First Trust China AlphaDEX Fund
ALTAR
Score™
13.4% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
9.2x P/Sales
ratio
0.8x
P/BV
ratio
0.8x Div.
yield
3.6%


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

FUND BASICS
Category Emerging Market Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Apr 18, 2011
Assets (mns) $54
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 Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 50
Wgt avg mkt cap (mns) $16,425
Large cap (>$10bn) 29.5%
Mid cap ($2-10bn) 63.0%
Small cap (<$2bn) 0.0%
Developed mkts 52.8%
Emerging mkts 47.2%

TOP TEN HOLDINGS
BYD ELECTRONIC INTL CO LTD 4.9 %
CHINA HONGQIAO GROUP LTD 3.9 %
DONGFENG MOTOR GRP CO LTD-H 3.5 %
ZHONGSHENG GROUP HOLDINGS 3.3 %
KWG PROPERTY HOLDING LTD 3.2 %
BEIJING ENTERPRISES HLDGS 3.1 %
CHINA MERCHANTS HLDGS INTL 2.9 %
ZHONGAN ONLINE P&C INSURANCE CO., 2.9 %
CNOOC LTD 2.8 %
BRILLIANCE CHINA AUTOMOTIVE 2.8 %
Total 33.3 %

TOP COUNTRY EXPOSURE
CHINA 61.4 %
HONG KONG 35.3 %
SINGAPORE 0.5 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.1% 8.8% 6.5% -- 1.4%

Market Correlations
versus... Beta R-squared
S&P500 0.83 39%
MSCI EAFE 1.00 47%
MSCI Emg. Mkts. 0.92 66%

Technical Indicators
Recent close $27.62
30d moving avg. $26.28
Annualized volatility 22.9%
Short interest (ETF) 0.5%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.1%
Bid/Ask (% of price) 0.98%
ADV underlying (mns) $2,430

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the First Trust China AlphaDEX Fund ETF based on the alternatives' overlap in portfolio holdings with FCA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FCA Expense: 80 bp ALTAR Score™: 13.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FCA
Ticker Fund
Name
Overlap1
vs FCA
(%)
Expense
ratio
(bp)
Savings
vs FCA
(bp)
ALTAR
Score™
(%)
ALTAR
vs FCA
(%)
FEM First Trust Emerging Markets AlphaDEX Fund 32.1 80 0 12.5 -0.8
FXI iShares China Large-Cap ETF 13.5 74 6 13.0 -0.4
CHIH Global X MSCI China Health Care ETF 13.4 66 14 3.3 -10.1
KURE KraneShares MSCI All China Health Care Index ETF 11.9 65 15 2.5 -10.9
MCHI iShares MSCI China ETF 11.7 59 21 7.5 -5.9
KWEB KraneShares CSI China Internet ETF 11.6 76 4 1.7 -11.7
FLCH Franklin FTSE China ETF 11.4 19 61 8.0 -5.4
GXC SPDR S&P China ETF 10.3 59 21 7.7 -5.7
PIE Invesco DWA Emerging Markets Momentum ETF 10.3 90 -10 4.5 -8.9
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 9.9 45 35 8.6 -4.7
CHIL Global X MSCI China Large-Cap 50 ETF 9.1 29 51 8.1 -5.3
FPXI First Trust International Equity Opportunities ETF 9.0 70 10 3.1 -10.3
BKF iShares MSCI BRIC ETF 8.9 69 11 7.2 -6.2
EMIF iShares Emerging Markets Infrastructure ETF 8.6 60 20 10.1 -3.3
CHII Global X China Industrials ETF 8.6 66 14 11.3 -2.1
CN Xtrackers MSCI All China Equity ETF 8.2 50 30 7.8 -5.6
CHIU Global X MSCI China Utilities ETF 8.2 66 14 9.8 -3.6
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 8.0 86 -6 2.0 -11.4
UEVM VictoryShares USAA MSCI Emerging Markets Value Momentum ETF 7.5 45 35 13.0 -0.3
CHIQ Global X China Consumer ETF 7.5 65 15 6.7 -6.6
CXSE WisdomTree China ex-State-Owned Enterprises Fund 7.4 32 48 5.8 -7.6
IPOS Renaissance International IPO ETF 7.3 80 0 4.7 -8.7
CHIK Global X MSCI China Information Technology ETF 7.2 66 14 7.3 -6.0
KALL KraneShares FTSE Emerging Markets Plus ETF 7.2 49 31 7.8 -5.5
SDEM Global X SuperDividend Emerging Markets ETF 7.1 66 14 16.1 +2.8
CHIE Global X China Energy ETF 6.7 66 14 11.4 -1.9
ISEM Invesco Strategic Emerging Markets ETF 6.6 35 45 10.2 -3.2
AIA iShares Asia 50 ETF 6.5 50 30 7.8 -5.6
PXH Invesco FTSE RAFI Emerging Markets ETF 6.4 50 30 13.2 -0.2
EMMF WisdomTree Emerging Markets Multifactor Fund 6.3 48 32 9.2 -4.2
EEMO Invesco S&P Emerging Markets Momentum ETF 6.1 29 51 6.2 -7.2
GMF SPDR S&P Emerging Asia Pacific ETF 6.0 49 31 7.1 -6.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 5.9 39 41 12.7 -0.7
EDIV SPDR S&P Emerging Markets Dividend ETF 5.9 49 31 11.1 -2.2
AAXJ iShares MSCI All Country Asia ex Japan ETF 5.8 68 12 6.9 -6.5
ECON Columbia Emerging Markets Consumer ETF 5.8 59 21 4.4 -9.0
KOL VanEck Vectors Coal ETF 5.8 60 20 19.9 +6.6
ESGE iShares ESG MSCI EM ETF 5.7 25 55 8.4 -5.0
CHIR Global X MSCI China Real Estate ETF 5.6 65 15 17.5 +4.1
DVYE iShares Emerging Markets Dividend ETF 5.6 49 31 16.6 +3.3
SCHE Schwab Emerging Markets Equity ETF 5.6 11 69 7.7 -5.6
FLAX Franklin FTSE Asia Ex Japan ETF 5.6 19 61 7.5 -5.8
EEMA iShares MSCI Emerging Markets Asia ETF 5.6 50 30 7.3 -6.1
EDOC Global X Telemedicine & Digital Health ETF 5.6 68 12 0.8 -12.6
PBEE Invesco PureBeta FTSE Emerging Markets ETF 5.6 15 65 8.4 -5.0
EEMD AAM S&P Emerging Markets High Dividend Value ETF 5.5 50 30 20.9 +7.6
DEM WisdomTree Emerging Markets High Dividend Fund 5.4 63 17 14.1 +0.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 5.4 40 40 7.1 -6.3
ARKF ARK Fintech Innovation ETF 5.4 75 5 0.4 -12.9
KMED KraneShares Emerging Markets Healthcare Index ETF 5.3 79 1 1.9 -11.5
NUEM Nuveen ESG Emerging Markets Equity ETF 5.3 45 35 6.9 -6.5
CHNA Loncar China BioPharma ETF 5.3 79 1 1.5 -11.8
CQQQ Invesco China Technology ETF 5.2 70 10 3.6 -9.8
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 5.1 32 48 8.8 -4.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 5.1 65 15 7.3 -6.1
EEM iShares MSCI Emerging Markets ETF 5.1 68 12 7.2 -6.2
MXDE Nationwide Maximum Diversification Emerging Mkts Core Eq 5.0 64 16 4.5 -8.9
VWO Vanguard FTSE Emerging Markets ETF 5.0 10 70 7.8 -5.6
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 4.9 20 60 6.5 -6.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 4.9 95 -15 9.0 -4.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 4.8 30 50 7.6 -5.8
EEMV iShares Edge MSCI Min Vol Emerging Markets ETF 4.7 25 55 7.7 -5.7
SPEM SPDR Portfolio Emerging Markets ETF 4.7 11 69 7.7 -5.7
CHIC Global X Nasdaq China Technology ETF 4.7 66 14 3.8 -9.6
IEMG iShares Core MSCI Emerging Markets ETF 4.6 13 67 7.7 -5.7
DWCR Arrow DWA Country Rotation ETF 4.5 95 -15 13.7 +0.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 4.5 44 36 8.8 -4.6
ROAM Hartford Multifactor Emerging Markets ETF 4.4 44 36 14.5 +1.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 4.3 70 10 13.2 -0.2
EYLD Cambria Emerging Shareholder Yield ETF 4.2 66 14 17.0 +3.6
AVEM Avantis Emerging Markets Equity ETF 4.1 33 47 8.6 -4.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 4.1 36 44 7.9 -5.4
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 4.1 59 21 10.8 -2.6
BKEM BNY Mellon Emerging Markets Equity ETF 4.0 11 69 8.2 -5.1
IRBO iShares Robotics & Artificial Intelligence ETF 4.0 47 33 2.5 -10.8
EELV Invesco S&P Emerging Markets Low Volatility ETF 4.0 29 51 9.9 -3.5
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 3.9 30 50 8.5 -4.8
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 3.9 49 31 7.7 -5.6
OBOR KraneShares MSCI One Belt One Road Index ETF 3.9 79 1 8.8 -4.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 3.8 32 48 6.0 -7.4
CEY VictoryShares Emerging Market High Dividend Volatility Wtd E 3.8 51 29 13.9 +0.5
DTH WisdomTree DEFA Equity Income Fund 3.7 58 22 9.8 -3.5
BICK First Trust BICK Index Fund 3.7 64 16 4.4 -8.9
OGIG O'Shares Global Internet Giants ETF 3.6 48 32 0.6 -12.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 3.6 45 35 7.7 -5.7
DVEM WisdomTree Emerging Markets Dividend Fund 3.4 32 48 8.1 -5.3
WUGI Esoterica NextG Economy ETF 3.4 75 5 1.6 -11.7
RNEM Emerging Markets Equity Select ETF 3.3 75 5 11.6 -1.8
CHIM Global X China Materials ETF 3.2 66 14 7.8 -5.6
GRES IQ Global Resources ETF 3.2 77 3 7.3 -6.0
CEZ VictoryShares Emerging Market Volatility Wtd Index ETF 3.2 50 30 10.2 -3.2
JHEM John Hancock Multifactor Emerging Markets ETF 3.1 49 31 8.2 -5.1
DOL WisdomTree International LargeCap Dividend Fund 3.0 48 32 8.7 -4.7
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 3.0 20 60 11.1 -2.2
KGRN KraneShares MSCI China Environment Index ETF 3.0 80 0 7.5 -5.9
GBUY Goldman Sachs Motif New Age Consumer ETF 2.9 50 30 1.7 -11.7
DVYA iShares Asia/Pacific Dividend ETF 2.9 49 31 13.4 +0.0
ACWF iShares FactorSelect MSCI Global ETF 2.8 35 45 7.7 -5.7

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

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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 China AlphaDEX Fund
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 11.3 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 13.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.36 CATEGORY
AVERAGE
1.45
 
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.