First Trust Brazil AlphaDEX
ALTAR
Score™
6.9% info Recommen-
dation
UNDERWEIGHT
2019E    2020E
P/E
ratio
18.1x P/Sales
ratio
1.0x
P/BV
ratio
1.6x Div.
yield
2.7%


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

FUND BASICS
Category Emerging Market Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Apr 19, 2011
Assets (mns) $115
Currency USD
Expense ratio 80 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Brown Brothers Harriman & Co
Weighting Tiered
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 49
Wgt avg mkt cap (mns) $7,718
Large cap (>$10bn) 19.8%
Mid cap ($2-10bn) 61.7%
Small cap (<$2bn) 9.4%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
SUL AMERICA SA - UNITS 4.0 %
CIA PARANAENSE DE ENERGI-PFB 3.8 %
JBS SA 3.6 %
SAO PAULO ALPARGATAS SA-PREF 3.5 %
TIM PARTICIPACOES S.A. 3.5 %
TELEFONICA BRASIL SA PFD 3.2 %
BRADESPAR SA -PREF 3.1 %
CENTRAIS ELETRICAS BRAS-PR B 2.9 %
MAGAZINE LUIZA SA 2.9 %
BRF - BRASIL FOODS SA 2.8 %
Total 33.3 %

TOP COUNTRY EXPOSURE
BRAZIL 95.8 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
25.1% 24.0% 5.1% -- -2.2%

Market Correlations
versus... Beta R-squared
S&P500 0.16 1%
MSCI EAFE 0.45 4%
MSCI Emg. Mkts. 0.69 13%

Technical Indicators
Recent close $17.11
30d moving avg. $16.29
Annualized volatility 26.6%
Short interest (ETF) 0.3%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.1%
Bid/Ask (% of price) 0.73%
ADV underlying (mns) $1,593

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FBZ Expense: 80 bp ALTAR Score™: 6.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FBZ
Ticker Fund
Name
Overlap1
vs FBZ
(%)
Expense
ratio
(bp)
Savings
vs FBZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs FBZ
(%)
FLN First Trust Latin America AlphaDEX 58.8 80 0 5.0 -1.9
EWZ iShares MSCI Brazil 34.7 59 21 4.7 -2.3
FLBR Franklin FTSE Brazil 33.0 19 61 5.0 -1.9
FLLA Franklin FTSE Latin America 25.5 19 61 5.7 -1.2
EWZS iShares MSCI Brazil Small-Cap 21.3 59 21 4.5 -2.4
FEM First Trust Emerging Markets AlphaDEX 19.4 80 0 10.7 +3.8
EEMO Invesco S&P Emg Mkts Momentum 15.0 30 50 7.8 +0.9
BICK First Trust BICK Index Fund 11.3 64 16 5.5 -1.4
EMGF iShares Edge MSCI Multifactor Emerging Markets 9.7 45 35 9.9 +2.9
JPEM JPMorgan Diversified Rtn Emg Mkt Equity 9.3 45 35 8.8 +1.9
SDEM Global X SuperDividend Emg Mkts 8.5 67 13 17.4 +10.5
DWCR Arrow DWA Country Rotation 8.4 134 -54 5.0 -2.0
EMMF WisdomTree Emerging Markets Multifactor Fund 7.9 48 32 10.0 +3.1
REDV Invesco Emerging Markets Ultra Dividend Revenue ETF 7.7 46 34 17.8 +10.9
RFEM First Trust Riverfront Dynamic Emerging Markets 7.0 95 -15 10.5 +3.5
PIE Invesco DWA Emg. Mkts. Technical Leaders 6.9 90 -10 5.2 -1.8
BKF iShares MSCI BRIC 6.9 67 13 8.6 +1.6
BRF VanEck Vectors Brazil Small Cap 6.9 60 20 7.4 +0.4
XCEM Columbia EM Core ex-China 6.8 16 64 7.5 +0.6
EMCG WisdomTree Emg Mkts Consumer Growth 6.5 32 48 6.6 -0.3

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

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 Brazil AlphaDEX
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 11.6 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.49
 
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.