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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
11/06/2026: FTLS (1-star) is a SELL. SELL for 4 days. Simulated Profits (2.09%). Updated daily EoD!
FTLS is an actively managed ETF that seeks capital appreciation by holding a mix of long equity positions and short equity or index derivative positions to manage market exposure. Its primary strength lies in its ability to provide a systematic, liquid alternative to traditional hedge fund strategies, helping to dampen volatility during market downturns. The fund is best suited as a portfolio diversifier for investors looking to balance growth with downside risk mitigation. Key risks include higher expense ratios compared to passive funds and potential underperformance in strong bull markets due to the cost of hedging. Investors should monitor the fund’s net market exposure and its effectiveness in capturing stock-specific alpha.
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 | While it captures long-side growth, the short component may drag on total returns during strong bull markets. |
| Momentum investor | Strong fit while signal remains positive | Quantitative screening processes often align well with momentum-based strategies when markets are trending. |
| Value investor | Mixed fit | The fund focuses more on relative performance than pure fundamental value, though shorting overvalued stocks aligns with value principles. |
| Dividend/Income investor | Weak fit | The fund is designed for capital appreciation and hedging, not for generating consistent dividend income. |
| Low-risk investor | Mixed fit | The hedged structure reduces volatility compared to pure equity, but it remains exposed to stock-specific risk. |
Investor Profile
Ideal Investor Profile
Sophisticated retail or institutional investors seeking to reduce overall portfolio equity risk without exiting the market entirely.
Suitability
Best suited for long-term investors looking to hedge core equity holdings rather than active daily traders.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium | The hedging strategy is designed to dampen, but not eliminate, market volatility. |
| Market risk | Medium | While hedged, the portfolio maintains net long exposure that remains sensitive to market direction. |
| Concentration | Low | The portfolio is generally diversified across numerous equity positions to mitigate single-stock risk. |
| Tracking/expense | High | Active management and derivative costs result in a higher expense ratio than passive index ETFs. |
| Liquidity | Low | The fund holds liquid large and mid-cap stocks, presenting minimal liquidity risk for most investors. |
| Business/sector quality | Medium | The fund's performance is tied to the management team's ability to identify both winners and losers. |
Risk Analysis
Volatility
FTLS exhibits lower volatility than pure long-only equity funds due to its hedging component.
Market Risk
The fund retains significant market risk as it is not market-neutral, meaning performance is still influenced by the net beta of the long/short portfolio.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Market capitalization | U.S. Large-Cap and Mid-Cap Equities (Long positions) | 100 | The long side of the portfolio provides exposure to a broad selection of equity securities expected to outperform. |
| Derivatives | Equity Index Short Positions / Swaps | -40 | Short positions are used to hedge the portfolio against broad market declines and reduce net market beta. |
| Cash/collateral | Cash and Cash Equivalents | 40 | Cash balances are maintained to manage margin requirements for short positions and liquidity needs. |
Analysis of Past Performance
Type ETF | Historic Profit 33.65% | Avg. Invested days 84 | Today’s Advisory SELL |
Upturn Advisory Rating  | Upturn Advisory Performance  5.0 | ETF Returns Performance  5.0 |
| Profits based on simulation | Last Close 11/06/2026 |
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