At a glance
FCTR charges 0.65% a year, above the 0.36% average of the 7 funds most like it (the most expensive of 8). It has $57.2M in assets, the 8th largest of that group; it paid 0.59% of its price in distributions over the past 12 months, semiannual. Over the past year it returned −2.5% with distributions reinvested (S&P 500: +11.5%), 7th of those 8 funds; over three years it returned +16.8% a year. At its worst it fell 35.9% in the 2020 crash (S&P 500: 33.7%) and 25.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 26 months after the lows. Its ten largest positions make up 18.1% of the fund, out of 165 in all.
The short version
First Trust Lunt U.S. Factor Rotation ETF (FCTR) tracks the Lunt Capital Large Cap Factor Rotation Index. Each month, that index picks four of eight baskets of large U.S. stocks, each built around a trait like momentum or low volatility, and rotates among them. That makes it far busier than a plain index fund, with portfolio turnover of 371%. Its 0.65% expense ratio is the highest among similar funds, which average 0.36%.
Price history
The interactive chart needs JavaScript.
FCTR -2.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FCTR official prospectus, to Dec 31, 2025 | — | +8.47% | — | +4.74% | — | +8.85% |
| FCTR price data to Oct 27, 2026 | -0.2% | -2.5% | +16.8% | +1.0% | — | +7.8% |
- Over the year to Oct 27, 2026, FCTR returned -2.5%, 7th of 8 among similar funds.
- Its 5-year annualized return was +1.0%.
- In the 2020 COVID crash it fell 35.9% and regained its old high 2.4 months after the low.
- Its worst full calendar year was 2022 (-20.4%); its best was 2019 (+30.9%).
- The deepest fall in its price history was 37.1% (Nov 16, 2021 to Oct 27, 2023), recovered by Feb 18, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -0.2% | — |
| 2025 | +8.7% | +8.47% |
| 2024 | +19.5% | +19.60% |
| 2023 | +0.7% | +0.68% |
| 2022 | -20.4% | -20.37% |
| 2021 | +21.1% | +21.22% |
| 2020 | +30.2% | +30.02% |
| 2019 | +30.9% | +30.35% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 35.9% over that stretch · deepest drop along the way 35.9%, back to its old high 2.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 22.5% over that stretch · deepest drop along the way 25.4%, back to its old high 25.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2100 | |
| 2025 | $0.1100 | -59.3% |
| 2024 | $0.2700 | -3.6% |
| 2023 | $0.2800 | -26.3% |
| 2022 | $0.3800 | +123.5% |
| 2021 | $0.1700 | +28.8% |
| 2020 | $0.1320 | -42.6% |
| 2019 | $0.2300 |
What's inside
As of Jun 30, 2026, the fund held 165 securities; the ten largest made up 18.11% of assets.
| Holding | Weight | |
|---|---|---|
| CENTENE CORP | 3.20% | |
| HUMANA INC | 2.24% | |
| AXON ENTERPRISE INC | 2.05% | |
| BLOOM ENERGY CORP | 1.84% | |
| SUPER MICRO COMPUTER INC | 1.77% | |
| CREDO TECHNOLOGY GROUP HOLDING LTD | 1.53% | |
| INTEL CORP | 1.53% | |
| FAIR ISAAC CORP | 1.36% | |
| FLUTTER ENTERTAINMENT PLC | 1.33% | |
| MARVELL TECHNOLOGY INC | 1.26% | |
| ZSCALER INC | 1.26% | |
| ON SEMICONDUCTOR CORP | 1.25% | |
| MICRON TECHNOLOGY INC | 1.23% | |
| INTERNATIONAL PAPER COMPANY | 1.20% | |
| MICROCHIP TECHNOLOGY INC | 1.15% |
By country
United States 91.61%Ireland 3.15%Cayman Islands 1.98%Netherlands 1.01%Switzerland 0.98%By asset type
Stocks 99.94%By sector
Sectors of the companies held, for the 69% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.99%, +6.42%, +1.61%.
How it works
FCTR aims to track the Lunt Capital Large Cap Factor Rotation Index. Lunt Capital Management owns the index, and Nasdaq calculates it. The fund normally keeps at least 90% of its assets in the index's stocks. The index starts with the Nasdaq US 500 Large Cap Index and four "factors," which are traits linked to how stocks behave. Momentum means recent price strength. Value means a low price relative to book value, sales and earnings. Quality looks at earnings, margins, sales growth and return on equity. Volatility measures how much a price swings. Each factor has two 50-stock sub-indices: one holds the stocks with the highest levels of the trait, and the other holds the stocks with the lowest.
Each month, Lunt's own model picks four of these eight sub-indices. If it picks the same four, nothing changes. If a sub-index is dropped, its weight is split equally among the new ones, and the sub-indices that stay keep their weights. Within each sub-index, a stock's weight depends on its factor score. Because the model can choose a "laggard" basket, the fund may deliberately own weak-momentum or high-volatility stocks.
The index held 172 stocks as of March 31, 2026. As of June 30, 2026, the fund held 165 stocks and no derivatives. Its largest holdings were Centene (3.2%), Humana (2.2%) and Axon Enterprise (2.1%), and the top 10 made up 18.1% of the fund. The monthly changes drive the 371% turnover, and trading costs come on top of the expense ratio.
What it really costs
- FCTR charges 0.65% a year, versus an average of 0.36% for the similar funds below (8th of 8, cheapest first).
In a retirement portfolio
FCTR swings more than the market, turns over its holdings heavily and pays little income, so it fits better as a small add-on than as a foundation.
FCTR adds a rules-based tilt toward whichever investing styles Lunt's model favors, but it has moved more than the market: its one-year beta, a measure of how much it moves relative to the market, was 1.17 as of October 27, 2026. It fell 35.9% in the 2020 COVID crash and recovered in about 2.4 months. In the 2022 bear market it dropped 25.4% and needed 25.5 months after its low to recover. Its deepest drop was 37.1%, from November 2021 to October 2023, and it didn't fully recover until February 2025. Its worst calendar year was 2022, at -20.37%. The fund launched in 2018, so it has no 2008 record. Anyone forced to sell in a slump like these could lock in losses. Income is small: a 0.59% yield as of October 27, 2026, paid twice a year. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a rules-based fund that rotates among momentum, value, quality and volatility stock baskets instead of choosing one style themselves.
- People holding a small, higher-risk slice who can live with a 1.17 beta and a past 37.1% peak-to-trough drop.
- Investors comfortable with 371% turnover and big shifts in holdings, such as health insurers Centene and Humana leading as of June 30, 2026.
Look elsewhere if
- Cost-focused investors: the 0.65% expense ratio ranks 8th of 8 among similar funds, while RSP charges 0.20% and GSEW 0.09%.
- Retirees seeking regular income: the yield was 0.59% as of October 27, 2026, and payments come only twice a year.
- Those wanting a large fund with a strong recent record: net assets were about $57 million (June 30, 2026), and one-year returns ranked 7th of 8.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| FCTR this fund | — | 0.65% | $57.2M | -2.5% | +16.8% |
| FEX First Trust Large Cap Core AlphaDEX Fund | 34% | 0.58% | $1.57B | +17.4% | +22.9% |
| GSEW Goldman Sachs Equal Weight U.S. Large Cap E… | 31% | 0.09% | $2.08B | +13.5% | +21.4% |
| RSP Invesco S&P 500® Equal Weight ETF | 27% | 0.2% | $96.47B | +18.9% | +18.3% |
| ALTL Pacer Lunt Large Cap Alternator ETF | 27% | 0.6% | $92.1M | -7.8% | +10.7% |
| CFA VictoryShares US 500 Volatility Wtd ETF | 24% | 0.35% | $533.5M | +11.2% | +17.3% |
| FTC First Trust Large Cap Growth AlphaDEX Fund | 22% | 0.58% | $1.32B | +6.4% | +24.5% |
| USXF iShares ESG Advanced MSCI USA ETF | 22% | 0.1% | $1.48B | +14.9% | +27.7% |
Questions investors ask
What does FCTR invest in?
FCTR holds large U.S. stocks chosen by the Lunt Capital Large Cap Factor Rotation Index. Each month, the index picks four of eight 50-stock baskets drawn from the Nasdaq US 500 Large Cap Index. Each basket is built on high or low momentum, value, quality or volatility. As of June 30, 2026, the fund held 165 stocks. The largest were Centene, Humana, Axon Enterprise, Bloom Energy and Super Micro Computer, and the top 10 made up 18.1% of assets.
Is FCTR good for retirement?
It may suit a small, higher-risk part of a retirement portfolio more than a core role. It fell 35.9% in early 2020 and 25.4% in 2022, and it took 25.5 months to recover after the 2022 low. Its deepest drop was 37.1%. The yield was only 0.59% as of October 27, 2026, and the 0.65% fee is above the 0.36% average of similar funds. Past results don't predict future ones.
What's the difference between FCTR and FEX?
Both are First Trust large-cap stock ETFs. They share about 34% of their holdings, the most of any fund compared. FCTR follows Lunt's factor-rotation index, while FEX, the First Trust Large Cap Core AlphaDEX Fund, uses a different selection method. FEX charges 0.58% versus FCTR's 0.65%. It is also much larger, at about $1.57 billion as of July 31, 2026. As of October 27, 2026, FEX returned 17.4% over one year, while FCTR returned -2.5%.
Does FCTR pay dividends?
Yes, but the payments are small and come twice a year. Over the 12 months to October 27, 2026, FCTR paid about $0.21 per share, a yield of 0.59%. The fund picks stocks by traits like momentum, value, quality and volatility, not by dividends. Investors who want steady income from stocks may want to compare it with funds built around dividend payers.
How has FCTR performed?
Its results have been uneven. According to its prospectus, FCTR returned 8.47% in 2025, 4.74% a year over five years and 8.85% a year since its 2018 launch, all through December 31, 2025. Calendar years ranged from 30.35% in 2019 to -20.37% in 2022. Based on price, it returned -2.5% over the year to October 27, 2026, which ranked 7th of 8 among similar funds.