First Trust California Municipal High Income ETF (FCAL)
Portfolio of Investments
April 30, 2021 (Unaudited)
Principal Value | Description | Stated Coupon | Stated Maturity | Value | ||||
MUNICIPAL BONDS – 98.6% | ||||||||
California – 89.9% | ||||||||
$350,000 | Alameda CA Corridor Transprtn Auth Ref 2nd Sub Lien, Ser B, AGM | 4.00% | 10/01/37 | $390,736 | ||||
150,000 | Alameda CA Corridor Transprtn Auth Ref Subordinate Lien, Ser A | 5.00% | 10/01/25 | 178,615 | ||||
215,000 | Antelope Vly E Kern CA Wtr Agy Wtr Rev Ref | 5.00% | 06/01/35 | 258,953 | ||||
525,000 | Azusa CA Spl Tax Cmnty Facs Dist No 2005-1 Impt | 4.00% | 09/01/34 | 598,554 | ||||
100,000 | Beaumont CA Spl Tax Cmnty Facs Dist No 93-1 Impt Area 8F | 4.00% | 09/01/33 | 113,135 | ||||
175,000 | Beaumont CA Spl Tax Cmnty Facs Dist No 93-1 Impt Area 8F | 4.00% | 09/01/34 | 197,422 | ||||
330,000 | Beaumont CA Spl Tax Cmnty Facs Dist No 93-1 Impt Area 8F | 4.00% | 09/01/36 | 371,141 | ||||
620,000 | Beaumont CA Spl Tax Cmnty Facs Dist No 93-1 Impt Area 8F | 4.00% | 09/01/40 | 693,041 | ||||
200,000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settlement Ref, Sonoma Cnty Securitization Corp, Ser A | 4.00% | 06/01/35 | 242,414 | ||||
665,000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settlement Sr Ref, Ser A | 5.00% | 06/01/32 | 872,085 | ||||
200,000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settlement Sr Ref, Ser A | 5.00% | 06/01/33 | 260,888 | ||||
200,000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settlement Sr Ref, Ser A | 4.00% | 06/01/35 | 242,184 | ||||
200,000 | CA Cnty CA Tobacco Securitization Agy Tobacco Settlement Sr Ref, Ser A | 4.00% | 06/01/39 | 238,702 | ||||
439,232 | CA Hsg Fin Agy Muni Ctfs, Ser A | 4.25% | 01/15/35 | 530,692 | ||||
360,000 | CA Pub Fin Auth Rev Ref Henry Mayo Newhall Hosp, Ser A | 4.00% | 10/15/27 | 419,547 | ||||
360,000 | CA Pub Fin Auth Rev Ref Henry Mayo Newhall Hosp, Ser A | 4.00% | 10/15/28 | 423,411 | ||||
200,000 | CA Sch Fin Auth Sch Fac Rev Alliance Clg Ready Pub Schs Proj, Ser C | 4.50% | 07/01/26 | 226,997 | ||||
255,000 | CA Sch Fin Auth Sch Fac Rev Alliance Clg Ready Pub Schs Projs, Ser A (a) | 5.00% | 07/01/30 | 292,069 | ||||
505,000 | CA Sch Fin Auth Sch Fac Rev Granada Hills Chrt Oblig Grp (a) | 5.00% | 07/01/34 | 579,840 | ||||
105,000 | CA Sch Fin Auth Sch Fac Rev Kipp Socal Pub Schs, Ser A (a) | 5.00% | 07/01/26 | 125,985 | ||||
105,000 | CA Sch Fin Auth Sch Fac Rev Kipp Socal Pub Schs, Ser A (a) | 5.00% | 07/01/27 | 129,185 | ||||
400,000 | CA Sch Fin Auth Sch Fac Rev Kipp Socal Pub Schs, Ser A (a) | 5.00% | 07/01/39 | 494,801 | ||||
200,000 | CA Sch Fin Auth Sch Fac Rev Ref Hlth Learning Proj, Ser A (a) | 4.00% | 07/01/25 | 219,995 | ||||
200,000 | CA Sch Fin Auth Sch Fac Rev Ref Hlth Learning Proj, Ser A (a) | 5.00% | 07/01/32 | 231,209 | ||||
650,000 | CA Sch Fin Auth Sch Fac Rev, Ser A (a) | 5.00% | 07/01/40 | 734,100 | ||||
1,000,000 | CA St Ent Dev Auth Lease Rev Riverside Cnty Library Fac Proj | 4.00% | 11/01/37 | 1,142,861 | ||||
100,000 | CA St Ent Dev Auth Student Hsg Rev M@College Proj, Ser A | 5.00% | 08/01/35 | 125,676 | ||||
100,000 | CA St Ent Dev Auth Student Hsg Rev M@College Proj, Ser A | 5.00% | 08/01/40 | 123,958 | ||||
30,000 | CA St Hlth Facs Fing Auth Rev El Camino Hosp | 5.00% | 02/01/33 | 36,007 | ||||
220,000 | CA St Hlth Facs Fing Auth Rev Ref Sutter Hlth, Ser B | 5.00% | 11/15/33 | 269,232 | ||||
1,000,000 | CA St Hlth Facs Fing Auth Rev Ref, Commonspirit Hlth, Ser A | 4.00% | 04/01/36 | 1,184,451 | ||||
250,000 | CA St Hlth Facs Fing Auth Rev Sutter Hlth, Ser A | 5.00% | 11/15/30 | 314,232 | ||||
500,000 | CA St Infrastructure & Econ Dev Bank Natl Chartr Social Bond, Equit School Revolv Fund, Ser B | 4.00% | 11/01/39 | 592,028 | ||||
250,000 | CA St Muni Fin Auth Chrt Sch Lease Rev Sycamore Academy Proj (b) | 5.38% | 07/01/34 | 270,580 | ||||
250,000 | CA St Muni Fin Auth Chrt Sch Lease Rev Vista Chrt Middle Sch Proj (c) | 5.38% | 07/01/34 | 269,320 | ||||
900,000 | CA St Muni Fin Auth Chrt Sch Rev John Adams Academies Lincoln Proj, Ser A (a) | 5.00% | 10/01/39 | 972,577 | ||||
200,000 | CA St Muni Fin Auth Chrt Sch Rev Palmdale Aerospace Academy Proj (a) | 4.00% | 07/01/26 | 210,630 | ||||
450,000 | CA St Muni Fin Auth Chrt Sch Rev Palmdale Aerospace Academy Proj, Ser A (a) | 5.00% | 07/01/38 | 516,628 | ||||
250,000 | CA St Muni Fin Auth Chrt Sch Rev, Ser A (a) | 5.50% | 06/01/38 | 278,715 | ||||
60,000 | CA St Muni Fin Auth Eductnl Rev Ref American Heritage Edu, Ser A | 4.00% | 06/01/26 | 64,245 |
First Trust California Municipal High Income ETF (FCAL)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Principal Value | Description | Stated Coupon | Stated Maturity | Value | ||||
MUNICIPAL BONDS (Continued) | ||||||||
California (Continued) | ||||||||
$605,000 | CA St Muni Fin Auth Mobile Home Park Rev Sr Caritas Affordable Hsg Inc Projs, Ser A | 5.25% | 08/15/49 | $662,276 | ||||
155,000 | CA St Muni Fin Auth Rev Ref Biola Univ | 5.00% | 10/01/37 | 185,349 | ||||
225,000 | CA St Muni Fin Auth Rev Ref CA Lutheran Univ | 5.00% | 10/01/30 | 280,972 | ||||
225,000 | CA St Muni Fin Auth Rev Ref CA Lutheran Univ | 5.00% | 10/01/32 | 278,673 | ||||
675,000 | CA St Muni Fin Auth Rev Ref CA Lutheran Univ | 5.00% | 10/01/33 | 833,467 | ||||
475,000 | CA St Muni Fin Auth Rev Ref Cmnty Med Centers, Ser A | 5.00% | 02/01/36 | 569,091 | ||||
200,000 | CA St Muni Fin Auth Rev Ref Eisenhower Med Ctr, Ser A | 5.00% | 07/01/32 | 239,295 | ||||
400,000 | CA St Muni Fin Auth Rev Ref Eisenhower Med Ctr, Ser A | 5.00% | 07/01/34 | 476,232 | ||||
250,000 | CA St Muni Fin Auth Rev Ref Emerson Clg, Ser B | 5.00% | 01/01/33 | 304,041 | ||||
700,000 | CA St Muni Fin Auth Rev Ref HumanGood Oblig Grp, Ser A | 4.00% | 10/01/34 | 786,664 | ||||
500,000 | CA St Muni Fin Auth Rev Ref HumanGood Oblig Grp, Ser A | 4.00% | 10/01/36 | 558,745 | ||||
110,000 | CA St Muni Fin Auth Rev Ref Retmnt Hsg Fdtn Oblig Grp, Ser A | 5.00% | 11/15/26 | 128,701 | ||||
435,000 | CA St Muni Fin Auth Rev Ref Retmnt Hsg Fdtn Oblig Grp, Ser A | 5.00% | 11/15/27 | 518,147 | ||||
700,000 | CA St Muni Fin Auth Spl Fac Rev United Airls Inc Proj, AMT | 4.00% | 07/15/29 | 807,167 | ||||
500,000 | CA St Muni Fin Auth Sr Living Rev Ref Mt San Antonio Gardens Proj | 5.00% | 11/15/49 | 573,882 | ||||
500,000 | CA St Muni Fin Auth Student Hsg Rev Chf Davis I, LLC West Vlg Student Hsg Proj | 5.00% | 05/15/27 | 608,263 | ||||
350,000 | CA St Muni Fin Auth Student Hsg Rev Chf Davis I, LLC West Vlg Student Hsg Proj | 5.00% | 05/15/40 | 418,739 | ||||
75,000 | CA St Muni Fin Auth Student Hsg Rev Chf Davis I, LLC West Vlg Student Hsg Proj TCRS, BAM | 5.00% | 05/15/29 | 94,752 | ||||
1,000,000 | CA St Muni Fin Auth Student Hsg Rev Chf-Davis I, LLC West Vlg Student Hsg Proj | 5.00% | 05/15/38 | 1,202,557 | ||||
600,000 | CA St Poll Control Fin Auth Sol Wst Disp Rev Ref Wst Mgmt Inc, Ser A1, AMT | 3.38% | 07/01/25 | 671,163 | ||||
250,000 | CA St Poll Control Fin Auth Sol Wst Disp Rev Rialto Bioenergy Fac LLC Proj Green Bond, AMT (a) | 6.75% | 12/01/28 | 259,418 | ||||
250,000 | CA St Poll Control Fin Auth Sol Wst Disp Rev Rialto Bioenergy Fac LLC Proj Green Bond, AMT (a) | 7.50% | 12/01/40 | 259,460 | ||||
150,000 | CA St Poll Control Fin Auth Sol Wst Disp Rev Waste Mgmt Inc Proj, Ser C (Mandatory put 06/03/24) | 3.25% | 12/01/27 | 163,123 | ||||
1,000,000 | CA St Poll Control Fin Auth Wtr Furnishing Rev, AMT (a) | 5.00% | 07/01/37 | 1,059,803 | ||||
650,000 | CA St Pub Wks Brd Lease Rev Dept Crrctns Rehab RJ, Ser E | 5.00% | 10/01/25 | 779,965 | ||||
15,000 | CA St Pub Wks Brd Lease Rev Judicial Council CA, Ser B | 5.00% | 06/01/34 | 17,613 | ||||
175,000 | CA St Pub Wks Brd Lease Rev Ref, Ser B | 5.00% | 10/01/26 | 216,496 | ||||
165,000 | CA St Pub Wks Brd Lease Rev Ref, Ser B | 5.00% | 05/01/29 | 216,451 | ||||
125,000 | CA St Pub Wks Brd Lease Rev Ref, Ser F | 5.00% | 05/01/24 | 142,692 | ||||
100,000 | CA St Pub Wks Brd Lease Rev Various Corr Facs, Ser A | 5.00% | 09/01/27 | 114,965 | ||||
75,000 | CA St Ref | 4.00% | 09/01/32 | 87,481 | ||||
75,000 | CA St Ref | 4.00% | 08/01/34 | 86,975 | ||||
155,000 | CA St Ref | 4.00% | 09/01/35 | 179,839 | ||||
75,000 | CA St Ref Various Purpose | 4.00% | 09/01/33 | 87,274 | ||||
275,000 | CA St Ref Various Purpose | 4.00% | 09/01/35 | 319,069 | ||||
565,000 | CA St Sch Fin Auth Chrt Sch Rev Arts in Action Chrt Schs, Ser A (a) | 5.00% | 06/01/30 | 644,485 | ||||
335,000 | CA St Sch Fin Auth Chrt Sch Rev Arts in Action Chrt Schs, Ser A (a) | 5.00% | 06/01/40 | 371,556 | ||||
600,000 | CA St Sch Fin Auth Chrt Sch Rev Fenton Chrt Schs, Ser A (a) | 4.00% | 07/01/30 | 662,234 | ||||
600,000 | CA St Sch Fin Auth Chrt Sch Rev Fenton Chrt Schs, Ser A (a) | 5.00% | 07/01/40 | 676,340 | ||||
300,000 | CA St Sch Fin Auth Chrt Sch Rev Rocketship Pub Schs, Ser G (b) | 5.00% | 06/01/37 | 340,214 | ||||
100,000 | CA St Sch Fin Auth Chrt Sch Rev Summit Pub Schs (a) | 5.00% | 06/01/25 | 116,104 | ||||
210,000 | CA St Sch Fin Auth Chrt Sch Rev Summit Pub Schs (a) | 5.00% | 06/01/31 | 248,500 | ||||
500,000 | CA St Stwd Cmntys Dev Auth Spl Tax Rev Imprvmnt Area No 1 | 4.00% | 09/01/41 | 573,040 |
First Trust California Municipal High Income ETF (FCAL)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Principal Value | Description | Stated Coupon | Stated Maturity | Value | ||||
MUNICIPAL BONDS (Continued) | ||||||||
California (Continued) | ||||||||
$200,000 | CA St Stwd Cmntys Dev Auth Student Hsg Rev Ref Chf Irvine LLC | 5.00% | 05/15/30 | $235,494 | ||||
280,000 | CA St Stwd Cmntys Dev Auth Student Hsg Rev Ref Chf Irvine LLC | 5.00% | 05/15/35 | 325,542 | ||||
100,000 | CA St Various Purpose | 5.00% | 10/01/35 | 120,104 | ||||
600,000 | CA Stwd Cmntys Dev Auth Rev Loma Linda Univ Med Ctr, Ser A (a) | 5.00% | 12/01/30 | 694,041 | ||||
300,000 | CA Stwd Cmntys Dev Auth Rev Loma Linda Univ Med Ctr, Ser A (a) | 5.00% | 12/01/33 | 357,108 | ||||
150,000 | CA Stwd Cmntys Dev Auth Rev Ref CA Baptist Univ, Ser A (a) | 3.00% | 11/01/22 | 152,540 | ||||
250,000 | CA Stwd Cmntys Dev Auth Rev Ref CA Baptist Univ, Ser A (a) | 5.00% | 11/01/32 | 292,955 | ||||
245,000 | CA Stwd Cmntys Dev Auth Rev Ref Front Porch Cmntys & Svcs, Ser A | 5.00% | 04/01/27 | 293,044 | ||||
50,000 | CA Stwd Cmntys Dev Auth Rev Ref Front Porch Cmntys & Svcs, Ser A | 5.00% | 04/01/30 | 59,303 | ||||
175,000 | CA Stwd Cmntys Dev Auth Rev Ref Front Porch Cmntys & Svcs, Ser A | 5.00% | 04/01/31 | 206,783 | ||||
50,000 | CA Stwd Cmntys Dev Auth Rev Ref Front Porch Cmntys & Svcs, Ser A | 4.00% | 04/01/32 | 54,987 | ||||
50,000 | CA Stwd Cmntys Dev Auth Rev Ref Insd Enloe Med Ctr, CA MTG INS | 5.00% | 08/15/33 | 59,576 | ||||
125,000 | Camarillo CA Cmnty Dev Commn Successor Agy Tax Allocation Ref Camarillo Corridor Proj, AGM | 5.00% | 09/01/25 | 143,041 | ||||
240,000 | Camarillo CA Cmnty Dev Commn Successor Agy Tax Allocation Ref Sub Lien, Ser B, BAM | 5.00% | 09/01/28 | 289,293 | ||||
305,000 | Camarillo CA Cmnty Dev Commn Successor Agy Tax Allocation Ref Sub Lien, Ser B, BAM | 5.00% | 09/01/30 | 363,722 | ||||
400,000 | Casitas Muni Wtr Dist CA Spl Tax Cmnty Facs Dist No 2013-1, BAM | 4.00% | 09/01/34 | 471,171 | ||||
450,000 | Chino CA Cmnty Facs Dist Spl Tax #2003-3 Impt Area #7 | 5.00% | 09/01/31 | 551,775 | ||||
425,000 | Chino Vly CA Unif Sch Dist, Ser B | 5.00% | 08/01/36 | 559,840 | ||||
250,000 | Compton CA Unif Sch Dist Los Angeles Co Schs Fing Progr, Ser A, COPS, BAM | 5.00% | 06/01/31 | 305,491 | ||||
250,000 | Compton CA Unif Sch Dist Los Angeles Co Schs Fing Progr, Ser A, COPS, BAM | 4.00% | 06/01/35 | 287,732 | ||||
200,000 | Compton CA Unif Sch Dist Los Angeles Co Schs Fing Progr, Ser A, COPS, BAM | 4.00% | 06/01/36 | 229,787 | ||||
210,000 | Cotati-Rohnert Park CA Unif Sch Dist 2016 Election, Ser C, AGM | 5.00% | 08/01/32 | 255,500 | ||||
175,000 | Dana Point CA Cmnty Facs Distspl Tax Ref, Ser A, BAM | 4.00% | 09/01/33 | 214,990 | ||||
180,000 | Dana Point CA Cmnty Facs Distspl Tax Ref, Ser A, BAM | 4.00% | 09/01/34 | 220,270 | ||||
200,000 | Del Mar CA Union Sch Dist Spl Tax Ref | 4.00% | 09/01/33 | 232,867 | ||||
300,000 | Del Mar CA Union Sch Dist Spl Tax Ref | 4.00% | 09/01/34 | 347,572 | ||||
270,000 | Diablo CA Wtr Dist Wtr Rev Ref, COPS, BAM | 4.00% | 01/01/32 | 314,503 | ||||
150,000 | Dinuba CA Jt Unif Sch Dist, COPS, AGM | 4.00% | 02/01/35 | 168,709 | ||||
755,000 | El Dorado CA Irr Dist Rev Ref, Ser C | 4.00% | 03/01/34 | 860,179 | ||||
300,000 | Estrn CA Muni Wtr Dist Wtr & Wstwtr Rev Sub Ref, Ser A | 5.00% | 07/01/31 | 364,843 | ||||
350,000 | Folsom Ranch CA Fing Auth Spl Tax Rev Cmnty Facs Dist No. 19 Mangini | 5.00% | 09/01/32 | 418,713 | ||||
155,000 | Fontana CA Spl Tax Cmnty Facs Dist #80 Bella Strada | 5.00% | 09/01/29 | 189,187 | ||||
240,000 | Fontana CA Spl Tax Spl Tax, The Meadows | 4.00% | 09/01/32 | 275,640 | ||||
165,000 | Fontana CA Unif Sch Dist Prerefunded, AGM | (d) | 02/01/33 | 132,112 | ||||
310,000 | Fountain Vly CA Pub Fing Auth Lease Rev Ref, Ser A | 4.00% | 11/01/29 | 355,997 | ||||
140,000 | Fresno CA Jt Pwrs Fing Auth Lease Rev Ref Master Lease Proj, Ser A, AGM | 5.00% | 04/01/32 | 169,803 | ||||
500,000 | Gilroy CA Unif Sch Dist | 4.00% | 08/01/42 | 580,779 |
First Trust California Municipal High Income ETF (FCAL)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Principal Value | Description | Stated Coupon | Stated Maturity | Value | ||||
MUNICIPAL BONDS (Continued) | ||||||||
California (Continued) | ||||||||
$230,000 | Golden St Tobacco Securitization Corp CA Tobacco Settlement Asset Bkd, Ref, Ser A | 3.25% | 06/01/32 | $249,566 | ||||
100,000 | Golden St Tobacco Securitization Corp CA Tobacco Settlement Enhncd Asset Bkd, Ser A | 5.00% | 06/01/29 | 109,189 | ||||
340,000 | Golden St Tobacco Securitization Corp CA Tobacco Settlement Ref, Ser A-1 | 5.00% | 06/01/26 | 410,502 | ||||
750,000 | Golden St Tobacco Securitization Corp CA Tobacco Settlement Ref, Ser A-1 | 5.00% | 06/01/34 | 910,787 | ||||
145,000 | Golden West CA Schs Fing Auth Ref Beverly Hills Uni Sch Dist, NATL | 5.25% | 08/01/23 | 161,658 | ||||
265,000 | Imperial CA Pub Fing Authrev Ref, AGM | 4.00% | 10/15/33 | 313,789 | ||||
360,000 | Imperial CA Pub Fing Authrev Ref, AGM | 4.00% | 10/15/35 | 421,953 | ||||
140,000 | Inglewood CA Unif Sch Dist, Ser C, BAM | 4.00% | 08/01/35 | 159,643 | ||||
960,000 | Irvine CA Impt Bond Act 1915 Ref | 4.00% | 09/02/35 | 1,147,191 | ||||
150,000 | Irvine CA Unif Sch Dist Spl Tax Cmnty Facs Dist #09-1, Ser C | 5.00% | 09/01/31 | 185,208 | ||||
890,000 | Jurupa CA Public Fing Auth Spl Tax Rev Ref, Ser A, AGM | 4.00% | 09/01/34 | 1,035,593 | ||||
290,000 | Kaweah CA Delta Healthcare Dist Rev, Ser B | 5.00% | 06/01/40 | 328,982 | ||||
100,000 | Kern Cnty CA Wtr Agy Impt Dist #4 Wtr Rev Ref, Ser A, AGM | 5.00% | 05/01/29 | 121,482 | ||||
485,000 | King City CA Union Sch Dist Cap Apprec Election 1998-C, CABS, AMBAC | (d) | 08/01/29 | 422,189 | ||||
250,000 | La Verne CA Ref Brethren Hillcrest Homes, COPS | 5.00% | 05/15/36 | 264,896 | ||||
25,000 | Lammersville CA Jt Unif Sch Dist Spl Tax Cmnty Facs Dist #2014-1, Mnt Hse Sch Facs | 4.00% | 09/01/33 | 28,634 | ||||
25,000 | Lammersville CA Jt Unif Sch Dist Spl Tax Cmnty Facs Dist #2014-1, Mnt Hse Sch Facs | 4.00% | 09/01/34 | 28,571 | ||||
200,000 | Lammersville CA Jt Unif Sch Dist Spl Tax Cmnty Facs Dist #2014-1, Mnt Hse Sch Facs | 4.00% | 09/01/40 | 224,984 | ||||
1,055,000 | Lancaster CA Fing Auth Rev Measure M&R Street Impts Proj | 4.00% | 06/01/35 | 1,253,136 | ||||
100,000 | Long Beach CA Bond Fin Auth Nat Gas Purchase Rev, Ser A | 5.25% | 11/15/23 | 112,440 | ||||
375,000 | Long Beach CA Bond Fin Auth Nat Gas Purchase Rev, Ser A | 5.50% | 11/15/30 | 503,597 | ||||
460,000 | Los Angeles CA Dept of Arpts Arpt Rev Ref Sub Los Angeles Intl Arpt, Ser D, AMT | 5.00% | 05/15/32 | 585,496 | ||||
700,000 | Los Angeles CA Dept of Arpts Arpt Rev Sub Los Angeles Intl Arpt, Ser B, AMT | 5.00% | 05/15/31 | 826,539 | ||||
250,000 | Los Angeles CA Dept of Arpts Arpt Rev Sub Los Angeles Intl Arpt, Ser F, AMT | 5.00% | 05/15/32 | 318,204 | ||||
10,000 | Los Angeles CA Dept of Arpts, Ser E | 5.00% | 05/15/28 | 11,786 | ||||
215,000 | Los Angeles CA Muni Impt Corplease Rev Ref Real Property, Ser B | 4.00% | 11/01/37 | 246,793 | ||||
500,000 | Los Angeles CA Unif Sch Dist, Ser C | 4.00% | 07/01/36 | 614,507 | ||||
410,000 | Los Osos CA Cmnty Svcs Wstwtr Assmnt Dist #1 Ref Reassmnt | 3.13% | 09/02/32 | 448,396 | ||||
100,000 | Marina CA Redev Agy Successor Agy Tax Allocation Hsg, Ser B | 5.00% | 09/01/27 | 118,207 | ||||
250,000 | Marina CA Redev Agy Successor Agy Tax Allocation Hsg, Ser B | 5.00% | 09/01/33 | 288,825 | ||||
250,000 | Marina Coast CA Wtr Dist Enterprise Rev, COPS | 4.00% | 06/01/35 | 298,629 | ||||
310,000 | Marina Coast CA Wtr Dist Enterprise Rev, COPS | 4.00% | 06/01/36 | 367,659 | ||||
1,190,000 | Marysville CA Jt Unif Sch Dist Green Bond, 2021 Energy Efficiency Proj, COPS, BAM | 4.00% | 06/01/39 | 1,381,692 | ||||
245,000 | Menifee CA Union Sch Dist Spl Tax Cmnty Facs Dist #2011-1 | 5.00% | 09/01/34 | 290,778 | ||||
500,000 | Menifee CA Union Sch Dist Spl Tax Cmnty Facs Dist #2011-1 | 5.00% | 09/01/44 | 583,373 | ||||
100,000 | Modesto CA Spl Tax Ref Cmnty Facs Dist # 2004-1 Vlg 1 #2 | 5.00% | 09/01/27 | 114,001 | ||||
200,000 | Morongo Band of Mission Indians CA Rev Ref, Ser B (a) | 5.00% | 10/01/42 | 232,590 | ||||
1,115,000 | Natomas CA Unif Sch Dist, AGM | 3.00% | 08/01/36 | 1,182,281 | ||||
250,000 | Norco CA Spl Tax Ref Norco Ridge Ranch, BAM | 5.00% | 09/01/32 | 310,596 | ||||
750,000 | Oak Vly CA Hosp Dist Hlth Facs Rev Ref, Ser A | 4.00% | 11/01/36 | 797,787 |
First Trust California Municipal High Income ETF (FCAL)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Principal Value | Description | Stated Coupon | Stated Maturity | Value | ||||
MUNICIPAL BONDS (Continued) | ||||||||
California (Continued) | ||||||||
$405,000 | Oakland CA Unif Sch Dist Alameda Cnty Election of 2012, Ser A, AGM | 4.00% | 08/01/36 | $469,332 | ||||
100,000 | Ontario CA Cmnty Facs Dist 40 Spl Tax Emeral Park Facilites | 4.00% | 09/01/34 | 114,932 | ||||
65,000 | Ontario CA Cmnty Facs Dist 40 Spl Tax Emeral Park Facilites | 4.00% | 09/01/35 | 74,616 | ||||
275,000 | Ontario CA Cmnty Facs Dist 40 Spl Tax Emeral Park Facilites | 4.00% | 09/01/39 | 313,727 | ||||
750,000 | Oxnard CA Sch Dist Election of 2016, Ser C, AGM | 4.00% | 08/01/49 | 863,245 | ||||
250,000 | Palomar Hlth CA Rev Ref | 5.00% | 11/01/31 | 290,651 | ||||
750,000 | Pleasanton CA Unif Sch Dist | 3.00% | 08/01/36 | 798,650 | ||||
210,000 | Rancho Cordova CA Cmnty Facs Dist Spl Tax No 2018-1 Grantline 208 | 5.00% | 09/01/33 | 247,689 | ||||
220,000 | Rancho Cordova CA Cmnty Facs Dist Spl Tax No 2018-1 Grantline 208 | 5.00% | 09/01/34 | 259,004 | ||||
340,000 | Rancho Cordova CA Cmnty Facs Dist Spl Tax No 2018-1 Grantline 208 | 5.00% | 09/01/39 | 396,847 | ||||
200,000 | Rancho Cordova CA Cmnty Facs Dist Spl Tax Ref #2004-1 Sunridge Park Area | 5.00% | 09/01/25 | 236,119 | ||||
500,000 | River Islands CA Pub Fing Auth Spl Tax Cmnty Facs Dist #2019-1 Phase 2 Pub Impts | 5.00% | 09/01/40 | 573,217 | ||||
300,000 | River Islands CA Pub Fing Auth Spl Tax Ref Cmnty Facs Dist #2003-1 | 5.38% | 09/01/31 | 319,945 | ||||
575,000 | Riverside CA Unif Sch Dist Election of 2016, Ser B | 3.00% | 08/01/38 | 621,016 | ||||
185,000 | Riverside CA Unif Sch Dist Fing Auth Spl Tax Ref, BAM | 5.00% | 09/01/34 | 214,752 | ||||
1,495,000 | Rocklin CA Unif Sch Dist Cmnty Facs Dist Subordinate, Ser 2019, BAM | 4.00% | 09/15/37 | 1,747,486 | ||||
185,000 | Roseville CA Spl Tax | 5.00% | 09/01/32 | 218,186 | ||||
160,000 | Roseville CA Spl Tax | 5.00% | 09/01/33 | 188,088 | ||||
170,000 | Roseville CA Spl Tax | 4.00% | 09/01/34 | 189,843 | ||||
150,000 | Roseville CA Spl Tax | 4.00% | 09/01/35 | 167,256 | ||||
200,000 | Sacramento CA Spl Tax Natomas Meadows Cmnty Facs Dist #2007-01 (a) | 5.00% | 09/01/32 | 226,555 | ||||
500,000 | Sacramento CA Transient Occupancy Tax Rev Sub Convention Ctr Complex, Ser C | 5.00% | 06/01/32 | 609,586 | ||||
385,000 | San Bruno CA Park Sch Dist, Ser B | 4.00% | 08/01/34 | 456,422 | ||||
200,000 | San Bruno CA Park Sch Dist, Ser B | 4.00% | 08/01/37 | 235,389 | ||||
510,000 | San Diego Cnty CA Limited Rev Obligs Ref Sanford Burnham Prebys Med Discovery Institute, Ser A | 5.00% | 11/01/28 | 608,376 | ||||
125,000 | San Diego Cnty CA Spl Tax Harmony Grove Vlg Impt Area No.2, Ser A | 4.00% | 09/01/32 | 141,956 | ||||
85,000 | San Diego Cnty CA Spl Tax Harmony Grove Vlg Impt Area No.2, Ser A | 4.00% | 09/01/33 | 96,304 | ||||
100,000 | San Diego Cnty CA Spl Tax Harmony Grove Vlg Impt Area No.2, Ser A | 4.00% | 09/01/34 | 113,086 | ||||
500,000 | San Francisco CA Bay Area Rapid Transit Dist Sales Tax Rev, Ser A | 4.00% | 07/01/36 | 585,294 | ||||
140,000 | San Francisco CA City & Cnty Arpts Commn Intl Arpt Rev Ref, Ser D, AMT | 5.00% | 05/01/22 | 146,611 | ||||
100,000 | San Francisco City & Cnty CA Redev Agy Successor Agy Tax Ref Mission Bay N Redev Proj, Ser A | 5.00% | 08/01/35 | 117,321 | ||||
165,000 | San Joaquin Hills CA Transprtn Corridor Agy Toll Road Rev Cap Apprec Ref, Ser A, NATL | (d) | 01/15/29 | 143,265 | ||||
675,000 | Santa Clarita CA Cmnty Facs Dist Vista Canyon #2016-1 (a) | 4.00% | 09/01/35 | 750,885 | ||||
250,000 | Santa Monica-Malibu CA Unif Sch Dist, COPS | 4.00% | 05/01/34 | 293,330 | ||||
175,000 | Simi Vly CA Unif Sch Dist, Ser B | 4.00% | 08/01/33 | 206,038 | ||||
370,000 | Simi Vly CA Unif Sch Dist, Ser B | 4.00% | 08/01/38 | 431,018 | ||||
500,000 | Simi Vly CA Unif Sch Dist, Ser C | 4.00% | 08/01/43 | 584,921 |
First Trust California Municipal High Income ETF (FCAL)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Principal Value | Description | Stated Coupon | Stated Maturity | Value | ||||
MUNICIPAL BONDS (Continued) | ||||||||
California (Continued) | ||||||||
$150,000 | Soledad CA Unif Sch Dist Premium Ref Bans, CABS | (d) | 08/01/21 | $149,848 | ||||
305,000 | Tahoe-Truckee CA Unif Sch Dist, COPS, BAM | 4.00% | 06/01/37 | 346,055 | ||||
260,000 | Tahoe-Truckee CA Unif Sch Dist, COPS, BAM | 4.00% | 06/01/39 | 294,044 | ||||
150,000 | Temecula Vly CA Unif Sch Dist Cmnty Facs Dist #2014-1 | 5.00% | 09/01/32 | 174,450 | ||||
400,000 | Temecula Vly Unif Sch Dist Fing Auth CA Spl Tax Rev, BAM | 5.00% | 09/01/34 | 462,196 | ||||
500,000 | Temescal Vly CA Wtr Dist Spl Tax Terramor Cmnty Facs Dist #4 Impt Area #1 | 5.00% | 09/01/31 | 581,247 | ||||
1,000,000 | Tobacco Securitization Auth Sthrn CA Tobacco Settlement Rev Ref San Diego Co Tobacco Securitization Corp Class 1, Ser A | 5.00% | 06/01/37 | 1,269,917 | ||||
145,000 | Tobacco Securitization Auth Sthrn CA Tobacco Settlement Rev Ref San Diego Co Tobacco Securitization Corp Class 2, Ser B-1 | 2.25% | 06/01/29 | 145,306 | ||||
1,000,000 | Tobacco Securitization Auth Sthrn CA Tobacco Settlement Rev San Diego Co Asset Securitization Corp Class 1, Ser A | 5.00% | 06/01/38 | 1,265,590 | ||||
250,000 | Tracy CA Cmnty Facs Dist | 5.00% | 09/01/33 | 288,711 | ||||
470,000 | Transbay Jt Powers Auth CA Green Bnd Sr Tax Alloc Bnds, Ser A | 5.00% | 10/01/33 | 599,328 | ||||
900,000 | Transbay Jt Powers Auth CA Green Bnd Sr Tax Alloc Bnds, Ser A | 5.00% | 10/01/39 | 1,129,140 | ||||
500,000 | Univ of California CA Revs Ref Limited Proj, Ser O | 5.00% | 05/15/48 | 619,033 | ||||
100,000 | W Contra Costa CA Unif Sch Dist Ref, Ser A | 5.00% | 08/01/31 | 118,084 | ||||
83,319,143 | ||||||||
Colorado – 0.6% | ||||||||
500,000 | Willow Bend Met Dist CO Sr, Ser A | 5.00% | 12/01/39 | 541,650 | ||||
Florida – 1.1% | ||||||||
500,000 | FL Dev Fin Corp Surface Tranprtn Fac Rev Green Bond-Brightline Passenger Rail Remk, Ser B, AMT (a) | 7.38% | 01/01/49 | 520,000 | ||||
205,000 | Parkland Preserve CDD FL Spl Assmnt Rev, Ser A | 4.50% | 05/01/24 | 211,204 | ||||
250,000 | Rhodine Road North CDD FL Spl Assmnt | 4.00% | 05/01/30 | 269,984 | ||||
1,001,188 | ||||||||
Georgia – 0.6% | ||||||||
500,000 | Fulton Cnty GA Rsdl Care Facs Elderly Auth Retmnt Fac Rev Ref Lenbrook Sq Fdtn Inc | 5.00% | 07/01/42 | 534,686 | ||||
Guam – 1.5% | ||||||||
100,000 | Guam Govt Business Privilege Tax Rev Ref, Ser D | 5.00% | 11/15/32 | 113,201 | ||||
355,000 | Guam Govt Business Privilege Tax Rev, Ser B-1 | 5.00% | 01/01/37 | 364,918 | ||||
750,000 | Guam Govt Wtrwks Auth Wtr & Wstwtr Sys Rev, Ser A | 5.00% | 01/01/50 | 913,912 | ||||
1,392,031 | ||||||||
Illinois – 0.3% | ||||||||
35,000 | Chicago IL Ref, Ser C, CABS | (d) | 01/01/22 | 34,673 | ||||
135,000 | Chicago IL Ref, Ser C, CABS | (d) | 01/01/24 | 129,125 | ||||
120,000 | IL St, Ser A | 4.00% | 01/01/25 | 122,676 | ||||
286,474 | ||||||||
Louisiana – 1.0% | ||||||||
750,000 | Saint James Parish LA Rev Var Nustar Logistics LP Proj, Ser 2008 (Mandatory put 06/01/30) (a) | 6.10% | 06/01/38 | 954,010 | ||||
Ohio – 0.9% | ||||||||
750,000 | Buckeye OH Tobacco Settlement Fing Auth Ref Sr, Class 2, Ser B-2 | 5.00% | 06/01/55 | 843,133 | ||||
Puerto Rico – 2.2% | ||||||||
100,000 | Puerto Rico Cmwlth Ref Pub Impt, Ser A, AGM | 5.00% | 07/01/35 | 104,035 |
First Trust California Municipal High Income ETF (FCAL)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Principal Value | Description | Stated Coupon | Stated Maturity | Value | ||||
MUNICIPAL BONDS (Continued) | ||||||||
Puerto Rico (Continued) | ||||||||
$1,295,000 | Puerto Rico Sales Tax Fing Corp Sales Tax Rev Restructured, Ser A-1 | 4.50% | 07/01/34 | $1,416,238 | ||||
616,000 | Puerto Rico Sales Tax Fing Corp Sales Tax Rev Restructured, Ser A-1, CABS | (d) | 07/01/29 | 518,934 | ||||
2,039,207 | ||||||||
Texas – 0.5% | ||||||||
370,000 | Houston TX Arpt Sys Rev Ref United Airls Inc Terminal Improv Proj, Ser B-2, AMT | 5.00% | 07/15/27 | 438,084 |
Total Investments – 98.6% | 91,349,606 | ||
(Cost $86,438,319) (e) | |||
Net Other Assets and Liabilities – 1.4% | 1,295,164 | ||
Net Assets – 100.0% | $92,644,770 |
Futures Contracts | Position | Number of Contracts | Expiration Date | Notional Value | Unrealized Appreciation (Depreciation)/ Value | |||||
U.S. Treasury Long Bonds | Short | 11 | Jun 2021 | $ (1,729,750) | $375 | |||||
U.S. Treasury Ultra 10-Year Notes | Short | 20 | Jun 2021 | (2,910,938) | 26,094 | |||||
Total Futures Contracts | $(4,640,688) | $26,469 |
(a) | This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A under the Securities Act of 1933, as amended (the “1933 Act”), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P. (the “Advisor”). Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At April 30, 2021, securities noted as such amounted to $13,264,318 or 14.3% of net assets. |
(b) | This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A under the 1933 Act, and may be resold in transactions exempt from registration, normally to qualified institutional buyers. See Restricted Securities table. |
(c) | Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by the Advisor. |
(d) | Zero coupon bond. |
(e) | Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of April 30, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $4,947,032 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $9,276. The net unrealized appreciation was $4,937,756. The unrealized amounts presented are inclusive of derivative contracts. |
AGM | Assured Guaranty Municipal Corp. |
AMBAC | American Municipal Bond Assurance Corp. |
AMT | Alternative Minimum Tax |
BAM | Build America Mutual |
CA MTG INS | California Mortgage Insurance |
CABS | Capital Appreciation Bonds |
COPS | Certificates of Participation |
NATL | National Public Finance Guarantee Corp. |
First Trust California Municipal High Income ETF (FCAL)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Valuation Inputs
The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.) |
• | Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.
A summary of the inputs used to value the Fund’s investments as of April 30, 2021 is as follows:
Total Value at 4/30/2021 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Municipal Bonds* | $ 91,349,606 | $ — | $ 91,349,606 | $ — |
Futures Contracts | 26,469 | 26,469 | — | — |
Total | $ 91,376,075 | $ 26,469 | $ 91,349,606 | $— |
* | See Portfolio of Investments for state and territory breakout. |
Restricted Securities
As of April 30, 2021, the Fund held restricted securities as shown in the following table that the Advisor has deemed illiquid.
Security | Acquisition Date | Principal Value | Current Price | Carrying Cost | Value | % of Net Assets | ||
CA St Muni Fin Auth Chrt Sch Lease Rev Sycamore Academy Proj, 5.38%, 07/01/34 | 06/14/18 | $250,000 | $108.23 | $252,486 | $270,580 | 0.29% | ||
CA St Sch Fin Auth Chrt Sch Rev Rocketship Pub Schs, Ser G, 5.00%, 06/01/37 | 12/05/17 | 300,000 | 113.40 | 310,771 | 340,214 | 0.37 | ||
$563,257 | $610,794 | 0.66% |