- ISIN
- US33739P1030
- CUSIP
- 33739P103
- Issuer
- First Trust
- Inception Date
- Sep 9, 2014
- Region
- North America (U.S.)
- Category
- Long-Short
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Assets Under Management
- $2B
Share Price Chart
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Performance
FTLS Performance Chart
First Trust Long/Short Equity ETF (FTLS) is up 5.6% since the beginning of the year. FTLS is currently trading at $75 per share. Investors who bought $1,000 worth of FTLS shares 5 years ago would now be looking at an investment worth $1,630.
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Returns By Period
First Trust Long/Short Equity ETF (FTLS) has returned 5.55% so far this year and 16.53% over the past 12 months. Over the last ten years, FTLS has returned 10.02% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
First Trust Long/Short Equity ETF
- 1D
- 0.48%
- 1M
- 0.28%
- YTD
- 5.55%
- 6M
- 5.16%
- 1Y
- 16.53%
- 3Y*
- 14.35%
- 5Y*
- 10.26%
- 10Y*
- 10.02%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FTLS Monthly Returns History
Based on dividend-adjusted daily data since Sep 10, 2014, FTLS's average daily return is +0.04%, while the average monthly return is +0.75%. At this rate, an investment would double in approximately 7.7 years.
Historically, 63% of months were positive and 37% were negative. The best month was Apr 2020 with a return of +6.0%, while the worst month was Feb 2020 at -6.6%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, FTLS closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +4.4%, while the worst single day was Mar 16, 2020 at -7.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.03% | -0.65% | -1.17% | 4.87% | 0.81% | 0.63% | 5.55% | ||||||
| 2025 | 2.70% | -1.72% | -3.31% | -0.86% | 3.15% | 1.49% | 0.71% | 1.36% | 3.65% | 1.47% | 0.82% | -0.50% | 9.09% |
| 2024 | 3.16% | 3.88% | 2.49% | -3.89% | 3.53% | 2.52% | 0.53% | 1.24% | 0.06% | 0.55% | 3.82% | -0.25% | 18.80% |
| 2023 | 3.01% | -2.09% | 3.35% | 1.63% | -0.72% | 3.37% | 2.42% | -0.85% | -0.47% | -0.36% | 4.46% | 2.24% | 16.94% |
| 2022 | -3.99% | -0.66% | 1.87% | -1.64% | 2.17% | -4.52% | 3.13% | -1.85% | -4.74% | 4.46% | 4.27% | -3.55% | -5.56% |
| 2021 | 2.90% | 1.51% | -0.23% | 3.07% | 2.48% | 1.37% | 0.79% | 1.54% | -2.89% | 4.24% | -0.16% | 3.68% | 19.65% |
Benchmark Metrics
First Trust Long/Short Equity ETF has an annualized alpha of 2.43%, beta of 0.54, and R2 of 0.72 versus S&P 500 Index. Calculated based on daily prices since September 10, 2014.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (57.19%) than losses (56.09%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 2.43% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.54 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.43%
- Beta
- 0.54
- R²
- 0.72
- Upside Capture
- 57.19%
- Downside Capture
- 56.09%
Expense Ratio
FTLS has a high expense ratio of 1.60%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FTLS ranks 69 for risk / return — better than 69% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for First Trust Long/Short Equity ETF (FTLS) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FTLS | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.39 | 2.78 | +1.60 |
| Martin ratioReturn relative to average drawdown | 13.59 | 12.44 | +1.16 |
Dividends
Dividend History
First Trust Long/Short Equity ETF provided a 0.90% dividend yield over the last twelve months, with an annual payout of $0.67 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.67 | $0.76 | $0.99 | $0.84 | $0.40 | $0.00 | $0.19 | $0.35 | $0.32 | $0.17 | $0.36 | $0.16 |
Dividend yield | 0.90% | 1.07% | 1.50% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Long/Short Equity ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.00 | $0.06 | ||||||
| 2025 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.22 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.21 | $0.76 |
| 2024 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.31 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.29 | $0.99 |
| 2023 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.30 | $0.84 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.33 | $0.40 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust Long/Short Equity ETF. 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 Long/Short Equity ETF was 20.54%, occurring on Mar 23, 2020. Recovery took 112 trading sessions.
The current First Trust Long/Short Equity ETF drawdown is 0.02%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -20.54%Mar 2020 | 1mo 2d | 5mo 11d | 6mo 13dFeb 2020 - Aug 2020 |
Rate-hike selloffLate 2018 | -13.38%Dec 2018 | 10mo 29d | 8mo 27d | 1y 7moJan 2018 - Sep 2019 |
2025 selloff2025 | -11.69%Apr 2025 | 2mo 14d | 4mo 21d | 7mo 5dJan 2025 - Aug 2025 |
Bear market2022 | -10.35%Sep 2022 | 9mo 4d | 8mo 5d | 1y 5moDec 2021 - Jun 2023 |
2016 pullback2016 | -9.26%Feb 2016 | 2mo 11d | 5mo 16d | 7mo 27dDec 2015 - Jul 2016 |
Drawdown Indicators
| FTLS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.54% | -56.78% | +36.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -9.10% | +5.31% |
Max Drawdown (3Y)Largest decline over 3 years | -11.69% | -18.90% | +7.21% |
Max Drawdown (5Y)Largest decline over 5 years | -11.69% | -25.43% | +13.74% |
Max Drawdown (10Y)Largest decline over 10 years | -20.54% | -33.92% | +13.38% |
Current DrawdownCurrent decline from peak | -0.02% | -1.80% | +1.78% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -10.71% | +8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 2.03% | -0.81% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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