MISL ETF — First Trust Indxx Aerospace & Defense ETF

First Trust Indxx Aerospace & Defense ETF (MISL)

MISL is an ETF. As of September 3, 2026, its distribution rate is 0.13%, its trailing-12-month yield is 0.31%, its expense ratio is 0.60%. Dividend Vision Distribution Safety Score™ is 71/100 (Generally safe). Total return is 117.0% over the past 3.9 years, 4.4 points ahead of SPY at 112.6%.

At the current 0.13% distribution rate, a $10,000 investment would generate approximately $13 per year, or $1.08 per month on an equivalent basis. Actual quarterly payments vary.

First Trust Indxx Aerospace & Defense ETF is an ETF that tracks a rules-based index of aerospace and defense companies, investing at least 80% of its net assets in the common stocks that comprise the index. The fund has a modest current distribution rate and distributes quarterly, with an expense ratio of 0.60%. It may appeal to investors seeking exposure to the aerospace and defense sector.

MISL performance versus SPY

Data as of September 3, 2026.

Total return is 117.0% over the past 3.9 years, 4.4 points ahead of SPY at 112.6%. Its deepest 1-year drawdown was 17.1%.

MISL key facts

Data as of September 3, 2026.

Distribution Safety Score™

71 · Generally safe

Safety-Adjusted Yield

0.09%

Issuer

First Trust

Asset type

ETF

Asset class

Equity

Inception date

10/25/2022

Expense ratio

0.60%

Distribution rate

0.13%

Distribution frequency

Quarterly

Trailing yield

0.31%

Last close

$43.91

NAV

$42.96

Premium / discount

2.21% premium

AUM

$708,913,113

Average volume

43773.0

Last dividend

$0.029

Last ex-dividend date

03/26/2026

Last payment date

03/31/2026

Beta

0.92

P/E ratio

32.552

How Dividend Vision calculates yield and returns

Distribution rate (0.13%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (0.31%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. 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. Figures below use Dividend Vision data as of September 3, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of September 3, 2026.

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.

MISL risks and drawbacks

MISL'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. The deepest 1-year drawdown on record here is 17.1%.

Who may consider MISL — and who may not

It is a weaker fit for investors who need monthly cash flow (MISL pays quarterly); investors hunting double-digit covered-call yields. This is educational context, not a recommendation to buy or sell.

Compare MISL

MISL vs similar funds:

• MISL vs XSPC

Frequently asked questions

More securities from First Trust.