First TrustUS Stock StylesSmall Cap#401 of 702 by YTD

First Trust Multi-Manager Small Cap Opportunities ETFMMSC

S&P 500 Compare

$26.59+4.3%

+$1.10 · Nov 9 close

Buy

AUM: $50M
Fee: 0.95%
Yield: 0.0%

Bumpy · 1Y: 1.8×S&P
Volume: 3K
NAV: $25.53

What's insideAll 199 →

XMTR 2.1%FROG 1.7%ZETA 1.5%VRNS 1.4%

52-week range10% below the high

$22.18$29.62

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	+4.3%	+1.8%	−1.0%	−7.2%	+11.1%	+12.5%	+82.0%	+22.3%	+29.7%
Peer average	+2.7%	+0.2%	+2.1%	−3.5%	+17.2%	+21.2%	+64.8%	+35.1%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

MMSC in One Breath

MMSC Among Small Cap ETFs

YTD

#1SFLOVictoryShares+32.5%$874M

#2CALFPacer+30.8%$3.8B

#3CAFGPacer+29.2%$44.1M

#4MYLDCambria Funds+27.8%$53.4M

#5FYTFirst Trust+27.7%$175M

#6TCVTowle+27.3%$198M

#7SVALiShares+25.3%$158M

#8FYXFirst Trust+25.1%$1.4B

#84MMSCFirst Trust+11.1%$49.8M

End-of-day Nov 9, 2026 · 97 Small cap ETFs by YTD

$10,000 in MMSC

$10,000 in MMSC became

$12,231

In the S&P 500 (VOO)

$17,543

Total return, dividends in · Nov 1, 2021 – Nov 9, 2026 · S&P 500 uses VOO

MMSC’s Top Holdings

Today

XMTRXometry, ()2.1%FROG1.7%ZETA1.5%VRNS1.4%OLLI1.3%FCFS1.3%TVTX1.3%GH1.3%SYRE1.3%RGEN1.2%NTSK1.2%SAIL1.2%PTGX1.2%LGND1.1%TWST1.1%EXEL1.0%RBRK1.0%MANH1.0%EWTX0.9%HALO0.9%WING0.9%GKOS0.9%

XMTRXometry, ()2.1%FROG1.7%ZETA1.5%VRNS1.4%OLLI1.3%FCFS1.3%TVTX1.3%GH1.3%SYRE1.3%RGEN1.2%NTSK1.2%SAIL1.2%

HealthcareTechnologyIndustrialsConsumer CyclicalFinancial ServicesOther

First Trust MMSC · 200 holdings · top 22 shown · tile size = share of the fund · as of Nov 9, 2026

What MMSC Holds

Today

Healthcare27.1%

TVTX 1.3 · GH 1.3 · SYRE 1.3 · RGEN 1.2 · PTGX 1.2 · LGND 1.1 · TWST 1.1

Technology25.8%

FROG 1.7 · ZETA 1.5 · VRNS 1.4 · NTSK 1.2 · SAIL 1.2 · RBRK 1.0 · MANH

Industrials16.3%

XMTR 2.1 · VSEC · KRMN · RBC · DRS · FLYW · MMS

Consumer Cyclical10.2%

WING · LTH · FWRG · VSXY · FIVE · BOOT · ANDG

Financial Services9.3%

FCFS 1.3 · EZPW · ECPG · VIRT · AAMI · PIPR · WT

Energy4.7%

MGY · VNOM · FTI · TDW

Consumer Defensive3.5%

OLLI 1.3 · CHEF · ELF

First Trust MMSC · share of the fund by sector · as of Nov 9, 2026

Xometry,’s Share of MMSC

Today

2.1%

$21 of every $1,000 in MMSC is Xometry,

Xometry, held by MMSC

$1.1M

Most Xometry, per dollar

PRNT5.1%

CTAG3.2%

PCSG2.3%

MMSC2.1%

First Trust MMSC · each square = $10 of $1,000 · as of Nov 9, 2026

MMSC’s Share of Small Cap ETFs

Today

0.0%

of the $574B in 111 Small cap ETFs

MMSC$49.8M0.0%

IJR$104B18.1%

VB$76.9B13.4%

108 others$393B68.5%

Small cap ETF AUM · Nov 9, 2026

MMSC Fee per $100 vs Peers

Today

$0.95a year
per $100

$95 a year on $10,000

VB$0.03

VBR$0.05

IJR$0.06

IWM$0.19

DFAS$0.30

MMSC$0.95

Expense ratio · Small cap peers · Nov 9, 2026

Inside MMSC

200 holdings · as of Nov 9, 2026

MMSC

First Trust Multi-Manager Small Cap Opportunities ETF

Today

#	Ticker	Company	Weight ▼
1	XMTR	Xometry, ()	2.13%
2	FROG	JFrog	1.74%
3	ZETA	ZETA Global ()	1.52%
4	VRNS	Varonis Systems	1.37%
5	OLLI	Ollie's Bargain Outlet	1.30%
6	FCFS	FirstCash	1.29%
7	TVTX	Travere Therapeutics	1.29%
8	GH	Guardant Health	1.26%
9	SYRE	Spyre Therapeutics	1.26%
10	RGEN	Repligen	1.22%

See all 199 holdings ↓

HealthcareTechnologyIndustrialsConsumer CyclicalFinancial ServicesEnergyConsumer DefensiveBasic MaterialsCommunication ServicesReal Estate

First Trust MMSC · current holdings by weight · as of Nov 9, 2026 · each tile is one holding · top 20 = 25.0%

All MMSC Holdings

199 holdings · as of Nov 9, 2026

MMSC

MMSC’s Holdings

Today

#
1	—US Dollar	—	2.29%	$228.54	1.1M	$1.1M
2	XMTRXometry, ()	Industrials	2.13%	$213.45	9,262	$1.1M
3	FROGJFrog	Technology	1.74%	$174.41	8,615	$870K
4	ZETAZETA Global ()	Technology	1.52%	$151.69	24K	$757K
5	VRNSVaronis Systems	Technology	1.37%	$137.05	14K	$684K
6	OLLIOllie's Bargain Outlet	Consumer Defensive	1.30%	$129.88	7,166	$648K
7	FCFSFirstCash	Financial Services	1.29%	$128.58	3,454	$641K
8	TVTXTravere Therapeutics	Healthcare	1.29%	$128.57	13K	$641K
9	GHGuardant Health	Healthcare	1.26%	$126.29	4,175	$630K
10	SYRESpyre Therapeutics	Healthcare	1.26%	$125.83	6,043	$628K
11	RGENRepligen	Healthcare	1.22%	$121.60	3,496	$607K
12	NTSKNetskope, ()	Technology	1.20%	$119.76	28K	$597K
13	SAILSailPoint	Technology	1.16%	$116.47	30K	$581K
14	PTGXProtagonist Therapeutics	Healthcare	1.16%	$116.24	4,391	$580K
15	LGNDLigand Pharmaceuticals ()	Healthcare	1.14%	$113.69	1,852	$567K

First Trust MMSC · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 9, 2026

How It Compares

MMSC

First Trust Multi-Manager Small Cap Opportunities ETF’s Peers

Today


IJR	iSharesRead Desk	0.06%	+3.0%	+22.8%	$103.8B
VB	VanguardRead Desk	0.03%	+3.1%	+19.2%	$76.9B
IWM	iSharesRead Desk	0.19%	+3.2%	+18.7%	$76.6B
VBR	VanguardRead Desk	0.05%	+2.6%	+24.0%	$35.1B
DFAS	DimensionalRead Desk	0.30%	+3.0%	+20.9%	$33.7B
MMSC	First TrustThis fundRead Desk	0.95%	+4.3%	+12.5%	$50M

Small cap peers · Today’s and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put MMSC head to head with IJR →

IJR vs MMSC

YTD

IJRiShares · Small capMMSCFirst Trust · Small cap

Year to date

+18.9%

+11.1%

IJR wins+7.8 pts

Past year

+22.8%

+12.5%

IJR wins+10.3 pts

Fee

0.06%

0.95%

IJR winslower fee

Yield

1.2%

0.0%

IJR wins+1.2 pts

AUM

$104B

$49.8M

IJR2085.8× more

4–0IJR wins

iShares IJR and First Trust MMSC · year-to-date · as of Nov 10, 2026 · AUM not scored

MMSC vs VOO

YTD

MMSC · First Trust Multi-Manager Small Cap Opportunities

+11.1%

VOO · S&P 500

+11.3%

Gap

0.2 pts

First Trust MMSC and Vanguard VOO · Today total return · as of Nov 10, 2026

MMSC vs Its Peer Average

YTD

MMSCAvsBPeer average

1D+4.3%+2.7%

1M−1.0%+2.1%

3M−7.2%−3.5%

YTD+11.1%+17.2%

1Y+12.5%+21.2%

3Y+82.0%+64.8%

5Y+22.3%+35.1%

2–5Peer average wins

110 Small cap peers · each row scaled to its leader

How Bumpy Is MMSC?

View

MMSC

How Bumpy

1.8×the S&P 500’s swings

CalmerBumpierS&P 1×MMSC

Bumpiest of 7 small cap fundsMMSC

Other small cap funds1.1× to 1.4×

First Trust MMSC · daily swings over the past year vs the S&P 500

MMSC

Worst Drop

−15.3%from its Jun 30 high

Still below the high−10.0%

$10,000 at the high is now$9,000

First Trust MMSC · fall from the highest close, past year

MMSC

On a Bad Day

1.7×the S&P 500’s fall

MMSC’s worst day: Thursday, Nov 5

MMSC

−5.6%

S&P 500

−4.4%

Up days55 of every 100

S&P 500 up days52 of every 100

First Trust MMSC · average move on days the S&P 500 fell

MMSC

Return for the Bumps

1Y#7 of 7 small cap funds

#1AVUVAvantis

most for the bumps

#2VBRVanguard

calmest ride

#3IJRiShares

#4DFASDimensional

#5VBVanguard

#6IWMiShares

#7MMSCFirst Trust

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

MMSC

Cost

Today

$95a year per $10,000

VBR

IJR

IWM

$19

AVUV

$25

DFAS

$30

MMSC

$95

Expense ratio 0.95%, taken from the fund’s value

MMSC

Volatility & Beta

24.9%annual volatility

S&P 500 volatility13.7%

Downside volatility17.7%

Beta vs SPY1.51

Correlation vs SPY0.83

Beta rank, lowest first, of 7#7

Daily total returns × √252 · past 254 trading days

MMSC

Max Drawdown

−15.3%peak to trough

Peak closeJun 30, 2026

Current drawdown−10.0%

Worst day−5.61% · Nov 5

Closing prices, dividends in

MMSC

Up / Down Capture

167%down capture vs SPY

Down days

167%

Up days

159%

S&P 500

100%

Up ÷ down capture0.95

Up days55.1% (S&P 52.4%)

Average daily move on SPY up days and down days

MMSC

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
AVUV	1.62	2.56	15.3%	−8.2%	0.71	$25
VBR	1.39	2.17	14.4%	−8.9%	0.74	$5
IJR	1.17	1.80	16.5%	−9.7%	0.92	$6
DFAS	1.07	1.64	16.0%	−9.4%	0.92	$30
VB	0.91	1.35	16.5%	−9.0%	1.01	$3
IWM	0.77	1.12	18.9%	−11.1%	1.14	$19
MMSC	0.31	0.44	24.9%	−15.3%	1.51	$95

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

MMSC

Trading

Today

[…]premium / discount: the NAV on file is from an earlier day

Close$26.59

NAV$25.53

Fee per $10,000$95 a year

Avg. volume 30D7K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 9

The Details

MMSC

Fund Facts

Today

2021launched Oct 13

Tracks[…]

Exchange · CUSIPAMEX · 33740U794

StructureETF

Leverage1x

Cost on $10,000$95 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

First Trust MMSC · fund facts · as of Nov 10, 2026

MMSC

Payouts by Year

$0.0854per share, Dec 2024

Distribution yield0.0%

Paid[…]

Latest ex-date · paidDec 13 · Dec 31, 2024

1 payouts added up$0.0854 a share

First Trust MMSC · distributions by ex-date · 2024–2024

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-08-31 ↗SEC reported portfolio · 2026-05-31 ↗SEC reported portfolio · 2026-02-28 ↗SEC reported portfolio · 2025-11-30 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-08-31 ↗

Trading & Liquidity

Net asset value$25.53

Premium / discount[…]

Median spread · 30D[…]

Volume today3K

Average volume · 30D7K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.95%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$95.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Dec 13, 2024	Dec 31, 2024	$0.0854

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