First Trust Multi Cap Value
ALTAR
Score™
8.0% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
13.3x P/Sales
ratio
0.9x
P/BV
ratio
1.5x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Multi Cap Value AlphaDEX Fund seeks investment results that correspond to the Defined Multi Cap Value Index.

FUND BASICS
Category US Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date May 10, 2007
Assets (mns) $87
Currency USD
Expense ratio 71 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 675
Wgt avg mkt cap (mns) $31,858
Large cap (>$10bn) 51.5%
Mid cap ($2-10bn) 34.9%
Small cap (<$2bn) 13.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
LENNAR CORP-CL A 0.5 %
MICRON TECHNOLOGY INC 0.5 %
FOX CORPORATION CLASS A 0.5 %
DELTA AIR LINES INC 0.5 %
DR HORTON INC 0.5 %
EXELON CORP 0.5 %
TEXTRON INC 0.5 %
METLIFE INC 0.5 %
CONCHO RESOURCES INC 0.5 %
NORWEGIAN CRUISE LINE HOLDIN 0.5 %
Total 4.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.2 %
BERMUDA 1.3 %
BRITAIN 0.8 %
IRELAND 0.8 %
SWITZERLAND 0.5 %
PUERTO RICO 0.2 %
CAYMAN ISLANDS 0.1 %
NETHERLANDS 0.1 %



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.
23.7% 23.7% 5.9% 11.0% 7.0%

Market Correlations
versus... Beta R-squared
S&P500 1.16 81%
MSCI EAFE 1.08 58%
MSCI Emg. Mkts. 0.70 42%

Technical Indicators
Recent close $58.32
30d moving avg. $57.48
Annualized volatility 15.6%
Short interest (ETF) 0.5%
Short interest (Underlying) 6.4%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.1%
Bid/Ask (% of price) 0.30%
ADV underlying (mns) $64,409

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the First Trust Multi Cap Value ETF based on the alternatives' overlap in portfolio holdings with FAB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FAB Expense: 71 bp ALTAR Score™: 8.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FAB
Ticker Fund
Name
Overlap1
vs FAB
(%)
Expense
ratio
(bp)
Savings
vs FAB
(bp)
ALTAR
Score™
(%)
ALTAR
vs FAB
(%)
TUSA First Trust Total US Market AlphaDEX 56.9 70 1 6.2 -1.8
VFVA Vanguard U.S. Value Factor 51.1 13 58 8.7 +0.8
FTA First Trust Large Cap Value 50.2 62 9 8.1 +0.2
FEX First Trust Large Cap Core Alphadex 49.0 61 10 6.0 -2.0
JVAL JPMorgan U.S. Value Factor 38.1 12 59 8.2 +0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight 38.0 29 42 6.3 -1.7
IWS iShares Russell Midcap Value 36.9 24 47 6.5 -1.4
OVLU Invesco Russell 1000 Value Factor ETF 36.6 19 52 7.5 -0.5
RSP Invesco S&P 500 Equal Weight 36.5 20 51 6.3 -1.6
OMFL Oppenheimer Russell 1000 Dynamic Multifactor 36.1 29 42 8.9 +0.9
PQLC PGIM QMA Strategic Alpha Large-Cap Core 34.6 17 54 6.6 -1.4
CFA Compass EMP US 500 Volatility Weighted 34.6 35 36 5.8 -2.2
CFO Victory CEMP US 500 Enhanced Volatility Wtd 34.6 35 36 5.8 -2.2
ONEO SPDR Russell 1000 Momentum Focus 34.3 20 51 6.6 -1.4
VLU SPDR S&P 1500 Value Tilt 34.2 12 59 7.0 -0.9
EQAL Invesco Russel 1000 Equal Weight 34.1 20 51 5.5 -2.4
SIZE iShares MSCI USA Size Factor 33.0 15 56 5.8 -2.1
EUSA iShares MSCI USA Equal Weight 33.0 15 56 5.8 -2.2
DEUS Xtrackers Russell 1000 Comprehensive Factor 32.7 17 54 6.4 -1.5
ONEV SPDR Russell 1000 Low Volatility Focus 32.5 20 51 6.7 -1.3

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 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
  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 Multi Cap Value
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.7 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 71 bp
Equals: ALTAR Score 8.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 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.
 

 

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.