First Trust Specialty Finance and Financial Opportunities Fund

Frequently Asked Questions About FGB

What does FGB invest in?

The First Trust Specialty Finance and Financial Opportunities Fund (FGB) functions as a closed-end equity mutual fund. It was established and is primarily overseen by First Trust Advisors L.P., with additional management responsibilities shared by Confluence Investment Management LLC. The fund's investment approach concentrates on public equity markets within the United States, specifically seeking out companies operating in the specialty finance and broader financial sectors. Its portfolio predominantly consists of value stocks, supplemented by investments in Business Development Companies (BDCs), Real Estate Investment Trusts (REITs), and various mortgage-related securities. All investment decisions are guided by a thorough process of fundamental analysis. To assess its performance, the fund utilizes a composite benchmark consisting of 70% Wells Fargo BDC Index, 20% FTSE NAREIT Mortgage REIT Index, and 10% S&P SmallCap Financials Index. Formed on March 20, 2007, and domiciled in the U.S., the fund was formerly identified as the First Trust/Gallatin Specialty Finance and Financial Opportunities Fund.

What is the expense ratio of FGB?

First Trust Specialty Finance and Financial Opportunities Fund (FGB) charges an expense ratio of 0.00%. This is the annual fee deducted from fund assets to cover management and operations.

How big is FGB?

First Trust Specialty Finance and Financial Opportunities Fund (FGB) manages $59.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is FGB actively managed or an index fund?

FGB is a passive index fund — it tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (FGB's is 0.00%) because there's no security selection cost.

When was FGB launched?

First Trust Specialty Finance and Financial Opportunities Fund (FGB) launched in May 2007 and is managed by First Trust.

How has FGB performed?

FGB's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.