Zacks Investment ResearchT3·46mo ago
FCVT First Trust SSI Strategic Convertible Securities ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
FCVT
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Key stats
About
First Trust SSI Strategic Convertible Securities ETF (FCVT) ETF
No description available.
- Exchange
- XNAS
- Inception
- 2015-11-03
- Has Options
- No
Fund profile
holdings as of Oct 20, 2026issuer datathrough Jul 2026flows, SEC filings
- Expense ratio
- 0.95% prospectus, filed Feb 27, 2026
- Assets
- $80M issuer-reported, Oct 20, 2026
- Trailing yield
- 1.19% paid monthly
- Average daily volume
- $1.1M 30 sessions
- Holdings
- 116 top 10 are 24.2%
- Listed
- Nov 3, 2015 Nasdaq
- Net asset value
- $45.65 issuer, Oct 20, 2026
Cost6
Liquidity35
Scale33
Diversification91
Moves with. US large-cap stocks (31% of its variance, beta 0.64); Value over growth (21% of its variance, beta -0.42); Emerging markets over US (13% of its variance, beta 0.27); Small caps over large (12% of its variance, beta 0.57). These factors explain 78% of its daily moves over the last year.
Stated objective. The First Trust SSI Strategic Convertible Securities ETFs (the Fund ) investment objective is to seek total return. (from the fund's prospectus)
All 116 holdingsFlow historyOverlap toolAll Convertibles ETFs
Fund flows
through Jul 2026SEC filings- Jul 2026
- −$10M latest reported month
- Latest 3 months
- −$15M −15.1% of assets
- Latest 12 months
- −$12M −12.2% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | −$10M |
| Jun 2026 | −$2.7M |
| May 2026 | −$2.4M |
| Apr 2026 | −$2.3M |
| Mar 2026 | $0 |
| Feb 2026 | +$2.2M |
| Jan 2026 | +$7.0M |
| Dec 2025 | −$15M |
| Nov 2025 | −$61K |
| Oct 2025 | +$15M |
| Sep 2025 | −$2.1M |
| Aug 2025 | −$2.2M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| ICVTiShares Convertible Bond ETF | — | 0.20% | $7.7B | +4.2% | compare |
| CWBState Street SPDR Bloomberg Convertible Securities ETF | — | 0.40% | $5.3B | +4.2% | compare |
| CVRTCalamos Convertible Equity Alternative ETF | — | 0.69% | $61M | +16.9% | compare |
| ACVTAdvent Convertible Bond ETF | — | 0.65% | $32M | +4.3% | compare |
| MCVTMiller Convertible Total Return ETF | — | — | — | — | compare |
The largest other funds in the Convertibles category.
Look-through: what the holdings say
weights as of Oct 20, 2026issuer data- Insider buying
- 0% of weight had net insider buying, 90 days; 20% net selling
- Reporting earnings
- 0.0% of weight in 7 days; 4.4% in 14
Holdings reporting in the next 14 days
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Oct 14, 2026 → Oct 15, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Decrease | Bank of America Corporation, Series L, 7.25% | 1.22% | 0.98% | −22.9% |
| Decrease | Wells Fargo & Company, Series L, 7.500% | 1.33% | 1.10% | −20.3% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 0.5%. Full holdings and history
Under the hood
fiscal year to Oct 31, 2025SEC census- Authorized participants
- 4 active of 24 with agreements; top 3 did 95%
- Created · redeemed
- $72M · $46M over the fiscal year
- Redemptions in kind
- 12% creations 46% in kind
- Creation unit
- 50,000 shares
- Securities lending
- authorized, none lent
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-10-20
Holdings
116
AUM
$79.8M
Provider
First Trust
Inception
2015-11-03
Exchange
XNAS
Data As Of
2026-10-20
Expense Ratio
0.95%
Dividend Yield
1.19%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-21 | 2026-10-30 | $0.0450 | CD |
| 2026-09-24 | 2026-09-30 | $0.0450 | CD |
| 2026-08-21 | 2026-08-31 | $0.0450 | CD |
| 2026-07-21 | 2026-07-31 | $0.0450 | CD |
| 2026-06-25 | 2026-06-30 | $0.0450 | CD |
| 2026-05-21 | 2026-05-29 | $0.0450 | CD |
Asset Allocation
Top Holdings
top 50 of 116 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| GOOGM | Alphabet Inc., Series A, Convertible, 6.25%, Due 05/15/2029 | 4.25% | Equity (US) | US |
| — | MORGAN STANLEY FIN LLC Convertible, 0.125%, due 04/26/2030 | 2.65% | Corporate Bond | — |
| — | The Boeing Company, Convertible, 6.00%, Due 10/15/2027 | 2.59% | Equity (US) | — |
| — | LIVE NATION ENTERTAINMENT Convertible, 2.875%, due 01/15/2030 | 2.56% | Corporate Bond | US |
| GOOGN | Alphabet Inc., Series B, Convertible, 6.25%, Due 05/15/2029 | 2.20% | Equity (US) | US |
| — | MORGAN STANLEY FIN LLC Convertible, 0.125%, due 02/07/2028 | 2.19% | Corporate Bond | — |
| — | Hewlett Packard Enterprise Company, Convertible, 7.625%, Due 09/01/2027 | 2.07% | Equity (US) | — |
| — | NEBIUS GROUP NV Convertible, 1.25%, due 03/15/2031 | 2.03% | Corporate Bond | — |
| — | SNOWFLAKE INC Convertible, 0%, due 10/01/2027 | 1.85% | Corporate Bond | US |
| — | WELLTOWER OP LLC Convertible, 2.75%, due 05/15/2028 | 1.79% | Corporate Bond | — |
| — | AKAMAI TECHNOLOGIES INC Convertible, 0.25%, due 05/15/2033 | 1.77% | Corporate Bond | — |
| — | NEBIUS GROUP NV Convertible, 0.50%, due 02/15/2030 | 1.72% | Corporate Bond | — |
| — | NEBIUS GROUP NV Convertible, 4.50%, due 02/15/2034 | 1.67% | Corporate Bond | — |
| — | ON SEMICONDUCTOR CORP Convertible, 0.50%, due 03/01/2029 | 1.53% | Corporate Bond | US |
| — | LUMENTUM HOLDINGS INC Convertible, 0.375%, due 03/15/2032 | 1.45% | Corporate Bond | — |
| — | GUARDANT HEALTH INC Convertible, 0%, due 05/15/2033 | 1.44% | Corporate Bond | — |
| — | LIGAND PHARMACEUTICALS INC Convertible, 0%, due 09/15/2031 | 1.40% | Corporate Bond | — |
| — | HALOZYME THERAPEUTICS INC Convertible, 0.875%, due 11/15/2032 | 1.36% | Corporate Bond | — |
| — | BLOOM ENERGY CORP Convertible, 0%, due 11/15/2030 | 1.28% | Corporate Bond | — |
| — | CLOUDFLARE INC Convertible, 0%, due 06/15/2030 | 1.23% | Corporate Bond | — |
| — | NEXTERA ENERGY CAPITAL Convertible, 3%, due 03/01/2027 | 1.18% | Corporate Bond | — |
| SMCIP | Super Micro Computer, Inc., Convertible, 7.00%, Due 06/01/2029 | 1.15% | Equity (US) | US |
| — | DATADOG INC Convertible, 0%, due 12/01/2029 | 1.12% | Corporate Bond | — |
| — | IREN LTD Convertible, 0%, due 07/01/2031 | 1.12% | Corporate Bond | — |
| — | Wells Fargo & Company, Series L, 7.500% | 1.10% | Equity (US) | — |
| — | CYBERARK SOFTWARE LTD Convertible, 0%, due 06/15/2030 | 1.07% | Corporate Bond | — |
| MCHPP | Microchip Technology Incorporated, 7.50%, Due 03/15/2028 | 1.07% | Equity (US) | US |
| — | MKS INC Convertible, 1.25%, due 06/01/2030 | 1.06% | Corporate Bond | US |
| — | BARCLAYS BANK PLC Convertible, 1%, due 02/16/2029 | 1.03% | Corporate Bond | — |
| — | NEOGENOMICS INC Convertible, 0.75%, due 07/01/2032 | 1.03% | Corporate Bond | — |
| — | ONTO INNOVATION INC Convertible, 0%, due 06/01/2031 | 1.03% | Corporate Bond | — |
| — | MODERNA INC Convertible, 0%, due 03/01/2032 | 1.01% | Corporate Bond | — |
| — | Bank of America Corporation, Series L, 7.25% | 0.99% | Equity (US) | — |
| LITE | Lumentum Holdings Inc. | 0.94% | Equity (US) | US |
| — | AFFIRM HOLDINGS INC Convertible, 0.75%, due 12/15/2029 | 0.93% | Corporate Bond | — |
| — | WISDOMTREE INC Convertible, 4.625%, due 08/15/2030 | 0.93% | Corporate Bond | — |
| — | CYTOKINETICS INC Convertible, 1.75%, due 10/01/2031 | 0.88% | Corporate Bond | — |
| — | WEC ENERGY GROUP INC Convertible, 4.375%, due 06/01/2027 | 0.88% | Corporate Bond | — |
| — | RUBRIK INC Convertible, 0%, due 06/15/2030 | 0.87% | Corporate Bond | — |
| — | SEMTECH CORP Convertible, 0%, due 10/15/2030 | 0.87% | Corporate Bond | — |
| — | Oracle Corporation, Series D, Convertible, 6.50%, Due 01/15/2029 | 0.86% | Equity (US) | — |
| — | DIGITAL REALTY TRUST LP Convertible, 1.875%, due 11/15/2029 | 0.85% | Corporate Bond | — |
| — | ULTRA CLEAN HOLDINGS INC Convertible, 0%, due 03/15/2031 | 0.84% | Corporate Bond | — |
| — | REVOLUTION MEDICINES INC Convertible, 0.50%, due 05/01/2033 | 0.79% | Corporate Bond | — |
| — | ROBINHOOD MARKETS INC Convertible, 0%, due 10/01/2029 | 0.79% | Corporate Bond | — |
| — | CIENA CORP Convertible, 0%, due 09/15/2031 | 0.77% | Corporate Bond | — |
| — | FLUOR CORP Convertible, 1.125%, due 08/15/2029 | 0.75% | Corporate Bond | US |
| — | TEMPUS AI INC Convertible, 0%, due 05/15/2032 | 0.75% | Corporate Bond | — |
| — | SWIFT HOLDINGS CORP Convertible, 1%, due 11/15/2031 | 0.74% | Corporate Bond | US |
| — | RIVIAN AUTO INC Convertible, 3.625%, due 10/15/2030 | 0.73% | Corporate Bond | — |
Geographic Breakdown
Non-Equity Breakdown
First Trust SSI Strategic Convertible Securities ETF ·
NPORT-P period 2026-07-31
(filed 2026-09-24)
Net assets:
$101M
· 125 total positions
· equity 23.43%
· non-equity 77.29%
Non-equity holdings
— 108 positions,
77.29% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Corporate | 75.72% | $76.3M | 107 |
| Short-term investment | 1.56% | $1.6M | 1 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 3.33% | -8.30% | 3.71% | -0.79% | 3.20% | 4.27% | 0.90% |
| Feb | 2.42% | -0.99% | -2.85% | 1.19% | -2.77% | -0.44% | -0.57% |
| Mar | -6.76% | 3.78% | -0.28% | 1.76% | -3.35% | -4.25% | -1.52% |
| Apr | 1.32% | -8.28% | -1.82% | -2.77% | 0.66% | 10.36% | -0.09% |
| May | -1.53% | -4.11% | -0.54% | 2.56% | 4.01% | 6.59% | 1.16% |
| Jun | 2.14% | -6.65% | 4.08% | 0.68% | 5.01% | 0.08% | 0.89% |
| Jul | -1.26% | 4.21% | 2.17% | 0.56% | 3.27% | -6.73% | 0.37% |
| Aug | 1.59% | 0.39% | -3.60% | 2.95% | 3.27% | -1.89% | 0.45% |
| Sep | -2.57% | -5.69% | -3.78% | 3.93% | 5.68% | 0.68% | -0.29% |
| Oct | 1.74% | 1.65% | -4.85% | 0.65% | 2.78% | -8.10%* | -1.02% |
| Nov | -4.43% | 2.34% | 6.20% | 8.01% | -2.59% | -- | 1.91% |
| Dec | -15.39% | -3.97% | 4.32% | -4.39% | 0.06% | -- | -3.87% |
| Total | -19.15% | -23.75% | 2.01% | 14.70% | 20.38% | -0.92% | -1.12% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $47.86
SMA 50: $48.96
SMA 200: $48.74
Current: $45.02
EMA 12: $46.60
EMA 26: $47.68
MACD: -1.0812 | Signal: -0.3106
BEARISH
ADX (14): 33.30
TREND
+DI: 11.47
−DI: 39.69
Momentum Oscillators
RSI (14): 29.69
OVERSOLD
Stoch %K: 11.36
Stoch %D: 10.94
Williams %R: -97.29
Volume & Volatility
BB Upper: $51.29
BB Lower: $44.43
NEUTRAL
OBV: 90,194
Vol SMA 20: 23,922
Vol ROC: -62.72%
ATR: $0.82
True Range: $1.10
HV 20: 20.2%
HV 30: 18.9%
HV 60: 21.3%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
Click Frenzy-Pro™ for an AI analysis of this ticker.
Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.
News
All FCVT news →
Zacks Investment ResearchT3·47mo ago
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FCVT Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 1.2328
Alpha: -11.31%
Correlation: 0.7676
R-Squared: 58.9%
Stock Volatility: 20.5%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
FCVT Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|