First Trust Structured Credit Income Opportunities ETF (SCIO)

First Trust Structured Credit Income Opportunities ETF (SCIO) is an exchange-traded fund in the Multisector Bond category. It has $548.63M in assets, an expense ratio of 0.70% and a 5.75% dividend yield. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in structured credit investments. Structured credit investments are created through a securitization process, in which financial assets such as loans and mortgages are packaged into interest-bearing securities backed by those assets and issued to investors. The fund is non-diversified.