First Trust EIP Carbon Impact
ALTAR
Score™
3.1% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
27.2x P/Sales
ratio
3.1x
P/BV
ratio
2.5x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First EIP Carbon Impact ETF tracks an index of developed-economy equities of companies committed to a reduction of carbon emissions.

FUND BASICS
Category Global Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Aug 19, 2019
Assets (mns) $2
Currency USD
Expense ratio 95 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 29
Wgt avg mkt cap (mns) $24,015
Large cap (>$10bn) 73.3%
Mid cap ($2-10bn) 26.7%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
NEXTERA ENERGY PARTNERS LP 7.2 %
EVERSOURCE ENERGY 6.3 %
CMS ENERGY CORP 6.0 %
XCEL ENERGY INC 5.9 %
NEXTERA ENERGY GROUP 5.5 %
ALLIANT ENERGY CORP 5.2 %
SEMPRA ENERGY 4.7 %
TC PIPELINES LP 4.6 %
AMERICAN WATER WORKS CO INC 4.5 %
WEC ENERGY GROUP INC 4.4 %
Total 54.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 76.9 %
CANADA 7.3 %
BERMUDA 2.3 %
DENMARK 2.0 %
SPAIN 1.1 %
BRITAIN 0.6 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.7% -- -- -- 0.7%

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

Technical Indicators
Recent close $22.09
30d moving avg. $21.03
Annualized volatility 0.0%
Short interest (ETF) 1.7%
Relative strength (RSI) 79

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.0%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $2,288

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 19 potential alternatives to the First Trust EIP Carbon Impact ETF based on the alternatives' overlap in portfolio holdings with ECLN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ECLN Expense: 95 bp ALTAR Score™: 3.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ECLN
Ticker Fund
Name
Overlap1
vs ECLN
(%)
Expense
ratio
(bp)
Savings
vs ECLN
(bp)
ALTAR
Score™
(%)
ALTAR
vs ECLN
(%)
UTES Reaves Utilities 48.4 49 46 4.0 +0.9
RYU Invesco S&P Equal Weight Utilities 43.8 40 55 4.7 +1.6
EMLP First Trust N. American Energy Infrastructure 40.9 95 0 4.6 +1.5
XLU Utilities Select Sector SPDR 39.5 13 82 4.8 +1.7
IDU iShares DJ US Utilities 37.9 43 52 4.5 +1.4
JHMU John Hancock Multifactor Utilities 37.8 40 55 4.8 +1.7
FUTY Fidelity MSCI Utilities 37.1 8 87 4.8 +1.7
VPU Vanguard Utilities ETF 36.9 10 85 4.7 +1.7
PUI Invesco DWA Utilities Momentum 34.2 60 35 3.8 +0.7
JXI iShares S&P Global Utilities 30.8 46 49 4.9 +1.8
DVOL First Trust Dorsey Wright Momentum & Low Volatility 23.6 60 35 4.2 +1.1
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 20.4 99 -4 3.4 +0.3
GII SPDR FTSE/Macquarie Global Infrastructure 18.5 40 55 4.6 +1.5
IGF iShares S&P Global Infrastructure 18.5 46 49 4.5 +1.5
FXU First Trust Utilities Alphadex 18.2 63 32 5.1 +2.0
GLIF AGFiQ Global Infrastructure 16.4 45 50 4.9 +1.8
DVY iShares Select Dividend 14.7 39 56 7.7 +4.6
TOLZ ProShares Global Infrastructure 14.5 46 49 4.9 +1.8
SPLV Invesco S&P 500 Low Volatility 14.2 25 70 5.0 +1.9

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
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

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
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 EIP Carbon Impact
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 9.7 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 95 bp
Equals: ALTAR Score 3.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 CATEGORY
AVERAGE
1.54
 
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.