First Trust Active Factor Small Cap ETF
ALTAR
Score™
5.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
29.9x P/Sales
ratio
1.2x
P/BV
ratio
2.0x Div.
yield
1.6%


  • 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 357
Wgt avg mkt cap (mns) $2,987
Large cap (>$10bn) 3.4%
Mid cap ($2-10bn) 53.8%
Small cap (<$2bn) 42.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GENERAC HOLDINGS INC 1.2 %
QUIDEL CORP 1.2 %
LHC GROUP INC 1.2 %
AMEDISYS INC 1.0 %
TELADOC INC 1.0 %
BOISE CASCADE CO 0.9 %
PLEXUS CORP 0.9 %
KINSALE CAPITAL GROUP, INC. 0.9 %
BMC STOCK HOLDINGS, INC. 0.9 %
RENT-A-CENTER INC 0.7 %
Total 9.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.7 %
BERMUDA 0.7 %
CANADA 0.4 %
BRITAIN 0.2 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.8% -- -- -- -13.8%

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

Technical Indicators
Recent close $18.57
30d moving avg. $17.52
Annualized volatility 0.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.0%
Bid/Ask (% of price) 0.28%
ADV underlying (mns) $9,249

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™: 5.2%


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 37.1 24 51 6.5 +1.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 34.9 29 46 4.6 -0.6
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 33.0 30 45 7.2 +2.0
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 32.5 20 55 4.7 -0.5
FYX First Trust Small Cap Core AlphaDEX Fund 30.1 63 12 6.1 +0.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 29.7 35 40 5.7 +0.5
SPSM SPDR Portfolio Small Cap ETF 29.1 5 70 6.5 +1.3
SLY SPDR S&P 600 Small Cap ETF 29.1 15 60 6.4 +1.3
IJR iShares Core S&P Small Cap ETF 29.0 7 68 6.5 +1.3
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 28.7 35 40 7.6 +2.4
VIOO Vanguard S&P Small-Cap 600 ETF 28.7 10 65 6.5 +1.3
IWO iShares Russell 2000 Growth ETF 28.6 24 51 -0.1 -5.3
IWM iShares Russell 2000 ETF 28.6 19 56 3.4 -1.8
TPSC Timothy Plan US Small Cap Core ETF 28.1 52 23 7.6 +2.4
VTWG Vanguard Russell 2000 Growth Index Fund 28.0 15 60 -0.0 -5.2
VTWO Vanguard Russell 2000 Index Fund 27.8 10 65 3.5 -1.7
ROGS Hartford Multifactor Global Small Cap ETF 27.3 34 41 7.4 +2.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 26.0 40 35 6.0 +0.8
PSC Principal U.S. Small Cap Index ETF 25.9 38 37 6.3 +1.1
ISMD Inspire Small/Mid Cap Impact ETF 25.5 60 15 6.0 +0.8
SCHA Schwab U.S. Small-Cap ETF 25.5 4 71 4.4 -0.8
AFMC First Trust Active Factor Mid Cap ETF 25.1 65 10 5.9 +0.7
SSLY Syntax Stratified SmallCap ETF 25.1 30 45 5.9 +0.8
CSML IQ Chaikin U.S. Small Cap ETF 24.8 35 40 3.6 -1.6
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 24.5 35 40 7.7 +2.5
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 24.0 29 46 0.0 -5.2
VIOG Vanguard S&P Small-Cap 600 Growth ETF 23.7 16 59 4.9 -0.3
FSMD Fidelity Small-Mid Factor ETF 23.5 29 46 6.6 +1.4
SLYG SPDR S&P 600 Small Cap Growth ETF 23.3 15 60 5.0 -0.2
IJT iShares S&P Small-Cap 600 Growth ETF 23.3 25 50 4.9 -0.3
NUSC Nuveen ESG Small-Cap ETF 23.3 40 35 4.8 -0.4
EES WisdomTree SmallCap Earnings Fund 23.1 38 37 10.1 +4.9
JKK iShares Morningstar Small-Cap Growth ETF 23.0 30 45 1.1 -4.1
BKSE BNY Mellon US Small Cap Core Equity ETF 22.7 4 71 5.7 +0.6
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 22.6 17 58 4.8 -0.4
IWN iShares Russell 2000 Value ETF 22.3 24 51 6.7 +1.5
JHSC John Hancock Multifactor Small Cap ETF 22.3 42 33 5.6 +0.4
FYC First Trust Small Cap Growth AlphaDEX Fund 22.2 70 5 1.8 -3.4
SLYV SPDR S&P 600 Small Cap Value ETF 22.1 15 60 8.2 +3.0
IJS iShares S&P Small-cap 600 Value ETF 22.1 25 50 8.1 +2.9
DES WisdomTree U.S. SmallCap Dividend Fund 22.1 38 37 8.0 +2.8
VIOV Vanguard S&P Small-Cap 600 Value ETF 21.9 15 60 8.2 +3.0
PBSM Invesco PureBeta MSCI USA Small Cap ETF 21.4 6 69 5.0 -0.2
SQLV Legg Mason Small-Cap Quality Value 21.3 62 13 7.2 +2.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 20.7 39 36 3.9 -1.3
AVUV Avantis U.S. Small Cap Value ETF 20.7 25 50 8.0 +2.8
FNDA Schwab Fundamental U.S. Small Co. Index ETF 20.6 25 50 6.0 +0.9
FYT First Trust Small Cap Value AlphaDEX Fund 20.5 72 3 9.2 +4.1
IUSS Invesco Strategic US Small Company ETF 19.9 23 52 4.9 -0.3
RWJ Invesco S&P SmallCap 600 Revenue ETF 19.4 39 36 5.8 +0.6
VTWV Vanguard Russell 2000 Value Index Fund 19.0 15 60 6.9 +1.7
VFMF Vanguard U.S. Multifactor ETF 18.7 19 56 6.7 +1.5
PXSG Invesco S&P SmallCap Momentum ETF 18.2 39 36 4.6 -0.6
RNSC Small Cap US Equity Select ETF 18.0 60 15 6.8 +1.6
FNY First Trust Mid Cap Growth AlphaDEX Fund 17.8 70 5 2.0 -3.2
EWMC Invesco S&P MidCap 400 Equal Weight ETF 17.8 40 35 6.6 +1.4
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 17.5 20 55 4.5 -0.7
DWAS Invesco DWA SmallCap Momentum ETF 17.3 60 15 -2.3 -7.5
SMDY Syntax Stratified MidCap ETF 17.1 30 45 5.9 +0.7
VB Vanguard Small-Cap ETF 17.0 5 70 5.2 -0.0
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 17.0 29 46 5.7 +0.5
BUY USCF SummerHaven SHPEI Index Fund 16.7 80 -5 8.5 +3.3
VBK Vanguard Small-Cap Growth Index Fund 16.6 7 68 2.2 -3.0
FNX First Trust Mid Cap Core AlphaDEX Fund 16.4 61 14 6.3 +1.1
RZG Invesco S&P Smallcap 600 Pure Growth ETF 16.4 35 40 5.6 +0.4
VUSE Vident Core US Equity Fund 16.1 48 27 8.4 +3.2
VBR Vanguard Small Cap Value Index Fund 15.9 7 68 7.9 +2.7
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 15.5 12 63 7.1 +1.9
VFMO Vanguard U.S. Momentum Factor ETF 15.4 13 62 0.1 -5.1
BFOR Barron's 400 ETF 14.9 65 10 5.9 +0.8
FAD First Trust Multi Cap Growth AlphaDEX Fund 14.6 66 9 2.2 -3.0
MDY SPDR S&P Midcap 400 ETF Trust 14.6 23 52 6.0 +0.8
SPMD SPDR Portfolio Mid Cap ETF 14.5 5 70 6.2 +1.0
IJH iShares Core S&P Mid-Cap ETF 14.5 6 69 6.2 +1.0
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 14.4 30 45 5.4 +0.2
IVOO Vanguard S&P Mid-Cap 400 ETF 14.2 10 65 6.1 +0.9
EZM WisdomTree U.S. MidCap Earnings Fund 14.0 38 37 8.6 +3.4
XSHQ Invesco S&P SmallCap Quality ETF 13.8 29 46 6.1 +0.9
XSLV Invesco S&P SmallCap Low Volatility ETF 13.7 25 50 5.7 +0.5
MDYG SPDR S&P 400 Mid Cap Growth ETF 13.6 15 60 4.7 -0.5
IJK iShares S&P Mid-Cap 400 Growth ETF 13.6 24 51 4.6 -0.6
VXF Vanguard Extended Market Index Fund 13.4 7 68 3.5 -1.7
VFQY Vanguard U.S. Quality Factor ETF 13.4 13 62 5.7 +0.5
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 13.4 15 60 4.7 -0.5
JKJ iShares Morningstar Small-Cap ETF 13.3 25 50 6.3 +1.1
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 13.0 20 55 8.9 +3.7
VAMO Cambria Value & Momentum ETF 12.7 64 11 6.3 +1.1
JKL iShares Morningstar Small Cap Value ETF 12.6 30 45 9.6 +4.5
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 12.0 38 37 8.2 +3.0
XSVM Invesco S&P SmallCap Value with Momentum ETF 11.8 39 36 9.1 +3.9
JSML Janus Henderson Small Cap Growth Alpha ETF 11.7 30 45 7.2 +2.1
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 11.6 7 68 5.2 +0.1
RWK Invesco S&P MidCap 400 Revenue ETF 11.5 39 36 7.3 +2.1
SFYX Sofi Next 500 ETF 11.3 0 75 5.7 +0.5
FAB First Trust Multi Cap Value AlphaDEX Fund 11.2 71 4 9.4 +4.2
MDYV SPDR S&P 400 Mid Cap Value ETF 10.9 15 60 8.1 +2.9
IJJ iShares S&P Mid-Cap 400 Value ETF 10.9 25 50 8.0 +2.8
RFG Invesco S&P Midcap 400 Pure Growth ETF 10.6 35 40 3.8 -1.4
IVOV Vanguard S&P Mid-Cap 400 Value ETF 10.6 15 60 8.1 +2.9
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 10.4 35 40 8.7 +3.5

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 11.1 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.52 CATEGORY
AVERAGE
1.52
 
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.