FCEF – First Trust Income Opportunity ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide current income with a secondary emphasis on total return. The fund seeks to achieve its investment objectives by investing in a portfolio of closed-end investment companies ("closed-end funds") and exchange-traded funds ("ETFs") that are listed and traded in the United States on registered exchanges. In selecting the closed-end funds and ETFs for the fund’s portfolio, the fund's investment advisor utilizes a range of investment approaches.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
FCEF	First Trust Income Opportunity ETF	ETF	Open			Sep 27, 2016	$81.04M	3.690%	—	—	$21.08M

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