First Trust Enhanced Short Maturity ETF (FTSM) is an exchange-traded fund in the Ultrashort Bond category. It has $6.49B in assets, an expense ratio of 0.29% and a 4.14% dividend yield. Under normal market conditions, the Advisor intends to achieve its investment objective by investing at least 80% of its net assets in a portfolio of U.S. dollar-denominated fixed- and variable-rate debt securities. Normally the fund's portfolio is expected to have an average duration of less than one year and an average maturity of less than three years.