FTLS - FTLS: Reiterate Buy Recommendation On Excellent Results

2024-05-17 14:38:51 ET

Summary

• First Trust Long/Short Equity ETF uses earnings quality to pick stocks to go long and short.
• FTLS has delivered hedge fund-like performance at mutual fund-like fees.
• In a market defined by higher interest rates, companies with good earnings momentum are vastly outperforming those without, which benefits FTLS.
• With valuations near all-time highs, I recommend investors turn more defensive, and the FTLS is an excellent vehicle to do so.

A few months ago, I wrote a bullish article on the First Trust Long/Short Equity ETF ( FTLS ), noting it outperformed higher-cost hedge fund peers on a risk-adjusted return basis while charging mutual fund-like fees....

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