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HISF First Trust High Income Strategic Focus ETF

Covered call on SPY, paying monthly

Over the year to Sep 11, 2026, HISF paid 4.9% in cash and still finished 17.3 points behind SPY.

First Trust · Income ETFs · data as of

Key facts

4.9%Cash paid, 1 year, on its starting price
+0.3%Total return, 1 year
−17.3 ptsAgainst SPY
5.0%Latest payout, annualized

Method

ETFIQ Return Stability Score

24.3140th of 161

HISF paid 4.9% in cash. Its price fell 4.7%, so 96% of what you were paid came back out of your own capital.

Was the payout funded by returns, or by your own capital?

Against its benchmark
MLPD −38.1 ptsMDST −30.2 ptsSLTY −29.1 ptsBLOX −27.8 ptsEIPI −27.8 ptsYQQQ −27.6 ptsULTY −23.3 ptsGDXY −22.0 ptsHIGH −20.8 ptsTOPW −18.6 ptsTDVI −18.3 ptsYMAX −18.1 ptsACKY −17.2 ptsWEEI −16.9 ptsNDIV −16.6 ptsLQDW −16.2 ptsOARK −15.8 ptsFDND −15.5 ptsTCAL −15.0 ptsQRMI −14.8 ptsSDVD −14.8 ptsLFGY −14.5 ptsSLJY −14.5 ptsSCLZ −14.1 ptsYFYA −13.9 ptsQUSA −13.5 ptsHYGW −13.0 ptsJULH −13.0 ptsXLRI −13.0 ptsMAGY −12.9 ptsYYY −12.7 ptsXLKI −12.6 ptsJULJ −12.4 ptsLJUL −12.4 ptsJANJ −12.3 ptsLJAN −12.3 ptsFGSI −12.2 ptsLOCT −12.1 ptsRNTY −12.1 ptsAIPI −12.0 ptsIWMY −12.0 ptsOCTJ −11.9 ptsHIPS −11.7 ptsJUCY −11.6 ptsXLEI −11.6 ptsAPRJ −11.3 ptsLAPR −11.3 ptsXISE −11.3 ptsXIJN −11.1 ptsCVRD −11.0 ptsJANH −11.0 ptsAPRH −10.9 ptsXBTY −10.7 ptsXIDE −10.7 ptsOCTH −10.6 ptsJEPI −10.3 ptsXIMR −10.1 ptsSRHR −9.7 ptsXRMI −8.7 ptsVEGA −8.3 ptsBUYW −8.2 ptsIAUI −7.9 ptsBAGY −7.7 ptsXV −7.5 ptsKHPI −7.3 ptsYBTC −7.3 ptsFTHI −7.0 ptsYLDE −6.8 ptsIGLD −6.1 ptsQQQI −6.1 ptsRDVI −6.0 ptsSPIN −5.9 ptsFEPI −5.8 ptsIWMW −5.8 ptsTYLG −5.7 ptsBITY −5.6 ptsSPUT −5.4 ptsWTPI −5.2 ptsPAPI −4.7 ptsXLVI −4.7 ptsETCO −4.3 ptsJEPQ −4.1 ptsCAIE −4.0 ptsFTKI −3.9 ptsGPTY −3.7 ptsIQQQ −3.7 ptsGIAX −3.4 ptsBIGY −3.3 ptsISPY −3.1 ptsRYLD −3.1 ptsWEEL −2.9 ptsYMAG −2.9 ptsRDTY −2.6 ptsXLBI −2.5 ptsNBOS −1.8 ptsRYLG −1.8 ptsSPYI −1.7 ptsFTQI −1.6 ptsKNG −1.6 ptsTSPY −1.6 ptsTHTA −1.5 ptsQQQY −1.3 ptsRDTE −1.3 ptsDIVO −1.2 ptsSIXH −1.2 ptsXYLD −1.2 ptsDFII −1.1 ptsGPIQ −1.1 ptsQDTY −1.1 ptsXYLG −1.1 ptsXDTE −0.9 ptsQDTE −0.7 ptsQYLD −0.7 ptsXLII −0.7 ptsXPAY −0.7 ptsEGGY −0.6 ptsJOYT −0.6 ptsSDTY −0.6 ptsWDTE −0.4 ptsBTCC −0.3 ptsQYLG −0.3 ptsGPIX 0.0 ptsDJIA +0.1 ptsDYLG +0.3 ptsIWMI +0.3 ptsKGLD +0.3 ptsXLFI +0.3 ptsIVVW +0.4 ptsLTTI +0.5 ptsLQTI +0.6 ptsPBP +0.6 ptsHYTI +0.9 ptsTDAQ +0.9 ptsCSHI +1.3 ptsBALI +1.4 ptsYETH +1.5 ptsHYBL +1.6 ptsXLUI +1.6 ptsCHPY +1.9 ptsBTCI +2.1 ptsSOXY +2.3 ptsITWO +2.5 ptsDOGG +2.7 ptsCEPI +2.9 ptsXLYI +2.9 ptsYBIT +2.9 ptsTLTP +3.4 ptsDUBS +4.0 ptsSEPI +4.7 ptsXLCI +5.2 ptsIDVO +5.4 ptsTLTW +5.4 ptsBCCC +6.3 ptsOMAH +6.5 ptsIDUB +6.9 ptsXLSI +8.8 ptsUSOY +10.5 ptsBUCK +10.9 ptsKLIP +20.9 ptsNVYY +24.6 ptsHISF −17.3 ptsHISF −17.3 pts−38.1 pts+24.6 pts

7.8% of the 161 sit at or below HISF on this measure.

What happened to the principal
ETCO −75.0%XBTY −74.7%YETH −67.4%YBTC −61.4%BTCC −59.9%YBIT −58.9%BAGY −58.0%SLTY −54.4%ULTY −53.3%NVYY −52.4%BITY −51.9%BCCC −49.4%BTCI −46.9%DFII −44.8%LFGY −43.0%YMAX −41.0%BLOX −38.8%TOPW −36.6%OARK −33.3%KLIP −32.8%GDXY −32.5%YMAG −27.1%YQQQ −26.3%MAGY −25.8%IWMY −23.1%CEPI −21.0%RDTY −19.9%RDTE −19.4%QDTE −18.5%EGGY −15.1%TLTP −14.5%XLYI −14.1%LTTI −13.8%ACKY −13.7%WDTE −13.7%QQQY −13.0%QDTY −12.8%XDTE −12.8%AIPI −12.2%QUSA −11.8%LQTI −10.4%TLTW −10.3%SDTY −9.9%GIAX −9.8%XLUI −9.5%HIGH −9.3%LQDW −9.3%TCAL −9.0%FEPI −8.5%XV −8.4%IGLD −8.1%XLRI −8.0%XLCI −7.9%FDND −7.6%YYY −7.5%XLSI −7.3%RNTY −6.5%HYTI −6.3%GPTY −6.0%OMAH −6.0%XLBI −5.7%HYGW −5.6%IWMW −5.3%HIPS −5.2%XPAY −4.9%QRMI −4.2%USOY −4.0%XLFI −3.8%FGSI −3.2%BUCK −2.5%HYBL −2.5%JUCY −2.3%XRMI −2.3%MLPD −1.7%CAIE −1.6%IAUI −1.6%YFYA −1.6%IVVW −1.4%CVRD −1.3%JEPI −1.1%KNG −0.9%XIJN −0.7%JULJ −0.6%WTPI −0.5%CSHI −0.4%JULH −0.3%LJUL −0.2%XISE 0.0%JANH +0.1%JANJ +0.1%LAPR +0.1%LOCT +0.1%LJAN +0.2%OCTJ +0.2%XLII +0.2%APRJ +0.3%OCTH +0.3%XIDE +0.3%XIMR +0.4%APRH +0.5%TSPY +0.6%KHPI +0.7%BIGY +0.8%WEEL +0.9%SRHR +1.0%FTHI +1.1%QQQI +1.5%XLVI +2.1%SPYI +2.6%QYLG +2.8%YLDE +2.8%BUYW +2.9%SDVD +3.0%XYLG +3.4%KGLD +3.8%THTA +3.9%DJIA +4.2%FTKI +4.3%SCLZ +4.4%PAPI +4.5%RYLD +4.7%XLKI +5.0%PBP +5.1%IWMI +5.3%DYLG +5.4%TDAQ +5.9%XYLD +5.9%JEPQ +6.0%SPIN +6.1%NBOS +6.5%SPUT +6.5%RYLG +7.1%GPIX +7.9%FTQI +8.0%DOGG +8.2%ISPY +8.4%QYLD +8.4%DIVO +8.9%MDST +9.3%VEGA +9.4%BALI +9.5%GPIQ +9.8%SLJY +11.0%RDVI +11.7%TDVI +11.7%IQQQ +12.3%SEPI +13.8%XLEI +13.8%SIXH +14.1%ITWO +14.3%EIPI +14.6%JOYT +16.1%IDVO +16.4%DUBS +18.9%WEEI +18.9%IDUB +19.0%TYLG +21.2%NDIV +22.9%CHPY +24.9%SOXY +68.6%HISF −4.7%HISF −4.7%−75.0%+68.6%

40.7% of the 161 sit at or below HISF on this measure.

Weighted evenly, those two positions are what the score combines, across the 161 income ETFs writing on an index or proxy. Neither spread above is the score: a fund can sit further right on one and score lower. A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

What the score is computed from
What it measuresThis fundIts percentileWeight
against its benchmark−17.3 pts7.850%
what happened to the principal−4.7%40.750%

All income ETFs ranked by this score · How it is computed

63rd of 68 income ETFs writing on SPY, by return against it

What a holder got

HISF against SPYHISF returned +0.3% with distributions reinvested against +17.5% for S&P 500 (SPY), used as a default proxy, a gap of −17.3 pts. Of that, 4.9% arrived as cash rather than price.+0.3%HISF total return+17.5%S&P 500 (SPY), used as a default proxy

Over the year to Sep 11, 2026, HISF returned +0.3% with distributions reinvested and S&P 500 (SPY), used as a default proxy returned +17.5%, so a holder came out behind it by 17.2 points. The lighter segment is the 4.9% that arrived as cash rather than as price.

Its ten largest equity positions

HISF top ten by weight, 95.0% of its 12 equity positions, from the holdings published by its issuer for Sep 10, 2026. The options the fund writes are not positions of this kind and are not listed. Source: the issuer’s own daily file.
HoldingTickerWeight
First Trust Core Investment Grade ETFFTCB27.77%
First Trust Low Duration Opportunities ELMBS10.11%
First Trust Tactical High Yield ETFHYLS10.11%
First Trust Intermediate Duration InvestFIIG9.90%
First Trust Smith Opportunistic Fixed InFIXD9.89%
First Trust Long Duration Opportunities LGOV6.80%
First Trust Emerging Markets Local CurreFEMB5.19%
First Trust Senior Loan FundFTSL5.13%
First Trust Limited Duration Investment FSIG5.05%
First Trust Structured Credit Income OppSCIO5.04%

Method

Period by period

HISF over each window to Sep 11, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnSPYAhead or behind
3 months1.3%−2.5%−1.2%+3.3%−4.5 pts
6 months2.5%−2.7%−0.2%+16.0%−16.2 pts
1 year4.9%−4.7%+0.3%+17.5%−17.3 pts
Since launch12.1%−1.7%+10.9%+55.5%−44.6 pts

Method

When HISF pays

HISF pays monthly. The last distribution was $0.182 a share, which went ex on Aug 21, 2026 and was paid on Aug 31, 2026. The next has not been declared. On its own cadence of about 30 days the ex-date falls near Sep 21, 2026; that date is an ETFIQ projection, not the issuer’s.

Expected distributions for HISF. Where the basis is a projection, ETFIQ has carried the fund’s own spacing forward from its last ex-date and held the amount at the last one paid; neither is an issuer statement. Source: ETFIQ.
Ex-datePay dateAmountBasis
Sep 21, 2026Sep 29, 2026$0.182ETFIQ projection from the fund’s own cadence
Oct 21, 2026Oct 29, 2026$0.182ETFIQ projection from the fund’s own cadence
Every distribution ETFIQ holds for HISF (13, most recent first)
Cash distributions per share for HISF. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Aug 21, 2026$0.182
Jul 21, 2026$0.186
Jun 25, 2026$0.186
May 21, 2026$0.19
Apr 21, 2026$0.19
Mar 26, 2026$0.193
Feb 20, 2026$0.193
Jan 21, 2026$0.1875
Dec 12, 2025$0.1919
Nov 21, 2025$0.184
Oct 21, 2025$0.18
Sep 25, 2025$0.182
Aug 21, 2025$0.178

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Feb 28, 2024, HISF has returned +10.9% with distributions reinvested, against +55.5% for S&P 500 (SPY), used as a default proxy, and has paid out 12.1% of its starting value in cash along the way. It pays monthly, and at its current price the latest distribution annualizes to 5.0%. No Rule 19a-1 notice has been published for this fund, so there is no issuer estimate of how much of its distributions was a return of capital.

HISF (First Trust High Income Strategic Focus ETF), income ETFs fields as of Sep 11, 2026. Source: ETFIQ.
Strategycovered call
BenchmarkS&P 500 (SPY), used as a default proxy (proxy)
Paysmonthly
Net assets (issuer page, as of Sep 11, 2026)$100m
Latest payout, annualized (ETFIQ)5.0%
Expense ratio (485BPOS XBRL, Feb 27, 2026)0.83%
Cash paid, last 12 months, over today’s price (ETFIQ)5.2%
LaunchedFeb 28, 2024
Paysmonthly
Typical gap between ex-dates30 days
Typical wait from ex-date to payment8 days
Last paid, per share$0.182 ex Aug 21, 2026
Sum of the last 12 distributions$2.2454

Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed

Questions people ask

How much has HISF paid over the last year?
Over the year to Sep 11, 2026, HISF paid 4.9% of its starting price in cash distributions, while the price fell 4.7%.
Is HISF ahead of SPY?
Over the year to Sep 11, 2026, with every distribution reinvested, HISF returned +0.3% against +17.5% for S&P 500 (SPY), used as a default proxy, so a holder was behind it by 17.2 points.
How often does HISF pay, and how much?
HISF pays monthly. The latest distribution annualizes to 5.0% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
When does HISF next pay a distribution?
HISF pays monthly. The last distribution went ex on Aug 21, 2026 at $0.182 a share. The next is not declared; on a cadence of about 30 days the ex-date falls near Sep 21, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 8 days.
What does HISF cost?
The prospectus expense ratio is 0.83% a year.

The words on this page

Total return
What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.

Every term used here, defined in full on the income ETFs vocabulary page.

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

Funds near this one

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HISF payout bar, ETFIQ

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Where HISF is written about

HISF, Income ETFs, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. ETFIQ is an independent publisher, is not a fund issuer, broker-dealer or investment adviser, and makes no recommendations.
Use this data, or open the live card

Open HISF live on ETFIQ, where the figures refresh with the data.

Cite this page. ETFIQ, HISF, income ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/hisf Free to use with attribution; the underlying files are at Open data.

How these figures are computed · Standards and sources