First Trust Emerging Markets Small Cap AlphaDEX Fund
ALTAR
Score™		 11.9% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 9.8x P/Sales
ratio		 0.7x
P/BV
ratio		 1.1x 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 15, 2012
Assets (mns) $237
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 222
Wgt avg mkt cap (mns) $1,911
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
ITEQ CORP 2.7 %
CHINA ZHONGWANG HOLDINGS LTD 2.1 %
PELL BIO-MED TECHNOLOGY CO., LTD. 1.8 %
HOLYSTONE ENTERPRISE CO LTD 1.6 %
KATILIMEVIM TASARRUF FINANSMAN AS 1.4 %
EUROPOWER ENERJI VE OTOMASYON TEKN 1.3 %
KAORI HEAT TREATMENT CO., LTD. 1.2 %
REYSAS GAYRIMENKUL YATIRIM OTAKLIG 1.2 %
TOPOINT TECHNOLOGY CO., LTD. 1.1 %
IRPC PUBLIC CO., LTD. 1.1 %
Total 15.5 %

TOP COUNTRY EXPOSURE
TAIWAN 19.5 %
TURKEY 12.8 %
BRAZIL 11.4 %
CHINA 9.0 %
INDONESIA 6.4 %
SOUTH AFRICA 5.9 %
THAILAND 5.7 %
CHILE 2.9 %
MEXICO 2.4 %
PHILIPPINES 1.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
13.8% 12.4% 5.7% 8.4% 6.9%

Market Correlations
versus... Beta R-squared
S&P500 0.95 48%
MSCI EAFE 0.84 55%
MSCI Emg. Mkts. 0.58 67%

Technical Indicators
Recent close $46.95
30d moving avg. $44.95
Annualized volatility 14.6%
Short interest (ETF) 0.3%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 80
Turnover 1.6%
Bid/Ask (% of price) 1.03%
ADV underlying (mns) $1,234

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 198 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™: 11.9%


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 9.2 66 14 11.5 -0.4
AVEE Avantis Emerging Markets Small Cap Equity ETF 9.0 42 38 7.4 -4.4
TUR iShares MSCI Turkey ETF 8.9 58 22 13.5 +1.7
EEMS iShares MSCI Emerging Markets Small Cap ETF 7.8 70 10 6.3 -5.6
EWX SPDR S&P Emerging Markets Small Cap ETF 7.4 65 15 6.4 -5.5
EWZS iShares MSCI Brazil Small-Cap ETF 7.1 59 21 11.9 +0.0
PIE Invesco Dorsey Wright Emerging Markets Momentum ETF 6.3 90 -10 3.3 -8.6
EYLD Cambria Emerging Shareholder Yield ETF 5.9 66 14 8.3 -3.5
ECNS iShares MSCI China Small-Cap ETF 5.6 59 21 9.7 -2.2
AVES Avantis Emerging Markets Value ETF 5.0 36 44 8.6 -3.2
DEM WisdomTree Emerging Markets High Dividend Fund 4.8 63 17 9.7 -2.1
SDIV Global X Superdividend ETF 4.5 58 22 13.6 +1.7
EIDO iShares MSCI Indonesia ETF 4.3 59 21 10.4 -1.5
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 4.3 44 36 9.1 -2.8
IDX VanEck Indonesia Index ETF 4.2 57 23 9.2 -2.7
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 4.2 59 21 8.2 -3.7
DVYE iShares Emerging Markets Dividend ETF 3.6 49 31 16.7 +4.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 3.4 45 35 9.3 -2.5
ECH iShares MSCI Chile ETF 2.6 58 22 7.4 -4.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 2.6 33 47 5.9 -6.0
DFEV Dimensional Emerging Markets Value ETF 2.5 43 37 8.9 -3.0
VIDI Vident International Equity Strategy ETF 2.3 61 19 7.8 -4.1
DEXC Dimensional Emerging Markets ex China Core EquityETF 2.3 53 27 4.9 -7.0
AVSE Avantis Responsible Emerging Markets Equity ETF 2.3 33 47 6.4 -5.5
DFEM Dimensional Emerging Markets Core Equity 2 ETF 2.2 38 42 6.8 -5.1
FLLA Franklin FTSE Latin America ETF 2.1 19 61 10.4 -1.5
AVEM Avantis Emerging Markets Equity ETF 2.0 33 47 6.8 -5.1
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 2.0 8 72 6.1 -5.8
XCNY SPDR S&P Emerging Markets ex-China ETF 1.8 15 65 5.5 -6.4
EDIV SPDR S&P Emerging Markets Dividend ETF 1.7 49 31 8.8 -3.1
EWW iShares MSCI Mexico ETF 1.7 50 30 8.4 -3.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.7 41 39 6.6 -5.3
MINV Matthews Asia Innovators Active ETF 1.6 79 1 5.6 -6.2
CGV Conductor Global Equity Value ETF 1.6 130 -50 7.5 -4.4
ECOW Pacer Emerging Markets Cash Cows 100 ETF 1.6 70 10 9.4 -2.5
EPHE iShares MSCI Philippines ETF 1.5 59 21 0.0 -11.9
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 1.4 10 70 8.6 -3.3
XC WisdomTree Emerging Markets Ex-China Fund 1.4 32 48 6.3 -5.5
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.3 12 68 8.6 -3.3
RNEM First Trust Emerging Markets Equity Select ETF 1.3 75 5 7.7 -4.2
GVAL Cambria Global Value ETF 1.3 68 12 8.0 -3.9
VWO Vanguard FTSE Emerging Markets ETF 1.2 7 73 8.9 -3.0
FLMX Franklin FTSE Mexico ETF 1.2 19 61 8.9 -3.0
DFAE Dimensional Emerging Core Equity Market ETF 1.2 35 45 6.7 -5.2
KGRN KraneShares MSCI China Clean Technology Index ETF 1.2 79 1 4.0 -7.9
FLBR Franklin FTSE Brazil ETF 1.2 19 61 11.4 -0.5
SPEM SPDR Portfolio Emerging Markets ETF 1.1 7 73 9.2 -2.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.1 50 30 7.8 -4.1
PBD Invesco Global Clean Energy ETF 1.1 75 5 0.4 -11.5
JIVE JPMorgan International Value ETF 1.1 55 25 7.7 -4.2
IEMG iShares Core MSCI Emerging Markets ETF 1.0 9 71 7.9 -4.0
FTAG First Trust Indxx Global Agriculture ETF 1.0 70 10 6.5 -5.4
OBOR KraneShares MSCI One Belt One Road Index ETF 1.0 79 1 6.9 -5.0
EPU iShares MSCI Peru and Global Exposure ETF 1.0 59 21 4.2 -7.7
OTGL OTG Latin America ETF 0.9 269 -189 7.5 -4.4
BLDG Cambria Global Real Estate ETF 0.9 60 20 10.9 -0.9
CXSE WisdomTree China ex-State-Owned Enterprises Fund 0.8 32 48 14.9 +3.0
VEXC Vanguard Emerging Markets Ex-China ETF 0.8 7 73 5.5 -6.4
EPOL iShares MSCI Poland ETF 0.8 59 21 8.0 -3.9
IBAT iShares Energy Storage & Materials ETF 0.8 47 33 1.6 -10.3
FLTW Franklin FTSE Taiwan ETF 0.8 19 61 3.1 -8.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.8 30 50 6.1 -5.8
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.8 95 -15 9.3 -2.6
EFRA iShares Environmental Infrastructure and Industrials ETF 0.7 47 33 5.0 -6.8
FRDM Freedom 100 Emerging Markets ETF 0.7 49 31 5.1 -6.8
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.7 32 48 7.3 -4.6
SCHE Schwab Emerging Markets Equity ETF 0.7 11 69 9.1 -2.7
WOOD iShares Global Timber & Forestry ETF 0.6 42 38 10.9 -1.0
PXH Invesco FTSE RAFI Emerging Markets ETF 0.6 49 31 12.7 +0.9
RNRG Global X Renewable Energy Producers ETF 0.6 66 14 4.8 -7.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 0.6 39 41 13.0 +1.1
GXC SPDR S & P China ETF 0.6 59 21 19.0 +7.2
CUT Invesco MSCI Global Timber ETF 0.6 61 19 8.0 -3.9
GMF SPDR S&P Emerging Asia Pacific ETF 0.6 49 31 8.4 -3.5
AIS VistaShares Artificial Intelligence Supercycle ETF 0.6 75 5 1.0 -10.9
MCH Matthews China Active ETF 0.5 79 1 14.8 +2.9
NERD Roundhill Video Games ETF 0.5 50 30 7.3 -4.6
ROAM Hartford Multifactor Emerging Markets ETF 0.5 44 36 7.3 -4.6
CGW Invesco S&P Global Water Index ETF 0.5 57 23 4.5 -7.3
VEGI iShares MSCI Agriculture Producers ETF 0.5 39 41 7.0 -4.9
CQQQ Invesco China Technology ETF 0.5 70 10 16.9 +5.1
EDOG ALPS Emerging Sector Dividend Dogs ETF 0.5 60 20 10.3 -1.6
FDEM Fidelity Emerging Markets Multifactor ETF 0.5 25 55 10.1 -1.8
ERTH Invesco MSCI Sustainable Future ETF 0.5 62 18 3.3 -8.6
CGGO Capital Group Global Growth Equity ETF 0.5 47 33 4.0 -7.9
AQWA Global X Clean Water ETF 0.4 50 30 5.1 -6.8
MEM Matthews Emerging Markets Equity Active ETF 0.4 79 1 8.3 -3.6
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 0.4 60 20 9.1 -2.8
DRIV Global X Autonomous & Electric Vehicles ETF 0.4 68 12 3.4 -8.5
JETS U.S. Global Jets ETF 0.4 60 20 2.6 -9.3
DEEP Roundhill Acquirers Deep Value ETF 0.4 80 0 14.5 +2.6
ICLN iShares Global Clean Energy ETF 0.4 41 39 2.1 -9.8
TAN Invesco Solar ETF 0.4 67 13 5.4 -6.5
OAIM OneAscent International Equity ETF 0.4 95 -15 4.3 -7.6
VSGX Vanguard ESG International Stock ETF 0.4 10 70 6.3 -5.6
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.4 33 47 6.5 -5.4
AVRE Avantis Real Estate ETF 0.4 17 63 6.9 -5.0
SGDJ Sprott Junior Gold Miners ETF 0.4 50 30 1.9 -10.0
IXUS iShares Core MSCI Total International Stock ETF 0.3 7 73 6.4 -5.5
FLCH Franklin FTSE China ETF 0.3 19 61 18.4 +6.5
VXUS Vanguard Total International Stock ETF 0.3 5 75 6.4 -5.5
BKEM BNY Mellon Emerging Markets Equity ETF 0.3 11 69 1.1 -10.8
EV Mast Global Battery Recycling & Production ETF 0.3 65 15 6.4 -5.5
RWX SPDR Dow Jones International Real Estate ETF 0.3 59 21 7.1 -4.8
IPKW Invesco International BuyBack Achievers ETF 0.3 55 25 7.6 -4.3
FLAX Franklin FTSE Asia Ex Japan ETF 0.3 19 61 6.9 -5.0
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.3 58 22 3.7 -8.2
EWZ iShares MSCI Brazil ETF 0.3 58 22 10.2 -1.7
EMC Global X Emerging Markets Great Consumer ETF 0.3 75 5 6.9 -5.0
EMM Global X Emerging Markets ex-China ETF 0.3 75 5 4.5 -7.4
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 0.3 60 20 6.4 -5.5
HERO Global X Video Games & Esports ETF 0.3 50 30 5.6 -6.3
DEHP Dimensional Emerging Markets High Profitability ETF 0.3 41 39 4.7 -7.2
ARVR First Trust Indxx Metaverse ETF 0.3 70 10 3.5 -8.4
EELV Invesco S&P Emerging Markets Low Volatility ETF 0.3 29 51 8.6 -3.3
DFGR Dimensional Global Real Estate ETF 0.3 22 58 7.1 -4.8
TCHI iShares MSCI China Multisector Tech ETF 0.3 59 21 1.6 -10.3
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.3 36 44 7.4 -4.5
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.2 15 65 8.7 -3.2
FNDC Schwab Fundamental International Small Co. Index ETF 0.2 39 41 6.5 -5.4
PICK iShares MSCI Global Metals & Mining Producers ETF 0.2 39 41 7.7 -4.2
FRNW Fidelity Clean Energy ETF 0.2 39 41 2.1 -9.8
FAN First Trust Global Wind Energy ETF 0.2 60 20 3.0 -8.9
VYMI Vanguard International High Dividend Yield ETF 0.2 17 63 7.5 -4.4
IPAV Global X Infrastructure Development ex-U.S. ETF 0.2 55 25 5.8 -6.0
IDRV iShares Self-driving EV & Tech ETF 0.2 47 33 1.5 -10.4
VEU Vanguard FTSE All-World ex-US Index Fund 0.2 4 76 6.5 -5.4
COPY Tweedy, Browne Insider + Value ETF 0.2 80 0 13.9 +2.0
ICPY Tweedy, Browne International Insider Value ETF 0.2 80 0 19.9 +8.1
ESGE iShares ESG Aware MSCI EM ETF 0.2 25 55 7.9 -4.0
RWO SPDR Dow Jones Global Real Estate ETF 0.2 50 30 6.3 -5.6
XCEM Columbia EM Core ex-China ETF 0.2 16 64 4.8 -7.1
SMIN iShares MSCI India Small Cap ETF 0.2 79 1 3.2 -8.7
CCNR ALPS CoreCommodity Natural Resources ETF 0.2 39 41 7.7 -4.2
IHAK iShares Cybersecurity & Tech ETF 0.2 47 33 3.3 -8.6
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 0.2 88 -8 8.5 -3.4
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.1 46 34 7.3 -4.6
AWAY ETFMG Travel Tech ETF 0.1 76 4 1.0 -10.9
ION ProShares S&P Global Core Battery Metals ETF 0.1 58 22 6.1 -5.8
TBLU Tortoise Global Water ESG ETF 0.1 40 40 4.6 -7.3
PATN Pacer Nasdaq International Patent Leaders ETF 0.1 65 15 4.0 -7.9
FPXE First Trust IPOX Europe Equity Opportunities ETF 0.1 70 10 4.1 -7.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.1 15 65 7.8 -4.1
LDEM iShares ESG MSCI EM Leaders ETF 0.1 17 63 12.4 +0.5
AFK VanEck Africa Index ETF 0.1 98 -18 10.1 -1.8
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 0.1 49 31 5.8 -6.1
VT Vanguard Total World Stock ETF 0.1 6 74 4.9 -7.0
GDXJ VanEck Junior Gold Miners ETF 0.1 52 28 2.6 -9.3
EMGF iShares Emerging Markets Equity Factor ETF 0.1 25 55 8.6 -3.3
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.1 47 33 5.0 -6.9
SCHC Schwab International Small-Cap Equity ETF 0.1 11 69 6.4 -5.5
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.1 18 62 6.1 -5.8
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.1 9 71 4.7 -7.1
BKF iShares MSCI BIC ETF 0.1 69 11 14.7 +2.8
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 0.1 39 41 6.6 -5.3
JHEM John Hancock Multifactor Emerging Markets ETF 0.1 49 31 7.2 -4.7
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 0.1 45 35 7.8 -4.1
SMLF iShares U.S. SmallCap Equity Factor ETF 0.1 15 65 4.8 -7.1
REET iShares Global REIT ETF 0.1 14 66 7.0 -4.9
IGRO iShares International Dividend Growth ETF 0.1 15 65 6.4 -5.5
EVLU iShares MSCI Emerging Markets Value Factor ETF 0.1 35 45 9.6 -2.3
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 0.1 32 48 4.5 -7.4
GGME Invesco Next Gen Media and Gaming ETF 0.1 60 20 4.4 -7.5
MCHI iShares MSCI China ETF 0.1 59 21 20.7 +8.8
EEM iShares MSCI Emerging Markets ETF 0.1 69 11 7.5 -4.4
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 0.1 69 11 7.5 -4.4
EMXC iShares MSCI Emerging Markets ex China ETF 0.1 25 55 4.9 -7.0
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 0.1 24 56 5.0 -6.9
GINN Goldman Sachs Innovate Equity ETF 0.1 52 28 3.6 -8.3
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 0.0 30 50 7.7 -4.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.0 30 50 7.2 -4.7
EEMO Invesco S&P Emerging Markets Momentum ETF 0.0 29 51 6.3 -5.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.0 66 14 7.2 -4.7
DFSV Dimensional US Small Cap Value ETF 0.0 31 49 8.3 -3.5
GLOF iShares Global Equity Factor ETF 0.0 20 60 5.4 -6.5
JSTC Adasina Social Justice All Cap Global ETF 0.0 89 -9 4.3 -7.6
EMXF iShares ESG Advanced MSCI EM ETF 0.0 16 64 6.4 -5.5
DFAS Dimensional U.S. Small Cap ETF 0.0 26 54 5.4 -6.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 39 5.8 -6.1
EEMA iShares MSCI Emerging Markets Asia ETF 0.0 49 31 7.2 -4.7
DEW WisdomTree Global High Dividend Fund 0.0 58 22 6.9 -5.0
SPEU SPDR Portfolio Europe ETF 0.0 7 73 6.3 -5.6
DFAT Dimensional U.S. Targeted Value ETF 0.0 28 52 8.2 -3.7
ACWX iShares MSCI ACWI ex U.S. ETF 0.0 34 46 6.1 -5.8
VGK Vanguard FTSE Europe ETF 0.0 6 74 6.4 -5.5
VIGI Vanguard International Dividend Appreciation ETF 0.0 10 70 5.8 -6.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.0 70 10 6.6 -5.3
WRND IQ Global Equity R&D Leaders ETF 0.0 18 62 4.0 -7.9
VEA Vanguard FTSE Developed Markets ETF 0.0 3 77 5.7 -6.2
DCOR Dimensional US Core Equity 1 ETF 0.0 14 66 4.5 -7.4
DFSU Dimensional US Sustainability Core 1 ETF 0.0 18 62 4.6 -7.3
ACWI iShares MSCI ACWI ETF 0.0 32 48 4.6 -7.3
DXUV Dimensional US Vector Equity ETF 0.0 28 52 5.0 -6.9
DFUS Dimensional U.S. Equity ETF 0.0 9 71 4.0 -7.9
DFAU Dimensional US Core Equity Market ETF 0.0 12 68 4.2 -7.7
XT iShares Exponential Technologies ETF 0.0 46 34 3.9 -8.0
DFAC Dimensional U.S. Core Equity 2 ETF 0.0 17 63 4.6 -7.3
DFUV Dimensional US Marketwide Value ETF 0.0 22 58 5.8 -6.1

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

  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 12.6 %
Divided by: Fwd. P/BV 1.0 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 11.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.61 CATEGORY
AVERAGE		 1.53
 
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.