First Trust Senior Loan Fund

Frequently Asked Questions About FTSL

What does FTSL invest in?

The First Trust Senior Loan Fund is an actively managed exchange-traded fund (ETF) that primarily aims to deliver substantial current income. This is achieved by principally allocating its capital to a diverse portfolio of first-priority, senior, floating-rate bank loans, commonly referred to as "Senior Loans." A secondary goal of the fund is the protection of its invested capital. Under normal market conditions, the fund commits at least 80% of its net assets to Senior Loans, with a focus on those extended to businesses predominantly operating in North America. Up to 20% of its net assets may also be invested in other asset types, including debt instruments that are not Senior Loans, warrants, equity securities, and holdings in other collective investment schemes.

What is the expense ratio of FTSL?

First Trust Senior Loan Fund (FTSL) charges an expense ratio of 0.70%. This is the annual fee deducted from fund assets to cover management and operations.

How big is FTSL?

First Trust Senior Loan Fund (FTSL) manages $2.47B 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 FTSL actively managed or an index fund?

FTSL is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (FTSL's is 0.70%) in exchange for the discretion to over- or under-weight positions.

When was FTSL launched?

First Trust Senior Loan Fund (FTSL) launched in May 2013 and is managed by First Trust.

How has FTSL performed?

FTSL'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.