First Trust Active Factor Small Cap ETF
ALTAR
Score™
5.7% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
27.8x P/Sales
ratio
1.1x
P/BV
ratio
1.8x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
AFSM is an actively managed portfolio of US small-cap companies that exhibit exposure to one or more investing factors.

FUND BASICS
Category US Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Dec 03, 2019
Assets (mns) $2
Currency USD
Expense ratio 75 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 356
Wgt avg mkt cap (mns) $2,470
Large cap (>$10bn) 1.0%
Mid cap ($2-10bn) 47.6%
Small cap (<$2bn) 51.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LHC GROUP INC 1.0 %
TELADOC INC 1.0 %
AMEDISYS INC 0.9 %
GENERAC HOLDINGS INC 0.9 %
BMC STOCK HOLDINGS, INC. 0.9 %
QUIDEL CORP 0.8 %
PLEXUS CORP 0.8 %
BOISE CASCADE CO 0.8 %
AVISTA CORP 0.8 %
APPFOLIO INC CLASS A 0.7 %
Total 8.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.4 %
BERMUDA 0.7 %
CANADA 0.3 %
BRITAIN 0.2 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-19.7% -- -- -- -19.7%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $16.74
30d moving avg. $15.38
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.35%
ADV underlying (mns) $11,126

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the First Trust Active Factor Small Cap ETF ETF based on the alternatives' overlap in portfolio holdings with AFSM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AFSM Expense: 75 bp ALTAR Score™: 5.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AFSM
Ticker Fund
Name
Overlap1
vs AFSM
(%)
Expense
ratio
(bp)
Savings
vs AFSM
(bp)
ALTAR
Score™
(%)
ALTAR
vs AFSM
(%)
OMFS Oppenheimer Russell 2000 Dynamic Multifactor ETF 58.1 39 36 6.3 +0.5
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 37.1 29 46 6.0 +0.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 36.5 20 55 6.1 +0.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 34.1 24 51 7.7 +1.9
IWM iShares Russell 2000 ETF 32.8 19 56 3.6 -2.1
VTWO Vanguard Russell 2000 Index Fund 31.8 10 65 3.7 -2.1
IWO iShares Russell 2000 Growth ETF 31.5 24 51 0.7 -5.0
FYX First Trust Small Cap Core AlphaDEX Fund 31.1 63 12 6.5 +0.8
VTWG Vanguard Russell 2000 Growth Index Fund 30.7 15 60 0.8 -4.9
TPSC Timothy Plan US Small Cap Core ETF 30.7 52 23 7.8 +2.1
SLY SPDR S&P 600 Small Cap ETF 29.8 15 60 7.0 +1.3
SPSM SPDR Portfolio Small Cap ETF 29.8 5 70 7.1 +1.4
IJR iShares Core S&P Small Cap ETF 29.8 7 68 7.1 +1.3
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 29.8 35 40 6.2 +0.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 29.5 30 45 7.6 +1.9
VIOO Vanguard S&P Small-Cap 600 ETF 29.1 10 65 7.0 +1.3
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 28.4 35 40 8.4 +2.6
ROGS Hartford Multifactor Global Small Cap ETF 27.7 34 41 8.1 +2.3
ISMD Inspire Small/Mid Cap Impact ETF 25.9 61 14 6.9 +1.1
IWN iShares Russell 2000 Value ETF 25.9 24 51 7.2 +1.5
CSML IQ Chaikin U.S. Small Cap ETF 25.7 35 40 4.7 -1.1
VTWV Vanguard Russell 2000 Value Index Fund 25.6 15 60 7.3 +1.6
SCHA Schwab U.S. Small-Cap ETF 25.3 4 71 4.9 -0.9
PSC Principal U.S. Small Cap Index ETF 25.3 38 37 7.1 +1.4
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 24.8 40 35 6.4 +0.6
AFMC First Trust Active Factor Mid Cap ETF 24.4 65 10 6.2 +0.4
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 23.9 29 46 1.9 -3.9
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 23.8 35 40 8.4 +2.7
SLYG SPDR S&P 600 Small Cap Growth ETF 23.8 15 60 5.3 -0.4
IJT iShares S&P Small-Cap 600 Growth ETF 23.7 25 50 5.2 -0.5
IUSS Invesco Strategic US Small Company ETF 23.7 23 52 5.9 +0.2
VIOG Vanguard S&P Small-Cap 600 Growth ETF 23.5 16 59 5.3 -0.4
EES WisdomTree SmallCap Earnings Fund 23.4 38 37 11.3 +5.6
DES WisdomTree U.S. SmallCap Dividend Fund 22.9 38 37 8.7 +2.9
SQLV Legg Mason Small-Cap Quality Value 22.8 62 13 7.0 +1.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 22.7 17 58 4.9 -0.8
FSMD Fidelity Small-Mid Factor ETF 22.7 29 46 7.0 +1.3
FYC First Trust Small Cap Growth AlphaDEX Fund 22.6 70 5 2.6 -3.2
SLYV SPDR S&P 600 Small Cap Value ETF 22.6 15 60 9.2 +3.4
IJS iShares S&P Small-cap 600 Value ETF 22.6 25 50 9.1 +3.3
VIOV Vanguard S&P Small-Cap 600 Value ETF 22.1 15 60 9.0 +3.3
JHSC John Hancock Multifactor Small Cap ETF 21.8 50 25 5.8 +0.1
FNDA Schwab Fundamental U.S. Small Co. Index ETF 21.7 25 50 6.4 +0.7
NUSC Nuveen ESG Small-Cap ETF 21.7 40 35 5.0 -0.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 21.5 6 69 5.1 -0.6
AVUV Avantis U.S. Small Cap Value ETF 21.0 25 50 8.9 +3.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 20.6 39 36 4.4 -1.3
DWAS Invesco DWA SmallCap Momentum ETF 20.5 60 15 -1.1 -6.8
RWJ Invesco S&P SmallCap 600 Revenue ETF 20.3 39 36 6.8 +1.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 20.2 70 5 2.1 -3.6
JKK iShares Morningstar Small-Cap Growth ETF 19.6 30 45 1.3 -4.4
RNSC Small Cap US Equity Select ETF 19.4 60 15 7.6 +1.9
FYT First Trust Small Cap Value AlphaDEX Fund 19.1 72 3 9.1 +3.4
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 19.0 29 46 10.2 +4.5
FNX First Trust Mid Cap Core AlphaDEX Fund 18.6 61 14 6.6 +0.9
PXSG Invesco S&P SmallCap Momentum ETF 18.4 39 36 5.2 -0.5
VFMF Vanguard U.S. Multifactor ETF 18.1 18 57 7.3 +1.6
VB Vanguard Small-Cap ETF 17.5 5 70 5.5 -0.3
VBR Vanguard Small Cap Value Index Fund 17.5 7 68 8.4 +2.7
VUSE Vident Core US Equity Fund 17.4 48 27 7.7 +2.0
JKJ iShares Morningstar Small-Cap ETF 17.0 25 50 6.5 +0.7
VFMO Vanguard U.S. Momentum Factor ETF 16.8 13 62 2.1 -3.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 16.7 66 9 2.6 -3.2
EWMC Invesco S&P MidCap 400 Equal Weight ETF 16.6 40 35 6.8 +1.1
RZG Invesco S&P Smallcap 600 Pure Growth ETF 16.6 35 40 6.3 +0.6
SMDY Syntax Stratified MidCap ETF 16.1 30 45 6.3 +0.5
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 15.8 12 63 8.1 +2.4
VBK Vanguard Small-Cap Growth Index Fund 15.7 7 68 2.5 -3.2
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 15.6 20 55 6.0 +0.3
JKL iShares Morningstar Small Cap Value ETF 15.4 30 45 9.8 +4.0
XSLV Invesco S&P SmallCap Low Volatility ETF 14.7 25 50 5.9 +0.2
JSML Janus Henderson Small Cap Growth Alpha ETF 14.6 35 40 6.2 +0.5
BFOR Barron's 400 ETF 14.4 66 9 6.3 +0.6
BUY USCF SummerHaven SHPEI Index Fund 13.9 80 -5 10.5 +4.8
VXF Vanguard Extended Market Index Fund 13.9 7 68 3.8 -1.9
EZM WisdomTree U.S. MidCap Earnings Fund 13.5 38 37 9.2 +3.5
VFQY Vanguard U.S. Quality Factor ETF 13.2 13 62 6.1 +0.4
CALF Pacer US Small Cap Cash Cows 100 ETF 13.0 59 16 11.4 +5.7
MDY SPDR S&P Midcap 400 ETF Trust 13.0 23 52 6.2 +0.5
IJH iShares Core S&P Mid-Cap ETF 12.9 6 69 6.4 +0.7
SPMD SPDR Portfolio Mid Cap ETF 12.9 5 70 6.4 +0.7
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 12.8 38 37 9.1 +3.3
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 12.8 20 55 9.5 +3.8
IVOO Vanguard S&P Mid-Cap 400 ETF 12.6 10 65 6.3 +0.5
XSVM Invesco S&P SmallCap Value with Momentum ETF 12.6 39 36 10.3 +4.5
VAMO Cambria Value & Momentum ETF 12.3 64 11 7.4 +1.6
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 12.0 35 40 5.2 -0.5
TUSA First Trust Total US Market AlphaDEX ETF 11.9 70 5 6.1 +0.4
XSHQ Invesco S&P SmallCap Quality ETF 11.6 29 46 6.1 +0.3
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 11.0 48 27 6.4 +0.6
MDYV SPDR S&P 400 Mid Cap Value ETF 11.0 15 60 8.4 +2.6
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.0 15 60 8.4 +2.7
IJJ iShares S&P Mid-Cap 400 Value ETF 11.0 25 50 8.3 +2.5
SFYX Sofi Next 500 ETF 10.9 0 75 5.9 +0.2
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 10.9 7 68 5.6 -0.2
PSCH Invesco S&P SmallCap Health Care ETF 10.8 29 46 3.0 -2.7
FAB First Trust Multi Cap Value AlphaDEX Fund 10.8 71 4 9.5 +3.8
IJK iShares S&P Mid-Cap 400 Growth ETF 10.7 24 51 4.7 -1.0
MDYG SPDR S&P 400 Mid Cap Growth ETF 10.7 15 60 4.8 -0.9

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
First Trust Active Factor Small Cap ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.0 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 5.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.