MMSC ETF — First Trust Multi-Manager Small Cap Opportunities ETF

First Trust Multi-Manager Small Cap Opportunities ETF (MMSC)

Updated October 16, 2026.

MMSC is an ETF. its expense ratio is 0.95%. Total return is 23.5% over the past 5 years, 60.9 points behind SPY at 84.4%.

First Trust Multi-Manager Small Cap Opportunities ETF is an actively managed fund that invests at least 80% of its assets in equity securities issued by small capitalization companies, primarily those within the Russell 2000® Growth Index range, with an investment strategy focused on earnings growth. The fund does not currently distribute income, though it recently made a special one-time distribution that should not be expected to recur regularly. With an expense ratio of 0.95%, this fund may appeal to growth-oriented investors seeking small-cap equity exposure rather than current income.

MMSC performance versus SPY

Price and return data through 2026-10-16.

Total return is 23.5% over the past 5 years, 60.9 points behind SPY at 84.4%. Over the past year its total return — price change plus distributions reinvested — is 5.6%. Its deepest 1-year drawdown was 14.3%.

MMSC key facts

Issuer

First Trust

Asset type

ETF

Asset class

Equity

Inception date

10/13/2021

Expense ratio

0.95%

Distribution frequency

None

Last close

$25.32 (as of 2026-10-16)

AUM

$50,917,097

Average volume

17400.0

Ex-dividend date

12/13/2024

Payment date

12/31/2024

Beta

1.4

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield 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.

MMSC risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 14.3%.

Who may consider MMSC — and who may not

It is a weaker fit for investors who need monthly cash flow (MMSC does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on MMSC

• All tickers starting with M

Tagged: Small Caps.

Frequently asked questions

More securities from First Trust.