ETF Research Center

First Trust Eurozone AlphaDEX ETF

ALTAR
Score™

9.0%

Recommen-
dation

SPECULATIVE

2025E 2026E
P/E ratio	11.4x	P/Sales ratio	0.8x
P/BV ratio	1.4x	Div. yield	3.3%

Description
Performance
Comps
Fundamentals
Valuation
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 21, 2014
Assets (mns)	$85
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	152
Wgt avg mkt cap (mns)	$27,840
Large cap (>$10bn)	63.5%
Mid cap ($2-10bn)	36.4%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	12.0 %
SANOFI-AVENTIS	1.2 %
HOCHTIEF AG	1.2 %
RWE AG	1.2 %
ARCELORMITTAL SA	1.2 %
NORDEX AG	1.2 %
THYSSENKRUPP AG	1.2 %
ACS ACTIVIDADES CONS Y SERV	1.2 %
PRYSMIAN SPA	1.2 %
BUZZI UNICEM S.P.A.	1.2 %
BANCO BILBAO VIZCAYA ARGENTA	1.2 %

TOP COUNTRY EXPOSURE
	GERMANY	28.9 %
	FRANCE	16.8 %
	ITALY	15.8 %
	SPAIN	10.2 %
	AUSTRIA	5.2 %
	NETHERLANDS	5.1 %
	GREECE	3.5 %
	LUXEMBOURG	3.4 %
	BELGIUM	3.0 %
	FINLAND	1.3 %

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.
45.6%	34.9%	12.5%	9.4%	8.1%

Market Correlations
versus...	Beta	R-squared
S&P500	0.77	37%
MSCI EAFE	0.82	53%
MSCI Emg. Mkts.	0.57	28%

Technical Indicators
Recent close	$58.75
30d moving avg.	$58.34
Annualized volatility	17.0%
Short interest (ETF)	1.8%
Relative strength (RSI)	50

Liquidity measures
Avg. volume (thou.)	2
Turnover	0.1%
Bid/Ask (% of price)	1.88%
ADV underlying (mns)	$5,366

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 401 potential alternatives to the First Trust Eurozone AlphaDEX ETF 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™:

9.0%

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 Fund	58.5	80	0	9.0	-0.1
DBEZ	Xtrackers MSCI Eurozone Hedged Equity ETF	30.5	45	35	6.7	-2.3
EZU	iShares MSCI Eurozone ETF	28.4	52	28	6.6	-2.5
FGM	First Trust Germany AlphaDEX Fund	26.2	80	0	6.3	-2.8
UIVM	VictoryShares International Value Momentum ETF	23.7	35	45	9.0	-0.1
GSEU	Goldman Sachs ActiveBeta Europe Equity ETF	23.1	25	55	7.2	-1.8
EUSC	WisdomTree Europe Hedged SmallCap Equity Fund	22.0	58	22	8.6	-0.4
DBEU	Xtrackers MSCI Europe Hedged Equity ETF	20.1	46	34	6.5	-2.6
IEV	iShares Europe ETF	19.6	67	13	6.7	-2.3
IVLU	iShares MSCI Intl Value Factor ETF	19.4	30	50	10.2	+1.2
BBEU	JPMorgan BetaBuilders Europe ETF	19.3	9	71	7.1	-2.0
IEUR	iShares Core MSCI Europe ETF	19.3	11	69	7.3	-1.8
SPEU	SPDR Portfolio Europe ETF	19.2	7	73	7.3	-1.8
HEDJ	WisdomTree Europe Hedged Equity Fund	18.9	58	22	6.4	-2.6
VGK	Vanguard FTSE Europe ETF	18.8	6	74	7.4	-1.7
FLEE	Franklin FTSE Europe ETF	18.7	9	71	7.1	-1.9
EFV	iShares MSCI EAFE Value ETF	17.9	34	46	9.0	-0.1
DIM	WisdomTree International MidCap Dividend Fund	17.6	58	22	7.5	-1.5
CIL	VictoryShares International Volatility Wtd ETF	17.2	45	35	6.6	-2.5
GSIE	Goldman Sachs ActiveBeta International Equity ETF	16.6	25	55	7.0	-2.0
TPIF	Timothy Plan International ETF	16.6	62	18	6.1	-2.9
FDT	First Trust Developed Markets ex-US AlphaDEX Fund	16.4	80	0	9.3	+0.3
QINT	American Century Quality Diversified International ETF	16.4	39	41	7.2	-1.8
PXF	Invesco FTSE RAFI Developed Markets ex-U.S. ETF	16.0	45	35	8.6	-0.4
DFIV	Dimensional International Value ETF	15.8	27	53	9.5	+0.5
INTF	iShares International Equity Factor ETF	15.6	15	65	7.5	-1.6
DDWM	WisdomTree Dynamic Currency Hedged International Equity Fund	15.4	40	40	7.3	-1.7
JHMD	John Hancock Multifactor Developed International ETF	15.3	39	41	7.4	-1.6
FNDF	Schwab Fundamental International Large Co. Index ETF	15.2	25	55	9.3	+0.2
IMTM	iShares MSCI Intl Momentum Factor ETF	15.2	30	50	5.5	-3.6
DWM	WisdomTree International Equity Fund	15.0	48	32	7.3	-1.8
DBEF	Xtrackers MSCI EAFE Hedged Equity ETF	14.8	36	44	6.3	-2.8
HFXI	IQ FTSE International Equity Currency Neutral ETF	14.8	20	60	6.8	-2.2
EWG	iShares MSCI Germany ETF	14.8	50	30	6.4	-2.6
FIVA	Fidelity International Value Factor ETF	14.8	18	62	9.7	+0.6
FEZ	SPDR EURO STOXX 50 ETF	14.6	29	51	7.0	-2.1
EFA	iShares MSCI EAFE ETF	14.5	35	45	6.6	-2.5
DWMF	WisdomTree International Multifactor Fund	14.4	38	42	7.1	-2.0
DOL	WisdomTree International LargeCap Dividend Fund	14.4	48	32	7.1	-1.9
ESGD	iShares ESG Aware MSCI EAFE ETF	14.3	20	60	6.6	-2.5
RFEU	First Trust Riverfront Dynamic Europe ETF	14.0	83	-3	10.3	+1.3
EFAX	SPDR MSCI EAFE Fossil Fuel Free ETF	13.8	20	60	6.2	-2.8
GSID	Goldman Sachs MarketBeta International Equity ETF	13.6	20	60	6.8	-2.3
FLGR	Franklin FTSE Germany ETF	13.5	9	71	7.2	-1.9
LCTD	BlackRock World ex U.S. Carbon Transition Readiness ETF	13.5	20	60	6.3	-2.7
IDMO	Invesco S&P International Developed Momentum ETF	13.5	25	55	5.3	-3.7
IEFA	iShares Core MSCI EAFE ETF	13.3	7	73	6.9	-2.2
DFIC	Dimensional International Core Equity 2 ETF	13.3	23	57	7.3	-1.7
DTH	WisdomTree International High Dividend Fund	13.2	58	22	8.5	-0.6
IDV	iShares International Select Dividend ETF	13.0	51	29	10.6	+1.5
DIVI	Franklin International Core Dividend Tilt Index ETF	12.9	9	71	7.8	-1.2
VWID	Virtus WMC International Dividend ETF	12.9	49	31	8.4	-0.6
JHID	John Hancock International High Dividend ETF	12.7	46	34	9.4	+0.3
BKIE	BNY Mellon International Equity ETF	12.6	4	76	6.9	-2.1
QEFA	SPDR MSCI EAFE StrategicFactors ETF	12.6	30	50	6.9	-2.1
STXI	Strive International Developed Markets ETF	12.6	29	51	6.5	-2.5
DAX	Global X DAX Germany ETF	12.4	21	59	6.8	-2.3
AVDE	Avantis International Equity ETF	12.4	23	57	7.2	-1.8
EWQ	iShares MSCI France ETF	12.2	53	27	7.1	-2.0
IDEV	iShares Core MSCI International Developed Markets ETF	12.1	4	76	6.8	-2.2
SCHF	Schwab International Equity ETF	12.0	6	74	7.1	-2.0
IMOM	Alpha Architect International Quantitative Momentum ETF	11.9	49	31	3.2	-5.9
DFAI	Dimensional International Core Equity Market ETF	11.9	18	62	7.0	-2.0
DXIV	Dimensional International Vector Equity ETF	11.9	34	46	7.7	-1.3
EUFN	iShares MSCI Europe Financials ETF	11.8	51	29	8.0	-1.0
FENI	Fidelity Enhanced International ETF	11.8	28	52	6.5	-2.6
SPDW	SPDR Portfolio Developed World ex-US ETF	11.8	3	77	6.8	-2.2
ICOW	Pacer Developed Markets International Cash Cows 100 ETF	11.7	65	15	11.6	+2.6
MFDX	PIMCO RAFI Dynamic Multi-Factor International Equity ETF	11.7	39	41	6.7	-2.4
WWJD	Inspire International ETF	11.7	80	0	7.2	-1.8
VYMI	Vanguard International High Dividend Yield ETF	11.6	17	63	9.5	+0.5
AVIV	Avantis International Large Cap Value ETF	11.6	25	55	8.4	-0.7
CEFA	Global X S&P Catholic Values Developed ex-US ETF	11.6	35	45	6.5	-2.6
AVSD	Avantis Responsible International Equity ETF	11.5	23	57	5.5	-3.5
DFSI	Dimensional International Sustainability Core 1 ETF	11.4	24	56	6.3	-2.8
VEA	Vanguard FTSE Developed Markets ETF	11.4	3	77	7.0	-2.0
TLTD	FlexShares Morningstar Developed Markets ex-US Factor Tilt	11.4	39	41	7.8	-1.3
LVHI	Franklin International Low Volatility High Dividend Index ET	11.0	40	40	10.2	+1.1
JIRE	JPMorgan International Research Enhanced Equity ETF	10.8	24	56	7.0	-2.0
DTAN	Sparkline International Intangible Value ETF	10.8	55	25	8.5	-0.6
JPIN	J.P. Morgan Diversified Return International Equity ETF	10.4	37	43	8.3	-0.8
DBAW	Xtrackers MSCI All World ex US Hedged Equity ETF	10.3	41	39	7.1	-2.0
RFDI	First Trust Riverfront Dynamic Developed International ETF	9.9	83	-3	9.3	+0.3
PIZ	Invesco Dorsey Wright Developed Markets Momentum ETF	9.9	80	0	4.9	-4.1
ACWX	iShares MSCI ACWI ex U.S. ETF	9.8	34	46	7.4	-1.6
EWI	iShares MSCI Italy ETF	9.7	50	30	10.8	+1.7
CWI	SPDR MSCI ACWI ex-US ETF	9.7	30	50	7.4	-1.7
FGD	First Trust Dow Jones Global Select Dividend Index Fund	9.6	56	24	10.7	+1.7
GXUS	Goldman Sachs MarketBeta Total International Equity ETF	9.5	18	62	7.7	-1.3
PABD	iShares Paris-Aligned Climate MSCI World ex USA ETF	9.4	12	68	5.8	-3.2
FDEV	Fidelity International Multifactor ETF	9.3	18	62	7.4	-1.6
VEU	Vanguard FTSE All-World ex-US Index Fund	9.2	4	76	7.9	-1.2
DIHP	Dimensional International High Profitability ETF	9.2	29	51	7.0	-2.0
DFAX	Dimensional World ex U.S. Core Equity 2 ETF	9.2	30	50	7.7	-1.4
HDMV	First Trust Horizon Managed Volatility Developed Intl ETF	9.1	80	0	6.0	-3.0
EFAS	Global X MSCI SuperDividend EAFE ETF	9.1	57	23	8.4	-0.6
IXUS	iShares Core MSCI Total International Stock ETF	9.0	7	73	7.6	-1.4
RODM	Hartford Multifactor Developed Markets (ex-US) ETF	8.9	29	51	7.7	-1.3
IDOG	ALPS International Sector Dividend Dogs ETF	8.9	50	30	11.8	+2.8
BINV	Brandes International ETF	8.8	70	10	9.1	+0.1
VXUS	Vanguard Total International Stock ETF	8.8	5	75	7.7	-1.4
DISV	Dimensional International Small Cap Value ETF	8.8	42	38	8.8	-0.3
INEQ	Columbia International Equity Income ETF	8.6	45	35	8.0	-1.1
EFAV	iShares MSCI EAFE Min Vol Factor ETF	8.4	22	58	5.8	-3.3
DEEF	Xtrackers FTSE Developed ex US Multifactor ETF	8.2	24	56	7.5	-1.6
IQSI	IQ Candriam International Equity ETF	8.1	15	65	6.5	-2.5
IEUS	iShares MSCI Europe Small-Cap ETF	8.1	42	38	7.2	-1.9
DMXF	iShares ESG Advanced MSCI EAFE ETF	8.0	12	68	5.4	-3.7
IPAV	Global X Infrastructure Development ex-U.S. ETF	7.7	55	25	7.5	-1.5
EASG	Xtrackers MSCI EAFE ESG Leaders Equity ETF	7.7	14	66	6.0	-3.0
COPY	Tweedy, Browne Insider + Value ETF	7.7	80	0	11.7	+2.7
EFG	iShares MSCI EAFE Growth ETF	7.6	36	44	4.2	-4.8
HDEF	Xtrackers MSCI EAFE High Dividend Yield Equity ETF	7.5	9	71	9.1	+0.1
FYLD	Cambria Foreign Shareholder Yield ETF	7.5	59	21	11.6	+2.6
VSGX	Vanguard ESG International Stock ETF	7.4	10	70	7.5	-1.6
RCGE	RockCreek Global Equality ETF	7.3	95	-15	6.7	-2.4
DEW	WisdomTree Global High Dividend Fund	7.3	58	22	8.4	-0.7
PPIE	Putnam PanAgora ESG International Equity ETF	7.2	49	31	7.2	-1.8
BLES	Inspire Global Hope ETF	7.0	61	19	6.7	-2.3
DFIS	Dimensional International Small Cap ETF	7.0	39	41	7.2	-1.9
EWP	iShares MSCI Spain ETF	7.0	50	30	6.9	-2.1
WRND	IQ Global Equity R&D Leaders ETF	6.7	18	62	7.8	-1.2
DWX	SPDR S&P International Dividend ETF	6.7	45	35	6.1	-2.9
NUDM	Nuveen ESG International Developed Markets Equity ETF	6.7	31	49	6.1	-3.0
GCOW	Pacer Global Cash Cows Dividend ETF	6.7	60	20	10.9	+1.9
VIDI	Vident International Equity Strategy ETF	6.5	61	19	10.6	+1.5
FAN	First Trust Global Wind Energy ETF	6.5	60	20	4.3	-4.8
QLVD	FlexShares Developed Markets ex-US Quality Low Volatility In	6.5	32	48	6.1	-3.0
FPXE	First Trust IPOX Europe Equity Opportunities ETF	6.4	70	10	5.0	-4.1
FIDI	Fidelity International High Dividend ETF	6.4	18	62	8.6	-0.4
LEGR	First Trust Indxx Innovative Transaction & Process ETF	6.3	65	15	7.6	-1.4
DGT	SPDR Global Dow ETF	6.2	50	30	6.7	-2.3
ESGG	FlexShares STOXX Global ESG Select Index Fund	6.1	42	38	5.2	-3.8
EUDG	WisdomTree Europe Quality Dividend Growth Fund	6.0	58	22	6.9	-2.2
AZTD	Aztlan Global Stock Selection DM SMID ETF	5.9	75	5	7.7	-1.4
AIVI	WisdomTree International AI Enhanced Value Fund	5.8	58	22	7.1	-1.9
RODE	Hartford Multifactor Diversified International ETF	5.8	29	51	11.5	+2.4
IMFL	Invesco International Developed Dynamic Multifactor ETF	5.8	34	46	5.9	-3.1
FDD	First Trust Stoxx European Select Dividend Index Fund	5.7	58	22	11.4	+2.4
CGXU	Capital Group International Focus Equity ETF	5.6	54	26	5.3	-3.8
IDLV	Invesco S&P International Developed Low Volatility ETF	5.6	25	55	6.4	-2.6
IXG	iShares Global Financials ETF	5.5	42	38	6.7	-2.4
ISCF	iShares International SmallCap Equity Factor ETF	5.4	23	57	8.1	-1.0
GLOF	iShares Global Equity Factor ETF	5.4	20	60	6.3	-2.7
EXI	iShares Global Industrials ETF	5.2	42	38	4.4	-4.6
EWO	iShares MSCI Austria ETF	5.1	50	30	10.9	+1.8
QWLD	SPDR MSCI World StrategicFactors ETF	5.1	30	50	5.9	-3.2
CLNR	IQ Cleaner Transport ETF	5.1	45	35	6.7	-2.3
PBD	Invesco Global Clean Energy ETF	5.0	75	5	-0.4	-9.4
GLOV	Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF	4.9	25	55	5.9	-3.1
KOKU	Xtrackers MSCI Kokusai Equity ETF	4.8	9	71	5.1	-4.0
FOWF	Pacer Solactive Whitney Fututre of Warfare ETF	4.8	60	20	3.5	-5.5
EAFG	Pacer Developed Markets Cash Cows Growth Leaders ETF	4.7	65	15	4.1	-4.9
IQLT	iShares MSCI Intl Quality Factor ETF	4.7	30	50	6.1	-2.9
CGGO	Capital Group Global Growth Equity ETF	4.7	47	33	4.5	-4.6
TOK	iShares MSCI Kokusai ETF	4.6	26	54	4.9	-4.1
CGIE	Capital Group International Equity ETF	4.5	54	26	5.0	-4.0
IVAL	Alpha Architect International Quantitative Value ETF	4.4	49	31	9.7	+0.7
IQDF	FlexShares International Quality Dividend Index Fund	4.4	47	33	8.8	-0.3
URTH	iShares MSCI World ETF	4.4	24	56	4.9	-4.1
DSTX	Distillate International Fundamental Stability & Value ETF	4.4	55	25	7.5	-1.5
IPKW	Invesco International BuyBack Achievers ETF	4.3	55	25	12.6	+3.6
EUDV	ProShares MSCI Europe Dividend Growers ETF	4.3	55	25	6.2	-2.8
PATN	Pacer Nasdaq International Patent Leaders ETF	4.3	65	15	5.6	-3.4
EWN	iShares MSCI Netherlands ETF	4.3	50	30	5.1	-3.9
RAYD	Rayliant Quantitative Developed Market Equity ETF	4.3	80	0	4.4	-4.6
IQDY	FlexShares International Quality Dividend Dynamic Index Fund	4.3	47	33	8.1	-0.9
SCHY	Schwab International Dividend Equity ETF	4.2	14	66	9.7	+0.6
EFAD	ProShares MSCI EAFE Dividend Growers ETF	4.2	50	30	6.0	-3.0
FID	First Trust S&P International Dividend Aristocrats ETF	4.1	60	20	7.9	-1.2
ACWI	iShares MSCI ACWI ETF	3.9	32	48	5.4	-3.7
IHDG	WisdomTree International Hedged Quality Dividend Growth Fund	3.9	58	22	6.9	-2.1
WDIV	SPDR S&P Global Dividend ETF	3.8	40	40	9.2	+0.2
RWX	SPDR Dow Jones International Real Estate ETF	3.8	59	21	6.8	-2.2
SCZ	iShares MSCI EAFE Small-Cap ETF	3.8	40	40	6.8	-2.2
IXC	iShares Global Energy ETF	3.8	44	36	10.2	+1.2
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	3.8	9	71	5.5	-3.5
JSTC	Adasina Social Justice All Cap Global ETF	3.8	89	-9	4.8	-4.2
WBAT	WisdomTree Battery Value Chain and Innovation Fund	3.8	45	35	4.0	-5.0
IQDG	WisdomTree International Quality Dividend Growth Fund	3.8	42	38	7.2	-1.8
OCEN	IQ Clean Oceans ETF	3.7	45	35	6.1	-3.0
KLMT	Invesco MSCI Global Climate 500 ETF	3.7	10	70	5.6	-3.5
JIG	JPMorgan International Growth ETF	3.6	55	25	4.6	-4.4
FNDC	Schwab Fundamental International Small Co. Index ETF	3.6	39	41	5.7	-3.3
FILL	iShares MSCI Global Energy Producers ETF	3.6	39	41	11.6	+2.6
IOO	iShares Global 100 ETF	3.6	41	39	4.6	-4.5
VCLN	Virtus Duff & Phelps Clean Energy ETF	3.6	59	21	4.2	-4.8
VT	Vanguard Total World Stock ETF	3.6	6	74	5.7	-3.3
XT	iShares Exponential Technologies ETF	3.5	46	34	4.6	-4.5
UMMA	Wahed Dow Jones Islamic World ETF	3.5	65	15	5.1	-4.0
JXI	iShares Global Utilities ETF	3.4	43	37	5.5	-3.6
MOTO	SmartETFs Smart Transportation & Technology ETF	3.4	68	12	6.9	-2.1
RNWZ	TrueShares Eagle Global Renewable Energy Income ETF	3.4	75	5	7.1	-1.9
FRNW	Fidelity Clean Energy ETF	3.4	39	41	2.8	-6.3
CRBN	iShares MSCI ACWI Low Carbon Target ETF	3.4	20	60	5.5	-3.6
IFGL	iShares International Developed Real Estate ETF	3.2	48	32	6.9	-2.1
TTAI	FCF International Quality ETF	3.2	59	21	7.4	-1.6
GNR	SPDR S&P Global Natural Resources ETF	3.2	40	40	10.8	+1.8
NFRA	FlexShares STOXX Global Broad Infrastructure Index Fund	3.2	47	33	5.8	-3.3
OAIM	OneAscent International Equity ETF	3.2	95	-15	5.6	-3.5
HAUZ	DBX ETF Trust - Xtrackers International Real Estate ETF	3.1	10	70	8.0	-1.1
TEMP	JPMorgan Climate Change Solutions ETF	3.1	49	31	5.8	-3.3
GVAL	Cambria Global Value ETF	3.1	68	12	10.2	+1.2
SCHC	Schwab International Small-Cap Equity ETF	3.1	11	69	6.5	-2.6
GRID	First Trust Nasdaq Clean Edge Smart GRID Infrastructure	3.1	58	22	4.4	-4.7
NATO	Themes Transatlantic Defense ETF	3.0	35	45	2.3	-6.7
EWK	iShares MSCI Belgium ETF	2.9	50	30	4.3	-4.7
FPXI	First Trust International Equity Opportunities ETF	2.9	70	10	4.2	-4.8
JGLO	JPMorgan Global Select Equity ETF	2.9	33	47	4.9	-4.1
IGRO	iShares International Dividend Growth ETF	2.9	15	65	7.2	-1.9
MOTI	VanEck Morningstar International Moat ETF	2.9	58	22	11.5	+2.5
GINN	Goldman Sachs Innovate Equity ETF	2.8	52	28	3.5	-5.6
PDN	Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF	2.8	49	31	6.8	-2.3
IXJ	iShares Global Healthcare ETF	2.8	42	38	7.0	-2.0
RXI	iShares Global Consumer Discretionary ETF	2.7	41	39	9.1	+0.1
ERTH	Invesco MSCI Sustainable Future ETF	2.7	62	18	3.5	-5.5
VNQI	Vanguard Global ex-U.S. Real Estate ETF	2.7	12	68	8.0	-1.1
WLDR	Affinity World Leaders Equity ETF	2.7	67	13	7.4	-1.7
AVDV	Avantis International Small Cap Value ETF	2.6	36	44	9.1	+0.1
GUNR	FlexShares Morningstar Global Upstream Natural Resources Ind	2.6	46	34	9.7	+0.7
CGDG	Capital Group Dividend Growers ETF	2.6	47	33	6.2	-2.9
SHLD	Global X Defense Tech ETF	2.5	50	30	3.0	-6.0
CCNR	ALPS CoreCommodity Natural Resources ETF	2.5	39	41	10.0	+1.0
PICK	iShares MSCI Global Metals & Mining Producers ETF	2.5	39	41	11.4	+2.4
GREK	Global X MSCI Greece ETF	2.5	57	23	11.2	+2.1
SMOG	VanEck Low Carbon Energy ETF	2.5	61	19	1.6	-7.5
NXTG	First Trust Indxx NextG ETF	2.4	70	10	4.9	-4.1
MOTG	VanEck Morningstar Global Wide Moat ETF	2.4	52	28	7.6	-1.4
KOCG	FIS Knights of Columbus Global Belief ETF	2.3	75	5	5.3	-3.7
IDHQ	Invesco S&P International Developed High Quality ETF	2.3	29	51	6.5	-2.6
FEOE	First Eagle Overseas Equity ETF	2.3	79	1	7.6	-1.4
VIGI	Vanguard International Dividend Appreciation ETF	2.2	10	70	6.3	-2.7
ICLN	iShares Global Clean Energy ETF	2.2	41	39	4.5	-4.5
ETEC	iShares Breakthrough Environmental Solutions ETF	2.1	47	33	3.1	-5.9
BKCI	BNY Mellon Concentrated International ETF	2.1	80	0	5.1	-3.9
IQRA	IQ CBRE Real Assets ETF	2.1	65	15	5.6	-3.4
RWO	SPDR Dow Jones Global Real Estate ETF	2.0	50	30	6.9	-2.2
VGSR	Vert Global Sustainable Real Estate ETF	2.0	47	33	7.3	-1.7
AVDS	Avantis International Small Cap Equity ETF	2.0	30	50	7.1	-1.9
VSS	Vanguard FTSE All-World ex-US Small-Cap ETF	1.9	8	72	6.1	-3.0
DNL	WisdomTree Global ex-US Quality Dividend Growth Fund	1.9	42	38	7.0	-2.0
GII	SPDR S&P Global Infrastructure ETF	1.9	40	40	4.6	-4.4
IGF	iShares Global Infrastructure ETF	1.9	41	39	4.6	-4.4
AGNG	Global X Aging Population ETF	1.9	50	30	4.9	-4.2
IDRV	iShares Self-driving EV & Tech ETF	1.9	47	33	1.7	-7.4
AIRL	Themes Airlines ETF	1.8	35	45	1.8	-7.3
FPAG	FPA Global Equity ETF	1.8	49	31	5.7	-3.3
IBUY	Amplify Online Retail ETF	1.8	65	15	0.9	-8.2
GSIB	Themes Global Systemically Important Banks ETF	1.8	35	45	9.1	+0.1
FDRR	Fidelity Dividend ETF for Rising Rates	1.7	15	65	6.8	-2.2
KNO	AXS Knowledge Leaders ETF	1.7	78	2	5.9	-3.1
ERET	iShares Environmentally Aware Real Estate ETF	1.7	30	50	7.2	-1.8
NZAC	SPDR MSCI ACWI Climate Paris Aligned ETF	1.7	12	68	5.0	-4.1
BLLD	JPMorgan Sustainable Infrastructure ETF	1.7	49	31	6.2	-2.8
IPOS	Renaissance International IPO ETF	1.6	80	0	2.2	-6.8
AVRE	Avantis Real Estate ETF	1.6	17	63	7.1	-1.9
KXI	iShares Global Consumer Staples ETF	1.6	41	39	5.6	-3.5
CZAR	Themes Natural Monopoly ETF	1.6	35	45	5.7	-3.4
SDG	iShares MSCI Global Sustainable Development Goals ETF	1.6	49	31	5.7	-3.4
CRAK	VanEck Oil Refiners ETF	1.6	61	19	12.5	+3.5
ROBO	ROBO Global Robotics & Automation Index ETF	1.5	95	-15	3.2	-5.9
JEMA	JPMorgan ActiveBuilders Emerging Markets Equity ETF	1.5	33	47	9.4	+0.4
ACWV	iShares MSCI Global Min Vol Factor ETF	1.5	20	60	6.2	-2.9
MXI	iShares Global Materials ETF	1.5	41	39	7.5	-1.6
HART	IQ Healthy Hearts ETF	1.5	45	35	6.8	-2.3
JPEM	JPMorgan Diversified Return Emerging Markets Equity ETF	1.5	44	36	10.4	+1.4
FEGE	First Eagle Global Equity ETF	1.5	79	1	6.7	-2.3
JETS	U.S. Global Jets ETF	1.4	60	20	2.8	-6.2
EYLD	Cambria Emerging Shareholder Yield ETF	1.3	66	14	12.2	+3.1
EFNL	iShares MSCI Finland ETF	1.3	56	24	6.6	-2.5
GQRE	FlexShares Global Quality Real Estate Index Fund	1.3	45	35	7.8	-1.2
IXP	iShares Global Comm Services ETF	1.3	42	38	5.5	-3.6
DFGR	Dimensional Global Real Estate ETF	1.3	22	58	7.4	-1.6
REET	iShares Global REIT ETF	1.3	14	66	7.4	-1.7
IDNA	iShares Genomics Immunology and Healthcare ETF	1.2	47	33	-2.0	-11.0
CTEC	Global X CleanTech ETF	1.2	50	30	-0.2	-9.2
CARZ	First Trust NASDAQ Global Auto Index Fund	1.2	70	10	4.2	-4.8
NETZ	TCW Transform Systems ETF	1.2	75	5	2.3	-6.7
COPX	Global X Copper Miners ETF	1.1	65	15	6.1	-3.0
COPA	Themes Copper Miners ETF	1.1	35	45	4.9	-4.1
DFE	WisdomTree Europe SmallCap Dividend Fund	1.1	58	22	8.1	-0.9
FICS	First Trust International Developed Capital Strength ETF	1.1	70	10	7.3	-1.7
TINT	ProShares Smart Materials ETF	1.1	58	22	6.9	-2.1
TOLZ	ProShares DJ Brookfield Global Infrastructure ETF	1.1	46	34	5.6	-3.4
PRNT	3D Printing ETF	1.1	66	14	1.2	-7.9
DRIV	Global X Autonomous & Electric Vehicles ETF	1.1	68	12	4.4	-4.7
EELV	Invesco S&P Emerging Markets Low Volatility ETF	1.0	29	51	9.2	+0.2
GEM	Goldman Sachs ActiveBeta Emerging Markets Equity ETF	1.0	45	35	9.8	+0.7
BMED	Future Health ETF	1.0	85	-5	0.4	-8.7
FMED	Fidelity Disruptive Medicine ETF	1.0	50	30	-1.1	-10.1
CGV	Conductor Global Equity Value ETF	1.0	130	-50	8.3	-0.7
GMET	VanEck Green Metals ETF	0.9	63	17	7.5	-1.6
KARS	KraneShares Electric Vehicles & Future Mobility Index ETF	0.9	72	8	-0.9	-9.9
TMFG	Motley Fool Global Opportunities ETF	0.9	85	-5	4.0	-5.1
KNCT	Invesco Next Gen Connectivity ETF	0.9	40	40	4.4	-4.7
SAGP	Strategas Global Policy Opportunities ETF	0.9	65	15	5.4	-3.6
FTAG	First Trust Indxx Global Agriculture ETF	0.9	70	10	8.6	-0.5
AGQI	First Trust Active Global Quality Income ETF	0.9	85	-5	4.8	-4.2
BLDG	Cambria Global Real Estate ETF	0.9	60	20	11.9	+2.8
TRFK	Pacer Data and Digital Revolution ETF	0.9	60	20	2.7	-6.4
EEMO	Invesco S&P Emerging Markets Momentum ETF	0.9	29	51	6.5	-2.6
FINX	Global X FinTech ETF	0.8	68	12	2.1	-6.9
IPAY	ETFMG Prime Mobile Payments ETFMG Prime Mobile Payments Fund	0.8	75	5	4.7	-4.3
FDIG	Fidelity Crypto Industry and Digital Payments ETF	0.8	39	41	-1.2	-10.2
BPAY	BlackRock Future Financial and Technology ETF	0.8	70	10	7.9	-1.2
ISHP	First Trust Nasdaq Retail ETF	0.8	60	20	5.5	-3.6
SOCL	Global X Social Media ETF	0.7	65	15	9.1	+0.1
RFEM	First Trust Riverfront Dynamic Emerging Markets ETF	0.7	95	-15	11.3	+2.3
FTHF	First Trust Emerging Markets Human Flourishing ETF	0.7	75	5	7.6	-1.5
RNRG	Global X Renewable Energy Producers ETF	0.7	66	14	1.2	-7.8
GINX	SGI Enhanced Global Income ETF	0.7	98	-18	7.0	-2.0
SNSR	Global X Internet of Things ETF	0.7	68	12	4.5	-4.6
SOLR	Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund	0.7	79	1	4.6	-4.5
AIS	VistaShares Artificial Intelligence Supercycle ETF	0.7	75	5	2.3	-6.7
UFO	Procure Space ETF	0.7	75	5	0.1	-8.9
FINE	Themes European Luxury ETF	0.7	35	45	3.7	-5.4
IBOT	Vaneck Robotics ETF	0.7	47	33	4.0	-5.0
RGEF	Rockefeller Global Equity ETF	0.7	55	25	4.6	-4.4
EDIV	SPDR S&P Emerging Markets Dividend ETF	0.7	49	31	11.9	+2.9
BUYZ	Franklin Disruptive Commerce ETF	0.7	50	30	2.3	-6.7
DFNL	Davis Select Financial ETF	0.7	63	17	7.6	-1.4
DINT	Davis Select International ETF	0.7	55	25	7.8	-1.2
DWLD	Davis Select Worldwide ETF	0.7	63	17	7.1	-2.0
FDNI	First Trust Dow Jones International Internet ETF	0.7	65	15	20.5	+11.5
CLOD	Themes Cloud Computing ETF	0.7	35	45	3.1	-5.9
LST	Leuthold Select Industries ETF	0.7	91	-11	4.9	-4.1
SHPP	Pacer Industrials and Logistics ETF	0.6	60	20	8.6	-0.4
EMCR	Xtrackers Emerging Markets Carbon Reduction and Climate Impr	0.6	15	65	7.4	-1.6
EMXF	iShares ESG Advanced MSCI EM ETF	0.6	16	64	8.1	-1.0
IXN	iShares Global Tech ETF	0.6	41	39	3.3	-5.7
QQJG	Invesco ESG NASDAQ Next Gen 100 ETF	0.6	20	60	4.5	-4.5
EEMV	iShares MSCI Emerging Markets Min Vol Factor ETF	0.6	25	55	6.4	-2.6
QEMM	SPDR MSCI Emerging Markets StrategicFactors ETF	0.5	30	50	8.8	-0.2
LDEM	iShares ESG MSCI EM Leaders ETF	0.5	17	63	13.3	+4.3
QQQJ	Invesco NASDAQ Next Gen 100 ETF	0.5	15	65	4.6	-4.4
APIE	ActivePassive International Equity ETF	0.5	45	35	7.2	-1.8
CGGR	Capital Group Growth ETF	0.5	39	41	3.1	-6.0
IVES	Wedbush ETFMG Global Cloud Technology ETF	0.5	68	12	6.3	-2.8
LOUP	Innovator Deepwater Frontier Tech ETF	0.5	70	10	1.0	-8.0
TINY	ProShares Nanotechnology ETF	0.5	58	22	4.3	-4.8
OSEA	Harbor International Compounders ETF	0.5	55	25	4.7	-4.3
FDTX	Fidelity Disruptive Technology ETF	0.5	50	30	2.6	-6.5
AIVC	Amplify Bloomberg AI Value Chain ETF	0.5	59	21	4.7	-4.3
GSFP	Goldman Sachs Future Planet Equity ETF	0.5	75	5	4.9	-4.1
DBEM	Xtrackers MSCI Emerging Markets Hedged Equity ETF	0.5	66	14	8.9	-0.2
QTUM	Defiance Quantum ETF	0.5	40	40	4.8	-4.2
GLBL	Pacer MSCI World Industry Advantage ETF	0.5	65	15	4.0	-5.0
HAP	VanEck Natural Resources ETF	0.5	50	30	9.1	+0.1
DLS	WisdomTree International SmallCap Dividend Fund	0.4	58	22	8.1	-0.9
AVXC	Avantis Emerging Markets Ex-China Equity ETF	0.4	33	47	8.2	-0.8
ARKX	ARK Space Exploration & Innovation ETF	0.4	75	5	-0.4	-9.4
ECOW	Pacer Emerging Markets Cash Cows 100 ETF	0.4	70	10	12.8	+3.7
EIRL	iShares MSCI Ireland ETF	0.4	50	30	8.5	-0.5
BKEM	BNY Mellon Emerging Markets Equity ETF	0.4	11	69	9.5	+0.5
AVEM	Avantis Emerging Markets Equity ETF	0.4	33	47	8.2	-0.8
EMXC	iShares MSCI Emerging Markets ex China ETF	0.4	25	55	7.1	-1.9
GSEE	Goldman Sachs MarketBeta Emerging Markets Equity ETF	0.4	36	44	9.2	+0.2
FFLC	Fidelity Fundamental Large Cap Core ETF	0.4	38	42	4.5	-4.6
XCNY	SPDR S&P Emerging Markets ex-China ETF	0.4	15	65	7.4	-1.6
EMGF	iShares Emerging Markets Equity Factor ETF	0.4	25	55	11.1	+2.0
AVES	Avantis Emerging Markets Value ETF	0.4	36	44	10.8	+1.7
FDVV	Fidelity High Dividend ETF	0.4	15	65	7.5	-1.5
MFEM	PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF	0.4	50	30	10.6	+1.6
DFEV	Dimensional Emerging Markets Value ETF	0.3	43	37	12.7	+3.6
AVSE	Avantis Responsible Emerging Markets Equity ETF	0.3	33	47	8.1	-1.0
TLTE	FlexShares Morningstar Emerging Markets Factor Tilt Index	0.3	59	21	8.5	-0.5
SPEM	SPDR Portfolio Emerging Markets ETF	0.3	7	73	10.1	+1.1
BBEM	JPMorgan BetaBuilders Emerging Markets Equity ETF	0.3	15	65	9.7	+0.7
SCHE	Schwab Emerging Markets Equity ETF	0.3	11	69	10.5	+1.5
EEM	iShares MSCI Emerging Markets ETF	0.3	69	11	9.6	+0.6
EEMX	SPDR MSCI Emerging Markets Fossil Fuel Free ETF	0.3	30	50	9.7	+0.7
EVLU	iShares MSCI Emerging Markets Value Factor ETF	0.3	35	45	16.6	+7.6
IBAT	iShares Energy Storage & Materials ETF	0.3	47	33	3.0	-6.0
VWO	Vanguard FTSE Emerging Markets ETF	0.3	7	73	9.8	+0.8
HELX	Franklin Genomic Advancements ETF	0.3	50	30	-0.3	-9.3
IEMG	iShares Core MSCI Emerging Markets ETF	0.2	9	71	9.9	+0.9
XCEM	Columbia EM Core ex-China ETF	0.2	16	64	7.7	-1.3
DIVS	SmartETFs Dividend Builder ETF	0.2	65	15	5.0	-4.0
DEXC	Dimensional Emerging Markets ex China Core EquityETF	0.2	53	27	7.5	-1.6
DTRE	First Trust Alerian Disruptive Technology Real Estate ETF	0.2	60	20	5.9	-3.2
INDS	Pacer Industrial Real Estate ETF	0.2	55	25	6.4	-2.6
HTEC	ROBO Global Healthcare Technology and Innovation ETF	0.2	68	12	2.2	-6.9
TOLL	Tema Durable Quality ETF	0.2	75	5	5.1	-3.9
DEHP	Dimensional Emerging Markets High Profitability ETF	0.2	41	39	6.4	-2.7
DFAE	Dimensional Emerging Core Equity Market ETF	0.2	35	45	8.9	-0.2
ESGE	iShares ESG Aware MSCI EM ETF	0.2	25	55	9.6	+0.5
CUT	Invesco MSCI Global Timber ETF	0.2	61	19	11.0	+1.9
WOOD	iShares Global Timber & Forestry ETF	0.2	42	38	12.7	+3.6
CIBR	First Trust NASDAQ Cybersecurity ETF	0.2	60	20	4.0	-5.1
FDEM	Fidelity Emerging Markets Multifactor ETF	0.2	25	55	12.4	+3.3
BULD	Pacer BlueStar Engineering the Future ETF	0.2	60	20	0.3	-8.7
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	0.2	38	42	8.8	-0.2
NUEM	Nuveen ESG Emerging Markets Equity ETF	0.2	36	44	7.4	-1.6
CRTC	Xtrackers US National Critical Technologies ETF	0.2	35	45	4.6	-4.4
DFSE	Dimensional Emerging Markets Sustainability Core 1 ETF	0.1	41	39	8.4	-0.7
SUPL	ProShares Supply Chain Logistics ETF	0.1	58	22	12.2	+3.2
KEMX	KraneShares MSCI Emerging Markets EX China Index ETF	0.1	24	56	7.5	-1.6
QLVE	FlexShares Emerging Markets Quality Low Volatility Index Fun	0.1	40	40	6.8	-2.3
RVRB	Reverb ETF	0.1	30	50	4.4	-4.6
ONEQ	Fidelity Nasdaq Composite Index ETF	0.0	21	59	3.6	-5.5
ARTY	iShares Future AI & Tech ETF	0.0	47	33	3.2	-5.9

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

	2020	2021	2022	2023	2024	2025E	2026E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

Content on this tab for subscribers only

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 Eurozone AlphaDEX ETF
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	12.4	%
Divided by: Fwd. P/BV	1.3	x
Less: Expense ratio	80	bp
Equals: ALTAR Score	9.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.62	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.