First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG)
First Trust Intermediate Duration Investment Grade Corporate ETF operates in the Asset Management industry of the Financial Services sector, headquartered in Wheaton, IL, US. The stock last traded at $20.43, up 0.12% on the session, giving a market capitalisation of $660.9M. Its beta of 0.29 implies it has historically moved less than the broad market.
The First Trust Intermediate Duration Investment Grade Corporate ETF (FIIG) seeks to provide a combination of steady income and long-term capital appreciation. To fulfill this objective, the Fund normally commits at least 80% of its net assets (along with any leveraged funds) to corporate debt securities that are rated as investment grade. These corporate instruments are financial obligations issued by businesses to fund their activities, encompassing various types like notes, bonds, loans, debentures, and commercial paper. Their key distinctions often lie in their maturity lengths and whether they are backed by collateral. Commercial paper, for example, is typically short-term and unsecured. The interest payments on these corporate debt holdings can be either fixed or adjustable. Furthermore, the Fund's investments may extend to senior loans and covenant-lite loans.
First Trust Intermediate Duration Investment Grade Corporate ETF is most often compared with the following Financial Services names: