First Trust Multi Income Allocation Portfolio
Data updated: 2026-08-21
C000138651 — First Trust Multi Income Allocation Portfolio. United States Mid Cap Blend / Core Equity. Holdings, fees, performance and SEC filings.
C000138651 Fund Overview
First Trust Multi Income Allocation Portfolio is a US mutual fund managed by First Trust Variable Insurance Trust, categorised as United States Mid Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: First Trust Variable Insurance Trust
- Category: United States Mid Cap Blend / Core Equity
- Assets under management: $17.24M
- 1-year return: 8.7%
- SEC CIK: 0001537395
- SEC series ID: S000044584
- Share class ID: C000138651
C000138651 Investment Objective and Strategy
First Trust Multi Income Allocation Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by First Trust Variable Insurance Trust.
Investment objective
The First Trust Multi Income Allocation Portfolios (the Fund ) primary investment objective is to maximize current income, with a secondary objective of capital appreciation.
Principal investment strategy
The Fund seeks to achieve its objectives through diversified exposure to nine income generating asset classes: dividend-paying stocks, preferred stocks, energy infrastructure companies and master limited partnerships ( MLPs ), real estate investment trusts ( REITs ), high yield or junk bonds, floating rate loans, corporate bonds, mortgage-backed securities and Treasury Inflation Protected Securities ( TIPS ). First Trust Advisors L.P. serves as the investment advisor ( First Trust or the Advisor ) to the Fund and Energy Income Partners, LLC ( EIP or a Sub-Advisor ) and Stonebridge Advisors LLC ( Stonebridge or a Sub-Advisor ) each serve as investment sub-advisors. The Advisors Investment Committee determines the Funds strategic allocation among the various asset classes and allocates the Funds assets to a portfolio management team that has expertise in the particular asset class.
Each management team is composed of personnel of either the Advisor or a Sub-Advisor. The Advisor will tactically adjust allocation weights in a manner deemed to offer attractive levels of total return relative to the level of expected risk. The Advisor intends to adjust asset allocation weights quarterly but may do so more or less frequently depending upon market conditions. The maximum weight of any asset class, at the time of adjustment, will be 20%. The minimum weight of any asset class, at the time of adjustment, will be 5%. The Fund may, at certain times, invest in exchange-traded funds ( ETFs ) that generally provide exposure to the nine asset classes in lieu of investing directly in such assets classes. Certain of the ETFs may be advised by First Trust, as a result, First Trust will also earn advisory fees on the underlying ETFs.
In general, the U.S. dollar-denominated fixed income securities in which the Fund invests may be issued by U.S. and non-U.S. issuers, of any credit quality, including high yield securities. The high yield securities in which the Fund invests are rated below investment grade at the time of purchase or unrated and deemed by the Advisor to be of comparable quality, commonly referred to as junk bonds. The Fund also invests in the equity securities of domestic and foreign issuers (including emerging markets) listed on a U.S. or foreign securities exchange and non-U.S. securities that are listed on a U.S. securities exchange in the form of American Depository Receipts ( ADRs ) and Global Depository Receipts ( GDRs ). The Fund may invest in equity securities issued by small, mid or large capitalization companies.
The Fund may also invest in bank loans, covenant-lite loans, hybrid capital securities, senior loans and when-issued, TBA and delayed delivery securities.
C000138651 Holdings
Top 10 holdings of First Trust Multi Income Allocation Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| First Trust Exchange-Traded Fund IV | 12.52% |
| First Trust Exchange-Traded Fund III | 8.73% |
| First Trust Exchange-Traded Fund IV | 8.70% |
| Ishares Trust | 6.69% |
| First Trust Exchange-Traded Fund IV | 3.63% |
| Ishares Trust | 2.24% |
| First Trust Exchange-Traded Fund IV | 2.08% |
| Morgan Stanley Institutional Liquidity Funds | 1.64% |
| Ishares Trust | 1.14% |
| Enterprise Products Partners LP | 0.96% |
C000138651 Portfolio Allocation
Asset-class allocation of First Trust Multi Income Allocation Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 89.5% |
| Fixed Income | 8.7% |
| Cash & Equivalents | 1.6% |
C000138651 Performance
Total returns for C000138651 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 5.3% |
| 1 year | 8.7% |
| 3 years (annualised) | 9.7% |
| 5 years (annualised) | 5.7% |
C000138651 Risk Information
Risk metrics for C000138651, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.7%
C000138651 Costs and Fees
C000138651 costs about $117 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.17%
- Gross expense ratio: 2.46%
- Portfolio turnover: 75%
- Brokerage commissions: 3.93 bps of average net assets (SEC N-CEN)
C000138651 Cashflows
Over the 12 months to 2026-06, First Trust Multi Income Allocation Portfolio had net outflows of $4.51M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $1.73M |
| 2026-05 | $916.28K |
| 2026-04 | $63.57K |
| 2026-03 | −$69.27K |
| 2026-02 | $80.98K |
| 2026-01 | $464.89K |
C000138651 Debt Constituents
Largest debt holdings of First Trust Multi Income Allocation Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Of America - Bureau Of The Public Debt | 0.31% |
| United States Of America - Bureau Of The Public Debt | 0.30% |
| United States Of America - Bureau Of The Public Debt | 0.30% |
| United States Of America - Bureau Of The Public Debt | 0.28% |
| United States Of America - Bureau Of The Public Debt | 0.27% |
| United States Of America - Bureau Of The Public Debt | 0.27% |
| United States Of America - Bureau Of The Public Debt | 0.27% |
| United States Of America - Bureau Of The Public Debt | 0.27% |
| United States Of America - Bureau Of The Public Debt | 0.26% |
| United States Of America - Bureau Of The Public Debt | 0.26% |
C000138651 Prospectus and SEC Filings
Official First Trust Multi Income Allocation Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-30
- Prospectus (485BPOS) — filed 2024-04-29
- Portfolio holdings (N-PORT) — filed 2026-08-21
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-23
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other United States Mid Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.