First Trust Mortgage Income Fund (FMY)

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The chart shows the growth of an initial investment of $10,000 in First Trust Mortgage Income Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

First Trust Mortgage Income Fund (FMY) has returned -2.09% so far this year and 3.04% over the past 12 months. Over the last ten years, FMY has returned 3.91% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since May 26, 2005, FMY's average daily return is +0.02%, while the average monthly return is +0.39%. At this rate, your investment would double in approximately 14.8 years.

Historically, 61% of months were positive and 39% were negative. The best month was Dec 2023 with a return of +9.1%, while the worst month was Mar 2020 at -11.9%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.

On a daily basis, FMY closed higher 49% of trading days. The best single day was Sep 18, 2008 with a return of +14.6%, while the worst single day was Oct 9, 2008 at -14.5%.

First Trust Mortgage Income Fund has an annualized alpha of 3.94%, beta of 0.14, and R² of 0.04 versus S&P 500 Index. Calculated based on daily prices since May 27, 2005.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (29.45%) than losses (28.20%) — typical of diversified or defensive assets.
• Beta of 0.14 may look defensive, but with R² of 0.04 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.04 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

FMY has an expense ratio of 0.03%, which is considered low.

FMY ranks 14 for risk / return — in the bottom 14% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for First Trust Mortgage Income Fund (FMY) and compare them to a chosen benchmark (S&P 500 Index).

First Trust Mortgage Income Fund provided a 6.97% dividend yield over the last twelve months, with an annual payout of $0.82 per share.

The table displays the monthly dividend distributions for First Trust Mortgage Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the First Trust Mortgage Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the First Trust Mortgage Income Fund was 27.98%, occurring on Oct 9, 2008. Recovery took 38 trading sessions.

The current First Trust Mortgage Income Fund drawdown is 4.11%.

The chart below shows the rolling one-month volatility.