# UCON (First Trust Smith Unconstrained Bond ETF)

First Trust · Bond ETFs · Corporate bond · data as of Oct 2, 2026

UCON is actively managed and returned −1.4% over the past year.

## Key facts

- UCON, total return, 1 year: −1.4%, as of Oct 2, 2026.
- UCON, expense ratio: 0.86%, as of Oct 2, 2026.
- UCON, holdings: 451, as of Oct 2, 2026.
- UCON, below its high: −3.5%, as of Oct 2, 2026.
- UCON, net assets: $3.2bn (issuer page, as of Oct 2, 2026).

## UCON over each window to Oct 2, 2026

| Window | Total return | S&P 500 | Gap to S&P 500 | Gap to Nasdaq-100 |
| --- | --- | --- | --- | --- |
| 3 months | −3.3% | +3.6% | −6.9 pts | −8.6 pts |
| 6 months | −2.1% | +17.9% | −20.0 pts | −30.5 pts |
| 1 year | −1.4% | +16.2% | −17.6 pts | −25.7 pts |
| 3 years | +16.4% | +89.3% | −72.9 pts | −98.3 pts |
| Since listing | +29.9% | +218.4% | −188.6 pts | −323.3 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| What it tracks | No index, actively managed | ETFIQ |
| Fund type | Bond fund | ETFIQ |
| Category | Bonds · Corporate bond | ETFIQ |
| Expense ratio | 0.86% | 485BPOS XBRL, Dec 29, 2025 |
| Price | $23.78 | ETFIQ |
| Listed since | Jun 5, 2018 | ETFIQ |
| Net assets | $3.2bn | issuer page, as of Oct 2, 2026 |
| Below its high | −3.5% | ETFIQ |
| Holdings | 451 | ETFIQ |
| Top ten weight | 14.3% | ETFIQ |
| Holdings published for | Oct 2, 2026 | the issuer’s daily file |

## Questions

### How has UCON performed?

Over the year to Oct 2, 2026, UCON returned −1.4% with distributions reinvested, against +16.2% for the S&P 500. Over three years the figure is +16.4%.

### What does UCON cost?

The prospectus expense ratio is 0.86% a year.

### How far is UCON below its high?

3.5% below its high of Jun 29, 2026, measured on the reinvested series to Oct 2, 2026.


## Cite this page

ETFIQ, UCON, data as of Oct 2, 2026. https://etfiq.com/funds/ucon
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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