What Is LMBS? First Trust Low Duration Opportunities ETF
Last updated July 2026
Short answer
LMBS is First Trust Low Duration Opportunities ETF, an ETF that tracks a short-dated US Treasury index at a 0.66% expense ratio. LMBS holds short-dated US Treasury, bundled into one ticker. It distributes about 4.11%, and that payout moves with rates rather than being fixed. It launched in 2014. It charges 0.66%.
LMBS is issued by First Trust and tracks a short-dated US Treasury index. It charges a 0.66% expense ratio, holds approximately $6.3B in assets under management, yields about 4.11%, and launched in 2014.
What is LMBS?
LMBS is First Trust Low Duration Opportunities ETF, an ETF that tracks a short-dated US Treasury index at a 0.66% expense ratio. LMBS holds short-dated US Treasury, bundled into one ticker. It distributes about 4.11%, and that payout moves with rates rather than being fixed. It launched in 2014. It charges 0.66%.
LMBS is issued by First Trust and tracks a short-dated US Treasury index, so a single ticker gives you the whole portfolio of underlying holdings weighted by the index's methodology rather than by any active stock-picking.
What does LMBS hold?
LMBS is weighted toward its largest constituents. As of August 2026, the top holdings are:
| Rank | Ticker | Company | % of LMBS | |
|---|---|---|---|---|
| 1 | MISXX | Morgan Stanley Instl Lqudty Trs Instl | 5.0% |
The remaining holdings make up the balance of the fund, with weights tapering off below the top names. Because the index reconstitutes on a rolling basis, the roster stays current without active management. Each ticker above links to its individual stock guide in Walnut.
How do I invest in LMBS?
There are three common ways to get LMBS exposure. Buy shares (or fractional shares) of LMBS directly at any major broker that lists it. Hold it as a core position and layer more concentrated ideas on top. Or build it into a thematic portfolio in Walnut, so LMBS sits alongside other holdings that express the same thesis, with target weights you can rebalance toward. LMBS trades like a stock during market hours, so you buy it the same way you would any listed share.
New to buying funds? See how to buy an ETF, step by step.
Is LMBS a good buy?
Whether LMBS is a good buy depends less on any single call and more on your time horizon and what you already hold: it tracks a short-dated US Treasury index, so the real question is whether you want that exposure in your mix and at what weight. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is LMBS a buy?
The bottom line on LMBS
LMBS gives you a short-dated US Treasury index exposure in one ticker at a 0.66% expense ratio. Most investors use it as a core holding and layer more concentrated thematic portfolios on top.
More on LMBS
Whether LMBS is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is LMBS a buy?
LMBS yields 4.11% as of August 2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see LMBS dividend: yield and schedule.
New to funds like LMBS? Start with what an ETF is, then how to buy an ETF, or browse the full guide to ETF investing.
Wondering how LMBS fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in LMBS with AI
Connect the broker you already use and ask Walnut's AI how LMBS fits what you actually hold: what it overlaps with, what it leaves you exposed to, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is LMBS's ticker symbol?
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LMBS, First Trust Low Duration Opportunities ETF. Issued by First Trust; tracks a short-dated US Treasury index. Trades during US market hours, available at every major US brokerage.
What is LMBS's expense ratio?
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0.66% as of August 2026.
What are LMBS's top holdings?
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Top holdings as of August 2026: MISXX and others. See the full holdings table above.
How can I invest in LMBS through Walnut?
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Walnut isn't a broker. Connect a brokerage and Walnut sits on top to help you build and track thematic portfolios. LMBS can be a constituent alongside individual stocks.
How do I compare LMBS to similar ETFs?
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Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. LMBS's figures are above; the full method is in Walnut's guide on how to compare ETFs.
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Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to August 2026; verify current figures against First Trust's fund page or your broker before investing.