Municipal Income ETF Portfolio, Series 13
Ticker Symbol: FDPIKX
23 Holdings (As of Day of Deposit) |
Ticker |
Name |
Initial
Weight |
Price* |
TAXF |
American Century Diversified Municipal Bond ETF |
4.51% |
$50.25 |
AVMU |
Avantis Core Municipal Fixed Income ETF |
3.50% |
46.17 |
MUST |
Columbia Multi-Sector Municipal Income ETF |
3.50% |
20.46 |
FLMI |
Franklin Dynamic Municipal Bond ETF |
5.00% |
24.35 |
HMOP |
Hartford Municipal Opportunities ETF |
4.00% |
38.67 |
PWZ |
Invesco California AMT-Free Municipal Bond ETF |
4.00% |
24.59 |
PZA |
Invesco National AMT-Free Municipal Bond ETF |
4.49% |
23.62 |
PZT |
Invesco New York AMT-Free Municipal Bond ETF |
3.99% |
22.90 |
MMIN |
IQ Mackay Municipal Insured ETF |
5.01% |
24.04 |
MMIT |
IQ Mackay Municipal Intermediate ETF |
4.99% |
24.13 |
MUB |
iShares National Muni Bond ETF |
3.49% |
106.47 |
JMUB |
JPMorgan Municipal ETF |
4.51% |
50.34 |
JMST |
JPMorgan Ultra-Short Municipal Income ETF |
4.51% |
50.70 |
MUNI |
PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund |
4.51% |
52.01 |
MINO |
PIMCO Municipal Income Opportunities Active Exchange-Traded Fund |
4.98% |
45.25 |
SMMU |
PIMCO Short Term Municipal Bond Active ETF |
3.99% |
49.80 |
SCMB |
Schwab Municipal Bond ETF |
4.50% |
51.45 |
HYMB |
SPDR Nuveen Bloomberg High Yield Municipal Bond ETF |
5.00% |
25.50 |
TFI |
SPDR Nuveen Bloomberg Municipal Bond ETF |
3.50% |
45.71 |
HYD |
VanEck High Yield Muni ETF |
5.01% |
51.64 |
MLN |
VanEck Long Muni ETF |
4.50% |
17.86 |
SHYD |
VanEck Short High-Yield Muni ETF |
4.50% |
22.31 |
VTEB |
Vanguard Tax-Exempt Bond ETF |
4.01% |
50.05 |
*As of the close of business on 5/21/24.
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 |
5/22/2024 |
Initial Public Offering Price
|
$10.00 per Unit |
Portfolio Ending Date |
8/22/2025 |
Historical 12-Month Distribution Rate of Trust Holdings:* |
2.96% |
Historical 12-Month Distribution Per Unit:* |
$0.2960 |
Taxable Equivalent 12-Month Distribution Rate** |
4.70% |
Cash CUSIP |
30335R426 |
Reinvestment CUSIP |
30335R434 |
Fee Accounts Cash CUSIP |
30335R442 |
Fee Accounts Reinvestment CUSIP |
30335R459 |
*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 5/22/24. 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 taxexempt
annualized distribution rate using the highest federal tax bracket 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.
Sales Charges (based on a $10 public offering
price) |
Standard Accounts |
Transactional Sales Charges |
Initial: |
0.00% |
|
Deferred: |
1.35% |
Creation & Development Fee (C&D Fee) |
|
0.50% |
Maximum Sales Charge |
|
1.85% |
Fee/Wrap Accounts |
Maximum Sales Charge |
|
0.50% |
The deferred sales charge will be deducted in three monthly installments commencing 9/20/24. 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 maximum sales charge for investors in fee
accounts consists of the C&D fee. Investors in fee accounts are not assessed any transactional sales charges.
Standard accounts sales charges apply to units purchased as an ineligible asset. 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%. In addition to the sales charges listed, UITs are subject to annual operating expenses and
organization costs.
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 ETFs.
ETFs 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 ETFs 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, ETFs frequently trade
at a discount from their net asset value in the secondary market.
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 security 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.
Certain of the funds invest in high-yield securities or “junk” bonds. Investing in high-yield securities should be viewed as speculative and you should review your ability to assume the risks associated with investments that
utilize such bonds. High-yield securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal.
High-yield security prices tend to fluctuate more than higher rated bonds and are affected by short-term credit developments to a greater degree.
Certain of the funds included in the portfolio are unrated at the time of deposit. Unrated means that the investment is not publicly rated by S&P, Moody’s or another nationally-recognized statistical rating organization.
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.
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.
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.
For a discussion of additional risks of investing in the trust see the “Risk Factors” section of the prospectus.