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Upturn AI SWOT - About
First Trust California Municipal High Income ETF (FCAL)
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Upturn Advisory Summary
08/14/2025: FCAL (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit -2.91% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 08/14/2025 |
Key Highlights
Volume (30-day avg) - | Beta 0.87 | 52 Weeks Range 46.06 - 49.60 | Updated Date 06/29/2025 |
52 Weeks Range 46.06 - 49.60 | Updated Date 06/29/2025 |
Upturn AI SWOT
First Trust California Municipal High Income ETF
ETF Overview
Overview
The First Trust California Municipal High Income ETF (FTAH) seeks to provide current income exempt from federal and California state income taxes by investing primarily in California municipal bonds.
Reputation and Reliability
First Trust is a well-established and reputable ETF provider with a long track record in the financial industry.
Management Expertise
First Trust has experienced portfolio managers and analysts specializing in fixed-income investments, specifically municipal bonds.
Investment Objective
Goal
To seek current income exempt from federal and California state income taxes.
Investment Approach and Strategy
Strategy: Actively managed portfolio of California municipal bonds.
Composition Primarily California municipal bonds, with a focus on high-yield and lower-rated securities.
Market Position
Market Share: Data Unavailable
Total Net Assets (AUM): 123000000
Competitors
Key Competitors
- VENC
- HYMB
- CXHE
Competitive Landscape
The California municipal bond ETF market includes a variety of funds focusing on different credit quality and maturity profiles. FTAH competes by focusing on higher-yielding, potentially riskier, California municipal bonds. Its advantages include potentially higher income, while its disadvantages include higher volatility and credit risk compared to more conservative competitors.
Financial Performance
Historical Performance: Data Unavailable
Benchmark Comparison: Data Unavailable
Expense Ratio: 0.009
Liquidity
Average Trading Volume
The average trading volume of FTAH indicates moderate liquidity, allowing investors to buy and sell shares reasonably efficiently.
Bid-Ask Spread
The bid-ask spread indicates the cost of trading; a narrower spread signifies higher liquidity and lower transaction costs.
Market Dynamics
Market Environment Factors
Economic conditions in California, interest rate movements, and changes in tax laws can significantly impact the performance of California municipal bonds and FTAH.
Growth Trajectory
FTAH's growth trajectory is influenced by investor demand for tax-exempt income and the overall health of the California municipal bond market. The ETF's strategy and holdings may be adjusted to reflect changing market conditions.
Moat and Competitive Advantages
Competitive Edge
FTAH's competitive edge lies in its focus on higher-yielding California municipal bonds, which appeals to investors seeking enhanced income. The active management approach allows for strategic security selection and risk management. First Trust's experience in fixed-income investing also contributes to the fund's competitive positioning. However, this strategy comes with increased risk and potentially higher volatility compared to more diversified or investment-grade-focused ETFs.
Risk Analysis
Volatility
Data Unavailable
Market Risk
FTAH is subject to interest rate risk (rising rates can decrease bond values), credit risk (issuers may default), and concentration risk (focused on California municipal bonds).
Investor Profile
Ideal Investor Profile
The ideal investor is a high-net-worth individual residing in California who is seeking tax-exempt income and is comfortable with a higher level of risk than traditional municipal bond funds.
Market Risk
FTAH is best suited for long-term investors seeking income and who understand the risks associated with high-yield municipal bonds. It is less suitable for risk-averse investors or those seeking capital preservation.
Summary
The First Trust California Municipal High Income ETF (FTAH) offers tax-exempt income by investing in California municipal bonds, targeting higher yields through active management. This focus makes it attractive to California residents seeking to minimize state and federal taxes on their investment income. However, the ETF's emphasis on higher-yielding bonds exposes investors to greater credit risk and price volatility. It is suitable for investors comfortable with these risks and seeking a potentially higher income stream than more conservative alternatives.
Peer Comparison
Sources and Disclaimers
Data Sources:
- First Trust Website
- ETF.com
- Morningstar
Disclaimers:
The data provided is for informational purposes only and should not be considered investment advice. Market share data is based on available information and may not be fully accurate.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About First Trust California Municipal High Income ETF
Exchange NASDAQ | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The fund seeks to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes and California income taxes. It will invest no more than 50% of its net assets in Municipal Securities that are, at the time of investment, not investment grade, commonly referred to as high yield or junk bonds.
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