FDWRNX

About FDWRNX

First Trust Combined Series 340 Build America Bonds Portfolio Series 22 is a unit investment trust designed to provide investors with monthly income while seeking capital preservation. This portfolio is composed of a professionally selected, fixed roster of investment-grade taxable municipal bonds, each issued under the Build America Bonds provision of the American Recovery and Reinvestment Act of 2009. The program was created to help finance public projects by offering municipal issuers federal subsidies, resulting in higher yields for investors compared to traditional municipal bonds. The trust structure means the underlying bond portfolio is fixed and not actively managed after the initial selection, providing clarity on holdings and maturity schedules. Key characteristics include a focus on credit quality, with only investment-grade securities selected, and regular income distributions. The trust operates as a regulated investment company, offering certain tax efficiencies. By aggregating a diversified portfolio of Build America Bonds, this asset serves institutional and individual investors seeking predictable income and exposure to federally subsidized municipal credit, playing a niche role within the broader taxable fixed income market.