FTLS ETF — First Trust Long/Short Equity ETF

First Trust Long/Short Equity ETF (FTLS)

Updated October 16, 2026.

FTLS is an ETF. its distribution rate is 0.95%, its trailing-12-month yield is 0.87%, its expense ratio is 1.38%. Dividend Vision Distribution Safety Score™ is 69/100 (Generally safe). Total return is 185.2% over the past 12.1 years, 184.3 points behind SPY at 369.5%.

First Trust Long/Short Equity ETF is an ETF that pursues a long/short strategy by establishing both long and short positions in U.S. exchange-listed equity securities and ETFs, with at least 80% of net assets committed to this strategy and the ability to use equity index futures for up to 20% of assets. The fund distributes quarterly at a modest current distribution rate and carries an expense ratio of 1.38%. It appeals to investors seeking equity market exposure with a market-neutral or hedged approach that aims to profit from both rising and falling stock prices.

FTLS performance versus SPY

Price and return data through 2026-10-16.

Total return is 185.2% over the past 12.1 years, 184.3 points behind SPY at 369.5%. Over the past year its total return — price change plus distributions reinvested — is 13.0%. Its deepest 1-year drawdown was 3.8%.

FTLS key facts

Distribution Safety Score™

69 · Generally safe

Safety-Adjusted Yield

0.66%

Issuer

First Trust

Asset type

ETF

Asset class

Equity

Inception date

09/08/2014

Expense ratio

1.38%

Distribution rate

0.95%

Distribution frequency

Quarterly

Trailing yield

0.87%

Last close

$76.86 (as of 2026-10-16)

AUM

$2,646,005,868

Average volume

147818.0

Dividend

$0.183

Ex-dividend date

09/24/2026

Payment date

09/30/2026

Beta

0.49

How Dividend Vision calculates yield and returns

Distribution rate (0.95%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.87%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: First Trust or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

FTLS risks and drawbacks

FTLS's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 3.8%.

Who may consider FTLS — and who may not

It is a weaker fit for investors who need monthly cash flow (FTLS pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on FTLS

• All tickers starting with F

Frequently asked questions

More securities from First Trust.