First Trust Dorsey Wright Momentum & Low Volatility ETF
ALTAR
Score™
3.5% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
31.6x P/Sales
ratio
4.1x
P/BV
ratio
5.4x Div.
yield
0.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust Dorsey Wright Momentum & Low Volatility tracks a rules-based equity index consisting of the 50 stocks in the NASDAQ US Large Mid Index that exhibit the lowest levels of volatility while still maintaining high levels of relative strength.

FUND BASICS
Category US Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Sep 05, 2018
Assets (mns) $120
Currency USD
Expense ratio 60 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $118,138
Large cap (>$10bn) 86.4%
Mid cap ($2-10bn) 13.6%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MORNINGSTAR INC 3.1 %
ALPHABET INC. CLASS A 3.1 %
DOLLAR GENERAL CORP 3.0 %
AGILENT TECHNOLOGIES INC 2.9 %
MONSTER BEVERAGE CORPORATION 2.8 %
CHARTER COMMUNICATIONS, INC. CLASS 2.8 %
LIBERTY BROADBAND CORP. CLASS A 2.8 %
DANAHER CORP 2.8 %
BLACK KNIGHT FINANCIAL SERVICES, I 2.7 %
TORO CO 2.7 %
Total 28.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.1 %
IRELAND 3.5 %
SWITZERLAND 2.4 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.6% -0.2% -- -- 6.8%

Market Correlations
versus... Beta R-squared
S&P500 0.77 70%
MSCI EAFE 0.83 65%
MSCI Emg. Mkts. 0.58 48%

Technical Indicators
Recent close $23.60
30d moving avg. $23.24
Annualized volatility 19.1%
Short interest (ETF) 0.1%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 28
Turnover 0.6%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $28,704

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the First Trust Dorsey Wright Momentum & Low Volatility ETF ETF based on the alternatives' overlap in portfolio holdings with DVOL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DVOL Expense: 60 bp ALTAR Score™: 3.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DVOL
Ticker Fund
Name
Overlap1
vs DVOL
(%)
Expense
ratio
(bp)
Savings
vs DVOL
(bp)
ALTAR
Score™
(%)
ALTAR
vs DVOL
(%)
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 29.9 25 35 5.6 +2.1
SPLV Invesco S&P 500 Low Volatility ETF 26.4 25 35 5.5 +1.9
FTCS First Trust Capital Strength ETF 23.3 58 2 5.0 +1.5
NULG Nuveen ESG Large-Cap Growth ETF 21.6 35 25 3.5 -0.0
DEF Invesco Defensive Equity ETF 21.1 55 5 5.0 +1.5
PDP Invesco DWA Momentum ETF 20.3 62 -2 1.9 -1.6
PWB Invesco Dynamic Large Cap Growth ETF 20.2 56 4 3.2 -0.3
FLLV Franklin Liberty U.S. Low Volatility ETF 19.4 29 31 5.2 +1.6
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 19.0 99 -39 1.4 -2.1
AFLG First Trust Active Factor Large Cap ETF 17.6 55 5 4.9 +1.3
SPMO Invesco S&P 500 Momentum ETF 17.3 13 47 3.9 +0.4
RYH Invesco S&P 500 Equal Weight Health Care ETF 17.2 40 20 6.7 +3.2
FVL First Trust Value Line 100 Exchange-Traded Fund 17.1 70 -10 4.9 +1.3
MTUM iShares MSCI USA Momentum Factor ETF 16.3 15 45 4.0 +0.5
FDLO Fidelity Low Volatility Factor ETF 16.3 29 31 4.9 +1.4
FTC First Trust Large Cap Growth AlphaDEX Fund 16.1 61 -1 2.3 -1.2
JKE iShares Morningstar Large-Cap Growth ETF 16.0 25 35 2.8 -0.7
PSL Invesco DWA Consumer Staples Momentum ETF 15.8 60 0 4.8 +1.3
LSLT Salt Low truBeta US Market ETF 15.8 60 0 5.6 +2.1
FDMO Fidelity Momentum Factor ETF 15.4 29 31 3.1 -0.4
RBUS Nationwide Risk-Based U.S. Equity ETF 15.4 30 30 4.7 +1.1
HUSV First Trust Horizon Managed Volatility Domestic ETF 15.0 70 -10 5.6 +2.0
GBLO Global Beta Low Beta ETF 14.7 29 31 7.1 +3.6
MGK Vanguard Mega Cap Growth ETF 14.6 7 53 3.8 +0.3
LEAD Reality Shares DIVCON Leaders Dividend ETF 14.1 43 17 4.2 +0.7
PSET Principal Price Setters Index ETF 14.0 15 45 4.6 +1.1
VOOG Vanguard S&P 500 Growth ETF 14.0 10 50 4.1 +0.5
JMOM JPMorgan U.S. Momentum Factor ETF 13.9 12 48 3.2 -0.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 13.8 60 0 3.8 +0.2
VUG Vanguard Growth Index Fund 13.8 4 56 3.7 +0.1
SPYG SPDR Portfolio S&P 500 Growth ETF 13.5 4 56 4.1 +0.6
IVW iShares S&P 500 Growth ETF 13.5 18 42 4.0 +0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 13.4 9 51 5.2 +1.7
KRMA Global X Conscious Companies ETF 13.4 43 17 4.8 +1.2
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 13.4 35 25 5.1 +1.6
SPXT ProShares S&P 500 Ex-Technology ETF 13.3 27 33 5.1 +1.6
JHMH John Hancock Multifactor Healthcare ETF 13.3 40 20 6.0 +2.5
ACIO Aptus Collared Income Opportunity ETF 13.2 79 -19 4.3 +0.8
IUSG iShares Core S&P US Growth ETF 13.1 4 56 4.1 +0.6
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 13.1 60 0 3.4 -0.1
USMF WisdomTree U.S. Multifactor Fund 13.1 28 32 5.5 +2.0
XLV Health Care Select Sector SPDR Fund 13.0 13 47 7.2 +3.7
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 12.8 60 0 6.8 +3.3
DFND Reality Shares DIVCON Dividend Defender ETF 12.8 144 -84 3.5 0.0
IWY iShares Russell Top 200 Growth ETF 12.8 20 40 3.7 +0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 12.7 12 48 4.1 +0.6
EXT WisdomTree U.S. Total Earnings Fund 12.7 28 32 5.2 +1.6
IWF iShares Russell 1000 Growth ETF 12.5 19 41 3.6 +0.0
JMIN JPMorgan U.S. Minimum Volatility ETF 12.5 12 48 5.3 +1.7
IQSU IQ Candriam ESG US Equity ETF 12.4 9 51 4.7 +1.2
IYH iShares U.S. Healthcare ETF 12.4 43 17 6.2 +2.7
ESGV Vanguard ESG U.S. Stock ETF 12.4 12 48 4.7 +1.1
JQUA JPMorgan U.S. Quality Factor ETF 12.4 12 48 5.1 +1.5
FHLC Fidelity MSCI Health Care Index ETF 12.3 8 52 5.5 +2.0
VONG Vanguard Russell 1000 Growth Index Fund 12.3 8 52 3.7 +0.2
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 12.1 20 40 7.0 +3.5
SCHG Schwab U.S. Large-Cap Growth ETF 12.1 4 56 3.3 -0.2
PTH Invesco DWA Healthcare Momentum ETF 12.1 60 0 -2.5 -6.1
JHCS John Hancock Multifactor Media & Communications ETF 12.1 40 20 5.1 +1.6
FLQL Franklin LibertyQ U.S. Equity ETF 12.1 15 45 5.8 +2.3
VHT Vanguard Health Care Index Fund 12.0 10 50 5.4 +1.8
LGLV SPDR Russell 1000 Low Volatility ETF 12.0 12 48 5.2 +1.7
SUSA iShares MSCI USA ESG Select ETF 11.8 25 35 4.4 +0.9
FFTY Innovator IBD 50 ETF 11.8 80 -20 3.8 +0.2
NULC Nuveen ESG Large-Cap ETF 11.7 20 40 4.6 +1.1
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 11.7 49 11 3.9 +0.3
NUMG Nuveen ESG Mid-Cap Growth ETF 11.5 40 20 2.0 -1.6
TTAC TrimTabs All Cap U.S. Free-Cash-Flow ETF 11.5 59 1 3.7 +0.2
SPXN ProShares S&P 500 Ex-Financials ETF 11.5 27 33 4.6 +1.0
EFIV SPDR S&P 500 ESG ETF 11.5 10 50 4.7 +1.2
KLCD KFA Large Cap Quality Dividend Index ETF 11.5 42 18 5.2 +1.7
SNPE Xtrackers S&P 500 ESG ETF 11.5 10 50 4.7 +1.2
QLC FlexShares US Quality Large Cap Index Fund 11.5 32 28 4.8 +1.3
VIRS Pacer BioThreat Strategy ETF 11.4 70 -10 4.6 +1.0
QGRO American Century STOXX U.S. Quality Growth ETF 11.3 29 31 3.1 -0.5
BKLC BNY Mellon US Large Cap Core Equity ETF 11.3 0 60 4.7 +1.2
USXF iShares ESG Advanced MSCI USA ETF 11.3 10 50 4.6 +1.0
PBP Invesco S&P 500 BuyWrite ETF 11.3 49 11 4.6 +1.1
PEXL Pacer US Export Leaders ETF 11.2 60 0 5.4 +1.9
FIW First Trust Water ETF 11.2 55 5 3.4 -0.2
HSPX Global X S&P 500 Covered Call ETF 11.2 60 0 4.6 +1.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 11.2 20 40 4.9 +1.4
MGC Vanguard Mega Cap Index Fund 11.2 7 53 4.8 +1.2
SPXE ProShares S&P 500 Ex-Energy ETF 11.1 27 33 4.9 +1.3
IWL iShares Russell Top 200 ETF 11.1 15 45 4.6 +1.0
FXH First Trust Health Care AlphaDEX Fund 11.1 62 -2 5.0 +1.4
ADME Aptus Drawdown Managed Equity ETF 11.1 79 -19 3.4 -0.1
JHML John Hancock Multifactor Large Cap ETF 11.1 29 31 5.0 +1.5
XLC The Communication Services Select Sector SPDR Fund 11.1 13 47 5.4 +1.8
XYLG Global X S&P 500 Covered Call & Growth ETF 11.0 60 0 4.6 +1.1
JHMC John Hancock Multifactor Consumer Discretionary ETF 11.0 40 20 3.6 +0.1
ECOZ TrueMark ESG Active Opportunities ETF 11.0 58 2 3.2 -0.3
SUSL iShares ESG MSCI USA Leaders ETF 11.0 10 50 4.9 +1.4
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 11.0 10 50 4.9 +1.4
SPY SPDR S&P 500 ETF Trust 11.0 9 51 4.9 +1.4
IVV iShares Core S&P 500 ETF 11.0 3 57 5.0 +1.5
SPLG SPDR Portfolio Large Cap ETF 11.0 3 57 5.0 +1.5
AIEQ AI Powered Equity ETF 11.0 87 -27 1.9 -1.7
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 10.9 30 30 5.2 +1.7
QYLD Global X NASDAQ 100 Covered Call ETF 10.9 60 0 3.3 -0.2

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 Dorsey Wright Momentum & Low Volatility ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 19.9 %
Divided by: Fwd. P/BV 4.8 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 3.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

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