First Trust Europe AlphaDEX Fund
ALTAR
Score™
7.2% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
45.7x P/Sales
ratio
1.1x
P/BV
ratio
1.3x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Europe AlphaDEX Fund seeks investment results that correspond to the Defined Europe Index.

FUND BASICS
Category International Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Apr 18, 2011
Assets (mns) $355
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 200
Wgt avg mkt cap (mns) $18,201
Large cap (>$10bn) 49.4%
Mid cap ($2-10bn) 47.5%
Small cap (<$2bn) 1.1%
Developed mkts 98.4%
Emerging mkts 0.8%

TOP TEN HOLDINGS
JUNGHEINRICH - PRFD 0.9 %
GAMESA CORP TECNOLOGICA SA 0.9 %
VESTAS WIND SYSTEMS A/S 0.9 %
WACKER CHEMIE AG 0.9 %
KINGFISHER PLC 0.9 %
BELLWAY PLC 0.9 %
ORANGE SA 0.9 %
ZALANDO SE 0.9 %
ILIAD SA 0.9 %
KINNEVIK AB CLASS B 0.9 %
Total 8.8 %

TOP COUNTRY EXPOSURE
BRITAIN 19.0 %
GERMANY 19.0 %
FRANCE 12.4 %
SWEDEN 10.6 %
ITALY 5.9 %
SWITZERLAND 5.3 %
DENMARK 5.2 %
NETHERLANDS 4.8 %
LUXEMBOURG 3.5 %
FINLAND 3.4 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-10.5% -1.4% 5.4% -- 2.9%

Market Correlations
versus... Beta R-squared
S&P500 1.08 79%
MSCI EAFE 1.29 93%
MSCI Emg. Mkts. 0.94 78%

Technical Indicators
Recent close $33.97
30d moving avg. $33.93
Annualized volatility 21.5%
Short interest (ETF) 0.0%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 61
Turnover 0.6%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $8,999

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the First Trust Europe AlphaDEX Fund ETF based on the alternatives' overlap in portfolio holdings with FEP. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FEP Expense: 80 bp ALTAR Score™: 7.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FEP
Ticker Fund
Name
Overlap1
vs FEP
(%)
Expense
ratio
(bp)
Savings
vs FEP
(bp)
ALTAR
Score™
(%)
ALTAR
vs FEP
(%)
FEUZ First Trust Eurozone AlphaDEX ETF 53.8 80 0 7.3 +0.1
FDT First Trust Developed Markets ex-US Alphadex Fund 41.8 80 0 7.3 +0.0
SCID Global X Scientific Beta Europe ETF 26.4 39 41 0.0 -7.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 23.3 25 55 6.5 -0.8
UIVM VictoryShares USAA MSCI International Value Momentum ETF 23.1 35 45 8.6 +1.4
FLEE Franklin FTSE Europe ETF 20.1 9 71 7.1 -0.1
FLEH Franklin FTSE Europe Hedged ETF 20.1 9 71 7.2 0.0
VGK Vanguard FTSE Europe ETF 20.0 8 72 7.5 +0.3
IEUR iShares Core MSCI Europe ETF 19.8 9 71 7.3 +0.1
BBEU JPMorgan BetaBuilders Europe ETF 19.5 9 71 7.4 +0.2
FEU SPDR Portfolio Europe ETF 19.4 9 71 7.4 +0.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 18.9 45 35 6.8 -0.4
IEV iShares Europe ETF 18.8 59 21 6.9 -0.3
FKU First Trust United Kingdom AlphaDEX Fund 18.6 80 0 8.0 +0.8
EURZ Xtrackers Eurozone Equity ETF 18.0 9 71 7.1 -0.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 17.8 45 35 6.8 -0.4
IEUS iShares MSCI Europe Small-Cap ETF 16.9 40 40 7.6 +0.4
EZU iShares MSCI Eurozone ETF 16.4 49 31 6.6 -0.6
RFEU First Trust Riverfront Dynamic Europe ETF 16.3 83 -3 5.8 -1.4
FGM First Trust Germany AlphaDEX Fund 16.1 80 0 5.9 -1.3
PQIN PGIM QMA Strategic Alpha International Equity ETF 16.0 29 51 7.8 +0.6
QINT American Century Quality Diversified International ETF 15.8 39 41 6.1 -1.2
JHMD John Hancock Multifactor Developed International ETF 15.7 39 41 7.3 +0.1
RODM Hartford Multifactor Developed Markets (ex-US) ETF 15.6 29 51 7.7 +0.5
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 15.4 45 35 6.9 -0.3
CIL VictoryShares International Volatility Weighted Index ETF 15.3 45 35 6.9 -0.3
PDEV Principal International Multi-Factor Core Index ETF 15.1 25 55 8.0 +0.7
INTF iShares Edge MSCI Multifactor Intl ETF 14.9 30 50 7.9 +0.7
GSIE Goldman Sachs ActiveBeta International Equity ETF 14.9 25 55 6.6 -0.6
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 14.8 24 56 6.9 -0.3
IQIN IQ 500 International ETF 14.4 25 55 8.7 +1.5
IVLU iShares Edge MSCI Intl Value Factor ETF 14.2 30 50 11.7 +4.5
EFV iShares MSCI EAFE Value ETF 14.1 39 41 9.8 +2.6
DWCR Arrow DWA Country Rotation ETF 13.9 95 -15 13.4 +6.1
PIZ Invesco DWA Developed Markets Momentum ETF 13.9 81 -1 4.5 -2.7
DIM WisdomTree International MidCap Dividend Fund 13.9 58 22 7.5 +0.3
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 13.6 45 35 8.9 +1.7
ISZE iShares Edge MSCI Intl Size Factor ETF 13.5 30 50 7.1 -0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 13.5 20 60 7.5 +0.2
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 13.3 20 60 7.1 -0.2
EFA iShares MSCI EAFE ETF 13.1 32 48 7.1 -0.2
TPIF Timothy Plan International ETF 13.0 62 18 6.3 -0.9
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 13.0 35 45 7.0 -0.3
IEFA iShares Core MSCI EAFE ETF 12.9 7 73 7.3 +0.1
FNDF Schwab Fundamental International Large Co. Index ETF 12.9 25 55 8.8 +1.6
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 12.7 7 73 7.5 +0.3
RESD WisdomTree International ESG Fund 12.6 30 50 6.8 -0.4
RFDI First Trust Riverfront Dynamic Developed International ETF 12.6 83 -3 5.7 -1.6
DWMF WisdomTree International Multifactor Fund 12.5 38 42 6.2 -1.0
DMXF iShares ESG Advanced MSCI EAFE ETF 12.5 12 68 6.9 -0.4
FLGR Franklin FTSE Germany ETF 12.5 9 71 7.3 +0.1
GSID Goldman Sachs MarketBeta International Equity ETF 12.4 20 60 7.3 +0.1
ESGD iShares MSCI EAFE ESG Optimized ETF 12.3 20 60 6.9 -0.3
WWJD Inspire International ESG ETF 12.3 80 0 7.5 +0.3
IDEV iShares Core MSCI International Developed Markets ETF 12.0 5 75 7.2 -0.0
AVDE Avantis International Equity ETF 12.0 23 57 7.6 +0.4
SMEZ SPDR EURO STOXX Small Cap ETF 11.9 45 35 6.4 -0.8
DBGR Xtrackers MSCI Germany Hedged Equity ETF 11.9 45 35 7.1 -0.1
SCHF Schwab International Equity ETF 11.8 6 74 7.3 +0.0
JPIN JPMorgan Diversified Return International Equity ETF 11.8 37 43 7.8 +0.6
IQSI IQ Candriam ESG International Equity ETF 11.7 15 65 7.4 +0.2
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 11.6 39 41 6.5 -0.7
OEUR O'shares FTSE Europe Quality Dividend ETF 11.5 48 32 6.9 -0.4
SPDW SPDR Portfolio Developed World ex-US ETF 11.4 4 76 7.1 -0.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 11.4 35 45 8.7 +1.5
RNDM Developed International Equity Select ETF 11.3 65 15 6.2 -1.0
VEA Vanguard FTSE Developed Markets ETF 11.1 5 75 7.4 +0.1
ICOW Pacer Developed Markets International Cash Cows 100 ETF 11.0 65 15 10.8 +3.6
IDMO Invesco S&P International Developed Momentum ETF 11.0 26 54 4.0 -3.2
EWG iShares MSCI Germany ETF 11.0 49 31 7.0 -0.2
DWM WisdomTree International Equity Fund 10.9 48 32 8.5 +1.3
ISDX Invesco Strategic Developed ex-US ETF 10.9 23 57 7.4 +0.2
BKIE BNY Mellon International Equity ETF 10.7 4 76 7.5 +0.2
QEFA SPDR MSCI EAFE Quality Mix ETF 10.7 30 50 6.8 -0.4
IMTM iShares Edge MSCI Intl Momentum Factor ETF 10.4 30 50 4.4 -2.9
FLFR Franklin FTSE France ETF 10.3 9 71 6.9 -0.4
FLGB Franklin FTSE United Kingdom ETF 10.2 9 71 8.0 +0.8
SCZ iShares MSCI Eafe Small-Cap ETF 9.9 40 40 6.9 -0.3
DTH WisdomTree DEFA Equity Income Fund 9.9 58 22 10.1 +2.9
RBIN Nationwide Risk-Based International Equity ETF 9.8 42 38 6.1 -1.2
IMOM Alpha Architect International Quantitative Momentum ETF 9.8 59 21 3.2 -4.0
VSGX Vanguard ESG International Stock ETF 9.7 17 63 7.0 -0.2
QGBR SPDR MSCI UK StrategicFactors ETF 9.6 14 66 8.3 +1.0
VGFO Virtus WMC Global Factor Opportunities ETF 9.4 49 31 8.2 +0.9
EWQ iShares MSCI France ETF 9.3 50 30 6.4 -0.8
EWU iShares MSCI United Kingdom ETF 9.3 50 30 7.6 +0.4
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 9.2 39 41 8.3 +1.1
FIVA Fidelity International Value Factor ETF 9.1 39 41 10.0 +2.8
DXGE WisdomTree Germany Hedged Equity Fund 9.1 48 32 8.9 +1.6
IDLB Invesco FTSE International Low Beta Equal Weight ETF 9.1 45 35 6.5 -0.8
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 9.0 14 66 6.9 -0.3
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 9.0 45 35 11.0 +3.8
FDEV Fidelity Targeted International Factor ETF 8.9 39 41 6.5 -0.7
VEU Vanguard FTSE All-World ex-US Index Fund 8.7 8 72 7.5 +0.3
NUDM Nuveen ESG International Developed Markets Equity ETF 8.7 40 40 6.8 -0.4
LVIN Hartford Multifactor Low Volatility International Equity ETF 8.6 29 51 11.5 +4.3
ACWX iShares MSCI ACWI ex U.S. ETF 8.6 32 48 7.2 0.0
BLES Inspire Global Hope Large Cap ETF 8.5 52 28 6.6 -0.7

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 Europe AlphaDEX Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.2 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 CATEGORY
AVERAGE
1.57
 
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.