution of investor materials such as trustees, banks, financial representatives, proxy services, solicitors and printers. |
• | We may release information we have about you if you direct us to do so, if we are compelled by law to do so, or in other legally limited circumstances (for example to protect your account from fraud). |
FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
First Trust Indxx Medical Devices ETF (MDEV)
For the Period Ended
March 31, 2021
1 | |
2 | |
3 | |
5 | |
Portfolio of Investments | |
6 | |
8 | |
9 | |
10 | |
11 | |
12 | |
18 | |
19 | |
23 | |
25 |
Performance | ||
Cumulative Total Returns | ||
Inception (6/22/21) to 3/31/22 | ||
Fund Performance | ||
NAV | -10.93% | |
Market Price | -10.81% | |
Index Performance | ||
Indxx Global Medical Equipment Index | -10.13% | |
MSCI World Health Care Index | 5.86% |
Sector Allocation | % of Total Investments |
Health Care | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Sonova Holding AG | 2.6% |
Becton Dickinson and Co. | 2.5 |
STERIS PLC | 2.5 |
Edwards Lifesciences Corp. | 2.5 |
Hologic, Inc. | 2.4 |
Boston Scientific Corp. | 2.3 |
PerkinElmer, Inc. | 2.3 |
Thermo Fisher Scientific, Inc. | 2.3 |
Cooper (The) Cos., Inc. | 2.3 |
Stryker Corp. | 2.3 |
Total | 24.0% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Beginning Account Value October 1, 2021 | Ending Account Value March 31, 2022 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
First Trust Indxx Medical Devices ETF (MDEV) | ||||
Actual | $1,000.00 | $867.30 | 0.70% | $3.26 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.44 | 0.70% | $3.53 |
(a) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (October 1, 2021 through March 31, 2022), multiplied by 182/365 (to reflect the six-month period). |
Shares | Description | Value | ||
COMMON STOCKS – 99.6% | ||||
Biotechnology – 1.7% | ||||
540 | Exact Sciences Corp. (a) | $37,757 | ||
Health Care Equipment & Supplies – 74.9% | ||||
427 | Abbott Laboratories | 50,540 | ||
150 | ABIOMED, Inc. (a) | 49,686 | ||
643 | Alcon, Inc. (b) | 50,942 | ||
79 | Align Technology, Inc. (a) | 34,444 | ||
1,885 | Ambu A.S., Class B (b) | 27,749 | ||
630 | Baxter International, Inc. | 48,850 | ||
212 | Becton Dickinson and Co. | 56,392 | ||
445 | BioMerieux (b) | 47,495 | ||
1,171 | Boston Scientific Corp. (a) | 51,864 | ||
270 | Carl Zeiss Meditec AG (b) | 43,491 | ||
328 | Coloplast A.S., Class B (b) | 49,672 | ||
123 | Cooper (The) Cos., Inc. | 51,364 | ||
1,104 | Demant A.S. (a) (b) | 49,961 | ||
871 | DENTSPLY SIRONA, Inc. | 42,871 | ||
96 | DexCom, Inc. (a) | 49,114 | ||
465 | Edwards Lifesciences Corp. (a) | 54,740 | ||
2,408 | Fisher & Paykel Healthcare Corp., Ltd. (b) | 40,407 | ||
708 | Hologic, Inc. (a) | 54,388 | ||
294 | Hoya Corp. (b) | 33,504 | ||
174 | Insulet Corp. (a) | 46,352 | ||
154 | Intuitive Surgical, Inc. (a) | 46,459 | ||
1,172 | Koninklijke Philips N.V. (b) | 35,739 | ||
186 | Masimo Corp. (a) | 27,070 | ||
404 | Medtronic PLC | 44,824 | ||
453 | Novocure Ltd. (a) | 37,531 | ||
2,440 | Olympus Corp. (b) | 46,244 | ||
199 | ResMed, Inc. | 48,259 | ||
787 | Siemens Healthineers AG (b) (c) (d) | 48,771 | ||
2,953 | Smith & Nephew PLC (b) | 46,967 | ||
138 | Sonova Holding AG (b) | 57,648 | ||
230 | STERIS PLC | 55,607 | ||
28 | Straumann Holding AG (a) (b) | 44,707 | ||
192 | Stryker Corp. | 51,331 | ||
378 | Sysmex Corp. (b) | 27,378 | ||
139 | Teleflex, Inc. | 49,321 | ||
1,130 | Terumo Corp. (b) | 34,192 | ||
345 | Zimmer Biomet Holdings, Inc. | 44,125 | ||
34 | Zimvie, Inc. (a) | 777 | ||
1,680,776 | ||||
Health Care Providers & Services – 1.4% | ||||
485 | Guardant Health, Inc. (a) | 32,126 | ||
Life Sciences Tools & Services – 21.6% | ||||
325 | 10X Genomics, Inc., Class A (a) | 24,723 | ||
332 | Agilent Technologies, Inc. | 43,934 | ||
70 | Bio-Rad Laboratories, Inc., Class A (a) | 39,426 |
Shares | Description | Value | ||
Life Sciences Tools & Services (Continued) | ||||
169 | Danaher Corp. | $49,573 | ||
36 | Mettler-Toledo International, Inc. (a) | 49,435 | ||
297 | PerkinElmer, Inc. | 51,815 | ||
101 | Sartorius Stedim Biotech (b) | 41,351 | ||
87 | Thermo Fisher Scientific, Inc. | 51,386 | ||
147 | Waters Corp. (a) | 45,627 | ||
124 | West Pharmaceutical Services, Inc. | 50,928 | ||
2,252 | WuXi AppTec Co., Ltd., Class H (b) (c) (d) | 35,185 | ||
483,383 | ||||
Total Investments – 99.6% | 2,234,042 | |||
(Cost $2,810,211) | ||||
Net Other Assets and Liabilities – 0.4% | 8,336 | |||
Net Assets – 100.0% | $2,242,378 |
(a) | Non-income producing security. |
(b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At March 31, 2022, securities noted as such are valued at $761,403 or 34.0% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(d) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
Currency Exposure Diversification | % of Total Investments |
United States Dollar | 65.9% |
Euro | 9.7 |
Swiss Franc | 6.9 |
Japanese Yen | 6.3 |
Danish Krone | 5.7 |
British Pound Sterling | 2.1 |
New Zealand Dollar | 1.8 |
Hong Kong Dollar | 1.6 |
Total | 100.0% |
Total Value at 3/31/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Health Care Equipment & Supplies | $ 1,680,776 | $ 995,909 | $ 684,867 | $ — |
Life Sciences Tools & Services | 483,383 | 406,847 | 76,536 | — |
Other industry categories* | 69,883 | 69,883 | — | — |
Total Investments | $ 2,234,042 | $ 1,472,639 | $ 761,403 | $— |
* | See Portfolio of Investments for industry breakout. |
ASSETS: | |
Investments, at value (Cost $2,810,211) | $ 2,234,042 |
Cash | 6,103 |
Receivables: | |
Dividends | 2,963 |
Dividend reclaims | 567 |
Total Assets | 2,243,675 |
LIABILITIES: | |
Investment advisory fees payable | 1,297 |
Total Liabilities | 1,297 |
NET ASSETS | $2,242,378 |
NET ASSETS consist of: | |
Paid-in capital | $ 2,841,138 |
Par value | 1,000 |
Accumulated distributable earnings (loss) | (599,760) |
NET ASSETS | $2,242,378 |
NET ASSET VALUE, per share | $22.42 |
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 100,002 |
INVESTMENT INCOME: | ||
Dividends | $ 45,322 | |
Foreign withholding tax | (1,532) | |
Other | 12 | |
Total investment income | 43,802 | |
EXPENSES: | ||
Investment advisory fees | 89,932 | |
Total expenses | 89,932 | |
NET INVESTMENT INCOME (LOSS) | (46,130) | |
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||
Net realized gain (loss) on: | ||
Investments | (68,429) | |
In-kind redemptions | 198,841 | |
Foreign currency transactions | 906 | |
Net realized gain (loss) | 131,318 | |
Net change in unrealized appreciation (depreciation) on: | ||
Investments | (576,169) | |
Foreign currency translation | (28) | |
Net change in unrealized appreciation (depreciation) | (576,197) | |
NET REALIZED AND UNREALIZED GAIN (LOSS) | (444,879) | |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $(491,009) |
(a) | Inception date is June 22, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
Period Ended 3/31/2022 (a) | |
OPERATIONS: | |
Net investment income (loss) | $ (46,130) |
Net realized gain (loss) | 131,318 |
Net change in unrealized appreciation (depreciation) | (576,197) |
Net increase (decrease) in net assets resulting from operations | (491,009) |
SHAREHOLDER TRANSACTIONS: | |
Proceeds from shares sold | 40,832,103 |
Cost of shares redeemed | (38,098,716) |
Net increase (decrease) in net assets resulting from shareholder transactions | 2,733,387 |
Total increase (decrease) in net assets | 2,242,378 |
NET ASSETS: | |
Beginning of period | — |
End of period | $2,242,378 |
CHANGES IN SHARES OUTSTANDING: | |
Shares outstanding, beginning of period | — |
Shares sold | 1,600,002 |
Shares redeemed | (1,500,000) |
Shares outstanding, end of period | 100,002 |
(a) | Inception date is June 22, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
Period Ended 3/31/2022 (a) | |
Net asset value, beginning of period | $ 25.17 |
Income from investment operations: | |
Net investment income (loss) | (0.46) |
Net realized and unrealized gain (loss) | (2.29) |
Total from investment operations | (2.75) |
Net asset value, end of period | $22.42 |
Total return (b) | (10.93)% |
Ratios to average net assets/supplemental data: | |
Net assets, end of period (in 000’s) | $ 2,242 |
Ratio of total expenses to average net assets | 0.70% (c) |
Ratio of net investment income (loss) to average net assets | (0.36)% (c) |
Portfolio turnover rate (d) | 13% |
(a) | Inception date is June 22, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
1) | the type of security; |
2) | the size of the holding; |
3) | the initial cost of the security; |
4) | transactions in comparable securities; |
5) | price quotes from dealers and/or third-party pricing services; |
6) | relationships among various securities; |
7) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
8) | an analysis of the issuer’s financial statements; and |
9) | the existence of merger proposals or tender offers that might affect the value of the security. |
1) | the value of similar foreign securities traded on other foreign markets; |
2) | ADR trading of similar securities; |
3) | closed-end fund or exchange-traded fund trading of similar securities; |
4) | foreign currency exchange activity; |
5) | the trading prices of financial products that are tied to baskets of foreign securities; |
6) | factors relating to the event that precipitated the pricing problem; |
7) | whether the event is likely to recur; and |
8) | whether the effects of the event are isolated or whether they affect entire markets, countries or regions. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Undistributed ordinary income | $— |
Accumulated capital and other gain (loss) | (17,983) |
Net unrealized appreciation (depreciation) | (581,777) |
Accumulated Net Investment Income (Loss) | Accumulated Net Realized Gain (Loss) on Investments | Paid-in Capital | ||
$41,244 | $(149,995) | $108,751 |
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | |||
$2,815,791 | $11,136 | $(592,885) | $(581,749) |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INDEPENDENT TRUSTEES | ||||
Richard E. Erickson, Trustee (1951) | • Indefinite Term • Since Inception | Physician, Edward-Elmhurst Medical Group; Physician and Officer, Wheaton Orthopedics (1990 to 2021) | 217 | None |
Thomas R. Kadlec, Trustee (1957) | • Indefinite Term • Since Inception | President, ADM Investor Services, Inc. (Futures Commission Merchant) | 217 | Director of ADM Investor Services, Inc., ADM Investor Services International, Futures Industry Association, and National Futures Association |
Denise M. Keefe, Trustee (1964) | • Indefinite Term • Since 2021 | Executive Vice President, Advocate Aurora Health and President, Advocate Aurora Continuing Health Division (Integrated Healthcare System) | 217 | Director and Board Chair of Advocate Home Health Services, Advocate Home Care Products and Advocate Hospice; Director and Board Chair of Aurora At Home (since 2018); Director of Advocate Physician Partners Accountable Care Organization; Director and Board Chair of RML Long Term Acute Care Hospitals; and Director of Senior Helpers (since 2021) |
Robert F. Keith, Trustee (1956) | • Indefinite Term • Since Inception | President, Hibs Enterprises (Financial and Management Consulting) | 217 | Director of Trust Company of Illinois |
Niel B. Nielson, Trustee (1954) | • Indefinite Term • Since Inception | Senior Advisor (August 2018 to Present), Managing Director and Chief Operating Officer (January 2015 to August 2018), Pelita Harapan Educational Foundation (Educational Products and Services) | 217 | None |
Name, Year of Birth and Position with the Trust | Term of Office and Year First Elected or Appointed | Principal Occupations During Past 5 Years | Number of Portfolios in the First Trust Fund Complex Overseen by Trustee | Other Trusteeships or Directorships Held by Trustee During Past 5 Years |
INTERESTED TRUSTEE | ||||
James A. Bowen(1), Trustee and Chairman of the Board (1955) | • Indefinite Term • Since Inception | Chief Executive Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chairman of the Board of Directors, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) | 217 | None |
Name and Year of Birth | Position and Offices with Trust | Term of Office and Length of Service | Principal Occupations During Past 5 Years |
OFFICERS(2) | |||
James M. Dykas (1966) | President and Chief Executive Officer | • Indefinite Term • Since January 2016 | Managing Director and Chief Financial Officer, First Trust Advisors L.P. and First Trust Portfolios L.P.; Chief Financial Officer, BondWave LLC (Software Development Company) and Stonebridge Advisors LLC (Investment Advisor) |
Donald P. Swade (1972) | Treasurer, Chief Financial Officer and Chief Accounting Officer | • Indefinite Term • Since January 2016 | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
W. Scott Jardine (1960) | Secretary and Chief Legal Officer | • Indefinite Term • Since Inception | General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P.; Secretary and General Counsel, BondWave LLC; Secretary, Stonebridge Advisors LLC |
Daniel J. Lindquist (1970) | Vice President | • Indefinite Term • Since Inception | Managing Director, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Kristi A. Maher (1966) | Chief Compliance Officer and Assistant Secretary | • Indefinite Term • Since Inception | Deputy General Counsel, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Roger F. Testin (1966) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
Stan Ueland (1970) | Vice President | • Indefinite Term • Since Inception | Senior Vice President, First Trust Advisors L.P. and First Trust Portfolios L.P. |
(1) | Mr. Bowen is deemed an “interested person” of the Trust due to his position as CEO of First Trust Advisors L.P., investment advisor of the Trust. |
(2) | The term “officer” means the president, vice president, secretary, treasurer, controller or any other officer who performs a policy making function. |
• | Information we receive from you and your broker-dealer, investment professional or financial representative through interviews, applications, agreements or other forms; |
• | Information about your transactions with us, our affiliates or others; |
• | Information we receive from your inquiries by mail, e-mail or telephone; and |
• | Information we collect on our website through the use of “cookies”. For example, we may identify the pages on our website that your browser requests or visits. |
• | In order to provide you with products and services and to effect transactions that you request or authorize, we may disclose your personal information as described above to unaffiliated financial service providers and other companies that perform administrative or other services on our behalf, such as transfer agents, custodians and trustees, or that assist us in the distribution of investor materials such as trustees, banks, financial representatives, proxy services, solicitors and printers. |
• | We may release information we have about you if you direct us to do so, if we are compelled by law to do so, or in other legally limited circumstances (for example to protect your account from fraud). |
FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
First Trust Exchange Traded Fund VI
S-Network Healthcare Technology ETF
Statement of Assets and Liabilities
March 31, 2022
ASSETS: | ||||
Cash | $ | 50 | ||
Total Assets | $ | 50 |
NET ASSETS consist of: | ||||
Paid-in capital | $ | 50 | ||
NET ASSETS | $ | 50 |
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 2 | |||
NET ASSET VALUE, per share | $ | 25.00 |
The accompanying notes are an integral part of the Statement of Assets and Liabilities.
Note 1: Organization
First Trust S-Network Healthcare Technology ETF (the “Fund”), which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), is a series of the First Trust Exchange-Traded Fund VI (the “Trust”), a registered open-end investment company that was organized as a Massachusetts business trust on June 4, 2012. The Fund has had no operations through March 31, 2022 other than matters relating to organization and registration and the sale of its shares to First Trust Portfolios L.P., the sole shareholder of the Fund.
The investment objective of the Fund is to seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the S-Network Healthcare Technology Index (the “Index”). Once the Fund commences investment operations, the Fund will normally invest at least 80% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index.
Note 2: Significant Accounting Policies
The Fund is considered an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, “Financial Services – Investment Companies.” The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of the financial statement. The preparation of the financial statement in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the Statement of Assets and Liabilities. Actual results could differ from these estimates.
The Fund intends to qualify as a regulated investment company by complying with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, which includes distributing substantially all of its net investment income and net realized gains to shareholders. Accordingly, no provision has been made for federal and state income taxes. However, due to the timing and amount of distributions, the Fund may be subject to an excise tax of 4% of the amount by which 98% of the Fund’s taxable income exceeds the distributions from such taxable income for the calendar year.
Note 3: Investment Advisory Fee, Affiliated Transactions and Other Fee Arrangements
First Trust Advisors L.P. (“First Trust”), the Fund’s Advisor, is a limited partnership with one limited partner, Grace Partners of DuPage L.P., and one general partner, The Charger Corporation. The Charger Corporation is an Illinois corporation controlled by James A. Bowen, Chief Executive Officer of First Trust. First Trust is responsible for the selection and ongoing monitoring of the securities in the Fund’s portfolio, managing the Fund’s business affairs and providing certain administrative services necessary for the management of the Fund.
Once the Fund commences investment operations, First Trust will be paid an annual unitary management fee of 0.65% of the Fund’s average daily net assets. First Trust is responsible for the expenses of the Fund including the cost of transfer agency, custody, fund administration, licensing fees, legal, audit, and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, brokerage commissions and other expenses associated with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, acquired fund fees and expenses, and extraordinary expenses, which are paid by the Fund. Once the Fund commences investment operations, First Trust will also provide fund reporting services to the Fund for a flat annual fee in the amount of $9,250, which is covered under the annual unitary management fee.
The Trust has multiple service agreements with Brown Brothers Harriman & Co. (“BBH”). Under the service agreements, BBH performs custodial, fund accounting, certain administrative services, and transfer agency services for the Fund. As custodian, BBH is responsible for custody of the Fund’s assets. As fund accountant and administrator, BBH is responsible for maintaining the books and records of the Fund’s securities and cash. As transfer agent, BBH is responsible for maintaining shareholder records for the Fund.
Each Trustee who is not an officer or employee of First Trust, any sub-advisor or any of their affiliates (“Independent Trustees”) is paid a fixed annual retainer that is allocated equally among each fund in the First Trust Fund Complex. Each Independent Trustee is also paid an annual per fund fee that varies based on whether the fund is a closed-end or other actively managed fund, a defined-outcome fund or an index fund.
Additionally, the Lead Independent Trustee and the Chairs of the Audit Committee, Nominating and Governance Committee and Valuation Committee are paid annual fees to serve in such capacities, with such compensation allocated pro rata among each fund in the First Trust Fund Complex based on net assets. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The Lead Independent Trustee and Committee Chairs rotate every three years. The officers and “Interested” Trustee receive no compensation from the Trust for acting in such capacities.
Note 4: Capital
Subsequent to the Fund’s commencement of investment operations, the Fund will issue and redeem shares in primary market transactions through a creation and redemption mechanism. The Fund will not sell or redeem individual shares. Instead, financial entities known as “Authorized Participants” have contractual arrangements with the Fund or one of the Fund’s service providers to purchase and redeem Fund shares directly with the Fund in large blocks of shares known as “Creation Units.” Prior to the start of trading on every business day, the Fund publishes through the National Securities Clearing Corporation (“NSCC”) the “basket” of securities, cash or other assets that it will accept in exchange for a Creation Unit of the Fund’s shares. An Authorized Participant that wishes to effectuate a creation of the Fund’s shares deposits with the Fund the “basket” of securities, cash or other assets identified by the Fund that day, and then receives the Creation Unit of the Fund’s shares in return for those assets. After purchasing a Creation Unit, the Authorized Participant may continue to hold the Fund’s shares or sell them in the secondary market. The redemption process is the reverse of the purchase process: the Authorized Participant redeems a Creation Unit of the Fund’s shares for a basket of securities, cash or other assets. The combination of the creation and redemption process with secondary market trading in the Fund’s shares and underlying securities provides arbitrage opportunities that are designed to help keep the market price of the Fund’s shares at or close to the NAV per share of the Fund.
The Fund will impose fees in connection with the purchase of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price for each Creation Unit will equal the daily NAV per share of the Fund times the number of shares in a Creation Unit, plus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the creation basket.
The Fund also will impose fees in connection with the redemption of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price received for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, minus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the redemption basket. Investors who use the services of a broker or other such intermediary in addition to an Authorized Participant to effect a redemption of a Creation Unit may also be assessed an amount to cover the cost of such services. The redemption fee charged by the Fund will comply with Rule 22c-2 of the 1940 Act which limits redemption fees to no more than 2% of the value of the shares redeemed.
Note 5: Subsequent Events
Management has evaluated the impact of all subsequent events to the Fund through the date the financial statement was issued and has determined that there were no subsequent events requiring recognition or disclosure in the financial statement that have not already been disclosed.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholders and the Board of Trustees of First Trust Exchange-Traded Fund VI:
Opinion on the Financial Statement
We have audited the accompanying statement of assets and liabilities of First Trust S-Network Healthcare Technology ETF, (the “Fund”), a series of First Trust Exchange-Traded Fund VI, and the related notes. In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Fund as of March 31, 2022, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
This financial statement is the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion.
Chicago, Illinois
May 23, 2022
We have served as the auditor of one or more First Trust investment companies since 2001.
(b) | Not applicable. |
Item 2. Code of Ethics.
(a) | The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. |
(c) | There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description. |
(d) | The registrant, during the period covered by this report, has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions. |
(e) | Not applicable. |
(f) | A copy of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller is filed as an exhibit pursuant to Item 13(a)(1). |
Item 3. Audit Committee Financial Expert.
As of the end of the period covered by the report, the registrant’s Board of Trustees has determined that Thomas R. Kadlec and Robert F. Keith are qualified to serve as audit committee financial experts serving on its audit committee and that each of them is “independent,” as defined by Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
(a) Audit Fees (Registrant) -- The aggregate fees billed for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $252,000 for the fiscal year ended March 31, 2021 and $306,750 for the fiscal year ended March 31, 2022.
(b) Audit-Related Fees (Registrant) -- The aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended March 31, 2021 and $0 for the fiscal year ended March 31, 2022.
Audit-Related Fees (Investment Adviser and Distributor) -- The aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for the fiscal year ended March 31, 2021 and $0 for the fiscal year ended March 31, 2022.
(c) Tax Fees (Registrant) -- The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant were $248,180 for the fiscal year ended March 31, 2021 and $69,178 for the fiscal year ended March 31, 2022. These fees were for tax consultation and/or tax return preparation and professional services rendered for PFIC (Passive Foreign Investment Company) Identification Services.
Tax Fees (Investment Adviser and Distributor) -- The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning to the registrant’s adviser and distributor were $0 for the fiscal year ended March 31, 2021 and $0 for the fiscal year ended March 31, 2022.
(d) All Other Fees (Registrant) -- The aggregate fees billed for products and services provided by the principal accountant to the registrant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended March 31, 2021 and $0 for the fiscal year ended March 31, 2022.
All Other Fees (Investment Adviser and Distributor) -- The aggregate fees billed for products and services provided by the principal accountant to the registrant’s investment adviser and distributor, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the fiscal year ended March 31, 2021 and $0 for the fiscal year ended March 31, 2022.
(e)(1) Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c) (7) of Rule 2-01 of Regulation S-X.
Pursuant to its charter and its Audit and Non-Audit Services Pre-Approval Policy, the Audit Committee (the “Committee”) is responsible for the pre-approval of all audit services and permitted non-audit services (including the fees and terms thereof) to be performed for the registrant by its independent auditors. The Chairman of the Committee is authorized to give such pre-approvals on behalf of the Committee up to $25,000 and report any such pre-approval to the full Committee.
The Committee is also responsible for the pre-approval of the independent auditor’s engagements for non-audit services with the registrant’s adviser (not including a sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser) and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant, if the engagement relates directly to the operations and financial reporting of the registrant, subject to the de minimis exceptions for non-audit services described in Rule 2-01 of Regulation S-X. If the independent auditor has provided non-audit services to the registrant’s adviser (other than any sub-adviser whose role is primarily portfolio management and is sub-contracted with or overseen by another investment adviser) and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to its policies, the Committee will consider whether the provision of such non-audit services is compatible with the auditor’s independence.
(e)(2) The percentage of services described in each of paragraphs (b) through (d) for the registrant and the registrant’s investment adviser and distributor of this Item that were approved by the audit committee pursuant to the pre-approval exceptions included in paragraph (c)(7)(i)(C) or paragraph(C)(7)(ii) of Rule 2-01 of Regulation S-X are as follows:
Registrant: | Adviser and Distributor: |
(b) 0% | (b) 0% |
(c) 0% | (c) 0% |
(d) 0% | (d) 0% |
(f) The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was less than fifty percent.
(g) The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal year ended March 31, 2021, were $248,180 for the registrant, $23,200 for the registrant’s investment adviser, and $29,500 for the registrant’s distributor and for the fiscal year ended March 31, 2022, were $69,178 for the registrant, $16,500 for the registrant’s investment adviser, and $29,500 for the registrant’s distributor.
(h) The registrant’s audit committee of its Board of Trustees has determined that the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.
(i) | Not applicable. |
(j) | Not applicable. |
Items 5. Audit Committee of Listed Registrants.
The registrant has a separately designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934. The audit committee of the registrant is comprised of: Richard E. Erickson, Thomas R. Kadlec, Denise M. Keefe, Robert F. Keith and Niel B. Nielson.
Item 6. Investments.
(a) | The Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form. |
(b) | Not applicable. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407 (c) (2) (iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22 (b) (15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
(a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, regarding the effectiveness of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Act (17 CFR 270.30a-3(c))) as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Exchange Act (17 CFR 240.13a-15(b) or 240.15d-15(b)). |
(b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a)(1) | Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto. |
(a)(2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(3) | Not applicable. |
(a)(4) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) | First Trust Exchange-Traded Fund VI |
By (Signature and Title)* | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date: | June 6, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date: | June 6, 2022 |
By (Signature and Title)* | /s/ Donald P. Swade | |
Donald P. Swade, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
Date: | June 6, 2022 |
* Print the name and title of each signing officer under his or her signature.