First Trust Emerging Markets Small Cap AlphaDEX Fund
ALTAR
Score™		 14.1% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 9.1x P/Sales
ratio		 0.6x
P/BV
ratio		 1.0x Div.
yield		 4.1%


  • 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 15, 2012
Assets (mns) $253
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 223
Wgt avg mkt cap (mns) $2,498
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 33.7%
Small cap (<$2bn) 64.0%
Developed mkts 15.2%
Emerging mkts 84.8%

TOP TEN HOLDINGS
CHINA ZHONGWANG HOLDINGS LTD 4.0 %
EZCONN CORPORATION 1.2 %
ENERYA ENERJI A.S. 1.0 %
ENERGI MEGA PERSADA TBK PT 1.0 %
AREZZO INDUSTRIA E COMERCIO 0.9 %
COGNA EDUCACAO S.A. 0.9 %
PT PETROSEA TBK 0.9 %
MOVIDA PARTICIPACOES SA 0.9 %
ADARO ENERGY PT 0.9 %
RAL YATIRIM HOLDING A.S. 0.9 %
Total 12.7 %

TOP COUNTRY EXPOSURE
CHINA 19.8 %
BRAZIL 13.9 %
TAIWAN 9.6 %
INDONESIA 7.4 %
TURKEY 7.0 %
SOUTH AFRICA 5.3 %
THAILAND 3.4 %
CHILE 2.2 %
MALAYSIA 2.1 %
MEXICO 2.1 %

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.
15.2% 12.3% 10.3% 8.4% 6.2%

Market Correlations
versus... Beta R-squared
S&P500 0.57 26%
MSCI EAFE 0.53 29%
MSCI Emg. Mkts. 0.61 45%

Technical Indicators
Recent close $42.18
30d moving avg. $42.25
Annualized volatility 14.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 23
Turnover 0.4%
Bid/Ask (% of price) 1.03%
ADV underlying (mns) $1,234

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 190 potential alternatives to the First Trust Emerging Markets Small Cap AlphaDEX Fund 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™: 14.1%


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
(%)
BRF VanEck Brazil Small-Cap ETF 11.8 66 14 11.4 -2.7
ECNS iShares MSCI China Small-Cap ETF 11.2 59 21 9.2 -4.9
AVEE Avantis Emerging Markets Small Cap Equity ETF 8.9 42 38 9.7 -4.4
EWZS iShares MSCI Brazil Small-Cap ETF 8.5 59 21 11.2 -2.9
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 8.1 58 22 9.5 -4.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 6.6 59 21 8.6 -5.5
EEMS iShares MSCI Emerging Markets Small Cap ETF 6.5 70 10 7.6 -6.5
DVYE iShares Emerging Markets Dividend ETF 6.5 49 31 17.9 +3.8
EWX SPDR S&P Emerging Markets Small Cap ETF 6.1 65 15 7.9 -6.1
SDIV Global X Superdividend ETF 5.8 58 22 41.9 +27.9
EYLD Cambria Emerging Shareholder Yield ETF 5.8 66 14 11.7 -2.4
TUR iShares MSCI Turkey ETF 5.5 58 22 17.3 +3.2
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 4.8 90 -10 4.9 -9.2
IDX VanEck Indonesia Index ETF 4.6 57 23 7.1 -7.0
AVES Avantis Emerging Markets Value ETF 4.5 36 44 10.8 -3.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 4.1 44 36 10.5 -3.6
DEM WisdomTree Emerging Markets High Dividend Fund 4.0 63 17 12.8 -1.2
ECOW Pacer Emerging Markets Cash Cows 100 ETF 3.5 70 10 11.9 -2.2
AVXC Avantis Emerging Markets Ex-China Equity ETF 3.4 33 47 8.1 -5.9
AVEM Avantis Emerging Markets Equity ETF 2.9 33 47 8.2 -5.8
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.8 60 20 10.8 -3.3
OBOR KraneShares MSCI One Belt One Road Index ETF 2.7 79 1 7.9 -6.1
DFEV Dimensional Emerging Markets Value ETF 2.6 43 37 11.9 -2.1
EIDO iShares MSCI Indonesia ETF 2.6 59 21 7.6 -6.4
UEVM VictoryShares Emerging Markets Value Momentum ETF 2.5 45 35 10.1 -3.9
GVAL Cambria Global Value ETF 2.5 68 12 10.6 -3.5
DEXC Dimensional Emerging Markets ex China Core EquityETF 2.4 53 27 7.3 -6.8
AVSE Avantis Responsible Emerging Markets Equity ETF 2.4 33 47 7.9 -6.1
DFEM Dimensional Emerging Markets Core Equity 2 ETF 2.4 38 42 8.6 -5.5
FDEM Fidelity Emerging Markets Multifactor ETF 2.4 25 55 12.1 -2.0
VIDI Vident International Equity Strategy ETF 2.4 61 19 10.5 -3.6
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 2.3 50 30 10.3 -3.8
CGV Conductor Global Equity Value ETF 2.3 130 -50 7.9 -6.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 2.2 8 72 7.3 -6.8
ECH iShares MSCI Chile ETF 2.2 58 22 7.2 -6.9
EWW iShares MSCI Mexico ETF 2.1 50 30 9.2 -4.8
EPOL iShares MSCI Poland ETF 1.9 59 21 11.1 -3.0
EPHE iShares MSCI Philippines ETF 1.9 59 21 0.0 -14.1
XCNY SPDR S&P Emerging Markets ex-China ETF 1.9 15 65 7.3 -6.8
FLLA Franklin FTSE Latin America ETF 1.8 19 61 12.4 -1.7
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.7 41 39 8.2 -5.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 1.7 95 -15 11.0 -3.1
FLMX Franklin FTSE Mexico ETF 1.5 19 61 9.8 -4.3
RNEM First Trust Emerging Markets Equity Select ETF 1.5 75 5 8.4 -5.7
GOEX Global X Gold Explorers ETF 1.4 65 15 2.8 -11.2
EDIV SPDR S&P Emerging Markets Dividend ETF 1.4 49 31 9.3 -4.7
CUT Invesco MSCI Global Timber ETF 1.4 61 19 11.0 -3.1
EMGF iShares Emerging Markets Equity Factor ETF 1.4 25 55 10.8 -3.3
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 1.3 39 41 15.5 +1.4
EMMF WisdomTree Emerging Markets Multifactor Fund 1.3 48 32 7.0 -7.0
DFAE Dimensional Emerging Core Equity Market ETF 1.3 35 45 8.6 -5.4
RING iShares MSCI Global Gold Miners ETF 1.3 39 41 3.9 -10.2
IEMG iShares Core MSCI Emerging Markets ETF 1.3 9 71 9.8 -4.3
ROAM Hartford Multifactor Emerging Markets ETF 1.2 44 36 11.1 -2.9
VWO Vanguard FTSE Emerging Markets ETF 1.2 7 73 10.1 -3.9
BLDG Cambria Global Real Estate ETF 1.2 60 20 11.6 -2.5
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 1.2 88 -8 8.1 -6.0
RODE Hartford Multifactor Diversified International ETF 1.1 29 51 10.3 -3.7
FLTW Franklin FTSE Taiwan ETF 1.1 19 61 6.1 -7.9
PXH Invesco FTSE RAFI Emerging Markets ETF 1.1 49 31 14.8 +0.8
FLBR Franklin FTSE Brazil ETF 1.0 19 61 13.8 -0.2
SPEM SPDR Portfolio Emerging Markets ETF 1.0 7 73 10.4 -3.7
WOOD iShares Global Timber & Forestry ETF 0.9 42 38 13.4 -0.7
FRDM Freedom 100 Emerging Markets ETF 0.9 49 31 7.4 -6.7
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.9 10 70 6.7 -7.4
XC WisdomTree Emerging Markets Ex-China Fund 0.9 32 48 5.4 -8.6
GXC SPDR S & P China ETF 0.9 59 21 15.7 +1.7
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.8 29 51 8.9 -5.2
GMF SPDR S&P Emerging Asia Pacific ETF 0.8 49 31 9.4 -4.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.8 45 35 9.6 -4.4
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 0.8 72 8 -1.3 -15.3
WBAT WisdomTree Battery Value Chain and Innovation Fund 0.8 45 35 1.4 -12.7
ION ProShares S&P Global Core Battery Metals ETF 0.8 58 22 7.4 -6.7
NIKL Sprott Nickel Miners ETF 0.8 75 5 9.7 -4.4
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.8 12 68 8.2 -5.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.8 30 50 7.5 -6.5
FNDC Schwab Fundamental International Small Co. Index ETF 0.7 39 41 5.7 -8.3
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.7 58 22 4.5 -9.6
FTRI First Trust Indxx Global Natural Resources Income ETF 0.7 70 10 7.8 -6.3
SCHE Schwab Emerging Markets Equity ETF 0.7 11 69 10.5 -3.5
GOAU U.S. Global GO GOLD and Precious Metal Miners ETF 0.7 60 20 3.1 -11.0
SGDJ Sprott Junior Gold Miners ETF 0.7 50 30 3.3 -10.8
EFRA iShares Environmental Infrastructure and Industrials ETF 0.6 47 33 5.4 -8.7
GINN Goldman Sachs Innovate Equity ETF 0.6 52 28 3.7 -10.4
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.6 35 45 16.3 +2.3
JHEM John Hancock Multifactor Emerging Markets ETF 0.6 49 31 9.4 -4.6
JIVE JPMorgan International Value ETF 0.6 55 25 10.9 -3.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.6 47 33 7.9 -6.2
VEGI iShares MSCI Agriculture Producers ETF 0.6 39 41 9.0 -5.1
BCOR Grayscale Bitcoin Adopters ETF 0.6 59 21 2.6 -11.5
IQDF FlexShares International Quality Dividend Index Fund 0.6 47 33 8.5 -5.6
BRAZ Global X Brazil Active ETF 0.6 75 5 11.7 -2.3
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.6 24 56 7.4 -6.7
SMIN iShares MSCI India Small Cap ETF 0.5 79 1 3.7 -10.3
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.5 15 65 7.5 -6.6
EZA iShares MSCI South Africa ETF 0.5 58 22 9.7 -4.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.5 32 48 8.4 -5.6
EWZ iShares MSCI Brazil ETF 0.5 58 22 12.1 -2.0
ICLN iShares Global Clean Energy ETF 0.5 41 39 3.3 -10.8
BKEM BNY Mellon Emerging Markets Equity ETF 0.5 11 69 9.3 -4.8
BOTZ Global X Robotics & Artificial Intelligence ETF 0.5 69 11 2.2 -11.9
FTAG First Trust Indxx Global Agriculture ETF 0.5 70 10 8.3 -5.8
CGGO Capital Group Global Growth Equity ETF 0.5 47 33 4.2 -9.8
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.5 36 44 9.1 -5.0
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.5 15 65 9.7 -4.4
FLAX Franklin FTSE Asia Ex Japan ETF 0.5 19 61 8.4 -5.6
IPAV Global X Infrastructure Development ex-U.S. ETF 0.4 55 25 6.9 -7.2
KGRN KraneShares MSCI China Clean Technology Index ETF 0.4 79 1 0.4 -13.6
IXUS iShares Core MSCI Total International Stock ETF 0.4 7 73 7.6 -6.5
CCNR ALPS CoreCommodity Natural Resources ETF 0.4 39 41 9.3 -4.8
DEHP Dimensional Emerging Markets High Profitability ETF 0.4 41 39 6.4 -7.6
VSGX Vanguard ESG International Stock ETF 0.4 10 70 7.5 -6.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 47 9.3 -4.8
VXUS Vanguard Total International Stock ETF 0.4 5 75 7.7 -6.4
EEMO Invesco S&P Emerging Markets Momentum ETF 0.4 29 51 7.6 -6.5
AFK VanEck Africa Index ETF 0.3 98 -18 14.6 +0.5
SCHC Schwab International Small-Cap Equity ETF 0.3 11 69 7.6 -6.5
LDEM iShares ESG MSCI EM Leaders ETF 0.3 17 63 13.9 -0.2
SDG iShares MSCI Global Sustainable Development Goals ETF 0.3 49 31 5.0 -9.1
DFGR Dimensional Global Real Estate ETF 0.3 22 58 7.8 -6.3
FLCH Franklin FTSE China ETF 0.3 19 61 15.4 +1.3
JETS U.S. Global Jets ETF 0.3 60 20 3.2 -10.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.3 66 14 8.9 -5.2
CXSE WisdomTree China ex-State-Owned Enterprises Fund 0.3 32 48 13.6 -0.4
ERTH Invesco MSCI Sustainable Future ETF 0.3 62 18 3.5 -10.6
AVRE Avantis Real Estate ETF 0.3 17 63 7.3 -6.7
ILF iShares Latin America 40 ETF 0.3 48 32 11.7 -2.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.3 39 41 7.6 -6.4
XCEM Columbia EM Core ex-China ETF 0.3 16 64 7.7 -6.4
CGW Invesco S&P Global Water Index ETF 0.3 57 23 4.7 -9.3
VYMI Vanguard International High Dividend Yield ETF 0.3 17 63 9.1 -5.0
CQQQ Invesco China Technology ETF 0.3 70 10 15.5 +1.4
EWT iShares MSCI Taiwan ETF 0.3 58 22 5.9 -8.2
BLKC Invesco Alerian Galaxy Blockchain Users and Decentralized Co 0.3 61 19 2.3 -11.7
NERD Roundhill Video Games ETF 0.3 50 30 6.6 -7.5
SATO Invesco Alerian Galaxy Crypto Economy ETF 0.3 61 19 -0.6 -14.6
OTGL OTG Latin America ETF 0.3 269 -189 8.4 -5.6
DEW WisdomTree Global High Dividend Fund 0.3 58 22 8.3 -5.8
PICK iShares MSCI Global Metals & Mining Producers ETF 0.3 39 41 11.0 -3.1
SOCL Global X Social Media ETF 0.3 65 15 11.1 -3.0
EMXC iShares MSCI Emerging Markets ex China ETF 0.2 25 55 7.0 -7.1
ESGE iShares ESG Aware MSCI EM ETF 0.2 25 55 9.3 -4.7
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.2 30 50 9.1 -5.0
EMXF iShares ESG Advanced MSCI EM ETF 0.2 16 64 8.0 -6.1
GLOF iShares Global Equity Factor ETF 0.2 20 60 6.7 -7.4
EEM iShares MSCI Emerging Markets ETF 0.2 69 11 9.5 -4.6
ISCF iShares International SmallCap Equity Factor ETF 0.2 23 57 8.1 -5.9
HERO Global X Video Games & Esports ETF 0.2 50 30 4.5 -9.5
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 76 7.7 -6.3
TBLU Tortoise Global Water ESG ETF 0.2 40 40 4.6 -9.4
AQWA Global X Clean Water ETF 0.2 50 30 5.1 -8.9
BJK VanEck Gaming ETF 0.2 65 15 4.6 -9.4
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.2 30 50 9.8 -4.2
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.2 32 48 6.4 -7.7
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 31 6.9 -7.1
FINX Global X FinTech ETF 0.1 68 12 3.2 -10.9
IPKW Invesco International BuyBack Achievers ETF 0.1 55 25 8.9 -5.2
REET iShares Global REIT ETF 0.1 14 66 7.6 -6.5
IDRV iShares Self-driving EV & Tech ETF 0.1 47 33 1.4 -12.7
PBD Invesco Global Clean Energy ETF 0.1 75 5 0.9 -13.1
EV Mast Global Battery Recycling & Production ETF 0.1 65 15 6.8 -7.3
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -9 5.1 -9.0
ARVR First Trust Indxx Metaverse ETF 0.1 70 10 4.2 -9.9
VT Vanguard Total World Stock ETF 0.1 6 74 5.7 -8.3
IGRO iShares International Dividend Growth ETF 0.1 15 65 7.1 -7.0
CHPX Global X AI Semiconductor & Quantum ETF 0.1 50 30 3.3 -10.7
EEMA iShares MSCI Emerging Markets Asia ETF 0.1 49 31 9.1 -5.0
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 0.1 42 38 6.4 -7.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 34 9.6 -4.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 62 7.3 -6.8
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 71 5.6 -8.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.1 41 39 7.1 -6.9
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.1 70 10 8.5 -5.6
IGPT Invesco AI and Next Gen Software ETF 0.1 60 20 4.5 -9.6
BKF iShares MSCI BIC ETF 0.1 69 11 13.0 -1.1
MXI iShares Global Materials ETF 0.1 41 39 7.2 -6.9
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.1 47 33 5.7 -8.4
ACWX iShares MSCI ACWI ex U.S. ETF 0.1 34 46 7.4 -6.7
GGME Invesco Next Gen Media and Gaming ETF 0.1 60 20 4.9 -9.2
MCHI iShares MSCI China ETF 0.1 59 21 16.7 +2.6
VGK Vanguard FTSE Europe ETF 0.0 6 74 7.3 -6.8
SPEU SPDR Portfolio Europe ETF 0.0 7 73 7.2 -6.9
CWI SPDR MSCI ACWI ex-US ETF 0.0 30 50 7.5 -6.5
PATN Pacer Nasdaq International Patent Leaders ETF 0.0 65 15 5.4 -8.6
FNDF Schwab Fundamental International Large Co. Index ETF 0.0 25 55 9.0 -5.0
VEA Vanguard FTSE Developed Markets ETF 0.0 3 77 6.9 -7.2
ACWI iShares MSCI ACWI ETF 0.0 32 48 5.4 -8.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 0.0 45 35 8.4 -5.6
VPL Vanguard FTSE Pacific ETF 0.0 7 73 6.4 -7.6
EPI WisdomTree India Earnings Fund 0.0 85 -5 4.9 -9.2

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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 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 13.6 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 14.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.54
 
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.