USAdvisors Sells $3.8 Million of First Trust Smith Opportunistic Fixed Income ETF
Key Points
USAdvisors sold 86,075 shares of FIXD in the fourth quarter.
Quarter-end position value decreased by $3.8 million, reflecting both share reduction and price changes.
Transaction represented 1.3% of the fund’s 13F reportable assets under management (AUM).
USAdvisors stake in FIXD was valued at $478,000 at the end of the fourth quarter.
The firm's position in FIXD now accounts for 0.2% of AUM, which places it outside the fund’s top five holdings.
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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.
What else to know
- USAdvisors Wealth Management, LLC’s post-sale position in FIXD now represents 0.2% of its 13F reportable AUM.
- Top holdings after the filing:
- NYSEMKT: SCHV: $20.7 million (6.8% of AUM)
- NASDAQ: QQQ: $19.8 million (6.5% of AUM)
- NYSEMKT: SCHG: $19.2 million (6.3% of AUM)
- NYSEMKT: FBND: $11.2 million (3.7% of AUM)
- NYSEMKT: AVUV: $10.0 million (3.3% of AUM)
- As of Feb. 4, 2026, FIXD shares were priced at $44.15, up 7.0% over the past year, underperforming the S&P 500 by 8.4 percentage points.
- Dividend yield stood at 4.5% on Feb. 4, 2026.
ETF overview
| Metric | Value |
|---|---|
| Price (as of market close February 4, 2026) | $44.15 |
| Dividend yield | 4.5% |
| 1-year total return | 7.0% |
| Market capitalization | $3.47 billion |
ETF snapshot
- The investment strategy focuses on opportunistic allocation across fixed-income sectors, seeking to maximize total return through a blend of investment-grade and below-investment-grade debt securities.
- Portfolio composition includes at least 80% allocation to fixed income securities, with up to 35% in corporate, non-U.S., and non-agency debt rated below investment grade or deemed of comparable quality.
- Structured as an exchange-traded fund, the vehicle offers daily liquidity and transparency.
First Trust TCW Opportunistic Fixed Income ETF is a diversified fixed income exchange-traded fund with a market capitalization of $3.47 billion. The fund employs an active management strategy, targeting a broad universe of fixed income securities to generate risk-adjusted returns and income. FIXD's flexible mandate allows for dynamic sector and credit allocation, positioning the ETF as a versatile core holding for investors seeking exposure to both investment-grade and select high-yield bonds.
What this transaction means for investors
USAdvisors reported holding 136 positions with over $300 million in AUM in the quarter, based on its 13F filing. It significantly reduced its position in FIXD, which is an actively managed bond fund that is only worth holding if it can consistently beat a bond index.
The firm sold FIXD while adding to one of its larger bond fund holdings, the Fidelity Total Bond Index ETF. FIXD only slightly outperformed FBND, which offers lower fees. The actively managed strategy of FIXD may not be worth it, given the risk that its bond allocation doesn’t perform as expected.
USAdvisors also added to several of its large-cap stock fund holdings, such as SCHV and SCHG, targeting a combination of value and growth stocks. It also holds a position in QQQ for growth tech exposure.
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John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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