First Trust China AlphaDEX
ALTAR
Score™
12.5% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
7.4x P/Sales
ratio
0.6x
P/BV
ratio
0.9x Div.
yield
4.9%


  • 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 19, 2011
Assets (mns) $9
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) $14,390
Large cap (>$10bn) 24.9%
Mid cap ($2-10bn) 73.2%
Small cap (<$2bn) 1.9%
Developed mkts 31.9%
Emerging mkts 68.1%

TOP TEN HOLDINGS
DONGFENG MOTOR GRP CO LTD-H 4.2 %
COUNTRY GARDEN SERVICES HOLDINGS C 4.1 %
ZOOMLION HEAVY INDUSTRY - H 3.8 %
LI NING CO LTD 3.8 %
YIHAI INTERNATIONAL HOLDING LTD. 3.4 %
CHINA AOYUAN PROPERTY GROUP 3.3 %
MAANSHAN IRON & STEEL-H 3.3 %
CHINA MERCHANTS HLDGS INTL 3.2 %
LONGFOR PROPERTIES 3.0 %
ANGANG STEEL CO LTD-H 2.9 %
Total 34.9 %

TOP COUNTRY EXPOSURE
CHINA 75.0 %
HONG KONG 21.1 %









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.
9.2% 0.5% 4.2% -- 0.4%

Market Correlations
versus... Beta R-squared
S&P500 1.18 48%
MSCI EAFE 1.47 62%
MSCI Emg. Mkts. 1.31 79%

Technical Indicators
Recent close $25.12
30d moving avg. $25.42
Annualized volatility 20.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.6%
Bid/Ask (% of price) 1.22%
ADV underlying (mns) $1,243

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the First Trust China AlphaDEX 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™: 12.5%


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 22.2 80 0 10.8 -1.8
CHIR Global X MSCI China Real Estate 18.5 65 15 15.3 +2.7
MCHI iShares MSCI China 13.2 59 21 9.4 -3.2
TAO Invesco China Real Estate 13.0 70 10 13.2 +0.7
FXI iShares China Large-Cap 12.9 74 6 14.2 +1.7
FLCH Franklin FTSE China 12.7 19 61 10.0 -2.5
HAO Invesco China Small Cap ETF 12.4 75 5 9.5 -3.0
GXC SPDR S&P China ETF 11.6 59 21 9.2 -3.4
ECOW Pacer Emerging Markets Cash Cows 100 11.3 70 10 10.9 -1.6
CHIM Global X MSCI China Materials 11.2 65 15 9.8 -2.7
EMMF WisdomTree Emerging Markets Multifactor Fund 10.3 48 32 10.0 -2.5
CHII Global X MSCI China Industrials 9.9 66 14 13.2 +0.6
CHIQ Global X MSCI China Consumer Discretionary 9.8 65 15 5.3 -7.2
BKF iShares MSCI BRIC 9.8 67 13 8.6 -3.9
CN Xtrackers Harvest MSCI All China 9.7 50 30 9.3 -3.3
EEMD AAM S&P Emerging Markets High Dividend Value 9.6 50 30 12.3 -0.2
DGRE WisdomTree Emg Mkt Dividend Growth 9.6 32 48 9.1 -3.5
EMGF iShares Edge MSCI Multifactor Emerging Markets 9.4 45 35 9.9 -2.6
KALL KraneShares MSCI China All Shares 9.3 49 31 9.0 -3.5
PXH Invesco FTSE-RAFI Emerging Markets 8.9 50 30 12.3 -0.2

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 China AlphaDEX
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 10.9 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 12.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.40 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.