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Under normal market conditions, the Fund invests at least 80% of its net assets (including investment borrowings) in a portfolio of fixed income securities. The Fund's investment sub-advisor, Smith Capital Investors, LLC ("Smith Capital" or the "Sub-Advisor"),manages the Fund's portfolio in an "unconstrained" manner, meaning that its investment universe is not limited to the securities of any particular index and it has discretion to invest in fixed income securities of any type or credit quality, including up to 70% of its net assets in high yield (or "junk") securities, up to 25% of its net assets in securities issued by issuers with significant ties to emerging market countries and up to 10% of its net assets in securities denominated in non-U.S. currencies. Additionally, under normal market conditions, the Fund's average portfolio duration will vary from between 0 to 10 years. Smith Capital believes that markets move in cycles, which requires adaptability, discipline, and deep fundamental research. As part of this philosophy, Smith Capital seeks to proactively adjust risk exposure over market cycles by moving between defensive, neutral, and opportunistic positioning informed by macroeconomic views on the business and economic cycle, and valuations that exist in the market.
First Trust Smith Unconstrained Bond ETF trades on the ARCA stock market under the symbol UCON.
As of July 15, 2026, UCON stock price climbed to $24.83 with 128,615 million shares trading.
UCON has a beta of 0.10, meaning it tends to be less sensitive to market movements. UCON has a correlation of 0.17 to the broad based SPY ETF.
UCON has a market cap of $3.30 billion. This is considered a Mid Cap stock.
In the last 3 years, UCON traded as high as $25.63 and as low as $23.45.
UCON has underperformed the market in the last year with a price return of +4.7% while the SPY ETF gained +21.8%. UCON has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +0.2% and -0.2%, respectively, while the SPY returned +8.8% and +0.9%, respectively.
UCON support price is $24.73 and resistance is $24.84 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that UCON shares will trade within this expected range on the day.
