- ISIN
- US33733E8315
- Issuer
- First Trust
- Inception Date
- Oct 25, 2022
- Category
- Industrials Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- Indxx US Aerospace & Defense Index - Benchmark TR Gross
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $727M
Highlights
- Avg. Volume (1M)
- 93K
- Avg. Volume Value (1M)
- $4.06M
Share Price Chart
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Performance
MISL Performance Chart
First Trust Indxx Aerospace & Defense ETF (MISL) is up 0.6% since the beginning of the year. MISL is currently trading at $43 per share.
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Returns By Period
First Trust Indxx Aerospace & Defense ETF (MISL) has returned 0.62% so far this year and 11.41% over the past 12 months.
First Trust Indxx Aerospace & Defense ETF
- 1D
- 0.47%
- 1M
- -8.15%
- 6M
- -12.00%
- YTD
- 0.62%
- 1Y
- 11.41%
- 3Y*
- 22.59%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 22.22%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
MISL Monthly Returns History
Based on dividend-adjusted daily data since Oct 26, 2022, MISL's average daily return is +0.09%, while the average monthly return is +1.78%. At this rate, an investment would double in approximately 3.3 years.
Historically, 65% of months were positive and 35% were negative. The best month was Jan 2026 with a return of +14.4%, while the worst month was Mar 2026 at -9.3%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 3 months.
On a daily basis, MISL closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +8.6%, while the worst single day was Apr 4, 2025 at -7.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 14.35% | 0.80% | -9.29% | -1.12% | 10.65% | -6.44% | -5.99% | 0.62% | |||||
| 2025 | 2.91% | -3.59% | 0.40% | 4.72% | 8.90% | 8.27% | 3.85% | 1.01% | 6.04% | 3.91% | -5.40% | 5.03% | 41.24% |
| 2024 | -1.98% | 5.49% | 3.46% | -0.66% | 6.11% | -2.25% | 8.68% | 3.81% | 0.54% | -1.42% | 3.45% | -5.51% | 20.48% |
| 2023 | 1.23% | 0.40% | -0.96% | -0.84% | -4.13% | 9.20% | 1.44% | -1.31% | -6.44% | 4.37% | 7.00% | 5.02% | 14.78% |
| 2022 | 4.03% | 3.23% | 0.78% | 8.22% |
Benchmark Metrics
First Trust Indxx Aerospace & Defense ETF has an annualized alpha of 7.23%, beta of 0.80, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since October 26, 2022.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (93.19%) than losses (66.51%) - typical of diversified or defensive assets.
- R2 of 0.39 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 7.23%
- Beta
- 0.80
- R²
- 0.39
- Upside Capture
- 93.19%
- Downside Capture
- 66.51%
Expense Ratio
MISL has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MISL ranks 22 for risk / return — above 22% of ETFs peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for First Trust Indxx Aerospace & Defense ETF (MISL) 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.
| MISL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.25 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.00 | -1.34 |
| Martin ratioReturn relative to average drawdown | 1.46 | 8.49 | -7.03 |
Dividends
Dividend History
First Trust Indxx Aerospace & Defense ETF provided a 0.32% dividend yield over the last twelve months, with an annual payout of $0.14 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.14 | $0.17 | $0.23 | $0.16 | $0.02 |
Dividend yield | 0.32% | 0.40% | 0.74% | 0.63% | 0.08% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Indxx Aerospace & Defense 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 | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | |||||
| 2025 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.00 | $0.17 |
| 2024 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.14 | $0.23 |
| 2023 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.10 | $0.16 |
| 2022 | $0.02 | $0.02 |
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 Indxx Aerospace & Defense 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 Indxx Aerospace & Defense ETF was 17.91%, occurring on Apr 4, 2025. Recovery took 28 trading sessions.
The current First Trust Indxx Aerospace & Defense ETF drawdown is 15.59%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-17.91%Apr 2025 | 4mo 23d | 1mo 11d | 6mo 4dNov 2024 - May 2025 | 2025 selloff2025 |
-17.12%Jul 2026 | 6mo 1d | — | 6mo 15dJan 2026 - now | — |
-10.49%Nov 2025 | 1mo 12d | 1mo 3d | 2mo 15dOct 2025 - Dec 2025 | — |
-10.18%Oct 2023 | 2mo 4d | 1mo 9d | 3mo 13dAug 2023 - Nov 2023 | — |
-7.93%May 2023 | 3mo 9d | 21d | 4moFeb 2023 - Jun 2023 | — |
Drawdown Indicators
| MISL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.91% | -56.78% | +38.87% |
Max Drawdown (1Y)Largest decline over 1 year | -17.12% | -9.10% | -8.02% |
Max Drawdown (3Y)Largest decline over 3 years | -17.91% | -18.90% | +0.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -15.59% | -1.58% | -14.01% |
Average DrawdownAverage peak-to-trough decline | -3.87% | -10.70% | +6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 2.14% | +5.61% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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