First Trust Morningstar Dividend Leaders Index Fund
ALTAR
Score™
10.3% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
11.7x P/Sales
ratio
1.6x
P/BV
ratio
1.7x Div.
yield
5.3%


  • 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 09, 2006
Assets (mns) $1,277
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) $107,073
Large cap (>$10bn) 91.2%
Mid cap ($2-10bn) 8.1%
Small cap (<$2bn) 0.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AT&T INC 10.0 %
VERIZON COMMUNICATIONS INC 8.7 %
ABBVIE INC 7.6 %
PFIZER INC 7.3 %
PHILIP MORRIS INTERNATIONAL 6.5 %
ALTRIA GROUP INC 5.5 %
INTL BUSINESS MACHINES CORP 4.8 %
BROADCOM INC. 4.8 %
CITIGROUP INC 3.8 %
UNITED PARCEL SERVICE-CL B 2.8 %
Total 61.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.3 %
BRITAIN 0.9 %
IRELAND 0.5 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-20.0% -13.0% 6.0% 10.6% 5.6%

Market Correlations
versus... Beta R-squared
S&P500 0.98 82%
MSCI EAFE 1.03 79%
MSCI Emg. Mkts. 0.74 65%

Technical Indicators
Recent close $25.49
30d moving avg. $26.09
Annualized volatility 18.3%
Short interest (ETF) 0.1%
Short interest (Underlying) 2.5%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 311
Turnover 0.6%
Bid/Ask (% of price) 0.05%
ADV underlying (mns) $21,663

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™: 10.3%


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 49.9 38 7 8.7 -1.6
DURA VanEck Vectors Morningstar Durable Dividend ETF 37.4 29 16 7.3 -3.0
PWV Invesco Dynamic Large Cap Value ETF 32.3 55 -10 8.9 -1.4
HDV iShares Core High Dividend ETF 32.0 8 37 6.8 -3.5
DVY iShares Select Dividend ETF 30.7 39 6 9.7 -0.6
SDOG ALPS Sector Dividend Dogs ETF 30.4 40 5 10.5 +0.2
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 30.1 30 15 9.9 -0.4
VLUE iShares Edge MSCI USA Value Factor ETF 29.9 15 30 11.5 +1.2
SPYD SPDR S&P 500 High Dividend ETF 29.7 7 38 10.5 +0.2
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 28.5 35 10 8.7 -1.6
SCHD Schwab U.S. Dividend Equity ETF 28.5 6 39 8.3 -2.0
JKF iShares Morningstar Large Cap Value ETF 27.4 25 20 7.6 -2.7
PEY Invesco High Yield Equity Dividend Achievers ETF 26.7 53 -8 9.3 -1.0
SPDV AAM S&P 500 High Dividend Value ETF 26.1 29 16 11.1 +0.8
DTN WisdomTree U.S. Dividend ex-Financials Fund 26.1 38 7 8.1 -2.2
GBDV Global Beta Smart Income ETF 25.8 29 16 9.0 -1.3
RDIV Invesco S&P Ultra Dividend Revenue ETF 25.7 39 6 11.3 +1.0
DEW WisdomTree Global High Dividend Fund 25.7 58 -13 9.4 -0.9
VYM Vanguard High Dividend Yield Index ETF 25.4 6 39 7.4 -2.9
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 24.0 35 10 8.7 -1.6
SPVU Invesco S&P 500 Enhanced Value ETF 22.9 13 32 11.6 +1.3
LVHD Legg Mason Low Volatility High Dividend ETF 22.6 27 18 8.9 -1.4
USDY Pacific Global US Equity Income ETF 22.0 29 16 7.3 -3.0
WBIY WBI Power Factor High Dividend ETF 22.0 70 -25 12.5 +2.2
DLN WisdomTree U.S. LargeCap Dividend Fund 21.1 28 17 6.4 -3.9
HDIV QRAFT AI-Enhanced U.S. High Dividend ETF 20.5 75 -30 6.2 -4.1
DTD WisdomTree U.S.Total Dividend Fund 20.5 28 17 6.7 -3.6
RAFE PIMCO RAFI ESG U.S. ETF 20.4 29 16 7.8 -2.5
FDRR Fidelity Dividend ETF for Rising Rates 20.3 29 16 7.0 -3.3
FTA First Trust Large Cap Value AlphaDEX Fund 19.8 60 -15 9.4 -0.9
VALQ American Century STOXX U.S. Quality Value ETF 18.9 29 16 9.2 -1.1
RNDV US Equity Dividend Select ETF 18.8 50 -5 7.7 -2.6
MGV Vanguard Mega Cap Value ETF 18.8 7 38 7.3 -3.0
IYZ iShares U.S. Telecommunications ETF 18.7 42 3 7.5 -2.8
REVS Columbia Research Enhanced Value ETF 18.1 19 26 7.8 -2.5
SCHV Schwab U.S. Large-Cap Value ETF 18.0 4 41 7.2 -3.1
VOOV Vanguard S&P 500 Value ETF 18.0 15 30 7.4 -2.9
SPYV SPDR Portfolio S&P 500 Value ETF 17.8 4 41 7.5 -2.8
OUSA O'Shares FTSE US Quality Dividend ETF 17.8 48 -3 5.7 -4.6
IVE iShares S&P 500 Value ETF 17.8 18 27 7.3 -3.0
VTV Vanguard Value Index Fund 17.5 4 41 7.5 -2.8
DIV Global X SuperDividend US ETF 17.4 46 -1 7.2 -3.1
IUSV iShares Core S&P U.S. Value ETF 17.3 4 41 7.6 -2.7
JVAL JPMorgan U.S. Value Factor ETF 17.2 12 33 8.8 -1.5
IEFN iShares Evolved U.S. Financials ETF 17.2 18 27 9.4 -0.9
VFVA Vanguard U.S. Value Factor ETF 17.1 14 31 11.7 +1.4
GCOW Pacer Global High Dividend ETF 17.0 60 -15 10.5 +0.2
JKI iShares Morningstar Mid-Cap Value ETF 16.2 30 15 9.3 -1.0
FDVV Fidelity Core Dividend ETF 16.0 29 16 7.2 -3.1
VFH Vanguard Financials Index Fund 15.9 10 35 8.8 -1.5
QDF FlexShares Quality Dividend Index Fund 15.9 37 8 6.1 -4.2
DIVB iShares U.S. Dividend & Buyback ETF 15.9 25 20 6.6 -3.7
DGRO iShares Core Dividend Growth ETF 15.7 8 37 6.7 -3.6
FNCL Fidelity MSCI Financials Index ETF 15.7 8 37 8.9 -1.4
EQWL Invesco Russell Top 200 Equal Weight ETF 15.6 25 20 6.1 -4.2
IWX iShares Russell Top 200 Value ETF 15.5 20 25 7.2 -3.1
QDEF FlexShares Quality Dividend Defensive Index Fund 15.5 37 8 5.9 -4.4
XLF Financial Select Sector SPDR Fund 15.5 13 32 8.3 -2.0
ONEY SPDR Russell 1000 Yield Focus ETF 15.4 20 25 9.5 -0.8
VONV Vanguard Russell 1000 Value Index Fund 15.3 8 37 7.4 -2.9
DJD Invesco Dow Jones Industrial Average Dividend ETF 15.2 7 38 6.9 -3.4
FAB First Trust Multi Cap Value AlphaDEX Fund 15.2 71 -26 9.8 -0.5
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 15.2 15 30 6.9 -3.4
PRF Invesco FTSE RAFI US 1000 ETF 15.1 39 6 6.9 -3.4
VETS Pacer Military Times Best Employers ETF 15.0 60 -15 7.0 -3.3
NULV Nuveen ESG Large-Cap Value ETF 14.5 35 10 7.4 -2.9
QDYN FlexShares Quality Dividend Dynamic Index Fund 14.4 37 8 6.2 -4.1
FVAL Fidelity Value Factor ETF 14.4 29 16 8.0 -2.3
JDIV JPMorgan U.S. Dividend ETF 14.3 12 33 8.0 -2.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 14.2 25 20 6.6 -3.7
ESGS Columbia Sustainable U.S. Equity Income ETF 14.0 35 10 8.6 -1.7
VLU SPDR S&P 1500 Value Tilt ETF 14.0 12 33 7.5 -2.8
TDIV First Trust NASDAQ Technology Dividend Index Fund 14.0 50 -5 5.8 -4.5
PY Principal Shareholder Yield Index ETF 13.9 29 16 9.7 -0.6
RFDA RiverFront Dynamic US Dividend Advantage ETF 13.6 52 -7 5.0 -5.3
FUTY Fidelity MSCI Utilities Index ETF 13.4 8 37 5.9 -4.4
VPU Vanguard Utilities Index Fund 13.4 10 35 5.9 -4.4
IWD iShares Russell 1000 Value ETF 13.4 19 26 7.2 -3.1
FNDB Schwab Fundamental U.S. Broad Market Index ETF 13.4 25 20 6.6 -3.7
RYF Invesco S&P 500 Equal Weight Financials ETF 13.4 40 5 9.7 -0.6
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 13.4 47 -2 6.5 -3.8
IYG iShares US Financial Services ETF 13.3 42 3 7.0 -3.3
IDU iShares U.S. Utilities ETF 13.2 43 2 5.6 -4.7
JHMU John Hancock Multifactor Utilities ETF 13.0 40 5 6.1 -4.2
WLDR Affinity World Leaders Equity ETF 13.0 47 -2 9.6 -0.7
FMK First Trust Mega Cap AlphaDEX Fund 12.9 70 -25 5.2 -5.1
COWZ Pacer US Cash Cows 100 ETF 12.9 49 -4 11.0 +0.7
JHMF John Hancock Multifactor Financials ETF 12.9 40 5 7.8 -2.5
SPVM Invesco S&P 500 Value with Momentum ETF 12.8 39 6 9.2 -1.1
FLQL Franklin LibertyQ U.S. Equity ETF 12.8 15 30 6.3 -4.0
FLV American Century Focused Large Cap Value ETF 12.8 42 3 6.7 -3.6
ROUS Hartford Multifactor US Equity ETF 12.7 19 26 7.4 -2.9
RPV Invesco S&P 500 Pure Value ETF 12.6 35 10 11.4 +1.1
PFM Invesco Dividend Achievers ETF 12.6 54 -9 5.5 -4.8
RYU Invesco S&P 500 Equal Weight Utilities ETF 12.4 40 5 6.3 -4.0
JXI iShares Global Utilities ETF 12.4 46 -1 6.0 -4.3
XLU Utilities Select Sector SPDR Fund 12.4 13 32 5.9 -4.4
RWL Invesco S&P 500 Revenue ETF 12.4 39 6 7.3 -3.0
EPS WisdomTree U.S. Earnings 500 Fund 12.3 8 37 6.5 -3.8
ACSI American Customer Satisfaction Core Alpha ETF 12.3 66 -21 5.8 -4.5

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:

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 17.2 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 10.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.52
 
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.