First Trust Long/Short Equity ETF
FTLS
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 120 East Liberty Drive, Suite 400 Wheaton IL United States of America 60187
- IPO Date
- Sep 9, 2014
- CIK
- 0001424212
- Website
- ftportfolios.com
- Similar Companies
- Business
- First Trust Long/Short Equity ETF (FTLS) is an actively managed exchange-traded fund that seeks capital appreciation by investing primarily in U.S.-listed equity securities and ETFs using a long/short equity strategy. The fund establishes long positions typically comprising 90-100% of its portfolio and short positions of 0-50%, with up to 20% exposure to U.S. exchange-listed equity index futures contracts; it maintains significant cash holdings (approximately 28-30%) and focuses on large-cap stocks across sectors such as information technology, financials, health care, consumer discretionary, and communication services, with top holdings including Apple Inc., Microsoft Corp., Alphabet Inc., and NVIDIA Corp., while shorting select underperformers in utilities, materials, and consumer staples. FTLS trades on the NYSE Arca exchange and targets investors seeking long-term total returns with lower volatility than traditional long-only equity benchmarks like the S&P 500 Index. Launched on September 9, 2014, FTLS is advised by First Trust Advisors L.P., an affiliate of First Trust Portfolios L.P., with portfolio management led by John W. Gambla and Rob A. Guttschow, each with over 11 years of tenure on the fund; the adviser is headquartered in Wheaton, Illinois. The fund operates globally through its equity exposures, including minor non-U.S. stock positions (less than 1%), but primarily focuses on U.S. markets and serves institutional and retail investors seeking alternatives to passive equity strategies. As of late 2025, FTLS manages approximately $2.01 billion in assets under management, with an expense ratio of 1.38% and a portfolio turnover rate of 235%; it has delivered a one-year total return of about 10.48% and an inception-to-date annualized return of 8.92%, alongside quarterly dividend distributions averaging $0.83 annually (yield of 1.19%). Recent portfolio adjustments reflect ongoing active management amid market volatility, including increased allocations to technology leaders like NVIDIA and Broadcom while maintaining short positions in high-valuation growth names such as Intuitive Surgical Inc., Palo Alto Networks Inc., and NextEra Energy Inc., as shown in holdings data from December 2025; no major structural changes, acquisitions, partnerships, or new product launches have been reported for the fund in the last 1-2 years, underscoring its consistent long/short methodology.