First Trust Emerging Markets Small Cap
ALTAR
Score™
10.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
8.2x P/Sales
ratio
0.5x
P/BV
ratio
0.9x Div.
yield
4.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Emerging Markets Small Cap AlphaDEX Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the Defined Emerging Markets Small Cap Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Feb 16, 2012
Assets (mns) $133
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 201
Wgt avg mkt cap (mns) $1,267
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 24.0%
Small cap (<$2bn) 74.7%
Developed mkts 10.4%
Emerging mkts 89.6%

TOP TEN HOLDINGS
TAIWAN SURFACE MOUNTING TECH 1.0 %
Q TECHNOLOGY (GROUP) CO. LTD. 1.0 %
EVEN CONSTRUTORA E INCORPORA 1.0 %
SISTEMA PJSFC 1.0 %
PEGASUS HAVA TASIMACILIGI AS 1.0 %
RUENTEX DEVELOPMENT CO LTD 0.9 %
RUENTEX INDUSTRIES LTD 0.9 %
HARMONY GOLD MINING CO LTD 0.9 %
UNIMICRON TECHNOLOGY CORP 0.9 %
HANNSTAR BOARD CORP 0.9 %
Total 9.6 %

TOP COUNTRY EXPOSURE
TAIWAN 24.9 %
TURKEY 13.5 %
CHINA 11.0 %
BRAZIL 10.6 %
HONG KONG 7.9 %
SOUTH AFRICA 5.4 %
INDONESIA 4.4 %
MEXICO 1.7 %
POLAND 1.6 %
PHILIPPINES 1.3 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
13.9% 14.5% 4.0% -- 4.8%

Market Correlations
versus... Beta R-squared
S&P500 0.86 32%
MSCI EAFE 1.14 48%
MSCI Emg. Mkts. 1.15 79%

Technical Indicators
Recent close $36.41
30d moving avg. $35.68
Annualized volatility 18.3%
Short interest (ETF) 0.0%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.5%
Bid/Ask (% of price) 0.48%
ADV underlying (mns) $1,157

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FEMS Expense: 80 bp ALTAR Score™: 10.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FEMS
Ticker Fund
Name
Overlap1
vs FEMS
(%)
Expense
ratio
(bp)
Savings
vs FEMS
(bp)
ALTAR
Score™
(%)
ALTAR
vs FEMS
(%)
DGS WisdomTree Emg. Mkts. Small Cap Dividend 15.7 63 17 12.2 +1.6
EWX SPDR S&P Emerging Markets Small Cap 13.4 65 15 7.9 -2.7
EEMS iShares MSCI Emerging Market Small Cap 12.3 67 13 6.4 -4.1
TUR iShares MSCI Turkey Investable 10.2 59 21 15.9 +5.4
ECNS iShares MSCI China Small Cap 9.8 59 21 9.9 -0.6
HAO Invesco China Small Cap ETF 9.0 75 5 9.5 -1.0
EWZS iShares MSCI Brazil Small-Cap 8.2 59 21 5.4 -5.2
RFEM First Trust Riverfront Dynamic Emerging Markets 7.3 95 -15 10.7 +0.1
TLTE FlexShares Mngstr Emerging Markets Factor Tilt 7.1 59 21 10.5 -0.1
BRF VanEck Vectors Brazil Small Cap 6.8 60 20 8.6 -2.0
EYLD Cambria Emerging Shareholder Yield 6.6 66 14 10.9 +0.3
UEVM USAA MSCI Emerging Markets Value Momentum Blend Index 5.3 45 35 13.1 +2.5
PIE Invesco DWA Emg. Mkts. Technical Leaders 5.3 90 -10 5.1 -5.5
ROAM Hartford Multifactor Emerging Markets 5.1 44 36 11.1 +0.5
CEY VictoryShares Emg. Mkt. High Dividend Volatility Wtd. 4.9 50 30 13.4 +2.8
DVYE iShares Emerging Markets Dividend 4.7 49 31 13.8 +3.2
AVEM Avantis Emerging Markets Equity 4.7 33 47 8.3 -2.3
SDEM Global X SuperDividend Emg Mkts 4.7 67 13 18.5 +7.9
DEM WisdomTree Emerg Mkts High Yield Equity 4.6 63 17 12.4 +1.9
CEZ Victory CEMP Emerging Market Volatility Weighted 4.2 50 30 9.1 -1.4

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

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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 Emerging Markets Small Cap
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 9.2 %
Divided by: Fwd. P/BV 0.8 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 10.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 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.