First Trust Tactical High Yield ETF
HYLS
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- First Trust Tactical High Yield ETF (HYLS) is an actively managed exchange-traded fund that seeks high current income by investing primarily in a tactical portfolio of U.S. high yield corporate debt securities; it employs a long-short strategy, holding up to 130% long exposure in high yield bonds expected to outperform and up to 30% short positions in underperformers; the fund may also allocate up to 15% to distressed debt securities and up to 10% to non-U.S. dollar-denominated high yield securities. HYLS's portfolio comprises over 300 holdings, including senior loans, floating rate notes, and fixed-rate bonds from issuers such as Graham Packaging Company (7.125% due 2028), Lightning Power LLC (7.25% due 2032), United Rentals (6% due 2029), Cotiviti Inc. (7.625% due 2031), and DISH Network Corp. (11.75% due 2027); it targets below-investment-grade debt across sectors like insurance, healthcare, consumer services, media, and energy. The fund, part of First Trust Exchange-Traded Fund IV and advised by First Trust Advisors L.P., trades on Nasdaq with approximately $1.74 billion in assets under management and an expense ratio of 1.02%; it was launched on February 25, 2013, with headquarters in Wheaton, Illinois. In recent developments, First Trust Advisors L.P. announced monthly distributions for HYLS, including $0.2225 per share in December 2025 and $0.2200 per share in November 2025; the firm also declared fee waivers for certain fixed income funds effective January 1, 2026, and made trustee appointments in September 2023 and October 2021 to enhance governance. HYLS focuses on institutional and retail investors seeking high yield exposure with active risk management, primarily in the U.S. market with limited global debt inclusions.