ETF Research Center

The First Trust Dow 30 Equal Weight ETF tracks an equal-weighted index of companies included in the Dow Jones Industrial Average.

FUND BASICS
Category	US Equities
Fund Sponsor	First Trust
Website	www.ftportfolios.com
Inception date	Aug 09, 2017
Assets (mns)	$40
Currency	USD
Expense ratio	50 bp
Distributions	Quarterly

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	30
Wgt avg mkt cap (mns)	$288,450
Large cap (>$10bn)	100.0%
Mid cap ($2-10bn)	0.0%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	35.3 %
MICROSOFT CORP	3.8 %
APPLE INC	3.8 %
WAL-MART STORES INC	3.7 %
PROCTER & GAMBLE CO/THE	3.6 %
CATERPILLAR INC	3.4 %
CISCO SYSTEMS INC	3.4 %
WALT DISNEY CO/THE	3.4 %
HOME DEPOT INC	3.4 %
UNITEDHEALTH GROUP INC	3.4 %
GOLDMAN SACHS GROUP INC	3.4 %

TOP COUNTRY EXPOSURE
	UNITED STATES	99.8 %

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.
-9.4%	-2.2%	--	--	8.1%

Market Correlations
versus...	Beta	R-squared
S&P500	0.93	95%
MSCI EAFE	0.92	81%
MSCI Emg. Mkts.	0.66	63%

Technical Indicators
Recent close	$23.38
30d moving avg.	$23.67
Annualized volatility	16.6%
Short interest (ETF)	1.9%
Relative strength (RSI)	50

Liquidity measures
Avg. volume (thou.)	41
Turnover	2.4%
Bid/Ask (% of price)	0.44%
ADV underlying (mns)	$62,799

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the First Trust Dow 30 Equal Weight ETF ETF based on the alternatives' overlap in portfolio holdings with EDOW. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

EDOW

Expense:

50 bp

ALTAR Score™:

6.0%

ALTERNATIVE ETFs BASED ON OVERLAP WITH EDOW
Ticker	Fund Name	Overlap¹ vs EDOW (%)	Expense ratio (bp)	Savings vs EDOW (bp)	ALTAR Score™ (%)	ALTAR vs EDOW (%)
DJD	Invesco Dow Jones Industrial Average Dividend ETF	76.7	7	43	6.9	+0.9
DIA	SPDR Dow Jones Industrial Average ETF Trust	76.2	16	34	5.6	-0.4
DIVO	Amplify YieldShares CWP Dividend & Option Income ETF	56.6	49	1	4.9	-1.2
USMC	Principal U.S. Mega-Cap Multi-Factor Index ETF	44.9	12	38	4.8	-1.3
OUSA	O'Shares FTSE US Quality Dividend ETF	42.4	48	2	5.7	-0.3
JKF	iShares Morningstar Large Cap Value ETF	40.8	25	25	7.6	+1.6
DGRO	iShares Core Dividend Growth ETF	39.9	8	42	6.7	+0.6
MGV	Vanguard Mega Cap Value ETF	38.3	7	43	7.3	+1.3
QDEF	FlexShares Quality Dividend Defensive Index Fund	37.8	37	13	5.9	-0.1
RAFE	PIMCO RAFI ESG U.S. ETF	37.7	29	21	7.8	+1.8
DLN	WisdomTree U.S. LargeCap Dividend Fund	37.4	28	22	6.4	+0.4
PFM	Invesco Dividend Achievers ETF	37.3	54	-4	5.5	-0.5
XLG	Invesco S&P 500 Top 50 ETF	35.9	20	30	4.4	-1.6
IWX	iShares Russell Top 200 Value ETF	35.3	20	30	7.2	+1.2
FDRR	Fidelity Dividend ETF for Rising Rates	35.0	29	21	7.0	+1.0
VYM	Vanguard High Dividend Yield Index ETF	34.7	6	44	7.4	+1.4
DTD	WisdomTree U.S.Total Dividend Fund	34.2	28	22	6.7	+0.7
OEF	iShares S&P 100 ETF	34.1	20	30	4.8	-1.3
QUAL	iShares MSCI Usa Quality Factor ETF	33.8	15	35	5.4	-0.6
HDIV	QRAFT AI-Enhanced U.S. High Dividend ETF	33.8	75	-25	6.2	+0.2
BVAL	Brand Value ETF	33.5	65	-15	6.1	+0.1
SPHQ	Invesco S&P 500 Quality ETF	33.1	15	35	4.6	-1.4
VIG	Vanguard Dividend Appreciation Index Fund	33.1	6	44	5.4	-0.6
VTV	Vanguard Value Index Fund	32.9	4	46	7.5	+1.5
QDF	FlexShares Quality Dividend Index Fund	32.9	37	13	6.1	+0.1
FDVV	Fidelity Core Dividend ETF	32.6	29	21	7.2	+1.2
DIVB	iShares U.S. Dividend & Buyback ETF	31.9	25	25	6.6	+0.6
CCOR	Core Alternative ETF	31.3	123	-73	4.4	-1.7
YLDE	ClearBridge Dividend Strategy ESG ETF	31.1	60	-10	5.0	-1.0
EPS	WisdomTree U.S. Earnings 500 Fund	30.8	8	42	6.5	+0.5
VSMV	VictoryShares US Multi-Factor Minimum Volatility ETF	29.9	35	15	6.7	+0.7
NULV	Nuveen ESG Large-Cap Value ETF	29.5	35	15	7.4	+1.4
QDYN	FlexShares Quality Dividend Dynamic Index Fund	29.3	37	13	6.2	+0.2
FDLO	Fidelity Low Volatility Factor ETF	29.3	29	21	5.2	-0.9
QARP	Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	29.3	19	31	5.7	-0.3
NACP	Impact Shares NAACP Minority Empowerment ETF	29.2	75	-25	4.5	-1.5
FNDX	Schwab Fundamental U.S. Large Co. Index ETF	29.0	25	25	6.6	+0.6
FMK	First Trust Mega Cap AlphaDEX Fund	28.9	70	-20	5.2	-0.9
IOO	iShares Global 100 ETF	28.9	40	10	4.7	-1.4
SCHV	Schwab U.S. Large-Cap Value ETF	28.8	4	46	7.2	+1.2
QUS	SPDR MSCI USA StrategicFactors ETF	28.8	15	35	5.9	-0.2
DGRW	WisdomTree U.S. Quality Dividend Growth Fund	28.8	28	22	6.5	+0.5
HDV	iShares Core High Dividend ETF	28.7	8	42	6.8	+0.8
IWL	iShares Russell Top 200 ETF	28.7	15	35	5.0	-1.0
EQWL	Invesco Russell Top 200 Equal Weight ETF	28.6	25	25	6.1	+0.1
BKLC	BNY Mellon US Large Cap Core Equity ETF	28.3	0	50	5.2	-0.8
SPYV	SPDR Portfolio S&P 500 Value ETF	28.2	4	46	7.5	+1.5
IVE	iShares S&P 500 Value ETF	28.2	18	32	7.3	+1.3
VOOV	Vanguard S&P 500 Value ETF	28.1	15	35	7.4	+1.4
ACIO	Aptus Collared Income Opportunity ETF	28.1	79	-29	4.4	-1.7
MGC	Vanguard Mega Cap Index Fund	27.9	7	43	5.2	-0.8
ESG	FlexShares STOXX US ESG Impact Index Fund	27.9	32	18	5.1	-1.0
RFDA	RiverFront Dynamic US Dividend Advantage ETF	27.9	52	-2	5.0	-1.0
FVAL	Fidelity Value Factor ETF	27.2	29	21	8.0	+2.0
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	27.2	20	30	5.0	-1.1
FNDB	Schwab Fundamental U.S. Broad Market Index ETF	27.1	25	25	6.6	+0.6
PRF	Invesco FTSE RAFI US 1000 ETF	26.7	39	11	6.9	+0.9
SPUS	SP Funds S&P 500 Sharia Industry Exclusions ETF	26.6	49	1	4.1	-1.9
IUSV	iShares Core S&P U.S. Value ETF	26.4	4	46	7.6	+1.5
USSG	Xtrackers MSCI USA ESG Leaders Equity ETF	26.2	10	40	5.3	-0.7
QLV	FlexShares US Quality Low Volatility Index Fund	26.2	22	28	4.9	-1.2
WOMN	Impact Shares YWCA Women's Empowerment ETF	26.2	75	-25	4.5	-1.5
SNPE	Xtrackers S&P 500 ESG ETF	26.1	11	39	5.1	-0.9
SUSL	iShares ESG MSCI USA Leaders ETF	26.1	10	40	5.3	-0.7
SPXN	ProShares S&P 500 Ex-Financials ETF	26.1	27	23	5.0	-1.1
DURA	VanEck Vectors Morningstar Durable Dividend ETF	26.1	29	21	7.3	+1.3
FQAL	Fidelity Quality Factor ETF	26.0	29	21	5.5	-0.5
PBP	Invesco S&P 500 BuyWrite ETF	25.9	49	1	5.0	-1.0
FLLV	Franklin Liberty U.S. Low Volatility ETF	25.9	29	21	5.9	-0.1
IUS	Invesco Strategic US ETF	25.8	19	31	6.7	+0.7
HSPX	Global X S&P 500 Covered Call ETF	25.6	65	-15	4.9	-1.1
RECS	Columbia Research Enhanced Core ETF	25.5	15	35	5.7	-0.4
SPY	SPDR S&P 500 ETF Trust	25.5	9	41	5.4	-0.7
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	25.5	29	21	6.3	+0.3
IVV	iShares Core S&P 500 ETF	25.5	4	46	5.4	-0.6
JQUA	JPMorgan U.S. Quality Factor ETF	25.5	12	38	5.3	-0.8
SPLG	SPDR Portfolio Large Cap ETF	25.5	3	47	5.4	-0.6
QLC	FlexShares US Quality Large Cap Index Fund	25.5	32	18	5.4	-0.7
VOO	VANGUARD S&P 500 ETF	25.4	3	47	5.4	-0.6
GBDV	Global Beta Smart Income ETF	25.3	29	21	9.0	+3.0
PLC	Principal U.S. Large-Cap Multi-Factor Core Index ETF	25.3	15	35	6.2	+0.2
HLAL	Wahed FTSE USA Shariah ETF	25.2	50	0	4.6	-1.4
GSUS	Goldman Sachs MarketBeta U.S. Equity ETF	25.0	7	43	5.2	-0.8
VONV	Vanguard Russell 1000 Value Index Fund	24.9	8	42	7.4	+1.3
VV	Vanguard Large-Cap Index Fund	24.8	4	46	5.3	-0.8
SPXE	ProShares S&P 500 Ex-Energy ETF	24.6	27	23	5.3	-0.7
BBUS	JP Morgan Betabuilders U.S. Equity ETF	24.6	2	48	5.3	-0.7
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free ETF	24.5	20	30	5.4	-0.7
RWL	Invesco S&P 500 Revenue ETF	24.5	39	11	7.3	+1.3
PBUS	Invesco PureBeta MSCI USA ETF	24.4	4	46	5.3	-0.7
ESGU	iShares MSCI USA ESG Optimized ETF	24.4	15	35	5.1	-0.9
SPTM	SPDR Portfolio Total Stock Market ETF	24.1	3	47	5.5	-0.5
SCHX	Schwab U.S. Large-Cap ETF	24.1	3	47	5.3	-0.7
SDGA	Impact Shares Sustainable Development Goals Global ETF	24.0	75	-25	5.4	-0.6
SPXV	ProShares S&P 500 Ex-Health Care ETF	23.9	27	23	5.0	-1.0
IWD	iShares Russell 1000 Value ETF	23.8	19	31	7.2	+1.2
VONE	Vanguard Russell 1000 ETF	23.7	8	42	5.3	-0.7
SCHK	Schwab 1000 Index ETF	23.5	5	45	5.3	-0.7
IWB	iShares Russell 1000 ETF	23.4	15	35	5.2	-0.8
VEGN	US Vegan Climate ETF	23.4	60	-10	5.2	-0.8

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	**	**	**	**	**	**	**
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 Dow 30 Equal Weight 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	18.3	%
Divided by: Fwd. P/BV	2.8	x
Less: Expense ratio	50	bp
Equals: ALTAR Score	6.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.54	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.