First Trust Japan AlphaDEX
ALTAR
Score™
8.9% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.7x P/Sales
ratio
0.5x
P/BV
ratio
1.1x Div.
yield
2.7%


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

FUND BASICS
Category International Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Apr 19, 2011
Assets (mns) $76
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 100
Wgt avg mkt cap (mns) $13,340
Large cap (>$10bn) 41.5%
Mid cap ($2-10bn) 57.9%
Small cap (<$2bn) 0.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ADVANTEST CORP 2.9 %
SUMCO CORP 2.1 %
HITACHI HIGH-TECHNOLOGIES CO 1.9 %
YAMAHA MOTOR CO LTD 1.9 %
ITOCHU CORP 1.8 %
TAIYO NIPPON SANSO CORP 1.8 %
TOSOH CORP 1.7 %
AMADA CO LTD 1.6 %
NEC CORP 1.6 %
MITSUI CHEMICALS INC 1.6 %
Total 18.9 %

TOP COUNTRY EXPOSURE
JAPAN 96.9 %










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.
5.0% -0.7% 2.6% -- 3.4%

Market Correlations
versus... Beta R-squared
S&P500 0.79 56%
MSCI EAFE 0.97 73%
MSCI Emg. Mkts. 0.74 69%

Technical Indicators
Recent close $50.70
30d moving avg. $49.94
Annualized volatility 12.7%
Short interest (ETF) 0.2%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 19
Turnover 1.3%
Bid/Ask (% of price) 0.46%
ADV underlying (mns) $5,901

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FJP Expense: 80 bp ALTAR Score™: 8.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FJP
Ticker Fund
Name
Overlap1
vs FJP
(%)
Expense
ratio
(bp)
Savings
vs FJP
(bp)
ALTAR
Score™
(%)
ALTAR
vs FJP
(%)
GSJY Goldman Sachs ActiveBeta Japan Equity 27.9 25 55 7.8 -1.1
EWJE iShares MSCI Japan Equal Weighted 27.0 15 65 7.3 -1.6
JPXN iShares JPX-Nikkei 400 26.4 48 32 7.7 -1.2
JPN Xtrackers Japan JPX-Nikkei 400 Equity 26.4 9 71 8.1 -0.8
QJPN SPDR MSCI Japan Quality Mix 26.4 14 66 8.1 -0.8
EWJ iShares MSCI Japan 26.2 47 33 7.7 -1.2
BBJP JPMorgan BetaBuilders Japan 25.7 19 61 7.9 -1.0
SCIJ Global X Scientific Beta Japan 25.7 39 41 7.0 -1.9
DBJP Xtrackers MSCI Japan Hedged 25.6 45 35 7.7 -1.3
HFXJ IQ 50 Percent Hedged FTSE Japan 25.4 30 50 7.8 -1.1
EWJV iShares MSCI Japan Value 25.3 15 65 10.1 +1.2
FLJP Franklin FTSE Japan 25.2 9 71 8.1 -0.8
FLJH Franklin FTSE Japan Hedged 25.1 9 71 8.0 -0.9
DXJ WisdomTree Japan Hedged Equity 24.6 48 32 8.7 -0.2
RFAP First Trust Riverfront Dynamic Asia Pacific 21.4 83 -3 7.3 -1.6
FDT First Trust Developed Markets ex-US AlphaDEX 19.5 80 0 8.2 -0.7
IPAC iShares Core MSCI Pacific 17.7 9 71 7.5 -1.4
JPMV iShares MSCI Japan Min Volatility 16.8 30 50 6.7 -2.2
IVLU iShares MSCI Int'l Developed Value Factor 16.5 30 50 10.4 +1.5
VPL Vanguard Pacific ETF 15.2 9 71 7.8 -1.1

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

  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 Japan AlphaDEX
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 10.4 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 8.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.