# First Trust Multi-Manager Small Cap Opportunities ETF (MMSC): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/mmsc for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: First Trust · Asset class: Small/Micro Cap Equity - Strategy: Actively Managed · Inception: 2021-10-13 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 corpor... ## Key Facts | Metric | Value | |---|---| | Price | $26.56 | | Expense Ratio | 0.95% | | Assets Under Management | $51.1M | | NAV | $26.21 | | Holdings Count | 200 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | Irregular | | 52-Week Range | $22.18 – $29.62 | | Beta | 1.34 | ## Latest Distribution - Amount: $0.0854 /share - Ex-date: 2024-12-13 - Pay date: 2024-12-31 ## Frequently Asked Questions ### 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 $51.1M 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 actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (MMSC's is 0.95%) in exchange for the discretion to over- or under-weight positions. ### 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. ### Does MMSC pay a dividend? First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does MMSC pay dividends? First Trust Multi-Manager Small Cap Opportunities ETF pays dividends Irregular. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is MMSC's dividend yield? MMSC's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is MMSC's next ex-dividend date? The most recently announced ex-dividend date for MMSC was 2024-12-13. The next ex-date typically follows Irregular; once announced it appears at the top of the dividend history table on this page. ### How much will MMSC's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.95% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does MMSC charge its expense ratio? The expense ratio is deducted in tiny daily slices from MMSC's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does MMSC cost more than a fund like VOO? MMSC is actively managed (current expense ratio 0.95%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether MMSC's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to MMSC? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as MMSC (0.95%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/mmsc - Distribution history: https://www.dividenddata.com/funds/mmsc/dividend - Holdings & diversification: https://www.dividenddata.com/funds/mmsc/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/mmsc/expenses - Peer comparison: https://www.dividenddata.com/funds/mmsc/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.