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FFA · First Trust Enhanced Equity Income Fund

Know the company

Company overview

First Trust Enhanced Equity Income Fund owns a diversified stock portfolio and writes call options on selected holdings. Dividends and option activity can both affect cash, while stock prices determine much of the value behind the payment.

Business
Equity options CEF
Listing
FFA · XNYS
Reporting period
2026-06-30
Dividend schedule
Quarterly

How the business works

Company dividends become net investment income after costs. Option proceeds and stock gains or losses are separate, making NAV and total investment results important companions to the distribution.

First Trust Enhanced Equity Income Fund: financial report supporting reported earnings

Dividend & earnings snapshot

Reported earnings

Each measure shown separately, per share

Net investment income$0.04

Jan 1, 2026 to Jun 30, 2026

Distribution yield7.39%Sourced distributions divided by dated market price
Reported annual income yield0.36%Reported net investment income $0.0800 per share for 2025-01-01 to 2025-12-31, divided by approved 2025-12-31 market price $22.0200. Excludes capital gains; historical, not a current yield or forecast.
Annual dividend$1.70Current regular payment annualized per share
Distribution supportSee period evidenceCash distributions, NAV and reported returns are shown separately; no earnings-coverage ratio is assigned.
Verified dividend dates and payment components

Issuer announcements supplement the recorded totals above. Each declared payment is shown separately. Additional payments are not assumed to repeat.

Verified earnings history and sources

The latest four recorded reporting periods. Each issuer measure keeps its own name and dates. These source records supplement the Fly High figures above; different measures are not added together or assumed comparable.

Reporting periodEarnings measurePer shareSource
Jan 1, 2026 to Jun 30, 2026Net investment income$0.04Issuer source 1
Announced Sep 3, 2026

Reported NAV total return by period

Full-year fund-reported NAV total return. The shorter period remains in the table above and is not joined to this trend.

Market price and NAV per share

Reviewed USD market closes or SEC-reported prices matched to NAV dates. A different price date or split adjustment is shown in the label.

Business and earnings charts

Financial snapshot: 2026-06-30. Research reviewed 2026-09-18. Source dates are retained with each measure; historical results are not a forecast.

The assets it owns

$506.898 million net assets63 holdings · As of 3/31/2026

Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.

A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.

First Trust Enhanced Equity Income Fund: net assets and portfolio information, checked 2026-09-11

Reported earnings and distributions

2026-01-01 through 2026-06-30 · $ per share

Fund net investment income per common share; actual reporting period, not annualized$0.0400

In the first half of 2026, FFA reported $0.04 of net investment income per common share and $0.78 of total distributions. NAV increased from $23.72 to $24.65 over the same period. The income line is only one part of this option and equity strategy, so read the option and investment results with the cash paid.

First Trust Enhanced Equity Income Fund: financial report supporting reported earnings

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting periodEnding NAVNAV changeDistributions / shareReported NAV total returnSource
Jan 1, 2026 to Jun 30, 2026$24.65+3.92%$0.78+7.70%Verified issuer financial highlights for the six months ended June 30, 2026. Return is the reported NAV return, not inferred; unavailable NAV return remains null.
Jan 1, 2025 to Dec 31, 2025$23.72+12.10%$1.48+20.24%FFA own SEC common-share Financial Highlights, table 25. Total cash distributions are shown as positive payouts; the filing presents them parenthesized. Net investment income, gains, cash and issuer NAV total return remain separate, not an earnings coverage verdict. This annual SEC source is the existing reviewed NII filing; the saved 2026 semiannual report independently repeats the same NAV and cash.
Jan 1, 2024 to Dec 31, 2024$21.16+12.91%$1.37+20.88%FFA own SEC common-share Financial Highlights, table 25. Total cash distributions are shown as positive payouts; the filing presents them parenthesized. Net investment income, gains, cash and issuer NAV total return remain separate, not an earnings coverage verdict. This annual SEC source is the existing reviewed NII filing; the saved 2026 semiannual report independently repeats the same NAV and cash.
Jan 1, 2023 to Dec 31, 2023$18.74+12.28%$1.26+20.61%FFA own SEC common-share Financial Highlights, table 25. Total cash distributions are shown as positive payouts; the filing presents them parenthesized. Net investment income, gains, cash and issuer NAV total return remain separate, not an earnings coverage verdict. The saved 2026 semiannual report is the source for this exact annual column.
Jan 1, 2022 to Dec 31, 2022$16.69-21.94%$1.26-15.84%FFA own SEC common-share Financial Highlights, table 25. Total cash distributions are shown as positive payouts; the filing presents them parenthesized. Net investment income, gains, cash and issuer NAV total return remain separate, not an earnings coverage verdict. The saved 2026 semiannual report is the source for this exact annual column.
Jan 1, 2021 to Dec 31, 2021$21.38+16.89%$1.26+24.38%FFA own SEC common-share Financial Highlights, table 25. Total cash distributions are shown as positive payouts; the filing presents them parenthesized. Net investment income, gains, cash and issuer NAV total return remain separate, not an earnings coverage verdict. The saved 2026 semiannual report is the source for this exact annual column. The filing also reports $21.29 as the common-share fiscal period market value. This is an issuer-reported period observation, not a recovered exchange close; no exact raw close was available in the saved archive for that date.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

Distribution and NAV evidence

Cash paid, opening and closing NAV, and the fund-reported NAV total return are separate observations. NAV change excludes distributions. These figures show outcomes, not which source funded a payment or whether future distributions are sustainable. Net investment income excludes investment gains and is not a payout-coverage ratio.

Reporting period and filingNet investment income/shareCash distributions/shareOpening NAVClosing NAVNAV changeReported NAV total return
2021-01-01 to 2021-12-31 $0.07 $1.26 $18.29 $21.38 16.89% 24.38%
2022-01-01 to 2022-12-31 $0.15 $1.26 $21.38 $16.69 -21.94% -15.84%
2023-01-01 to 2023-12-31 $0.15 $1.26 $16.69 $18.74 12.28% 20.61%
2024-01-01 to 2024-12-31 $0.12 $1.37 $18.74 $21.16 12.91% 20.88%
2025-01-01 to 2025-12-31 $0.08 $1.48 $21.16 $23.72 12.10% 20.24%
2026-01-01 to 2026-06-30 $0.04 $0.78 $23.72 $24.65 3.92% 7.70%

Risk monitor

RiskCurrent conditionDirectionWhy it matters
Portfolio riskLosses or weaker cash generation in equity markets and covered-call trade-offs can reduce the resources available for future distributions.MonitorA change can affect future shareholder cash payments or the capital supporting them.
Option trade-offsWriting options can limit upside without eliminating equity losses. Premium receipts are not the same as realized investment profit.MonitorA change can affect future shareholder cash payments or the capital supporting them.

The assets behind the earnings

How FFA makes money

Financial snapshot: 2026-06-30. Research reviewed 2026-09-18. Source dates are retained with each measure; historical results are not a forecast.

The income-producing business

Portfolio dividends and interest, realized investment results and any option activity contribute to distribution resources after expenses. A declared distribution can include gains or return of capital as well as investment income; its amount is not an earnings figure.

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

First Trust Enhanced Equity Income Fund: financial report supporting reported earnings

What the reported earnings support

First Trust Enhanced Equity Income Fund reported $0.0400 per share for 2026-01-01 through 2026-06-30, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

First Trust Enhanced Equity Income Fund: financial report supporting reported earnings

What would change the earnings picture?

Check the next option and stock results, cash sources and NAV. Keep the half-year apart from the earlier full-year income history.

Net asset value (NAV)

NAV per share$24.9500Sep 29, 2026
Market price$22.1900Sep 29, 2026
PREMIUM / DISCOUNT TO NAV11.06% discountCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

CEFConnect current common-share NAV and closing market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.

NAV source · Market-price source

Current evidence and recent developments

  • Regular distribution screen: 7.39% on 2026-09-11.
  • Reported net investment income per common share: $0.04 for 2026-01-01 through 2026-06-30; not annualized.

What to watch next

  • Check the next option and stock results, cash sources and NAV. Keep the half-year apart from the earlier full-year income history.

Fly High context

Check the next option and stock results, cash sources and NAV. Keep the half-year apart from the earlier full-year income history.

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U.S. federal · Tax year 2025

Dividend tax treatment

The fund's 2025 breakdown shows mainly capital-gain distributions. The mix can change from year to year.

This issuer information is a guide, not your personal tax statement. Use your Form 1099-DIV when you file.

Ordinary, nonqualified
0%
Qualified dividends
5.78%
Capital-gain distributions
94.22%
Return of capital
0%

Tax year: 2025. Total distributions: $1.48 per share.

Tax details and source
Total ordinary dividends (includes qualified)
5.78%
Section 199A portion (within ordinary dividends)
0%
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
2026-01-16

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

Public Research updated October 1, 2026 3:42 am

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