First Trust California Municipal High income ETF (FCAL)
About First Trust California Municipal High income ETF (FCAL)
Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least 80 percent of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes and California income taxes (collectively, Municipal Securities). Municipal Securities will be issued by or on behalf of the State of California or territories or possessions of the U.S. (including, but not limited to, Puerto Rico, the U.S. Virgin Islands and Guam), and/ or the political subdivisions, agencies, authorities and other instrumentalities of such State, territories or possessions. Under normal market conditions, the Fund will invest at least 80% of its net assets in Municipal Securities that are issued by or on behalf of the State of California. In general, Municipal Securities issued by or on behalf of the State of California will be exempt from the California individual income tax. Municipal Securities issued by or on behalf of territories or possessions of the U.S. and/ or the political subdivisions, agencies, authorities and other instrumentalities of such territories or possessions (collectively, Territorial Obligations) will pay interest that is exempt from regular federal income taxes and the California individual income tax.
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First Trust California Municipal High income ETF News
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Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website. Please read the prospectus carefully prior to investing.
Shares of ETFs must be bought and sold at market price, which can vary significantly from the Fund’s net asset value (NAV). Investment returns are subject to market volatility and shares may be worth more or less their original value when redeemed. The diversification of an ETF will not protect against loss. An ETF may not achieve its stated investment objective. Rebalancing and other activities within the fund may be subject to tax consequences.
Performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate and when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the standardized performance data quoted. Select the Standardized Performance link for the latest quarterly performance.