First Trust Morningstar Dividend Leaders Index Fund
ALTAR
Score™
11.2% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
11.6x P/Sales
ratio
0.8x
P/BV
ratio
1.3x Div.
yield
7.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Morningstar Dividend Leaders Index Fund seeks investment results that correspond to the price and yield of an equity index called the Morningstar Dividend Leaders Index.

FUND BASICS
Category US Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Mar 15, 2006
Assets (mns) $1,173
Currency USD
Expense ratio 45 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 99
Wgt avg mkt cap (mns) $104,292
Large cap (>$10bn) 88.9%
Mid cap ($2-10bn) 9.3%
Small cap (<$2bn) 1.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EXXON MOBIL CORP 10.4 %
AT&T INC 9.1 %
VERIZON COMMUNICATIONS INC 8.1 %
CHEVRON CORP 7.1 %
PHILIP MORRIS INTERNATIONAL 5.7 %
WELLS FARGO & CO 5.3 %
ABBVIE INC 5.1 %
ALTRIA GROUP INC 4.9 %
INTL BUSINESS MACHINES CORP 4.4 %
BROADCOM INC. 4.2 %
Total 64.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.6 %
IRELAND 1.4 %
BRITAIN 0.8 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-30.6% -22.6% 2.8% 8.3% 4.6%

Market Correlations
versus... Beta R-squared
S&P500 0.99 80%
MSCI EAFE 0.98 76%
MSCI Emg. Mkts. 0.72 60%

Technical Indicators
Recent close $21.57
30d moving avg. $24.82
Annualized volatility 16.8%
Short interest (ETF) 0.3%
Short interest (Underlying) 2.5%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 804
Turnover 1.5%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $21,636

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the First Trust Morningstar Dividend Leaders Index Fund ETF based on the alternatives' overlap in portfolio holdings with FDL. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FDL Expense: 45 bp ALTAR Score™: 11.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FDL
Ticker Fund
Name
Overlap1
vs FDL
(%)
Expense
ratio
(bp)
Savings
vs FDL
(bp)
ALTAR
Score™
(%)
ALTAR
vs FDL
(%)
DHS WisdomTree U.S. High Dividend Fund 49.5 38 7 10.6 -0.6
HDV iShares Core High Dividend ETF 43.8 8 37 8.3 -2.9
DURA VanEck Vectors Morningstar Durable Dividend ETF 39.7 29 16 8.5 -2.7
SDOG ALPS Sector Dividend Dogs ETF 36.2 40 5 14.1 +2.9
SPYD SPDR S&P 500 High Dividend ETF 35.9 7 38 14.4 +3.2
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 34.8 30 15 12.0 +0.8
GBDV Global Beta Smart Income ETF 34.0 29 16 16.7 +5.6
JKF iShares Morningstar Large Cap Value ETF 33.7 25 20 9.7 -1.5
RDIV Invesco S&P Ultra Dividend Revenue ETF 32.8 39 6 15.4 +4.2
SPDV AAM S&P 500 High Dividend Value ETF 32.5 29 16 14.7 +3.5
PEY Invesco High Yield Equity Dividend Achievers ETF 32.2 53 -8 10.1 -1.1
WBIY WBI Power Factor High Dividend ETF 31.0 70 -25 20.3 +9.2
DTN WisdomTree U.S. Dividend ex-Financials Fund 29.7 38 7 10.3 -0.9
DEW WisdomTree Global High Dividend Fund 29.3 58 -13 11.6 +0.4
RNDV US Equity Dividend Select ETF 29.0 50 -5 10.7 -0.5
DVOP Source Dividend Opportunity ETF 28.4 50 -5 11.5 +0.3
SCHD Schwab U.S. Dividend Equity ETF 27.5 6 39 9.3 -1.9
DVY iShares Select Dividend ETF 27.3 39 6 10.9 -0.3
VYM Vanguard High Dividend Yield Index ETF 26.0 6 39 9.0 -2.2
DIV Global X SuperDividend US ETF 25.5 45 0 15.5 +4.4
VLUE iShares Edge MSCI USA Value Factor ETF 25.5 15 30 14.6 +3.5
USDY Pacific Global US Equity Income ETF 24.6 29 16 10.7 -0.4
CDL Victory CEMP US Large Cap High Dividend Volatility Wtd Idx E 24.5 35 10 11.6 +0.4
DLN WisdomTree U.S. LargeCap Dividend Fund 24.5 28 17 8.1 -3.0
QDEF FlexShares Quality Dividend Defensive Index Fund 23.2 37 8 8.0 -3.1
XLE Energy Select Sector SPDR Fund 23.0 13 32 6.6 -4.6
DTD WisdomTree U.S.Total Dividend Fund 22.8 28 17 8.6 -2.5
SPVU Invesco S&P 500 Enhanced Value ETF 22.8 13 32 16.1 +5.0
OUSA O'Shares FTSE US Quality Dividend ETF 22.7 48 -3 7.1 -4.1
IYE iShares U.S. Energy ETF 22.6 42 3 6.1 -5.0
FENY Fidelity MSCI Energy Index ETF 22.5 8 37 6.1 -5.1
VDE Vanguard Energy Index Fund 22.3 10 35 6.1 -5.1
IGE iShares North American Natural Resources ETF 22.3 46 -1 6.0 -5.2
PWV Invesco Dynamic Large Cap Value ETF 22.1 55 -10 10.8 -0.4
LVHD Legg Mason Low Volatility High Dividend ETF 21.8 27 18 8.8 -2.4
IXC iShares Global Energy ETF 21.6 46 -1 7.5 -3.7
IWX iShares Russell Top 200 Value ETF 21.2 20 25 8.9 -2.3
REVS Columbia Research Enhanced Value ETF 21.1 19 26 10.0 -1.2
FDRR Fidelity Dividend ETF for Rising Rates 20.8 29 16 9.8 -1.4
QDYN FlexShares Quality Dividend Dynamic Index Fund 20.5 37 8 9.3 -1.9
JHME John Hancock Multifactor Energy ETF 20.5 40 5 6.3 -4.9
CDC Victory CEMP US EQ Income Enhanced Volatility Wtd Index ETF 20.5 35 10 11.6 +0.4
FILL iShares MSCI Global Energy Producers ETF 20.4 39 6 8.5 -2.7
PRF Invesco FTSE RAFI US 1000 ETF 20.2 39 6 9.4 -1.8
QDF FlexShares Quality Dividend Index Fund 20.2 37 8 9.0 -2.2
JDIV JPMorgan U.S. Dividend ETF 20.1 12 33 11.0 -0.2
FDVV Fidelity Core Dividend ETF 19.9 29 16 9.9 -1.3
MGV Vanguard Mega Cap Value ETF 19.7 7 38 9.0 -2.2
SPYV SPDR Portfolio S&P 500 Value ETF 19.6 4 41 9.4 -1.8
IVE iShares S&P 500 Value ETF 19.6 18 27 9.2 -1.9
SCHV Schwab U.S. Large-Cap Value ETF 19.5 4 41 9.1 -2.1
RAFE PIMCO RAFI ESG U.S. ETF 19.5 29 16 10.2 -0.9
VOOV Vanguard S&P 500 Value ETF 19.2 15 30 9.3 -1.9
JVAL JPMorgan U.S. Value Factor ETF 19.0 12 33 12.2 +1.0
IUSV iShares Core S&P U.S. Value ETF 18.9 4 41 9.5 -1.6
FNDX Schwab Fundamental U.S. Large Co. Index ETF 18.9 25 20 8.5 -2.7
VTV Vanguard Value Index Fund 18.8 4 41 9.3 -1.9
GCOW Pacer Global High Dividend ETF 18.4 60 -15 13.1 +2.0
PFM Invesco Dividend Achievers ETF 18.4 54 -9 6.5 -4.6
DJD Invesco Dow Jones Industrial Average Dividend ETF 18.3 7 38 8.4 -2.8
VLU SPDR S&P 1500 Value Tilt ETF 18.2 12 33 9.8 -1.4
FNDB Schwab Fundamental U.S. Broad Market Index ETF 17.8 25 20 8.6 -2.6
NANR SPDR S&P North American Natural Resources ETF 17.8 35 10 5.1 -6.1
RWL Invesco S&P 500 Revenue ETF 17.7 39 6 9.3 -1.8
FMK First Trust Mega Cap AlphaDEX Fund 17.6 70 -25 7.2 -4.0
FVAL Fidelity Value Factor ETF 17.2 29 16 11.1 -0.0
IYZ iShares U.S. Telecommunications ETF 17.2 42 3 9.4 -1.8
IWD iShares Russell 1000 Value ETF 17.0 19 26 9.3 -1.9
VONV Vanguard Russell 1000 Value Index Fund 16.9 8 37 9.4 -1.7
DIVB iShares U.S. Dividend & Buyback ETF 16.7 25 20 8.9 -2.2
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 16.4 15 30 9.0 -2.1
NULV Nuveen ESG Large-Cap Value ETF 16.4 35 10 9.5 -1.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 16.4 29 16 8.2 -2.9
VFVA Vanguard U.S. Value Factor ETF 16.0 13 32 16.9 +5.8
ONEY SPDR Russell 1000 Yield Focus ETF 15.6 20 25 12.4 +1.2
MAGA Point Bridge GOP Stock Tracker ETF 15.6 72 -27 9.5 -1.7
VALQ American Century STOXX U.S. Quality Value ETF 15.5 29 16 12.0 +0.8
RYE Invesco S&P 500 Equal Weight Energy ETF 15.5 40 5 5.5 -5.7
IUS Invesco Strategic US ETF 15.4 19 26 8.1 -3.1
FTA First Trust Large Cap Value AlphaDEX Fund 15.1 60 -15 12.4 +1.2
FTXN First Trust Nasdaq Oil & Gas ETF 14.9 60 -15 7.3 -3.9
FXN First Trust Energy AlphaDEX Fund 14.9 65 -20 8.3 -2.9
EQWL Invesco Russell Top 200 Equal Weight ETF 14.8 25 20 7.7 -3.5
RPV Invesco S&P 500 Pure Value ETF 14.7 35 10 17.5 +6.3
DGRW WisdomTree U.S. Quality Dividend Growth Fund 14.7 28 17 8.3 -2.8
IYK iShares U.S. Consumer Goods ETF 14.5 42 3 6.8 -4.3
ESGS Columbia Sustainable U.S. Equity Income ETF 14.5 35 10 12.3 +1.1
DGRO iShares Core Dividend Growth ETF 14.2 8 37 8.5 -2.6
BVAL Brand Value ETF 14.0 65 -20 9.0 -2.2
EPS WisdomTree U.S. Earnings 500 Fund 13.8 8 37 8.6 -2.6
FCOM Fidelity MSCI Telecommunication Services Index ETF 13.7 8 37 7.0 -4.2
TTFS AdvisorShares Wilshire Buyback ETF 13.6 91 -46 8.2 -3.0
VETS Pacer Military Times Best Employers ETF 13.5 60 -15 8.5 -2.7
VOX Vanguard Telecommunication Services Index Fund 13.5 10 35 6.7 -4.4
JHCS John Hancock Multifactor Media & Communications ETF 13.5 40 5 7.7 -3.4
TDIV First Trust NASDAQ Technology Dividend Index Fund 12.9 50 -5 7.7 -3.4
FLQL Franklin LibertyQ U.S. Equity ETF 12.9 15 30 8.2 -3.0
SPMV Invesco S&P 500 Minimum Variance ETF 12.8 10 35 7.4 -3.7
XOP SPDR S&P Oil & Gas Exploration & Production ETF 12.7 35 10 6.0 -5.2
FXU First Trust Utilities AlphaDEX Fund 12.6 63 -18 7.1 -4.1

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

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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 Morningstar Dividend Leaders Index Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.4 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 11.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 CATEGORY
AVERAGE
1.51
 
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.