First Trust Large Cap Core Alphadex
ALTAR
Score™
6.4% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
16.0x P/Sales
ratio
1.5x
P/BV
ratio
2.3x Div.
yield
1.9%


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

FUND BASICS
Category US Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date May 10, 2007
Assets (mns) $1,351
Currency USD
Expense ratio 61 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 376
Wgt avg mkt cap (mns) $54,211
Large cap (>$10bn) 95.0%
Mid cap ($2-10bn) 5.1%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SKYWORKS SOLUTIONS INC 0.5 %
BIOGEN IDEC INC 0.5 %
UNITED RENTALS INC 0.5 %
REGENERON PHARMACEUTICALS 0.5 %
VALERO ENERGY CORP 0.5 %
PHILLIPS 66 0.5 %
DISCOVERY COMMUNICATIONS-A 0.5 %
CUMMINS INC 0.5 %
PACCAR INC 0.5 %
EASTMAN CHEMICAL COMPANY 0.5 %
Total 5.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
IRELAND 1.8 %
BRITAIN 0.8 %
BERMUDA 0.7 %
SWITZERLAND 0.7 %
CHINA 0.1 %





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.
19.3% 9.4% 8.1% 12.8% 7.2%

Market Correlations
versus... Beta R-squared
S&P500 1.11 96%
MSCI EAFE 0.96 61%
MSCI Emg. Mkts. 0.65 46%

Technical Indicators
Recent close $62.97
30d moving avg. $61.07
Annualized volatility 13.6%
Short interest (ETF) 0.2%
Short interest (Underlying) 4.4%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 68
Turnover 0.3%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $100,116

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FEX Expense: 61 bp ALTAR Score™: 6.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FEX
Ticker Fund
Name
Overlap1
vs FEX
(%)
Expense
ratio
(bp)
Savings
vs FEX
(bp)
ALTAR
Score™
(%)
ALTAR
vs FEX
(%)
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 60.8 9 52 6.5 +0.1
FTA First Trust Large Cap Value 58.5 62 -1 8.7 +2.2
RNLC Large Cap US Equity Select 56.5 60 1 6.4 -0.0
RSP Invesco S&P 500 Equal Weight 55.7 20 41 6.9 +0.4
SIZE iShares MSCI USA Size Factor 52.9 15 46 6.4 -0.1
TUSA First Trust Total US Market AlphaDEX 52.6 70 -9 6.7 +0.3
EUSA iShares MSCI USA Equal Weight 52.1 15 46 6.6 +0.1
CFO Victory CEMP US 500 Enhanced Volatility Wtd 50.8 35 26 6.1 -0.3
CFA Compass EMP US 500 Volatility Weighted 50.8 35 26 6.1 -0.3
JHML John Hancock Multifactor Large Cap 49.8 34 27 6.0 -0.5
SCIU Global X Scientific Beta US 49.6 19 42 5.8 -0.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core 49.6 17 44 7.0 +0.6
FAB First Trust Multi Cap Value 49.6 71 -10 8.5 +2.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity 48.1 9 52 6.4 +0.0
DEUS Xtrackers Russell 1000 Comprehensive Factor 44.1 17 44 6.4 -0.0
JPUS JPMorgan Diversified Return U.S. Equity 43.5 19 42 6.3 -0.1
ONEO SPDR Russell 1000 Momentum Focus 43.4 20 41 6.5 +0.1
FCTR First Trust Lunt U.S. Factor Rotation 42.9 65 -4 3.5 -2.9
DYNF BlackRock U.S. Equity Factor Rotation 42.7 30 31 6.6 +0.2
RBUS Nationwide Risk-Based U.S. Equity 42.7 30 31 6.2 -0.3

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

Content on this tab for subscribers only

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 Large Cap Core 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 14.9 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 61 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 CATEGORY
AVERAGE
1.55
 
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.