FCAL

First Trust California Municipal High income ETF

$49.38

+0.00%

Market closed. Last update: 11:42 PM ET

📎 Investment Objective

The First Trust California Municipal High Income ETF (FCAL) seeks to provide current income that is exempt from regular federal income taxes and California state personal income taxes.

Overview

ETF tracking First Trust California Municipal High income ETF

Category Municipal Bonds

Issuer First Trust

Inception Date 2017-06-21

Market Cap $190.1M

Average Volume N/A

Dividend Yield 2.67%

52-Week Range $47.18 - $50.43

VWAP $49.41

Performance

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Investment Summary

📎 Investment Objective

The First Trust California Municipal High Income ETF (FCAL) seeks to provide current income that is exempt from regular federal income taxes and California state personal income taxes.

🎯 Investment Strategy

The fund invests primarily in municipal bonds issued by the state of California and its local governments. The portfolio is actively managed to focus on higher-yielding, investment-grade municipal bonds.

✨ Key Features

Focuses on California municipal bonds to provide state and federal tax-exempt income
Actively managed portfolio to target higher-yielding investment-grade bonds
Low expense ratio of 0.00%
Relatively small fund size with $0 in assets under management

⚠️ Primary Risks

Interest rate risk as bond prices may decline when interest rates rise
Credit risk if the financial condition of bond issuers deteriorates
Concentration risk from focusing solely on California municipal bonds
Liquidity risk for less actively traded municipal bonds

👤 Best For

This ETF may be suitable for California-based investors seeking tax-exempt income and willing to accept the risks associated with a concentrated municipal bond portfolio. It may not be appropriate for investors with shorter investment horizons or a low tolerance for volatility.