ETF Evaluator: First Trust Indxx Critical Metals ETF () Follow This ETF

First Trust Indxx Critical Metals ETF Overview

First Trust Indxx Critical Metals ETF (FMTL) is a passively managed Sector Equity Natural Resources exchange-traded fund (ETF). First Trust launched the ETF in 2025.

The investment seeks results that correspond generally to the price and yield (before the fund’s fees and expenses) of an index called the Indxx Global Critical Metals Index. The fund will normally invest at least 80% of its net assets (including investment borrowings) in the securities that comprise the index. The fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the index. The index is owned and is developed, maintained and sponsored by Indxx, Inc. (the “index provider”). The fund is non-diversified.

About First Trust Indxx Critical Metals ETF (FMTL)

There are 7 members of the management team with an average tenure of 0.74 years: Daniel Lindquist (2025), Jon Erickson (2025), David McGarel (2025), Stan Ueland (2025), Chris Peterson (2025), Erik Russo (2025) and Roger Testin (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 1 primary benchmark: Indxx Global Critical Metals TR USD index with a weighting of 100%. First Trust Indxx Critical Metals ETF has 50 securities in its portfolio. The top 10 holdings constitute 60.5% 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 Indxx Critical Metals ETF is part of the Equity global asset class and is within the Sector Equity ETF group. First Trust Indxx Critical Metals ETF has 79.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 21.0% There is 79.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). First Trust Indxx Critical Metals ETF has 0.0% of the portfolio in cash.

Assets Under Management

The fund has $25 million in total assets, which is below the $1 billion average for the Natural Resources 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.

FMTL 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 Indxx Critical Metals ETF expense ratio is above average compared to funds in the Natural Resources category. First Trust Indxx Critical Metals ETF has an expense ratio of 0.65%, which is 23% higher than its category average, making the fund expense ratio grade a D. 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 Indxx Critical Metals ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 41% for the Natural Resources category.

Recently, in the month of July 2026, First Trust Indxx Critical Metals ETF returned -0.2%, which earned it a grade of C, as the Natural Resources category had an average return of -2.2%. 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 Indxx Critical Metals ETF has a trailing yield of 0.00%, which is below the 2.30% category average. The fund normally distributes its income semi-annually 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 Indxx Critical Metals ETF Grades

Year to date, the ETF has returned 13.4%, 7.0 percentage points better than the category, which translates into a grade of B.

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