First Trust Mortgage Income Fund

Frequently Asked Questions About FMY

What does FMY invest in?

The First Trust Mortgage Income Fund operates as a closed-end mutual fund primarily focused on generating income. It is managed by First Trust Advisors L.P., with Brookfield Investment Management Inc. sharing co-management responsibilities. The fund's investment mandate centers on the fixed income markets, specifically targeting a range of fixed income securities. A significant portion of its portfolio is dedicated to mortgage-backed securities (MBS), encompassing diverse categories such as pass-through certificates, collateralized mortgage obligations (CMOs), and both residential and commercial mortgage-backed instruments. Established on May 25, 2005, this U.S.-domiciled fund was initially known as the First Trust/FIDAC Mortgage Income Fund.

What is the expense ratio of FMY?

First Trust Mortgage Income Fund (FMY) charges an expense ratio of 1.40%. This is the annual fee deducted from fund assets to cover management and operations.

What is FMY's dividend yield?

FMY's trailing-twelve-month yield is 6.80%, calculated from the sum of dividends over the past year divided by the current price.

How big is FMY?

First Trust Mortgage Income Fund (FMY) manages $48.7M 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 FMY actively managed or an index fund?

FMY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was FMY launched?

First Trust Mortgage Income Fund (FMY) launched in May 2005 and is managed by First Trust.