HYLS – First Trust Tactical High Yield ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks current income; capital appreciation is the secondary objective. Under normal market conditions, the fund invests at least 80% of its net assets (including investment borrowings) in high yield debt securities that are rated below investment grade at the time of purchase or unrated securities deemed by the fund's advisor to be of comparable quality.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
HYLS	First Trust Tactical High Yield ETF	ETF	Open			Feb 25, 2013	$1.57B	0.690%	—	—	−$105.68M

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