First Trust Germany
ALTAR
Score™
8.5% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
15.3x P/Sales
ratio
0.7x
P/BV
ratio
1.3x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Germany AlphaDEX Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the Defined Germany Index.

FUND BASICS
Category International Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Feb 15, 2012
Assets (mns) $145
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 40
Wgt avg mkt cap (mns) $15,885
Large cap (>$10bn) 40.7%
Mid cap ($2-10bn) 55.6%
Small cap (<$2bn) 3.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
RWE AG 4.6 %
BECHTLE AG 4.4 %
TALANX AG 4.2 %
PORSCHE AUTOMOBIL HLDG-PFD 4.2 %
DELIVERY HERO SE 4.1 %
SCHAEFFLER AG 4.1 %
BASF SE 3.9 %
EVONIK INDUSTRIES AG 3.8 %
TAG IMMOBILIEN AG 3.5 %
HANNOVER RUECKVERSICHERU-REG 3.4 %
Total 40.1 %

TOP COUNTRY EXPOSURE
GERMANY 95.4 %
LUXEMBOURG 4.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
20.7% 20.7% 6.2% -- 6.8%

Market Correlations
versus... Beta R-squared
S&P500 0.98 58%
MSCI EAFE 1.28 82%
MSCI Emg. Mkts. 0.89 68%

Technical Indicators
Recent close $44.49
30d moving avg. $44.20
Annualized volatility 15.6%
Short interest (ETF) 0.2%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.1%
Bid/Ask (% of price) 0.61%
ADV underlying (mns) $1,465

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FGM Expense: 80 bp ALTAR Score™: 8.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FGM
Ticker Fund
Name
Overlap1
vs FGM
(%)
Expense
ratio
(bp)
Savings
vs FGM
(bp)
ALTAR
Score™
(%)
ALTAR
vs FGM
(%)
FLGR Franklin FTSE Germany 29.9 9 71 7.8 -0.8
EWG iShares MSCI Germany 28.5 47 33 7.5 -1.0
DXGE WisdomTree Germany Hedged Equity 28.3 48 32 9.1 +0.6
DBGR Xtrackers MSCI Germany Hedged 28.0 45 35 7.5 -1.0
FEUZ First Trust Eurozone AlphaDex 26.5 80 0 7.1 -1.5
QDEU SPDR MSCI Germany Quality Mix 25.3 14 66 8.1 -0.5
DAX Global X DAX Germany 20.4 20 60 8.6 +0.0
EWGS iShares MSCI Germany Small Cap 17.7 59 21 5.8 -2.8
FEP First Trust Europe AlphaDEX 17.3 80 0 7.1 -1.4
EURZ Xtrackers Eurozone Equity 10.7 9 71 6.8 -1.7
CARZ First Trust NASDAQ Global Auto 10.4 70 10 14.0 +5.4
HEDJ Wisdomtree International Hedged Equity 10.2 58 22 7.6 -1.0
EZU iShares MSCI Euro Monetary Union 10.0 47 33 6.5 -2.0
SMEZ SPDR Euro Stoxx Small Cap 9.7 46 34 5.4 -3.1
DBEZ Xtrackers MSCI EMU Hedged 9.5 45 35 6.3 -2.3
FEZ SPDR DJ Euro Stoxx 50 9.3 29 51 6.8 -1.8
IFEU iShares FTSE EPRA/NAREIT Europe 8.8 48 32 5.6 -3.0
FTAG First Trust Indxx Global Agriculture 8.3 70 10 8.3 -0.3
FDT First Trust Developed Markets ex-US AlphaDEX 8.3 80 0 7.8 -0.7
KARS KraneShares Electric Vehicles & Future Mobility Index 7.8 70 10 5.9 -2.6

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 Germany
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 11.1 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.67 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.