First Trust US IPO Index Fund
ALTAR
Score™
1.4% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
111.6x P/Sales
ratio
3.7x
P/BV
ratio
5.8x Div.
yield
0.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust US IPO Index Fund seeks investment results that correspond generally to the price and yield of an equity index called the U.S. IPOX-100 Index.

FUND BASICS
Category US Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Apr 12, 2006
Assets (mns) $1,605
Currency USD
Expense ratio 58 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 100
Wgt avg mkt cap (mns) $57,240
Large cap (>$10bn) 74.4%
Mid cap ($2-10bn) 19.5%
Small cap (<$2bn) 0.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SNAP, INC. CLASS A 5.6 %
THERMO FISHER SCIENTIFIC INC 5.5 %
MARVELL TECHNOLOGY GROUP LTD 5.0 %
UBER TECHNOLOGIES, INC. 4.7 %
ZOOM VIDEO COMMUNICATIONS, INC. CL 4.5 %
FIDELITY NATIONAL INFORMATIO 4.5 %
ELI LILLY & CO 3.5 %
DOCUSIGN, INC. 2.8 %
PAYPAL HOLDINGS INC 2.8 %
DOW, INC. 2.7 %
Total 41.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.0 %
BERMUDA 5.0 %
LUXEMBOURG 2.5 %








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.
20.7% 28.2% 15.5% 17.3% 12.4%

Market Correlations
versus... Beta R-squared
S&P500 1.11 85%
MSCI EAFE 1.12 71%
MSCI Emg. Mkts. 0.81 59%

Technical Indicators
Recent close $102.57
30d moving avg. $97.65
Annualized volatility 21.4%
Short interest (ETF) 0.1%
Short interest (Underlying) 3.3%
Relative strength (RSI) 68

Liquidity measures
Avg. volume (thou.) 83
Turnover 0.5%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $70,951

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the First Trust US IPO Index Fund ETF based on the alternatives' overlap in portfolio holdings with FPX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FPX Expense: 58 bp ALTAR Score™: 1.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FPX
Ticker Fund
Name
Overlap1
vs FPX
(%)
Expense
ratio
(bp)
Savings
vs FPX
(bp)
ALTAR
Score™
(%)
ALTAR
vs FPX
(%)
IPO Renaissance IPO ETF 25.2 60 -2 0.6 -0.8
FTC First Trust Large Cap Growth AlphaDEX Fund 19.2 61 -3 2.7 +1.3
XITK SPDR FactSet Innovative Technology ETF 18.6 45 13 0.2 -1.1
OGIG O'Shares Global Internet Giants ETF 18.5 48 10 0.5 -0.9
SLT Salt TruBeta High Exposure ETF 18.2 60 -2 3.2 +1.9
BUYZ Franklin Disruptive Commerce ETF 18.1 50 8 -0.2 -1.6
FXL First Trust Technology AlphaDEX Fund 17.7 61 -3 3.2 +1.8
FCTR First Trust Lunt U.S. Factor Rotation ETF 17.5 65 -7 2.9 +1.5
ARKW ARK Web x.0 ETF 17.2 76 -18 -0.8 -2.2
PNQI Invesco NASDAQ Internet ETF 16.3 60 -2 0.9 -0.4
JKH iShares Morningstar Mid-Cap Growth ETF 15.8 30 28 2.0 +0.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 15.7 66 -8 2.2 +0.9
VXF Vanguard Extended Market Index Fund 15.5 6 52 3.4 +2.1
FDN First Trust Dow Jones Internet Index Fund 15.3 52 6 2.0 +0.7
IWP iShares Russell Mid-Cap Growth ETF 15.1 24 34 2.9 +1.5
IGV iShares Expanded Tech-Software ETF 14.9 46 12 2.2 +0.8
MXDU Nationwide Maximum Diversification US Core Equity ETF 14.2 34 24 4.5 +3.2
QQQN VictoryShares Nasdaq Next 50 ETF 13.7 18 40 3.0 +1.6
GIGE SoFi Gig Economy ETF 13.6 59 -1 -0.8 -2.2
JMOM JPMorgan U.S. Momentum Factor ETF 13.5 12 46 3.3 +1.9
ENTR Entrepreneur 30 Fund 13.2 49 9 1.2 -0.2
BTEK BlackRock Future Tech ETF 12.9 88 -30 0.7 -0.7
XSW SPDR S&P Software & Services ETF 12.9 35 23 4.3 +3.0
MILN Global X Millennials Thematic ETF 12.7 50 8 2.2 +0.8
PSJ Invesco Dynamic Software ETF 12.4 56 2 11.7 +10.3
VOT Vanguard Mid-Cap Growth Index Fund 12.4 7 51 3.1 +1.7
VFMO Vanguard U.S. Momentum Factor ETF 12.3 13 45 0.7 -0.7
QMOM Alpha Architect U.S. Quantitative Momentum ETF 12.3 49 9 1.2 -0.2
ALFA AlphaClone Alternative Alpha ETF 12.3 65 -7 -0.5 -1.9
RBUS Nationwide Risk-Based U.S. Equity ETF 12.3 30 28 4.6 +3.2
IWFH iShares Virtual Work and Life Multisector ETF 12.2 47 11 0.9 -0.5
MTUM iShares Edge MSCI USA Momentum Factor ETF 11.9 15 43 4.1 +2.7
FEX First Trust Large Cap Core AlphaDEX Fund 11.7 60 -2 5.7 +4.3
BOSS Global X Founder-Run Companies ETF 11.6 45 13 3.2 +1.8
JKK iShares Morningstar Small-Cap Growth ETF 11.6 30 28 1.0 -0.4
SYG SPDR MFS Systematic Growth Equity ETF 11.5 60 -2 3.9 +2.6
WCLD WisdomTree Cloud Computing Fund 11.4 45 13 8.8 +7.4
AIEQ AI Powered Equity ETF 11.4 87 -29 2.7 +1.3
WFH Direxion Work From Home ETF 11.4 45 13 5.3 +4.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 11.3 49 9 4.8 +3.4
NULG Nuveen ESG Large-Cap Growth ETF 11.2 35 23 3.6 +2.2
DTEC ALPS Disruptive Technologies ETF 11.2 50 8 3.1 +1.7
PWB Invesco Dynamic Large Cap Growth ETF 11.2 56 2 3.2 +1.8
IBUY Amplify Online Retail ETF 11.0 65 -7 -1.1 -2.5
FDMO Fidelity Momentum Factor ETF 10.9 29 29 3.2 +1.8
TUSA First Trust Total US Market AlphaDEX ETF 10.8 70 -12 5.5 +4.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 10.8 70 -12 2.0 +0.7
GVIP Goldman Sachs Hedge Industry VIP ETF 10.8 45 13 3.7 +2.3
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 10.7 99 -41 1.6 +0.2
VIRS Pacer BioThreat Strategy ETF 10.6 70 -12 4.5 +3.1
VBK Vanguard Small-Cap Growth Index Fund 10.3 7 51 2.2 +0.8
QGRO American Century STOXX U.S. Quality Growth ETF 10.2 29 29 3.7 +2.3
GFIN Goldman Sachs Motif Finance Reimagined ETF 10.1 50 8 5.3 +3.9
SFYF SoFi 50 ETF 10.1 29 29 2.0 +0.6
ARKF ARK Fintech Innovation ETF 10.1 75 -17 0.3 -1.1
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 10.1 7 51 5.0 +3.6
SHE SPDR SSGA Gender Diversity Index ETF 10.0 20 38 4.7 +3.3
PLAT WisdomTree Modern Tech Platforms Fund 10.0 20 38 1.5 +0.2
PTF Invesco DWA Technology Momentum ETF 9.6 60 -2 0.1 -1.3
TPAY Tortoise Digital Payments Infrastructure Fund 9.6 40 18 5.7 +4.3
JKE iShares Morningstar Large-Cap Growth ETF 9.5 25 33 2.9 +1.5
BKMC BNY Mellon US Mid Cap Core Equity ETF 9.4 4 54 5.1 +3.7
SCHG Schwab U.S. Large-Cap Growth ETF 9.4 4 54 3.4 +2.0
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 9.4 20 38 7.3 +6.0
XLV Health Care Select Sector SPDR Fund 9.3 13 45 7.1 +5.8
ARKK ARK Innovation ETF 9.3 75 -17 -2.4 -3.8
GURU Global X Guru Index ETF 9.3 75 -17 3.8 +2.4
FINX Global X FinTech Thematic ETF 9.2 68 -10 3.3 +1.9
VHT Vanguard Health Care Index Fund 9.1 10 48 5.4 +4.0
GBUY Goldman Sachs Motif New Age Consumer ETF 9.1 50 8 1.7 +0.3
TECB iShares US Tech Breakthrough Multisector ETF 9.0 40 18 3.9 +2.5
FHLC Fidelity MSCI Health Care Index ETF 9.0 8 50 5.5 +4.1
IYH iShares U.S. Healthcare ETF 9.0 43 15 6.1 +4.8
VO Vanguard Mid-Cap Index Fund 9.0 4 54 5.0 +3.6
XWEB SPDR S&P Internet ETF 8.9 35 23 -0.1 -1.5
SOCL Global X Social Media ETF 8.9 65 -7 1.6 +0.2
FXD First Trust Consumer Discretionary AlphaDEX Fund 8.9 64 -6 5.4 +4.0
SKYY First Trust Cloud Computing ETF 8.8 60 -2 2.4 +1.0
JHMT John Hancock Multifactor Technology ETF 8.8 40 18 4.7 +3.3
TTTN UP Fintech China-U.S. Internet Titans ETF 8.8 59 -1 4.2 +2.9
PTH Invesco DWA Healthcare Momentum ETF 8.7 60 -2 -4.9 -6.3
IWF iShares Russell 1000 Growth ETF 8.4 19 39 3.6 +2.2
PDP Invesco DWA Momentum ETF 8.4 62 -4 2.3 +0.9
WUGI Esoterica NextG Economy ETF 8.4 75 -17 1.5 +0.1
KOMP SPDR Kensho New Economies Composite ETF 8.3 20 38 2.2 +0.8
MMLG First Trust Multi-Manager Large Growth ETF 8.3 85 -27 2.0 +0.7
CCON Direxion Connected Consumer ETF 8.2 45 13 1.1 -0.3
VONG Vanguard Russell 1000 Growth Index Fund 8.2 8 50 3.7 +2.3
SFYX Sofi Next 500 ETF 8.2 0 58 5.7 +4.3
FDG American Century Focused Dynamic Growth ETF 8.1 45 13 1.6 +0.2
IWR iShares Russell Midcap ETF 8.0 19 39 5.3 +3.9
ECOZ TrueMark ESG Active Opportunities ETF 8.0 58 0 3.6 +2.2
VUG Vanguard Growth Index Fund 8.0 4 54 3.8 +2.4
SPMO Invesco S&P 500 Momentum ETF 8.0 13 45 3.9 +2.5
NUMG Nuveen ESG Mid-Cap Growth ETF 7.9 40 18 2.0 +0.7
FTEC Fidelity MSCI Information Technology Index ETF 7.8 8 50 4.4 +3.0
VGT Vanguard Information Technology Index Fund 7.8 10 48 4.3 +3.0
SFY SoFi Select 500 ETF 7.8 0 58 4.9 +3.6
IEIH iShares Evolved U.S. Innovative Healthcare ETF 7.7 18 40 3.3 +1.9
SIZE iShares Edge MSCI USA Size Factor ETF 7.7 15 43 5.9 +4.5

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
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 US IPO Index Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.7 %
Divided by: Fwd. P/BV 5.5 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 1.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.51
 
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.