About First Trust Income Opportunities ETF (FCEF) — Dividend Analysis 2026
The First Trust Income Opportunities ETF (formerly First Trust CEF Income Opportunity ETF) (the "Fund") seeks to provide current income with a secondary emphasis on total return. Under normal market conditions, the Fund seeks to achieve its investment objectives by investing in a portfolio of closed-end investment companies ("closed-end funds") and exchange-traded funds ("ETFs") that are listed and traded in the United States on registered exchanges. Closed-end funds and ETFs are managed registered investment companies which invest in various types of securities. Both closed-end funds and ETFs trade on a securities exchange and their shares may, at times, trade at a premium or discount to their net asset value. As a shareholder in a pooled investment vehicle, the Fund will bear its ratable share of an underlying fund's expenses and would remain subject to payment of the underlying fund's advisory and administrative fees with respect to assets so invested.
Is FCEF a good dividend investment in 2026?
FCEF offers a 7.36% forward yield with a 50% payout ratio. Strand Safety Score: N/A. The 5-year dividend CAGR of 0% is modest — investors should weigh current income against growth alternatives.
FCEF DRIP calculator — what's the difference?
With DRIP on a $10,000 investment over 10 years, your FCEF portfolio grows to $20.4K vs $17.4K without reinvestment. This is the compound interest effect in action.
FCEF dividend growth history & forecast
FCEF has grown its dividend by 0% over the last year and 0% annually over 5 years. At this pace, an investor who holds for 10+ years will see their yield on cost grow substantially above the current 7.36%.
ETFs do not file income statements or cash flow statements. Their dividend safety depends on the underlying index quality, fund methodology, and holdings composition. Use the Holdings page to analyze individual stocks in this fund.
🌍 FCEF Yield by Country & Account Type
Real after-tax yield depends on where you live and how you hold FCEF.
Gross yield
7.36%
Tax rate
15.00%
After-tax yield
6.26%
Real yield (−CPI)
3.46%
Account/Country
Tax Rate
After-tax Yield
Real Yield
$10K Annual Income
🇺🇸 Roth IRA / 401k
0%
7.36%
4.56%
$736 / yr
🇺🇸 US Taxable (15%) ✓
15%
6.26%
3.46%
$626 / yr
🇺🇸 US Taxable (20%)
20%
5.89%
3.09%
$589 / yr
🇬🇧 UK ISA
0%
7.36%
4.56%
$736 / yr
🇬🇧 UK Taxable
8.75%
6.72%
3.92%
$672 / yr
🇨🇦 TFSA
0%
7.36%
4.56%
$736 / yr
🇨🇦 CA Taxable
25%
5.52%
2.72%
$552 / yr
🇦🇺 Super (pension)
15%
6.26%
3.46%
$626 / yr
🇦🇺 AU Taxable
30%
5.15%
2.35%
$515 / yr
🇩🇪 DE Taxable
26.375%
5.42%
2.62%
$542 / yr
🇫🇷 FR Taxable
30%
5.15%
2.35%
$515 / yr
Real yield = after-tax yield minus US CPI of 2.8%. 12-month CPI (US BLS via FMP economic-indicators). Click any row to select. US withholding tax (30%, reducible by treaty) applies to non-US residents holding US stocks in taxable accounts.
🎯 FCEF Income Goal & Break-Even
Dividend Break-Even
16yr
Years for dividends to fully repay your FCEF investment of $22.03/share (🇺🇸 US Taxable (15%) · 15.00% tax)
$10K invested · 10 Years
Dividends earned (DRIP)
$8.4K
Lost to inflation (2.8% CPI)
−$2.5K
Real purchasing power gain
$5.9K
12-month CPI (US BLS via FMP economic-indicators).
How much do I need to invest in FCEF for:
Shares needed
17,403
Capital required
$383,411
Monthly income
$2,000
Based on current dividend of $1.62/share/yr · 🇺🇸 US Taxable (15%) · static projection (no growth assumed).
📅 FCEF Dividend Payment Schedule
FCEF pays quarterly — 4 times per year. Next ex-div: TBD.
Jan
Feb
Mar
💰
Apr
May
Jun
💰
Jul
Aug
Sep
💰
Oct
Nov
Dec
💰
10 shares
$3.45 / payment
$13.79 / year after tax
100 shares
$34.48 / payment
$137.91 / year after tax
1,000 shares
$344.78 / payment
$1379.13 / year after tax
📊 FCEF vs Financial Services Benchmarks
How FCEF compares to typical Financial Services averages.
Benchmark: Financial Services
Dividend Yield▲+4.46% vs sectorBetter
FCEF
7.36%
avg
2.90%
5Y Dividend CAGR▼-7.10% vs sectorBelow avg
FCEF
0.00%
avg
7.10%
Payout Ratio▼+12.00% vs sectorBelow avg
FCEF
50.00%
avg
38.00%
Benchmarks: S&P 500 sector averages (2024–2026). Sources: Morningstar, Bloomberg, NAREIT. 5Y CAGR for FCEF sourced from FMP /financial-growth endpoint — real data, not estimates.
🏛️ FCEF Insider Activity
No recent SEC filings reported in the last 90 days.
📊 About This Data
Dividend yields, payout ratios, and financial metrics are sourced from Financial Modeling Prep (FMP) and cross-referenced with SEC EDGAR filings. Data is cached and updated every 24 hours via our nightly refresh. DRIP projections are forward-looking estimates, not guarantees.
Educational purposes only. Not financial advice. DividendFlow is not a registered investment advisor. Projections generated by the FCEF dividend calculator are estimates based on historical data and user inputs. Actual future returns, stock prices, and dividend payments will vary. Dividends can be cut or suspended at any time. All investments carry risk, including the loss of principal. Please consult a qualified financial professional before making any investment decisions. Full disclaimer →