ETF Evaluator:
First Trust Core Investment Grade ETF (FTCB)
Follow This ETF
(as of Aug 14)
Best Performing in Intermediate Core Bond Over the Last Year
| 7.3% | Aptus Enhanced Yield ETF (JUCY) |
| 6.6% | SGI Enhanced Core ETF (USDX) |
| 5.9% | Hartford Schroders Tax-Aware Bond ETF (HTAB) |
| 5.1% | Overlay Shares Core Bond ETF (OVB) |
| 4.8% | NEOS Enhanced Income Aggregate Bond ETF (BNDI) |
Risk
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Risk
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ETF Details
First Trust Core Investment Grade ETF Overview
First Trust Core Investment Grade ETF (FTCB) is an actively managed Taxable Bond Intermediate Core Bond exchange-traded fund (ETF). First Trust launched the ETF in 2023.
The investment seeks to maximize long-term total return.
Under normal market conditions, the fund seeks to invest 100% of its investment portfolio in investment grade securities. Investment grade securities are those securities that are, at the time of purchase, rated as investment grade (i.e., rated Baa3/BBB- or above) by at least one nationally recognized statistical rating organization (“NRSRO”) rating such securities, or if unrated, debt securities determined by the fund’s investment advisor to be of comparable quality. The fund is non-diversified.
About First Trust Core Investment Grade ETF (FTCB)
There are 6 members of the management team with an average tenure of 2.73 years: Scott Skowronski (2023), Jeremiah Charles (2023), Nathan Simons (2023), Owen Aronson (2023), James Snyder (2023) and Todd Larson (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
First Trust Core Investment Grade ETF has 798 securities in its portfolio. The top 10 holdings constitute 36.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
First Trust Core Investment Grade ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. First Trust Core Investment Grade ETF has 5.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.5% (92.3% domestic bond, 5.2% foreign bond and 0.0% convertible bond). First Trust Core Investment Grade ETF has 2.5% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is below the $6 billion average for the Intermediate Core Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FTCB Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The First Trust Core Investment Grade ETF expense ratio is average compared to funds in the Intermediate Core Bond category. First Trust Core Investment Grade ETF has an expense ratio of 0.56%, which is 75% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. First Trust Core Investment Grade ETF has a portfolio turnover rate of 183%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 95% for the Intermediate Core Bond category.
Recently, in the month of July 2026, First Trust Core Investment Grade ETF returned -1.4%, which earned it a grade of D, as the Intermediate Core Bond category had an average return of -1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
First Trust Core Investment Grade ETF has a trailing yield of 5.06%, which is above the 4.44% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
First Trust Core Investment Grade ETF Grades
Year to date, the ETF has returned -0.5%, 0.1 percentage points worse than the category, which translates into a grade of B. The fund has returned 3.3% over the past year (grade of A).
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FTCB Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FTCB Return (NAV) | -1.4% | -0.9% | 3.3% | na | na | na |
| FTCB Return (Price) | -1.3% | -0.7% | 3.3% | na | na | na |
| NAV +/- Price Return | -0.074% | -0.145% | -0.049% | na | na | na |
| Intermediate Core Bond Avg | -1.2% | -0.7% | 3.0% | 4.0% | -0.3% | 1.5% |
| FTCB Grade (NAV) | D | F | A | na | na | na |
| +/- Category (NAV) | -0.2% | -0.2% | 0.2% | na | na | na |
| FTCB Tax-Cost Ratio | na | na | 2.1% | na | na | na |
FTCB Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FTCB Return (NAV) | -0.5% | 8.1% | 2.3% | na | na | na | na | na | na | na | na |
| FTCB Return (Price) | -0.6% | 8.1% | 2.6% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.175% | -0.002% | 0.104% | na | na | na | na | na | na | na | na |
| Intermediate Core Bond Avg | -0.4% | 7.1% | 1.9% | 6.0% | -13.2% | -1.5% | 7.6% | 9.1% | -0.5% | 3.7% | 3.0% |
| FTCB Grade (NAV) | B | A | A | na | na | na | na | na | na | na | na |
| +/- Category | -0.1% | 1.1% | 0.5% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 5.1% |
| Total Assets: | $ 2,543 Mil |
| Share Class Assets: | $ 2,543 Mil |
| Turnover: | 183.0% |
| Expense Ratio: | 0.56% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 2.7 years | |||
| Average Tenure: 2.7 years | |||
| Managers (Year): Skowronski Scott (2023), Charles Jeremiah (2023), Simons Nathan (2023), Aronson Owen (2023), Snyder James (2023), Larson Todd (2023) | |||
Portfolio Composition (as of 7/30/26)
| # of Holdings: | 798 |
| % in Top 10 Holdings: | 36.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 5.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 92.3% |
| Foreign Bond: | 5.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.5% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | First Trust |
| Phone Number: | 800-621-1675 |
| Website: | www.ftportfolios.com |
| Inception Date: | November 7, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.56% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.32% |
