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)	$44
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)	$278,366
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	35.7 %
APPLE INC	3.9 %
DOW, INC.	3.8 %
INTEL CORP	3.6 %
CATERPILLAR INC	3.6 %
UNITEDHEALTH GROUP INC	3.6 %
JPMORGAN CHASE & CO	3.5 %
UNITED TECHNOLOGIES CORP	3.5 %
MICROSOFT CORP	3.5 %
WALGREENS BOOTS ALLIANCE INC	3.4 %
NIKE INC -CL B	3.3 %

TOP COUNTRY EXPOSURE
	UNITED STATES	99.8 %

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.
17.7%	11.0%	--	--	12.9%

Market Correlations
versus...	Beta	R-squared
S&P500	0.90	93%
MSCI EAFE	0.89	71%
MSCI Emg. Mkts.	0.65	58%

Technical Indicators
Recent close	$25.30
30d moving avg.	$24.64
Annualized volatility	13.0%
Short interest (ETF)	0.0%
Relative strength (RSI)	75

Liquidity measures
Avg. volume (thou.)	44
Turnover	2.5%
Bid/Ask (% of price)	0.18%
ADV underlying (mns)	$28,821

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the First Trust Dow 30 Equal Weight 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™:

6.2%

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	81.4	7	43	7.3	+1.1
DIA	SPDR Dow Jones Industrial Average	79.7	17	33	6.1	-0.1
DIVO	Amplify YieldShares CWP Dividend & Option Income	62.0	49	1	5.5	-0.7
USMC	Principal U.S. Mega-Cap Multi-Factor Index	52.8	12	38	5.7	-0.5
XLG	Invesco S&P Top 50	43.3	20	30	5.2	-1.0
OUSA	O'Shares FTSE U.S. Quality Dividend	43.3	48	2	5.9	-0.3
OEF	iShares S&P 100	39.4	20	30	5.5	-0.7
DGRO	iShares Core Dividend Growth	39.2	8	42	6.4	+0.2
MGV	Vanguard Mega Cap 300 Value	37.6	7	43	7.1	+0.9
SPHQ	Invesco S&P High Quality Portfolio	37.0	15	35	5.6	-0.6
DLN	WisdomTree Large Cap Dividend	36.4	28	22	6.5	+0.3
PFM	Invesco Dividend Achievers	36.1	54	-4	5.5	-0.7
IWX	iShares Russell Top 200 Value	36.0	20	30	7.0	+0.8
OVOL	Invesco Russell 1000 Low Volatility Factor ETF	35.2	19	31	5.6	-0.6
PRID	InsightShares LGBT Employment Equality	35.1	65	-15	5.4	-0.8
ACIO	Aptus Collared Income Opportunity	35.0	79	-29	6.8	+0.6
OYLD	Invesco Russell 1000 Yield Factor ETF	35.0	19	31	7.1	+0.9
FDRR	Fidelity Dividend for Rising Rates	34.6	29	21	7.9	+1.7
VYM	Vanguard High Dividend Yield ETF	34.2	6	44	7.3	+1.1
QDF	FlexShares Quality Dividend	33.9	37	13	7.0	+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

	2014	2015	2016	2017	2018	2019E	2020E
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

	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 Dow 30 Equal Weight
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	20.3	%
Divided by: Fwd. P/BV	3.0	x
Less: Expense ratio	50	bp
Equals: ALTAR Score	6.2	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.55	CATEGORY AVERAGE	1.55

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.