FTMAX — First Trust Multi-Strategy Fund
Data updated: 2026-08-24
FTMAX — First Trust Multi-Strategy Fund. Managed Futures / Global Macro · $1.35B AUM · 1.86% expense ratio. Holdings, fees, performance and SEC filings.
FTMAX Fund Overview
FTMAX — First Trust Multi-Strategy Fund is a US mutual fund managed by Investment Managers Series Trust II, categorised as Managed Futures / Global Macro. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Investment Managers Series Trust II
- Category: Managed Futures / Global Macro
- Assets under management: $1.35B
- 1-year return: 5.6%
- Ticker: FTMAX
- SEC CIK: 0001587982
- SEC series ID: S000055376
- Share class ID: C000174208
FTMAX Holdings
Top 10 holdings of First Trust Multi-Strategy Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Spx 06/30/26 C6000 06/26 6000.0 Cal / | 34.81% |
| Spx 09/30/26 C7000 09/26 7000.0 Cal / | 15.49% |
| Spx 09/30/26 P8000 09/26 8000.0 Put / | 12.13% |
| Umb Money Market Ii Special / | 3.41% |
| Taylor Morrison Home Corp | 2.21% |
| Chart Industries Inc | 1.88% |
| ARC Resources Ltd | 1.15% |
| Nuvalent Inc | 1.06% |
| National Storage Affiliates Tr | 0.96% |
| Apogee Therapeutics Inc | 0.85% |
FTMAX Portfolio Allocation
Asset-class allocation of First Trust Multi-Strategy Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Derivatives | 62.5% |
| Securitized | 53.2% |
| Equity | 16.5% |
| Cash & Equivalents | 3.4% |
| Other | 2.3% |
| Fixed Income | 1.0% |
FTMAX Performance
Total returns for FTMAX (as of 2026-09-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.9% |
| 1 year | 5.6% |
| 3 years (annualised) | 6.6% |
| 5 years (annualised) | 3.9% |
FTMAX Risk Information
Risk metrics for FTMAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.3%
FTMAX Costs and Fees
FTMAX costs about $186 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.86%
- Gross expense ratio: 1.86%
- Portfolio turnover: 191%
- Brokerage commissions: 5.42 bps of average net assets (SEC N-CEN)
FTMAX Cashflows
Over the 12 months to 2026-06, First Trust Multi-Strategy Fund had net inflows of $411.15M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $8.75M |
| 2026-05 | $23.51M |
| 2026-04 | $7.13M |
| 2026-03 | $20.01M |
| 2026-02 | $50.17M |
| 2026-01 | $35.23M |
FTMAX Debt Constituents
Largest debt holdings of First Trust Multi-Strategy Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Rmls Class D LLC / | 0.19% |
| Rmls Class E LLC / | 0.18% |
| Rmls Class B LLC / | 0.12% |
| Rmls Class C LLC / | 0.12% |
| Nexbank Capital, Inc. | 0.11% |
| Rmls Class F LLC / | 0.10% |
| Oceanfirst Financial Cp | 0.07% |
| Atlantic Union Bankshare | 0.07% |
FTMAX Prospectus and SEC Filings
Official First Trust Multi-Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-27
- Prospectus (485BPOS) — filed 2025-01-28
- Prospectus supplement (497) — filed 2024-03-07
- Portfolio holdings (N-PORT) — filed 2026-08-24
- Portfolio holdings (N-PORT) — filed 2026-05-22
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Annual census (N-CEN) — filed 2024-12-12
- Annual census (N-CEN) — filed 2023-12-14
Related Funds
Other Managed Futures / Global Macro 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.