First Trust Multi-Manager Small Cap Opportunities ETF

Frequently Asked Questions About MMSC

What does MMSC invest in?

This Exchange Traded Fund (ETF) aims to achieve significant long-term appreciation in its capital. Under typical market circumstances, it allocates a minimum of 80% of its total assets, potentially including funds borrowed for investment, to equity securities issued by smaller companies. These small-capitalization firms are defined as those whose market value, at the time of initial investment, falls within the range of companies comprising the Russell 2000 Growth Index as established during its most recent rebalancing. The fund's holdings are primarily composed of common shares from corporations headquartered in the United States, in addition to non-U.S. companies whose stocks are principally traded on U.S. exchanges. Through a multi-manager strategy, the ETF endeavors to access the growth-oriented portion of the small-cap equity market by integrating the expertise of various portfolio management teams.

What is the expense ratio of MMSC?

First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) charges an expense ratio of 0.95%. This is the annual fee deducted from fund assets to cover management and operations.

How big is MMSC?

First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) manages $52.3M 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 MMSC actively managed or an index fund?

MMSC 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 (MMSC's is 0.95%) because there's no security selection cost.

When was MMSC launched?

First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) launched in October 2021 and is managed by First Trust.

How has MMSC performed?

MMSC'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.