ETF Evaluator:
First Trust Smith Opportnstc Fxd Inc ETF (FIXD)
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(as of Jul 31)
Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 10.5% | Infrastructure Capital Bond Income ETF (BNDS) |
| 7.0% | Monarch Ambassador Income ETF (MAMB) |
| 5.2% | PIMCO Active Bond ETF (BOND) |
| 4.8% | Nuveen Core Plus Bond ETF (NCPB) |
| 4.8% | Invesco Total Return Bond ETF (GTO) |
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Risk
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ETF Details
First Trust Smith Opportnstc Fxd Inc ETF Overview
First Trust Smith Opportnstc Fxd Inc ETF (FIXD) is an actively managed Taxable Bond Intermediate Core-Plus Bond exchange-traded fund (ETF). First Trust launched the ETF in 2017.
The investment seeks to maximize long-term total return.
The fund pursues its objective by investing at least 80% of its net assets (including investment borrowings) in fixed income securities. It may invest up to 35% of its net assets in corporate, non-U.S. and non-agency debt and other securities rated below investment grade by one or more nationally recognized statistical rating organization ("NRSRO"), or, if unrated, judged to be of comparable quality by the Sub-Advisor.
About First Trust Smith Opportnstc Fxd Inc ETF (FIXD)
There are 2 members of the management team with an average tenure of 1.14 years: Eric Bernum (2025) and Gibson Smith (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. First Trust Smith Opportnstc Fxd Inc ETF has 477 securities in its portfolio. The top 10 holdings constitute 21.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
First Trust Smith Opportnstc Fxd Inc ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. First Trust Smith Opportnstc Fxd Inc ETF has 4.4% 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 3.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.8% (92.4% domestic bond, 4.4% foreign bond and 0.0% convertible bond). First Trust Smith Opportnstc Fxd Inc ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $3 billion in total assets, which is above the $2 billion average for the Intermediate Core-Plus 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.
FIXD 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 Smith Opportnstc Fxd Inc ETF expense ratio is above average compared to funds in the Intermediate Core-Plus Bond category. First Trust Smith Opportnstc Fxd Inc ETF has an expense ratio of 0.65%, which is 42% 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 Smith Opportnstc Fxd Inc ETF has a portfolio turnover rate of 384%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 159% for the Intermediate Core-Plus Bond category.
Recently, in the month of June 2026, First Trust Smith Opportnstc Fxd Inc ETF returned 0.3%, which earned it a grade of C, as the Intermediate Core-Plus Bond category had an average return of 0.2%. 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 Smith Opportnstc Fxd Inc ETF has a trailing yield of 4.71%, which is above the 4.56% category average.
The fund normally distributes its income monthly.
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 Smith Opportnstc Fxd Inc ETF Grades
Year to date, the ETF has returned 0.9%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 4.1% over the past year (grade of D), 4.3% over the past three years (grade of F) and -0.4% per year over the past five years (grade of F).
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FIXD Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FIXD Return (NAV) | 0.3% | 1.2% | 4.1% | 4.3% | -0.4% | na |
| FIXD Return (Price) | 0.1% | 1.2% | 4.1% | 4.1% | -0.4% | na |
| NAV +/- Price Return | 0.229% | -0.025% | -0.000% | 0.128% | 0.020% | na |
| Intermediate Core-Plus Bond Avg | 0.2% | 1.1% | 4.3% | 5.1% | 0.8% | 2.3% |
| FIXD Grade (NAV) | C | B | D | F | F | na |
| +/- Category (NAV) | 0.1% | 0.1% | -0.2% | -0.8% | -1.1% | na |
| FIXD Tax-Cost Ratio | na | na | 1.9% | 1.8% | 1.5% | na |
FIXD Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FIXD Return (NAV) | 0.9% | 7.6% | 1.1% | 5.7% | -15.3% | -0.9% | 9.2% | 9.0% | 0.7% | na | na |
| FIXD Return (Price) | 0.6% | 7.9% | 0.6% | 5.7% | -15.0% | -1.1% | 8.9% | 9.3% | 0.5% | na | na |
| NAV +/- Price Ret | -0.262% | 0.046% | -0.407% | -0.000% | -0.023% | 0.175% | -0.030% | 3.5% | -34.6% | na | na |
| Intermediate Core-Plus Bond Avg | 0.9% | 7.4% | 2.9% | 6.6% | -13.1% | -0.8% | 8.0% | 9.8% | -0.2% | 4.3% | 4.9% |
| FIXD Grade (NAV) | C | C | F | F | F | D | B | D | A | na | na |
| +/- Category | -0.1% | 0.2% | -1.9% | -0.9% | -2.2% | -0.1% | 1.2% | -0.8% | 0.9% | na | na |
| Risk Measures | |
| Beta: | 1.13 |
| R-Squared: | 99% |
| Standard Deviation: | 6.3% |
| Category Risk Index: | 1.15 |
| Category Risk Rating: | High |
| Total Risk Index: | 0.52 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.7% |
| Total Assets: | $ 3,287 Mil |
| Share Class Assets: | $ 3,287 Mil |
| Turnover: | 384.0% |
| Expense Ratio: | 0.65% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.1 years | |||
| Average Tenure: 1.1 years | |||
| Managers (Year): Bernum Eric (2025), Smith Gibson (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 477 |
| % in Top 10 Holdings: | 21.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 3.0% |
| Domestic Bond: | 92.4% |
| Foreign Bond: | 4.4% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | First Trust |
| Phone Number: | 800-621-1675 |
| Website: | |
| Inception Date: | February 14, 2017 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.46% |
