First Trust Eurozone AlphaDex
ALTAR
Score™
6.9% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
14.1x P/Sales
ratio
0.7x
P/BV
ratio
1.3x Div.
yield
3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Eurozone AlphaDex Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the price and yield of an index called the NASDAQ AlphaDEX? Eurozone Index.

FUND BASICS
Category International Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Oct 22, 2014
Assets (mns) $52
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 150
Wgt avg mkt cap (mns) $17,938
Large cap (>$10bn) 46.9%
Mid cap ($2-10bn) 50.5%
Small cap (<$2bn) 1.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
GALAPAGOS NV 1.3 %
ARCELORMITTAL SA 1.3 %
DEUTSCHE LUFTHANSA-REG 1.3 %
ASM INTERNATIONAL N.V. 1.2 %
HELLA GMBH & CO. KGAA 1.2 %
PORSCHE AUTOMOBIL HLDG-PFD 1.2 %
BASF SE 1.2 %
SCHAEFFLER AG 1.1 %
ALTICE NV CLASS A 1.1 %
BUZZI UNICEM S.P.A. 1.1 %
Total 12.1 %

TOP COUNTRY EXPOSURE
GERMANY 30.7 %
FRANCE 22.3 %
ITALY 15.1 %
BELGIUM 6.3 %
NETHERLANDS 5.8 %
SPAIN 4.4 %
LUXEMBOURG 4.3 %
FINLAND 4.0 %
AUSTRIA 3.1 %
IRELAND 1.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
19.0% 12.6% 6.0% -- 6.6%

Market Correlations
versus... Beta R-squared
S&P500 0.98 55%
MSCI EAFE 1.38 89%
MSCI Emg. Mkts. 0.96 69%

Technical Indicators
Recent close $40.04
30d moving avg. $39.88
Annualized volatility 16.0%
Short interest (ETF) 0.4%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.6%
Bid/Ask (% of price) 1.12%
ADV underlying (mns) $7,417

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FEUZ Expense: 80 bp ALTAR Score™: 6.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FEUZ
Ticker Fund
Name
Overlap1
vs FEUZ
(%)
Expense
ratio
(bp)
Savings
vs FEUZ
(bp)
ALTAR
Score™
(%)
ALTAR
vs FEUZ
(%)
FEP First Trust Europe AlphaDEX 61.1 80 0 7.2 +0.3
EURZ Xtrackers Eurozone Equity 28.6 9 71 7.0 +0.0
DBEZ Xtrackers MSCI EMU Hedged 27.1 45 35 6.4 -0.5
FDT First Trust Developed Markets ex-US AlphaDEX 26.7 80 0 8.0 +1.1
EZU iShares MSCI Euro Monetary Union 26.5 47 33 6.7 -0.3
FGM First Trust Germany 24.7 80 0 8.7 +1.7
SCID Global X Scientific Beta Europe 24.3 38 42 6.4 -0.5
SMEZ SPDR Euro Stoxx Small Cap 23.1 46 34 5.3 -1.7
JPEU JPMorgan Diversified Return Europe Equity 21.6 37 43 6.6 -0.4
RFEU First Trust Riverfront Dynamic Europe 19.5 83 -3 6.2 -0.8
EUSC WisdomTree Europe Hedged SmallCap Equity Fund 19.0 58 22 7.4 +0.4
IQIN IQ 500 International 18.9 25 55 8.3 +1.4
GSEU Goldman Sachs ActiveBeta Europe Equity 18.7 25 55 6.3 -0.6
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE 17.8 30 50 6.7 -0.3
FLGR Franklin FTSE Germany 17.7 9 71 7.9 +1.0
FLEE Franklin FTSE Europe 17.5 9 71 6.8 -0.1
FLEH Franklin FTSE Europe Hedged 17.3 9 71 6.9 0.0
IEUR iShares Core MSCI Europe 17.3 9 71 6.8 -0.2
BBEU JPMorgan BetaBuilders Europe 17.2 9 71 6.8 -0.1
FEU SPDR DJ Stoxx 50 17.1 9 71 6.8 -0.2

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

  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 Eurozone AlphaDex
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 9.4 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 6.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.63
 
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.