FTSL vs UCON: Holdings Overlap
FTSLFirst Trust Senior Loan Fund
First Trust · 282 holdings · $2.3B · as of 2026-04-30
UCONFirst Trust Smith Unconstrained Bond ETF
First Trust · 504 holdings · $3.3B · as of 2026-05-31
Holdings snapshots are 31 days apart (FTSL: 2026-04-30, UCON: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are FTSL and UCON?
First Trust Senior Loan Fund (FTSL, by First Trust) holds 282 positions; First Trust Smith Unconstrained Bond ETF (UCON, by First Trust) holds 504. They have 8 holdings in common, and by portfolio weight the two funds are 1.1% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 8FTSL holds 282 · UCON holds 504
- Weight in Shared Holdings
- FTSL 2%·UCON 1%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in FTSL
274 of 282 positions (93.6% of the fund) are not held by UCON. Showing the top 30 by weight.
- WHATABRANDS LLC 08/03/282.04%
- ATHENAHEALTH GR 02/14/291.80%
- IRB Holding Corp., Term Loan B1.59%
- WHITE CAP BUYER 10/19/291.30%
- TRANSDIGM INC T 03/22/301.24%
- TAMKO BUILDING 09/20/301.24%
Only in UCON
496 of 504 positions (97.2% of the fund) are not held by FTSL. Showing the top 30 by weight.
- U.S. Treasury Notes/Bonds2.33%
- U.S. Treasury Bonds2.13%
- U.S. Treasury Bonds2.12%
- U.S. Treasury Notes1.69%
- U.S. Treasury Notes1.18%
- U.S. Treasury Notes/Bonds1.04%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FTSL | +0.8% | +1.5% | +4.0% | +6.8% | +5.2% | +4.4% | 6.36% |
| UCON | -0.1% | +0.7% | +3.7% | +5.5% | +2.7% | — | 4.72% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in FTSL vs UCON →
Shared Holdings(8)
The top 8 shared positions account for 100% of the overlap, led by Raising Cane's Restaurants Term Loan B (Incremental) 200 2032-10-18, Neptune Bidco US, Inc. and PetSmart LLC / PetSmart Finance Corp.
| Raising Cane's Restaurants Term Loan B (Incremental) 200 2032-10-18 | 0.47% | 0.49% | 0.47% |
|---|---|---|---|
| Neptune Bidco US, Inc. | 0.25% | 0.25% | 0.25% |
| PetSmart LLC / PetSmart Finance Corp | 0.10% | 0.48% | 0.10% |
| Electronic Arts Term Loan B 350 2033-03-14 | 0.31% | 0.06% | 0.06% |
| TDG TL N 1L USD 02/10/33 | 0.10% | 0.06% | 0.06% |
| Jane Street Group / JSG Finance Inc. | 0.12% | 0.06% | 0.06% |
| Rocket Cos., Inc. | 0.29% | 0.05% | 0.05% |
| TransDigm, Inc. | 0.13% | 0.02% | 0.02% |
Frequently Asked Questions
How much do FTSL and UCON overlap?
FTSL and UCON overlap by 1.1% of portfolio weight. They share 8 holdings (FTSL holds 282 positions and UCON holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FTSL and UCON?
The two portfolios are 1.1% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of FTSL and UCON?
The largest positions held by both funds are Raising Cane's Restaurants Term Loan B (Incremental) 200 2032-10-18, Neptune Bidco US, Inc., PetSmart LLC / PetSmart Finance Corp, Electronic Arts Term Loan B 350 2033-03-14 and TDG TL N 1L USD 02/10/33. Together the top 8 shared positions account for 100% of the total overlap.
What does FTSL own that UCON doesn't?
274 positions (93.6% of FTSL) are unique to FTSL, led by WHATABRANDS LLC 08/03/28, ATHENAHEALTH GR 02/14/29 and IRB Holding Corp., Term Loan B. In the other direction, 496 positions (97.2% of UCON) are unique to UCON.