First Trust Combined Series 517: Investment Grade Multi-Asset Trust is a unit investment trust designed to provide diversified income exposure across high-quality fixed income and related income-producing securities. The portfolio follows a defined, buy-and-hold structure for a specified term, offering transparent holdings and a set termination date typical of unit trusts. According to sponsor materials and listings, the strategy emphasizes investment-grade credit quality and blends multiple asset types—such as corporate bonds and other fixed income sleeves—to balance yield and risk while maintaining an intermediate profile over its life cycle. The trust format avoids active trading, instead delivering a rules-based, time-limited allocation that can help investors access a curated basket of investment-grade income assets in a single vehicle. Within the broader market, it serves as a tactical building block for income-focused allocations seeking defined-term clarity, diversified credit exposure, and the structural discipline of a unit investment trust, complementing traditional mutual funds and ETFs focused on income.
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