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Upturn AI Summary
First Trust Long/Short Equity ETF(FTLS)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for FTLS
10/08/2026: FTLS (2-star) has a low Upturn Star Rating. Not recommended to BUY.
FTLS is an actively managed long/short equity ETF that seeks to capture alpha while hedging market risk. Its primary strength lies in First Trust’s disciplined management and its ability to pivot exposure in various market regimes. It is best used as a satellite holding to lower portfolio volatility rather than a core index replacement. Investors should be mindful of the higher expense ratio and potential tax implications of active trading. It is most appropriate for sophisticated investors who want equity participation with a layer of downside protection.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The hedged nature of the fund may limit upside capture during strong bull markets. |
| Momentum investor | Strong fit while signal remains positive | Active management allows for the dynamic adjustment of positions based on changing momentum signals. |
| Value investor | Mixed fit | While it uses fundamental analysis, the strategy focuses more on relative performance than traditional value metrics. |
| Dividend/Income investor | Weak fit | The fund is primarily structured for capital appreciation and hedging rather than income generation. |
| Low-risk investor | Mixed fit | It aims to reduce market risk, but the use of short positions introduces distinct volatility and leverage risks. |
Investor Profile
Ideal Investor Profile
Investors seeking an equity-linked product that can perform in uncertain or volatile markets rather than purely growth-oriented buyers.
Suitability
Best suited for intermediate to long-term investors looking for tactical portfolio diversification.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium | The strategy is designed to dampen, but not eliminate, market-related price swings. |
| Market risk | Medium | Even with short positions, the fund remains sensitive to overall equity market movements. |
| Concentration | Low | The fund maintains a diversified portfolio, limiting the impact of any single security. |
| Tracking/expense | Medium | The higher expense ratio requires the manager to generate sufficient alpha to outperform passive alternatives. |
| Liquidity | Low | The underlying assets are generally large-cap and highly liquid, reducing transaction costs. |
| Business/sector quality | Medium | Active picking exposes the fund to the quality and fundamental performance of chosen companies. |
Risk Analysis
Volatility
FTLS generally exhibits lower historical volatility than the S&P 500, as the short positions act as a partial hedge.
Market Risk
The fund carries systemic market risk, though it is mitigated by its ability to hold net long or neutral exposure depending on market conditions.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Long Equity | Diversified US Large-Cap Equities (Long Positions) | 100 | The long portion seeks to capture growth and alpha from a diversified basket of US stocks. |
| Short Equity | Diversified US Large-Cap Equities (Short Positions) | -50 | Short positions are employed to hedge market exposure and profit from potential downside in selected stocks. |
| Cash/collateral | 50 | Cash and high-quality liquid assets are held to support margin requirements for short positions. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit 34.07% | Avg. Invested days 72 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  4.0 | ETF Returns Performance  5.0 |
| Profits based on simulation | Last Close 10/08/2026 |
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