- 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
- $818M
Share Price Chart
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Performance
MISL Performance Chart
First Trust Indxx Aerospace & Defense ETF (MISL) is up 4.2% since the beginning of the year. MISL is currently trading at $45 per share.
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Returns By Period
First Trust Indxx Aerospace & Defense ETF (MISL) has returned 4.18% so far this year and 25.39% over the past 12 months.
First Trust Indxx Aerospace & Defense ETF
- 1D
- -3.99%
- 1M
- -4.32%
- YTD
- 4.18%
- 6M
- 1.80%
- 1Y
- 25.39%
- 3Y*
- 26.09%
- 5Y*
- —
- 10Y*
- —
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%
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 +1.89%. At this rate, an investment would double in approximately 3.1 years.
Historically, 67% of months were positive and 33% 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% | -8.93% | 4.18% | ||||||
| 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 8.53%, beta of 0.80, and R2 of 0.40 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 (58.27%) - typical of diversified or defensive assets.
- R2 of 0.40 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
- 8.53%
- Beta
- 0.80
- R²
- 0.40
- Upside Capture
- 93.19%
- Downside Capture
- 58.27%
Expense Ratio
MISL has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MISL ranks 30 for risk / return — below 30% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by 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 | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.37 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.78 | -1.16 |
| Martin ratioReturn relative to average drawdown | 4.06 | 12.44 | -8.38 |
Dividends
Dividend History
First Trust Indxx Aerospace & Defense ETF provided a 0.37% dividend yield over the last twelve months, with an annual payout of $0.16 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.16 | $0.17 | $0.23 | $0.16 | $0.02 |
Dividend yield | 0.37% | 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 | $0.03 | ||||||
| 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 12.61%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -17.91%Apr 2025 | 4mo 23d | 1mo 11d | 6mo 4dNov 2024 - May 2025 |
2026 correction2026 | -15.69%Apr 2026 | 3mo 9d | — | 5mo 4dJan 2026 - now |
2025 correction2025 | -10.49%Nov 2025 | 1mo 12d | 1mo 3d | 2mo 15dOct 2025 - Dec 2025 |
2023 correction2023 | -10.18%Oct 2023 | 2mo 4d | 1mo 9d | 3mo 13dAug 2023 - Nov 2023 |
2023 pullback2023 | -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 | -15.69% | -9.10% | -6.59% |
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 | -12.61% | -1.80% | -10.81% |
Average DrawdownAverage peak-to-trough decline | -3.57% | -10.71% | +7.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.26% | 2.03% | +4.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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