First Trust Active Factor Small Cap ETF
ALTAR
Score™
5.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
25.1x P/Sales
ratio
1.1x
P/BV
ratio
2.0x Div.
yield
1.5%


  • 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 04, 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 355
Wgt avg mkt cap (mns) $2,994
Large cap (>$10bn) 4.4%
Mid cap ($2-10bn) 49.2%
Small cap (<$2bn) 46.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GENERAC HOLDINGS INC 1.4 %
HIBBETT SPORTS INC 1.1 %
LHC GROUP INC 1.1 %
TELADOC INC 1.0 %
QUIDEL CORP 1.0 %
AMEDISYS INC 0.9 %
ENPHASE ENERGY INC 0.9 %
KINSALE CAPITAL GROUP, INC. 0.9 %
PLEXUS CORP 0.8 %
TOPBUILD CORP 0.8 %
Total 10.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.5 %
BERMUDA 0.8 %
CANADA 0.4 %
BRITAIN 0.3 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.9% -- -- -- -11.9%

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

Technical Indicators
Recent close $18.81
30d moving avg. $18.54
Annualized volatility 0.0%
Short interest (ETF) 0.4%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.25%
ADV underlying (mns) $10,480

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 5.4%


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
(%)
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 36.0 24 51 6.4 +1.0
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 34.3 29 46 4.9 -0.5
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 33.1 20 55 4.8 -0.7
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 31.7 30 45 7.4 +2.0
STSB iShares Factors US Small Blend Style ETF 28.3 35 40 3.6 -1.8
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 28.3 35 40 5.9 +0.4
IWM iShares Russell 2000 ETF 27.9 19 56 3.3 -2.1
IWO iShares Russell 2000 Growth ETF 27.8 24 51 -0.1 -5.5
VTWO Vanguard Russell 2000 Index Fund 27.5 10 65 3.5 -1.9
ROGS Hartford Multifactor Global Small Cap ETF 27.5 34 41 8.0 +2.6
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 27.3 35 40 7.7 +2.2
TPSC Timothy Plan US Small Cap Core ETF 27.2 52 23 7.8 +2.4
VIOO Vanguard S&P Small-Cap 600 ETF 27.0 10 65 6.8 +1.4
FYX First Trust Small Cap Core AlphaDEX Fund 26.8 63 12 6.0 +0.6
SPSM SPDR Portfolio Small Cap ETF 26.5 5 70 6.9 +1.5
SLY SPDR S&P 600 Small Cap ETF 26.5 15 60 6.8 +1.4
IJR iShares Core S&P Small Cap ETF 26.5 6 69 6.9 +1.5
AFMC First Trust Active Factor Mid Cap ETF 25.3 65 10 6.2 +0.8
VTWG Vanguard Russell 2000 Growth Index Fund 25.1 15 60 0.1 -5.3
FSMD Fidelity Small-Mid Factor ETF 24.6 29 46 6.2 +0.7
PSC Principal U.S. Small Cap Index ETF 24.5 38 37 6.7 +1.3
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 24.4 40 35 7.1 +1.7
SCHA Schwab U.S. Small-Cap ETF 24.3 4 71 4.7 -0.8
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 23.9 29 46 0.2 -5.2
CSML IQ Chaikin U.S. Small Cap ETF 23.3 35 40 3.8 -1.6
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 22.9 35 40 7.8 +2.4
NUSC Nuveen ESG Small-Cap ETF 22.8 40 35 4.7 -0.7
ISMD Inspire Small/Mid Cap Impact ETF 22.6 60 15 4.8 -0.6
SSLY Syntax Stratified SmallCap ETF 22.5 30 45 6.4 +1.0
JKK iShares Morningstar Small-Cap Growth ETF 22.4 30 45 1.0 -4.4
BKSE BNY Mellon US Small Cap Core Equity ETF 22.3 4 71 5.6 +0.2
FNY First Trust Mid Cap Growth AlphaDEX Fund 22.2 70 5 2.1 -3.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 22.1 17 58 4.7 -0.7
EES WisdomTree SmallCap Earnings Fund 22.0 38 37 10.0 +4.6
IWN iShares Russell 2000 Value ETF 21.9 24 51 6.6 +1.2
IJS iShares S&P Small-cap 600 Value ETF 21.7 25 50 8.7 +3.3
SQLV Legg Mason Small-Cap Quality Value 21.7 62 13 6.3 +0.8
SLYV SPDR S&P 600 Small Cap Value ETF 21.7 15 60 8.6 +3.2
VIOV Vanguard S&P Small-Cap 600 Value ETF 21.6 15 60 8.7 +3.3
AVUV Avantis U.S. Small Cap Value ETF 21.5 25 50 7.8 +2.4
PBSM Invesco PureBeta MSCI USA Small Cap ETF 21.3 6 69 5.0 -0.4
DES WisdomTree U.S. SmallCap Dividend Fund 21.0 38 37 8.3 +2.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 20.7 25 50 7.2 +1.8
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 20.3 39 36 4.5 -0.9
IJT iShares S&P Small-Cap 600 Growth ETF 20.2 25 50 5.4 -0.0
SLYG SPDR S&P 600 Small Cap Growth ETF 20.2 15 60 5.3 -0.1
VIOG Vanguard S&P Small-Cap 600 Growth ETF 20.2 16 59 5.3 -0.2
IUSS Invesco Strategic US Small Company ETF 20.1 23 52 5.1 -0.3
PXSG Invesco S&P SmallCap Momentum ETF 19.9 39 36 3.8 -1.6
RWJ Invesco S&P SmallCap 600 Revenue ETF 19.6 39 36 6.9 +1.5
IJK iShares S&P Mid-Cap 400 Growth ETF 19.5 24 51 4.8 -0.6
FYC First Trust Small Cap Growth AlphaDEX Fund 19.3 70 5 1.9 -3.6
JHSC John Hancock Multifactor Small Cap ETF 19.2 42 33 5.5 +0.1
FYT First Trust Small Cap Value AlphaDEX Fund 18.4 72 3 9.3 +3.9
EWMC Invesco S&P MidCap 400 Equal Weight ETF 18.3 40 35 7.1 +1.7
FNX First Trust Mid Cap Core AlphaDEX Fund 18.3 61 14 6.3 +0.9
VFMF Vanguard U.S. Multifactor ETF 17.8 19 56 7.2 +1.8
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 17.5 20 55 4.6 -0.8
SMDY Syntax Stratified MidCap ETF 17.4 30 45 6.6 +1.2
RNSC Small Cap US Equity Select ETF 16.9 60 15 6.9 +1.5
VTWV Vanguard Russell 2000 Value Index Fund 16.9 15 60 6.8 +1.4
MDY SPDR S&P Midcap 400 ETF Trust 16.8 23 52 6.2 +0.8
SPMD SPDR Portfolio Mid Cap ETF 16.8 5 70 6.4 +1.0
IJH iShares Core S&P Mid-Cap ETF 16.8 5 70 6.4 +1.0
FAD First Trust Multi Cap Growth AlphaDEX Fund 16.6 66 9 2.3 -3.1
BUY USCF SummerHaven SHPEI Index Fund 16.5 80 -5 8.6 +3.1
IJJ iShares S&P Mid-Cap 400 Value ETF 16.5 25 50 8.1 +2.7
VBK Vanguard Small-Cap Growth Index Fund 16.0 7 68 2.2 -3.2
VB Vanguard Small-Cap ETF 15.9 5 70 5.2 -0.3
XMMO Invesco S&P MidCap Momentum ETF 15.8 34 41 3.8 -1.6
VFQY Vanguard U.S. Quality Factor ETF 15.7 13 62 6.3 +0.9
IVOO Vanguard S&P Mid-Cap 400 ETF 15.7 10 65 6.2 +0.8
MDYG SPDR S&P 400 Mid Cap Growth ETF 15.6 15 60 4.9 -0.5
BFOR Barron's 400 ETF 15.5 65 10 6.4 +1.0
VUSE Vident Core US Equity Fund 15.4 48 27 8.8 +3.4
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 15.2 29 46 5.7 +0.2
VFMO Vanguard U.S. Momentum Factor ETF 15.0 13 62 0.7 -4.7
VBR Vanguard Small Cap Value Index Fund 14.8 7 68 7.9 +2.5
EZM WisdomTree U.S. MidCap Earnings Fund 14.7 38 37 8.6 +3.2
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 14.5 15 60 4.8 -0.6
DWAS Invesco DWA SmallCap Momentum ETF 14.0 60 15 -2.1 -7.5
RZG Invesco S&P Smallcap 600 Pure Growth ETF 13.9 35 40 5.8 +0.4
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 13.7 12 63 7.4 +2.0
XSLV Invesco S&P SmallCap Low Volatility ETF 13.2 25 50 5.5 +0.1
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 12.8 30 45 5.5 +0.1
JKL iShares Morningstar Small Cap Value ETF 12.8 30 45 9.8 +4.4
CALF Pacer US Small Cap Cash Cows 100 ETF 12.8 59 16 9.0 +3.6
RWK Invesco S&P MidCap 400 Revenue ETF 12.7 39 36 7.9 +2.5
MDYV SPDR S&P 400 Mid Cap Value ETF 12.6 15 60 8.3 +2.9
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 12.6 20 55 9.1 +3.7
XSHQ Invesco S&P SmallCap Quality ETF 12.4 29 46 6.6 +1.2
VXF Vanguard Extended Market Index Fund 12.4 6 69 3.5 -1.9
JKJ iShares Morningstar Small-Cap ETF 12.0 25 50 6.3 +0.8
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 12.0 38 37 8.4 +3.0
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 11.6 7 68 5.1 -0.3
RFG Invesco S&P Midcap 400 Pure Growth ETF 11.6 35 40 3.9 -1.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.6 15 60 8.2 +2.8
VAMO Cambria Value & Momentum ETF 11.6 63 12 6.1 +0.7
SFYX Sofi Next 500 ETF 11.1 0 75 5.7 +0.3
XSVM Invesco S&P SmallCap Value with Momentum ETF 11.0 39 36 9.1 +3.7

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 11.5 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 5.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 CATEGORY
AVERAGE
1.51
 
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.