First TrustNontraditional BondUCON · NYSE Arca

First Trust Smith Unconstrained Bond ETF (UCON)

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Price: $24.33; —11 Sept 2026
Assets: $3.3B; Total net assets
Expense ratio: 0.86%; Category 1.43%
Yield: 4.75%; Trailing distributions

1Y return: 1.0%-2.4%; Category 3.3%
3Y CAGR: 5.1%-1.2%; Category 6.3%
5Y CAGR: 2.5%-2.1%; Category 4.6%

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First Trust Smith Unconstrained Bond ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-1.0%	-1.2%	+0.1%	-0.4%	+1.0%	+5.1%	+2.5%	—	+3.5%
Nontraditional Bond average	-0.3%	-0.0%	2.2%	1.9%	3.3%	6.3%	4.6%	4.7%	3.1%
Difference	-0.7%	-1.2%	-2.1%	-2.3%	-2.4%	-1.2%	-2.1%	—	+0.4%

Holdings

Allocation as last published by the fund.

Sector allocation

Share of the equity the fund holds.

Utilities100.0%

Asset mix

Bonds95.6%
Preferred shares3.6%
Cash0.9%

Credit quality

Share of the bonds by rating.

US government22.4%
AAA30.4%
AA1.5%
A8.6%
BBB25.9%
BB24.9%
B8.3%
Below B0.4%

ETF details

Issuer: First Trust
Category: Fixed Income · Nontraditional Bond
Ticker: UCON
Exchange: NYSE Arca
Inception: 4 Jun 2018 (8.3 years)
Structure: Exchange Traded Fund
Expense ratio: 0.86% (category 1.43%)
Holdings turnover: 305% (category 251%)
Distribution yield: 4.75%
Beta, 3 years: 0.60
Total net assets: $3.3B
Average duration: 5.23 years
Average maturity: 9.73 years

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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