BenzingaT3·37mo ago
MMSC First Trust Multi-Manager Small Cap Opportunities 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.
MMSC
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Key stats
About
First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2021-10-13
- Has Options
- No
Fund profile
holdings as of Nov 6, 2026issuer datathrough Aug 2026flows, SEC filings
- Expense ratio
- 0.95% prospectus, filed Dec 29, 2025
- Assets
- $50M issuer-reported, Nov 6, 2026
- Trailing yield
- — paid quarterly
- Average daily volume
- $185K 30 sessions
- Holdings
- 201 top 10 are 14.4%
- Listed
- Oct 13, 2021 NYSE Arca
- Net asset value
- $25.53 issuer, Nov 6, 2026
Cost5
Liquidity9
Scale26
Diversification100
Moves with. US large-cap stocks (43% of its variance, beta 0.95); Small caps over large (29% of its variance, beta 1.18); Value over growth (15% of its variance, beta -0.39). These factors explain 92% of its daily moves over the last year.
Stated objective. "The First Trust Multi-Manager Small Cap Opportunities ETF (the ""Fund"" ) seeks to provide long-term capital appreciation." (from the fund's prospectus)
All 201 holdingsFlow historySimilar fundsOverlap toolAll Small Cap Blend ETFs
Fund flows
through Aug 2026SEC filings- Aug 2026
- $0 latest reported month
- Latest 3 months
- −$7K −0.0% of assets
- Latest 12 months
- +$16M +30.9% of assets
View as a table
| Month | Net flow |
|---|---|
| Aug 2026 | $0 |
| Jul 2026 | $0 |
| Jun 2026 | −$7K |
| May 2026 | +$1.4M |
| Apr 2026 | $0 |
| Mar 2026 | +$54K |
| Feb 2026 | +$3.8M |
| Jan 2026 | +$2.6M |
| Dec 2025 | +$2.4M |
| Nov 2025 | +$4.5M |
| Oct 2025 | +$1.2M |
| Sep 2025 | $0 |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 60 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| ACSGAmerican Century Small Cap Growth Insights ETF | 28% | 0.49% | $51M | +10.6% | compare |
| FNYFirst Trust Mid Cap Growth AlphaDEX Fund | 27% | 0.73% | $535M | +3.7% | compare |
| IWOiShares Russell 2000 Growth ETF | 27% | 0.24% | $13.7B | +5.2% | compare |
| VTWGVanguard Russell 2000 Growth ETF | 26% | 0.06% | $1.4B | +5.1% | compare |
| FSEGFidelity Enhanced Small Cap Growth ETF | 25% | 0.28% | $7.4M | — | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Nov 6, 2026issuer data- Holdings vs fair value
- +5.5% 36% under, 31% over · 99% covered
- Price / earnings
- 86.3 39% loss-making · 95% covered
- Price / book · sales
- 4.2 · 2.5 revenue growth +14.3%
- Above 200-day average
- 63% 44% above 50-day · by weight
- Short interest
- 10.0% of float, weighted · 5.5 days to cover
- Insider buying
- 9% of weight had net insider buying, 90 days; 62% net selling
- 13F holders
- +6.0% change in shares held by institutions, latest quarter
- Reporting earnings
- 10.7% of weight in 7 days; 14.2% in 14
Holdings reporting in the next 14 days · weighted implied move this week 1.59%
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
Nov 2, 2026 → Nov 3, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Increase | SUPNSupernus, Inc. | 0.73% | 0.56% | +54.0% |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 2.1%. Full holdings and history
Under the hood
fiscal year to Aug 31, 2025SEC census- Authorized participants
- 2 active of 22 with agreements; top 3 did 100%
- Created · redeemed
- $8.2M · $5.1M over the fiscal year
- Redemptions in kind
- 99% creations 99% in kind
- Creation unit
- 50,000 shares
- Securities lending
- authorized, none lent
- Diversification status
- Non-diversified may concentrate in fewer issuers
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 2026-11-06
Holdings
201
AUM
$49.9M
Provider
First Trust
Inception
2021-10-13
Exchange
ARCX
Data As Of
2026-11-06
Expense Ratio
0.95%
Dividend Yield
—
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2024-12-13 | 2024-12-31 | $0.0854 | CD |
Asset Allocation
Top Holdings
top 50 of 201 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | US Dollar | 2.29% | Cash/Money Market | — |
| XMTR | Xometry, Inc. (Class A) | 2.13% | Equity (US) | US |
| FROG | JFrog Ltd. | 1.74% | Equity (Foreign) | IL |
| ZETA | Zeta Global Holdings Corp. (Class A) | 1.52% | Equity (US) | US |
| VRNS | Varonis Systems, Inc. | 1.37% | Equity (US) | US |
| OLLI | Ollie's Bargain Outlet Holdings, Inc. | 1.30% | Equity (US) | US |
| FCFS | FirstCash Holdings, Inc. | 1.29% | Equity (US) | US |
| TVTX | Travere Therapeutics, Inc. | 1.29% | Equity (US) | US |
| GH | Guardant Health, Inc. | 1.26% | Equity (US) | US |
| SYRE | Spyre Therapeutics, Inc. | 1.26% | Equity (US) | US |
| RGEN | Repligen Corporation | 1.22% | Equity (US) | US |
| NTSK | Netskope, Inc. (Class A) | 1.20% | Equity (US) | US |
| PTGX | Protagonist Therapeutics, Inc. | 1.16% | Equity (US) | US |
| SAIL | SailPoint, Inc. | 1.16% | Equity (US) | US |
| LGND | Ligand Pharmaceuticals Inc. (Class B) | 1.14% | Equity (US) | US |
| TWST | Twist Bioscience Corporation | 1.07% | Equity (US) | US |
| EXEL | Exelixis, Inc. | 1.02% | Equity (US) | US |
| RBRK | Rubrik, Inc. (Class A) | 1.01% | Equity (US) | US |
| MANH | Manhattan Associates, Inc. | 0.99% | Equity (US) | US |
| EWTX | Edgewise Therapeutics, Inc. | 0.92% | Equity (US) | US |
| HALO | Halozyme Therapeutics, Inc. | 0.91% | Equity (US) | US |
| WING | Wingstop Inc. | 0.90% | Equity (US) | US |
| EZPW | EZCORP, Inc. | 0.87% | Equity (US) | US |
| GKOS | Glaukos Corporation | 0.87% | Equity (US) | US |
| ICLR | ICON Plc | 0.86% | Equity (Foreign) | IE |
| PRAX | Praxis Precision Medicines, Inc. | 0.85% | Equity (US) | US |
| SEPN | Septerna, Inc. | 0.80% | Equity (US) | US |
| LTH | Life Time Group Holdings, Inc. | 0.79% | Equity (US) | US |
| FWRG | First Watch Restaurant Group, Inc. | 0.78% | Equity (US) | US |
| ECPG | Encore Capital Group, Inc. | 0.76% | Equity (US) | US |
| KYMR | Kymera Therapeutics, Inc. | 0.76% | Equity (US) | US |
| VSEC | VSE Corporation | 0.76% | Equity (US) | US |
| KRMN | Karman Holdings Inc. | 0.75% | Equity (US) | US |
| VIRT | Virtu Financial, Inc. (Class A) | 0.73% | Equity (US) | US |
| AAMI | Acadian Asset Management Inc. | 0.72% | Equity (US) | US |
| MEDP | Medpace Holdings, Inc. | 0.71% | Equity (US) | US |
| RBC | RBC Bearings Incorporated | 0.71% | Equity (US) | US |
| VSXY | Victoria's Secret & Co. | 0.71% | Equity (US) | US |
| DFTX | Definium Therapeutics Inc. | 0.70% | Equity (US) | — |
| FIVE | Five Below, Inc. | 0.70% | Equity (US) | US |
| HQY | HealthEquity, Inc. | 0.70% | Equity (US) | US |
| BOOT | Boot Barn Holdings, Inc. | 0.69% | Equity (US) | US |
| DSGX | The Descartes Systems Group Inc. | 0.67% | Equity (Foreign) | CA |
| AXGN | Axogen, Inc. | 0.65% | Equity (US) | US |
| PI | Impinj, Inc. | 0.65% | Equity (US) | US |
| PIPR | Piper Sandler Companies | 0.64% | Equity (US) | US |
| BRZE | Braze, Inc. (Class A) | 0.63% | Equity (US) | US |
| CHEF | The Chefs' Warehouse, Inc. | 0.62% | Equity (US) | US |
| ANDG | Andersen Group Inc. (Class A) | 0.61% | Equity (US) | US |
| DRS | Leonardo DRS, Inc. | 0.61% | Equity (US) | US |
Geographic Breakdown
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -- | -16.82% | 8.50% | 2.67% | 3.40% | 3.32% | 0.21% |
| Feb | -- | -0.60% | -2.64% | 8.76% | -7.81% | -0.47% | -0.55% |
| Mar | -- | 2.57% | -1.89% | 1.23% | -4.43% | -7.39% | -1.98% |
| Apr | -- | -11.97% | -1.13% | -5.53% | 0.89% | 12.06% | -1.14% |
| May | -- | -3.49% | -0.55% | 4.96% | 5.09% | 5.05% | 2.21% |
| Jun | -- | -7.89% | 7.17% | 0.53% | 5.45% | 5.15% | 2.08% |
| Jul | -- | 9.00% | 3.24% | 3.17% | 3.28% | -7.32% | 2.27% |
| Aug | -- | -0.45% | -1.29% | 4.40% | 6.59% | 0.36% | 1.92% |
| Sep | -- | -5.85% | -6.99% | 5.86% | 5.78% | -2.04% | -0.65% |
| Oct | 4.08% | 6.25% | -5.65% | -0.20% | 4.17% | -1.53% | 1.19% |
| Nov | -4.90% | 0.61% | 8.73% | 10.53% | -0.23% | 1.84%* | 2.76% |
| Dec | 2.31% | -6.72% | 6.31% | -8.07% | 0.73% | -- | -1.09% |
| Total | 1.27% | -32.39% | 12.89% | 30.28% | 24.17% | 7.71% | 7.32% |
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: $26.13
SMA 50: $26.68
SMA 200: $26.75
Current: $26.59
EMA 12: $26.17
EMA 26: $26.35
MACD: -0.1781 | Signal: 0.0087
BEARISH
ADX (14): 16.16
RANGE
+DI: 32.40
−DI: 35.60
Momentum Oscillators
RSI (14): 51.89
NEUTRAL
Stoch %K: 30.98
Stoch %D: 34.34
Williams %R: -28.47
Volume & Volatility
BB Upper: $27.18
BB Lower: $25.09
NEUTRAL
OBV: 739,142
Vol SMA 20: 8,169
Vol ROC: 24.48%
ATR: $0.55
True Range: $1.10
HV 20: 36.1%
HV 30: 30.6%
HV 60: 24.3%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-11T00:00:00 – 2026-11-09T00:00:00
AI Analysis
Here is my comprehensive stock analysis report for MMSC:
Executive Summary
Overall assessment: NEUTRAL (confidence level 6/10)
Key drivers: Trend direction, momentum signals, and volume analysis
Primary risks: High volatility, potential technical breakdown, and earnings surprise risk
Investment thesis: MMSC's recent price action has been range-bound, with a bullish MACD signal indicating potential upside. However, the stock's high beta and historical volatility suggest that significant price movements are possible.
Recent news sentiment impact: The neutral news headlines do not have a significant impact on the analysis, as they do not contradict technical signals or provide new information.
Technical Analysis
Trend Direction: Medium-term uptrend (1-3 months)
Support/Resistance Levels:
- Short-term support: $27.65 (Bollinger Bands lower band)
- Short-term resistance: $29.47 (Bollinger Bands upper band)
- Medium-term support: $28.42 (SMA 50)
- Medium-term resistance: $30.00 (psychological level)
Momentum Signals:
- RSI interpretation: Neutral (53.62), indicating no clear buy or sell signal
- MACD signal: Bullish, suggesting potential upside
- Bollinger Bands position: Neutral, as the stock is trading within the bands
Volume Analysis:
- Volume trends: Recent volume has been decreasing, which may indicate a loss of momentum
- Institutional interest signals: No significant institutional activity observed
News & Sentiment Analysis
Recent Headlines Summary: Two neutral news headlines with no significant impact on the analysis
Sentiment Assessment: Neutral sentiment (1/3 positive, 2/3 neutral)
Catalyst Identification: No upcoming events or earnings releases that could significantly impact the stock
Market Narrative: The recent price action has been range-bound, with a lack of clear direction or momentum
Risk & Volatility Assessment
Beta Interpretation: High risk (beta = 1.55), indicating potential for significant price movements
Volatility Regime: Current volatility is high relative to historical levels
Options Market Signals:
- IV rank: N/A (no options data available)
- Put/call ratios: N/A
- Unusual activity: No unusual options activity observed
Downside Protection: Support levels and risk management considerations are discussed below
Market Context & Positioning
Sector Performance: MMSC's sector is performing relatively well, but the stock has not kept pace with the sector's gains
Institutional Activity: No significant institutional interest or trading patterns observed
Correlation Analysis: The stock moves moderately in line with the market (R-squared = 0.83)
Relative Valuation: MMSC is trading near its historical average, but within a relatively wide trading range
Key Levels & Action Items
Critical Price Levels:
- Short-term support: $27.65
- Short-term resistance: $29.47
- Medium-term support: $28.42
- Medium-term resistance: $30.00
Breakout/Breakdown Levels: None observed
Time-Sensitive Catalysts: No immediate catalysts or events that could significantly impact the stock
Risk Management: Consider stop-loss levels and position sizing considerations based on risk tolerance and market conditions.
Overall, MMSC's technical analysis suggests a range-bound market with potential upside. However, the high volatility and beta suggest significant price movements are possible. The neutral news headlines do not have a strong impact on the analysis, but earnings surprise risk and potential technical breakdowns are concerns.
Generated
News
All MMSC news →
Zacks Investment ResearchT3·41mo ago
MMSC Options Activity & IV Rank
Loading options activity...
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
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.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
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 →
Scanning bull put, bear call, iron condor and calendar spreads…
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
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 1.5095
Alpha: -4.28%
Correlation: 0.8307
R-Squared: 69.0%
Stock Volatility: 25.0%
Market Volatility: 13.8%
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
MMSC Institutional Ownership (13F)
Filings for 2026-06-30 · 7 already for 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 |
|---|