On Feb. 5, 2026, USAdvisors Wealth Management, LLC disclosed that it reduced its position in First Trust Smith Opportunistic Fixed Income ETF (NASDAQ:FIXD). What happened According to a Securities and Exchange Commission (SEC) filing dated Feb. 5, 2026, USAdvisors Wealth Management, LLC reduced its stake in First Trust Smith Opportunistic Fixed Income ETF by 86,075 shares. The quarter-end value of the position fell by $3.8 million, reflecting the combined effects of trading and share price movement. Wha ...

Core Viewpoint - The reduction in holdings of First Trust Smith Opportunistic Fixed Income ETF (FIXD) by Drake & Associates may indicate a shift in sentiment towards the retirement-focused asset manager [1][2]. Group 1: Transaction Details - Drake & Associates sold 533,049 shares of FIXD in Q3 2025, valued at approximately $23.45 million, reducing their holdings to 41,985 shares worth $1.86 million [2][3]. - Following the sale, FIXD constituted only 0.39% of the fund's assets under management (AUM), moving it outside the top five holdings [3]. Group 2: Fund Performance - As of November 5, 2025, FIXD shares were priced at $44.42, reflecting a 1.4% decline from the 52-week high [3]. - The one-year total return for FIXD was 6%, underperforming the S&P 500 by 12.8 percentage points during the same period [3]. Group 3: Fund Overview - FIXD has an AUM of $3.4 billion and an annualized dividend yield of 4.28% as of November 6, 2025 [4][5]. - The ETF primarily invests at least 80% of its assets in fixed income securities, with a flexible mandate allowing up to 35% in corporate, non-U.S., and non-agency debt, including below investment grade securities [6]. Group 4: Strategic Shift - Drake & Associates initiated a significant stake in the Putnam Focused Large Cap Value ETF, indicating a potential change in investment strategy towards undervalued U.S. large-cap stocks [9].