First Trust Dorsey Wright Momentum & Low Volatility ETF
ALTAR
Score™
3.4% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
30.3x P/Sales
ratio
3.3x
P/BV
ratio
5.4x Div.
yield
1.3%


  • 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) $91
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) $124,064
Large cap (>$10bn) 90.7%
Mid cap ($2-10bn) 9.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMAZON.COM INC 3.9 %
BIO-TECHNE CORPORATION 3.3 %
CLOROX COMPANY 3.2 %
DANAHER CORP 3.0 %
CHURCH & DWIGHT CO INC 2.9 %
COSTCO WHOLESALE CORP 2.8 %
WEST PHARMACEUTICAL SERVICES 2.8 %
TYLER TECHNOLOGIES INC 2.8 %
CHARTER COMMUNICATIONS, INC. CLASS 2.7 %
APTARGROUP INC 2.7 %
Total 29.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.9 %
SWITZERLAND 2.0 %
IRELAND 1.2 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-7.6% -3.2% -- -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.78 70%
MSCI EAFE 0.83 66%
MSCI Emg. Mkts. 0.56 45%

Technical Indicators
Recent close $20.96
30d moving avg. $20.39
Annualized volatility 19.9%
Short interest (ETF) 0.0%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 28
Turnover 0.6%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $34,906

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™: 3.4%


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
(%)
SPLV Invesco S&P 500 Low Volatility ETF 38.1 25 35 5.7 +2.4
HUSV First Trust Horizon Managed Volatility Domestic ETF 34.5 70 -10 4.8 +1.4
LSLT Salt Low truBeta US Market ETF 26.8 29 31 6.1 +2.8
DEF Invesco Defensive Equity ETF 24.8 55 5 5.1 +1.7
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 23.8 25 35 6.0 +2.7
USMV iShares Edge MSCI Min Vol USA ETF 23.7 15 45 5.6 +2.2
VFMV Vanguard U.S. Minimum Volatility ETF 22.9 13 47 4.0 +0.6
ACIO Aptus Collared Income Opportunity ETF 22.8 79 -19 4.4 +1.0
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 22.6 12 48 4.8 +1.4
FLLV Franklin Liberty U.S. Low Volatility ETF 22.6 29 31 5.9 +2.5
FVL First Trust Value Line 100 Exchange-Traded Fund 21.9 70 -10 5.2 +1.8
FDLO Fidelity Low Volatility Factor ETF 20.9 29 31 5.2 +1.8
PSET Principal Price Setters Index ETF 20.6 29 31 4.6 +1.3
MTUM iShares Edge MSCI USA Momentum Factor ETF 19.6 15 45 4.0 +0.7
FTCS First Trust Capital Strength ETF 19.4 58 2 4.9 +1.6
VIRS Pacer BioThreat Strategy ETF 19.2 70 -10 4.5 +1.1
AFLG First Trust Active Factor Large Cap ETF 19.0 55 5 5.6 +2.2
VIG Vanguard Dividend Appreciation Index Fund 18.9 6 54 5.4 +2.1
SPXT ProShares S&P 500 Ex-Technology ETF 18.9 27 33 5.7 +2.4
VETS Pacer Military Times Best Employers ETF 18.6 60 0 7.2 +3.8
CCOR Core Alternative ETF 18.6 123 -63 4.4 +1.1
RBUS Nationwide Risk-Based U.S. Equity ETF 18.3 30 30 5.0 +1.7
XLG Invesco S&P 500 Top 50 ETF 18.1 20 40 4.4 +1.1
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 17.9 35 25 6.9 +3.5
LVUS Hartford Multifactor Low Volatility US Equity ETF 17.7 19 41 6.2 +2.9
AIEQ AI Powered Equity ETF 17.7 87 -27 3.6 +0.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 17.6 12 48 4.9 +1.5
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 17.5 60 0 6.3 +3.0
PFM Invesco Dividend Achievers ETF 17.4 54 6 5.5 +2.2
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 17.3 40 20 6.5 +3.2
QUS SPDR MSCI USA StrategicFactors ETF 17.2 15 45 5.9 +2.6
OEF iShares S&P 100 ETF 17.2 20 40 4.8 +1.4
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 17.2 60 0 5.5 +2.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 17.1 9 51 5.5 +2.2
PWB Invesco Dynamic Large Cap Growth ETF 17.1 55 5 3.3 -0.1
SPMV Invesco S&P 500 Minimum Variance ETF 17.0 10 50 5.9 +2.5
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 17.0 20 40 4.9 +1.6
IQSU IQ Candriam ESG US Equity ETF 16.9 9 51 5.0 +1.7
LGLV SPDR Russell 1000 Low Volatility ETF 16.9 12 48 5.8 +2.4
XOUT GraniteShares XOUT U.S. Large Cap ETF 16.8 60 0 4.3 +1.0
JMIN JPMorgan U.S. Minimum Volatility ETF 16.7 12 48 6.0 +2.6
SPXN ProShares S&P 500 Ex-Financials ETF 16.6 27 33 5.0 +1.6
BKLC BNY Mellon US Large Cap Core Equity ETF 16.3 0 60 5.2 +1.9
ADME Aptus Drawdown Managed Equity ETF 16.3 81 -21 3.5 +0.2
IWL iShares Russell Top 200 ETF 16.2 15 45 5.0 +1.7
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 16.2 99 -39 2.2 -1.1
USMF WisdomTree U.S. Multifactor Fund 16.2 28 32 5.5 +2.1
MGC Vanguard Mega Cap Index Fund 16.2 7 53 5.2 +1.9
SPXE ProShares S&P 500 Ex-Energy ETF 16.1 27 33 5.3 +2.0
PBP Invesco S&P 500 BuyWrite ETF 16.1 49 11 5.0 +1.7
WOMN Impact Shares YWCA Women's Empowerment ETF 16.0 75 -15 4.5 +1.2
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 15.9 20 40 5.4 +2.0
JHMS John Hancock Multifactor Consumer Staples ETF 15.9 40 20 6.0 +2.7
SPY SPDR S&P 500 ETF Trust 15.8 9 51 5.4 +2.0
HSPX Global X S&P 500 Covered Call ETF 15.8 65 -5 4.9 +1.5
SPLG SPDR Portfolio Large Cap ETF 15.8 3 57 5.4 +2.1
IVV iShares Core S&P 500 ETF 15.8 4 56 5.4 +2.1
VOO VANGUARD S&P 500 ETF 15.7 3 57 5.4 +2.1
SFY SoFi Select 500 ETF 15.6 0 60 5.2 +1.9
VSDA VictoryShares Dividend Accelerator ETF 15.6 35 25 5.0 +1.6
NACP Impact Shares NAACP Minority Empowerment ETF 15.6 75 -15 4.5 +1.2
QLV FlexShares US Quality Low Volatility Index Fund 15.5 22 38 4.9 +1.5
EXT WisdomTree U.S. Total Earnings Fund 15.5 28 32 5.2 +1.9
IYC iShares U.S. Consumer Services ETF 15.4 42 18 4.1 +0.7
JKD iShares Morningstar Large-Cap ETF 15.4 20 40 5.7 +2.3
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 15.4 75 -15 3.7 +0.4
FDMO Fidelity Momentum Factor ETF 15.3 29 31 3.8 +0.4
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 15.3 7 53 5.2 +1.9
PBUS Invesco PureBeta MSCI USA ETF 15.3 4 56 5.3 +1.9
VV Vanguard Large-Cap Index Fund 15.2 4 56 5.3 +1.9
SCHX Schwab U.S. Large-Cap ETF 15.2 3 57 5.3 +1.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 15.1 2 58 5.3 +2.0
SPTM SPDR Portfolio Total Stock Market ETF 15.1 3 57 5.5 +2.2
QLC FlexShares US Quality Large Cap Index Fund 15.1 32 28 5.4 +2.0
VONE Vanguard Russell 1000 ETF 14.9 8 52 5.3 +1.9
ECOZ TrueMark ESG Active Opportunities ETF 14.9 58 2 4.3 +0.9
SCHK Schwab 1000 Index ETF 14.9 5 55 5.3 +1.9
JMOM JPMorgan U.S. Momentum Factor ETF 14.8 12 48 3.8 +0.5
IWB iShares Russell 1000 ETF 14.8 15 45 5.2 +1.8
IYY iShares Dow Jones U.S. ETF 14.8 20 40 5.2 +1.8
EQWL Invesco Russell Top 200 Equal Weight ETF 14.7 25 35 6.2 +2.9
FTC First Trust Large Cap Growth AlphaDEX Fund 14.7 61 -1 2.8 -0.5
SYE SPDR MFS Systematic Core Equity ETF 14.7 60 0 5.6 +2.2
SNPE Xtrackers S&P 500 ESG ETF 14.6 11 49 5.1 +1.7
SPYG SPDR Portfolio S&P 500 Growth ETF 14.5 4 56 4.3 +0.9
IVW iShares S&P 500 Growth ETF 14.5 18 42 4.1 +0.8
QDEF FlexShares Quality Dividend Defensive Index Fund 14.5 37 23 5.9 +2.6
FMK First Trust Mega Cap AlphaDEX Fund 14.5 70 -10 5.2 +1.8
VOOG Vanguard S&P 500 Growth ETF 14.5 10 50 4.2 +0.8
SCHV Schwab U.S. Large-Cap Value ETF 14.4 4 56 7.4 +4.0
SCHB Schwab U.S. Broad Market ETF 14.4 3 57 5.3 +1.9
KRMA Global X Conscious Companies ETF 14.4 43 17 5.2 +1.9
VTI Vanguard Total Stock Market Index Fund 14.4 3 57 5.2 +1.8
ITOT iShares Core S&P Total U.S. Stock Market ETF 14.4 3 57 5.2 +1.8
VTHR Vanguard Russell 3000 Index Fund 14.4 10 50 5.2 +1.8
IUSG iShares Core S&P US Growth ETF 14.3 4 56 4.3 +0.9
ESGU iShares MSCI USA ESG Optimized ETF 14.3 15 45 5.1 +1.8
IWV iShares Russell 3000 ETF 14.3 20 40 5.1 +1.7
ALFA AlphaClone Alternative Alpha ETF 14.3 65 -5 3.4 0.0
IWX iShares Russell Top 200 Value ETF 14.2 20 40 7.3 +4.0

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:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 19.8 %
Divided by: Fwd. P/BV 5.0 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 3.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 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.