First Trust Global Wind Energy ETF
ALTAR
Score™
5.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
18.6x P/Sales
ratio
1.1x
P/BV
ratio
1.9x Div.
yield
2.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Global Wind Energy Fund seeks investment results that correspond generally to the price and yield (before fees & expenses) of the ISE Global Wind Energy Index, an index of companies engaged in that industry.

FUND BASICS
Category Global Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Jun 16, 2008
Assets (mns) $109
Currency USD
Expense ratio 60 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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 44
Wgt avg mkt cap (mns) $24,964
Large cap (>$10bn) 59.3%
Mid cap ($2-10bn) 25.0%
Small cap (<$2bn) 15.7%
Developed mkts 93.6%
Emerging mkts 6.4%

TOP TEN HOLDINGS
VESTAS WIND SYSTEMS A/S 9.2 %
NORTHLAND POWER INC 8.3 %
GAMESA CORP TECNOLOGICA SA 8.2 %
DONG ENERGY A/S 7.6 %
PATTERN ENERGY GROUP INC 4.9 %
BORALEX INC -CL 'A' 4.9 %
RENEWABLES INFRASTRUCTURE GROUP LI 3.6 %
CHINA LONGYUAN POWER GROUP-H 3.4 %
SSE PLC 2.5 %
GENERAL ELECTRIC CO 2.4 %
Total 55.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 17.2 %
DENMARK 16.8 %
CANADA 13.4 %
SPAIN 12.0 %
GERMANY 8.4 %
BRITAIN 6.2 %
CHINA 5.3 %
JAPAN 4.7 %
ITALY 3.1 %
SWITZERLAND 2.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
1.3% 18.7% 11.0% 3.1% -3.6%

Market Correlations
versus... Beta R-squared
S&P500 0.83 44%
MSCI EAFE 1.11 65%
MSCI Emg. Mkts. 0.84 65%

Technical Indicators
Recent close $15.12
30d moving avg. $15.07
Annualized volatility 15.1%
Short interest (ETF) 1.4%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 52
Turnover 0.7%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $2,439

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FAN Expense: 60 bp ALTAR Score™: 5.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FAN
Ticker Fund
Name
Overlap1
vs FAN
(%)
Expense
ratio
(bp)
Savings
vs FAN
(bp)
ALTAR
Score™
(%)
ALTAR
vs FAN
(%)
ICLN iShares Global Clean Energy ETF 22.7 46 14 3.1 -2.0
YLCO Global X YieldCo Index ETF 18.4 65 -5 4.1 -1.0
JXI iShares Global Utilities ETF 18.2 46 14 4.9 -0.3
GEX VanEck Vectors Global Alternative Energy ETF 15.5 63 -3 3.5 -1.6
ACES ALPS Clean Energy ETF 13.8 65 -5 0.7 -4.5
EDEN iShares MSCI Denmark Capped ETF 12.6 53 7 4.6 -0.6
INFR Legg Mason Global Infrastructure ETF 10.8 40 20 5.3 +0.1
GHII Invesco S&P High Income Infrastructure ETF 10.8 45 15 5.0 -0.2
PBD Invesco Global Clean Energy ETF 10.3 75 -15 0.4 -4.8
PZD Invesco Cleantech ETF 9.8 68 -8 4.3 -0.8
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 9.5 47 13 6.2 +1.0
IGF iShares Global Infrastructure ETF 9.1 46 14 4.6 -0.5
GII SPDR S&P Global Infrastructure ETF 9.1 40 20 4.7 -0.5
XKCP SPDR Kensho Clean Power ETF 9.1 45 15 -7.7 -12.8
DOO WisdomTree International Dividend ex-Financials Fund 8.5 58 2 8.6 +3.4
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 7.8 30 30 6.5 +1.3
EZU iShares MSCI Eurozone ETF 7.4 49 11 6.8 +1.7
FPXE First Trust IPOX Europe Equity Opportunities ETF 7.2 70 -10 3.9 -1.2
EURZ Xtrackers Eurozone Equity ETF 7.1 9 51 7.2 +2.0
FEZ SPDR EURO STOXX 50 ETF 6.9 29 31 7.2 +2.1

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

Content on this tab for subscribers only

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 Global Wind Energy 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 10.8 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 5.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 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.