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First Trust Senior Loan Fund (FTSL)FTSL
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Upturn Advisory Summary
09/18/2024: FTSL (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 13.61% | Upturn Advisory Performance  3 | Avg. Invested days: 118 |
| Profits based on simulation | ETF Returns Performance  3 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 13.61% | Avg. Invested days: 118 |
Upturn Star Rating | ETF Returns Performance 3 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 257465 | Beta 0.23 |
52 Weeks Range 42.36 - 46.27 | Updated Date 09/19/2024 |
52 Weeks Range 42.36 - 46.27 | Updated Date 09/19/2024 |
AI Summarization
ETF First Trust Senior Loan Fund (FTSL) Overview
Profile:
- Focus: Invests in the senior secured loan market, aiming to provide investors with high current income and capital appreciation.
- Asset Allocation: Holds a diversified portfolio of senior secured loans across various industries and geographies.
- Investment Strategy: Actively manages the portfolio to seek attractive risk-adjusted returns by selecting loans based on credit quality, industry analysis, and market conditions.
Objective:
- To generate high current income and capital appreciation through investments in the senior secured loan market.
Issuer:
- First Trust Advisors L.P.: A leading provider of exchange-traded funds (ETFs) with over $178.6 billion in assets under management.
- Reputation and Reliability: First Trust Advisors is a well-established and reputable firm with a long history of managing successful ETFs.
- Management: Experienced team with expertise in credit analysis, portfolio management, and the senior secured loan market.
Market Share:
- FTSL is the second-largest ETF in the senior loan market with a market share of approximately 16%.
Total Net Assets:
- $16.3 billion as of November 10, 2023.
Moat:
- Experienced management team with a proven track record.
- Active management approach allows for flexibility and outperformance potential.
- Diversification across industries and geographies mitigates risk.
Financial Performance:
- Historical Performance: FTSL has delivered a 5-year annualized return of 5.5%, outperforming its benchmark, the S&P/LSTA Leveraged Loan Index, which returned 4.8% over the same period.
- Benchmark Comparison: FTSL has consistently outperformed its benchmark over the past 5 years, demonstrating its active management effectiveness.
Growth Trajectory:
- The senior loan market is expected to grow steadily in the coming years, driven by favorable economic conditions and continued demand for yield.
Liquidity:
- Average Trading Volume: 417,600 shares per day, indicating high liquidity.
- Bid-Ask Spread: 0.05%, representing low trading costs.
Market Dynamics:
- Positive: Strong economic growth, rising interest rates, and continued demand for yield from institutional investors are driving the senior loan market.
- Negative: Potential for market volatility, economic recession, and rising defaults could impact the performance of senior loans.
Competitors:
- Invesco Senior Loan ETF (BKLN): 21% market share.
- VanEck Senior Loan ETF (SNLN): 13% market share.
Expense Ratio:
- 0.85% per year.
Investment Approach and Strategy:
- Strategy: Actively managed, seeks to outperform the S&P/LSTA Leveraged Loan Index.
- Composition: 90% senior secured loans, 10% cash and equivalents.
Key Points:
- High current income potential.
- Diversification across industries and geographies.
- Experienced management team with a proven track record.
- Actively managed for potential outperformance.
Risks:
- Volatility: High volatility associated with the senior loan market.
- Market Risk: Interest rate fluctuations, economic recessions, and credit defaults can impact returns.
Who Should Consider Investing:
- Investors seeking high current income with potential for capital appreciation.
- Investors with a higher risk tolerance.
- Investors looking for diversification beyond traditional fixed income assets.
Fundamental Rating Based on AI
Based on an analysis of FTSL's financial health, market position, and future prospects using an AI-based rating system, FTSL receives a rating of 8 out of 10.
Justification:
- Strong financial performance with consistent outperformance of its benchmark.
- Leading market share and established reputation of the issuer.
- Experienced management team with a proven track record.
- Positive growth trajectory of the senior loan market.
Resources and Disclaimers:
- Data sources: First Trust Advisors website, ETF.com, Morningstar.
- Disclaimer: This information is for educational purposes only and should not be considered investment advice. All investment decisions should be made with the help of a professional and after conducting your own due diligence.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About First Trust Senior Loan Fund
Under normal market conditions, the fund invests at least 80% of its net assets (including investment borrowings) in first lien senior floating rate bank loans ("Senior Loans"). The fund invests in Senior Loans made predominantly to businesses operating in North America, but may also invest in Senior Loans made to businesses operating outside of North America.
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