Municipal Income Opportunities Closed-End Portfolio, Series 101
Ticker Symbol: FPDBHX
33 Holdings (As of Day of Deposit) |
Ticker |
Name |
Initial
Weight |
Price* |
VFL |
abrdn National Municipal Income Fund |
2.00% |
$10.88 |
AFB |
AllianceBernstein National Municipal Income Fund, Inc. |
1.50% |
11.38 |
BKN |
BlackRock Investment Quality Municipal Trust, Inc. |
2.00% |
12.35 |
MUA |
BlackRock MuniAssets Fund, Inc. |
4.00% |
11.93 |
MHD |
BlackRock MuniHoldings Fund, Inc. |
4.00% |
12.32 |
MUE |
BlackRock MuniHoldings Quality Fund II, Inc. |
2.00% |
10.44 |
MVT |
BlackRock MuniVest Fund II, Inc. |
2.00% |
11.22 |
MYD |
BlackRock MuniYield Fund, Inc. |
4.00% |
11.18 |
MQY |
BlackRock MuniYield Quality Fund, Inc. |
4.00% |
12.62 |
MYI |
BlackRock MuniYield Quality Fund III, Inc. |
3.00% |
11.53 |
DMB |
BNY Mellon Municipal Bond Infrastructure Fund, Inc. |
3.00% |
10.80 |
DSM |
BNY Mellon Strategic Municipal Bond Fund, Inc. |
3.00% |
6.07 |
LEO |
BNY Mellon Strategic Municipals, Inc. |
4.00% |
6.32 |
KTF |
DWS Municipal Income Trust |
4.00% |
9.74 |
EOT |
Eaton Vance National Municipal Opportunities Trust |
1.50% |
17.36 |
FMN |
Federated Hermes Premier Municipal Income Fund |
1.50% |
11.73 |
VKI |
Invesco Advantage Municipal Income Trust II |
2.00% |
8.97 |
VCV |
Invesco California Value Municipal Income Trust |
3.00% |
10.80 |
OIA |
Invesco Municipal Income Opportunities Trust |
2.00% |
6.43 |
VMO |
Invesco Municipal Opportunity Trust |
4.00% |
10.04 |
VKQ |
Invesco Municipal Trust |
3.50% |
10.06 |
VGM |
Invesco Trust for Investment Grade Municipals |
2.00% |
10.36 |
NBH |
Neuberger Berman Municipal Fund Inc. |
3.50% |
11.10 |
NVG |
Nuveen AMT-Free Municipal Credit Income Fund |
4.00% |
12.89 |
NEA |
Nuveen AMT-Free Quality Municipal Income Fund |
4.00% |
11.55 |
NZF |
Nuveen Municipal Credit Income Fund |
4.00% |
12.73 |
NMZ |
Nuveen Municipal High Income Opportunity Fund |
4.00% |
11.42 |
NAD |
Nuveen Quality Municipal Income Fund |
4.00% |
12.01 |
NXP |
Nuveen Select Tax-Free Income Portfolio |
2.50% |
14.92 |
PMF |
PIMCO Municipal Income Fund |
2.50% |
9.44 |
PML |
PIMCO Municipal Income Fund II |
2.50% |
8.85 |
MMU |
Western Asset Managed Municipals Fund Inc. |
4.00% |
10.72 |
MHF |
Western Asset Municipal High Income Fund Inc. |
3.00% |
7.08 |
*As of the close of business on 8/29/24
Market values are for reference only and are not indicative of your individual
cost basis.
Not FDIC Insured Not Bank Guaranteed May Lose Value |
Portfolio Summary |
Initial Date of Deposit |
8/30/2024 |
Initial Public Offering Price |
$10.00 per Unit |
Portfolio Ending Date |
12/1/2025 |
Historical 12-Month Distribution Rate of Trust Holdings:* |
4.41% |
Historical 12-Month Distribution Per Unit:* |
$0.4413 |
Taxable Equivalent 12-Month Distribution Rate:** |
7.45% |
Cash CUSIP |
30337N142 |
Fee Accounts Cash CUSIP |
30337N159 |
*There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions
in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of
the securities included in the trust are for illustrative purposes only and are not indicative of the trust’s
distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted
average of the trailing 12-month distributions paid by the securities included in the portfolio. The historical
12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust’s
offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees
and expenses, which will be incurred when investing in a trust. Distributions may include realized short
term capital gains, realized long-term capital gains and/or return of capital. Certain of the issuers may have
reduced their dividends or distributions over the prior 12 months. The distribution per unit and rate paid by
the trust may be higher or lower than the amount shown above due to certain factors that may include, but
are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the
sale of securities in the portfolio.
**As of 8/30/24. The taxable equivalent annualized distribution rate is for illustrative purposes only. This
information illustrates approximately what you would have to earn on taxable investments to equal the
tax-exempt annualized distribution rate using the highest federal tax bracket and Medicare tax for 2024.
This information is based on present law as of the date of publication and does not account for any proposed
changes in tax rates. This information does not account for limitations on deductions, the alternative
minimum tax or taxes other than Federal personal income tax.
Fee Table (based on a $10 public offering
price per unit) |
|
Standard |
Fee/Wrap |
Deferred Sales Charge |
1.35% |
— |
Creation & Development Fee (C&D Fee) |
0.50% |
0.50% |
Maximum Sales Charge |
1.85% |
0.50% |
|
|
|
Estimated Organization Costs |
0.390% |
0.390% |
|
|
|
Operating Expenses |
0.215% |
0.215% |
Acquired Fund Fees and Expenses^ |
1.538% |
1.538% |
Estimated Annual Trust Operating Expenses |
1.753% |
1.753% |
^Although not actual trust operating expenses, the trust, and therefore unit holders, will indirectly bear
similar operating expenses of the funds in which the trust invests. These expenses are estimated and are
subject to change in the future.
The deferred sales charge will be deducted in three monthly installments commencing 12/20/24. When
the public offering price is less than or equal to $10.00 per unit, there will be no initial sales charge. If the
price exceeds $10.00 per unit, you will pay an initial sales charge. The C&D fee is a charge of $0.050 per unit
collected at the end of the initial offering period. If the price you pay exceeds $10.00 per unit, the C&D fee
will be less than 0.50%; if the price you pay is less than $10.00 per unit, the C&D fee will exceed 0.50%.
Estimated organization costs will be deducted from the assets of the trust at the end of the initial offering
period. Estimated organization costs and trust operating expenses are assessed on a fixed dollar amount per
unit basis which, as a percentage of average net assets, will vary over time. Actual expenses may be more or
less than the estimates. Please see “Fee Table” in the trust prospectus for additional information.
You should consider the portfolio's investment objectives, risks, and
charges and expenses carefully before investing. Contact your financial professional
or call First Trust Portfolios L.P. at 1.800.621.1675 to request a prospectus,
which contains this and other information about the portfolio. Read it carefully
before you invest.
Risk Considerations
An investment in this unmanaged
unit investment trust should be made with an understanding of
the risks associated with an investment in a portfolio of closed-end
funds which invest in municipal bonds.
Closed-end funds are subject to various risks, including
management’s ability to meet the fund’s investment objective,
and to manage the fund’s portfolio when the underlying
securities are redeemed or sold, during periods of market
turmoil and as investors’ perceptions regarding the funds or
their underlying investments change. Unlike open-end funds,
which trade at prices based on a current determination of the
fund’s net asset value, closed-end funds frequently trade at a
discount to their net asset value in the secondary market. All of
the closed-end funds employ the use of leverage, which
increases the volatility of such funds.
All of the funds invest in investment grade securities. Investment grade securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the investment grade bond market or
investors’ perception thereof, possible downgrades and defaults of interest and/or principal.
Municipal bonds are subject to numerous risks, including higher
interest rates, economic recession, deterioration of the
municipal bond market, possible downgrades and defaults of
interest and/or principal.
As the use of Internet technology has become more prevalent in
the course of business, the trust has become more susceptible to
potential operational risks through breaches in cybersecurity.
Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility
within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.
The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.
The value of the securities held by the trust may be subject to
steep declines or increased volatility due to changes in
performance or perception of the issuers. The markets for credit
instruments, including municipal securities, have experienced
periods of extreme illiquidity and volatility.
It is important to note that an investment can be made in the
underlying funds directly rather than through the trust. These
direct investments can be made without paying the trust’s sales
charge, operating expenses and organizational costs.
This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.
For a discussion of additional risks of investing in the trust see
the “Risk Factors” section of the prospectus.