First Trust US IPO Index Fund
ALTAR
Score™
2.7% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
56.8x P/Sales
ratio
2.8x
P/BV
ratio
3.8x Div.
yield
0.8%


  • 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) $1,313
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) $52,683
Large cap (>$10bn) 82.2%
Mid cap ($2-10bn) 15.6%
Small cap (<$2bn) 2.2%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PAYPAL HOLDINGS INC 6.5 %
THERMO FISHER SCIENTIFIC INC 4.8 %
FIDELITY NATIONAL INFORMATIO 3.7 %
UBER TECHNOLOGIES, INC. 3.6 %
ELI LILLY & CO 3.5 %
SPOTIFY TECHNOLOGY SA 3.2 %
TESLA MOTORS INC 3.2 %
SNAP, INC. CLASS A 3.1 %
ZOETIS INC 2.6 %
DOCUSIGN, INC. 2.6 %
Total 37.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 80.3 %
LUXEMBOURG 3.4 %
SWITZERLAND 2.1 %
BERMUDA 2.1 %
JAPAN 2.0 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
4.6% 8.4% 9.8% 17.0% 11.5%

Market Correlations
versus... Beta R-squared
S&P500 1.13 85%
MSCI EAFE 1.11 71%
MSCI Emg. Mkts. 0.79 56%

Technical Indicators
Recent close $84.72
30d moving avg. $81.48
Annualized volatility 20.8%
Short interest (ETF) 0.2%
Short interest (Underlying) 3.3%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 64
Turnover 0.4%
Bid/Ask (% of price) 0.07%
ADV underlying (mns) $43,705

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™: 2.7%


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
(%)
OGIG O'Shares Global Internet Giants ETF 16.0 48 10 0.7 -1.9
ARKW ARK Web x.0 ETF 15.7 76 -18 -0.8 -3.5
XITK SPDR FactSet Innovative Technology ETF 15.5 45 13 0.4 -2.3
SHE SPDR SSGA Gender Diversity Index ETF 15.3 20 38 5.5 +2.9
MXDU Nationwide Maximum Diversification US Core Equity ETF 14.5 34 24 5.0 +2.3
MTUM iShares Edge MSCI USA Momentum Factor ETF 14.5 15 43 4.2 +1.6
BUYZ Franklin Disruptive Commerce ETF 14.5 50 8 -0.2 -2.8
GIGE SoFi Gig Economy ETF 14.4 59 -1 -0.5 -3.2
PNQI Invesco NASDAQ Internet ETF 14.2 62 -4 1.1 -1.5
FDN First Trust Dow Jones Internet Index Fund 14.2 52 6 2.2 -0.4
MILN Global X Millennials Thematic ETF 13.2 50 8 2.5 -0.2
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 12.2 75 -17 2.1 -0.5
IPO Renaissance IPO ETF 12.1 60 -2 24.2 +21.6
FTC First Trust Large Cap Growth AlphaDEX Fund 11.8 61 -3 2.9 +0.3
XLV Health Care Select Sector SPDR Fund 11.8 13 45 7.1 +4.5
GVIP Goldman Sachs Hedge Industry VIP ETF 11.7 45 13 4.7 +2.1
TPAY Tortoise Digital Payments Infrastructure Fund 11.6 40 18 5.9 +3.3
JKH iShares Morningstar Mid-Cap Growth ETF 11.5 30 28 2.3 -0.4
PTF Invesco DWA Technology Momentum ETF 11.3 60 -2 1.2 -1.4
FINX Global X FinTech Thematic ETF 11.3 68 -10 4.3 +1.6
XSW SPDR S&P Software & Services ETF 11.3 35 23 4.0 +1.4
IYH iShares U.S. Healthcare ETF 11.2 43 15 6.2 +3.5
IYJ iShares U.S. Industrials ETF 11.1 42 16 6.0 +3.3
FXL First Trust Technology AlphaDEX Fund 11.0 61 -3 3.2 +0.5
FHLC Fidelity MSCI Health Care Index ETF 11.0 8 50 5.5 +2.9
VHT Vanguard Health Care Index Fund 10.9 10 48 5.5 +2.8
VXF Vanguard Extended Market Index Fund 10.8 7 51 3.8 +1.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 10.8 66 -8 2.5 -0.1
VFMO Vanguard U.S. Momentum Factor ETF 10.7 13 45 1.2 -1.5
JMOM JPMorgan U.S. Momentum Factor ETF 10.7 12 46 3.9 +1.2
FDG American Century Focused Dynamic Growth ETF 10.6 45 13 1.8 -0.9
GFIN Goldman Sachs Motif Finance Reimagined ETF 10.5 50 8 5.4 +2.7
NULG Nuveen ESG Large-Cap Growth ETF 10.4 35 23 3.6 +1.0
IBUY Amplify Online Retail ETF 10.4 65 -7 -1.5 -4.2
IPAY ETFMG Prime Mobile Payments ETF 10.2 75 -17 7.2 +4.5
ARKF ARK Fintech Innovation ETF 10.2 75 -17 0.5 -2.1
IGV iShares North American Tech-Software ETF 10.1 46 12 2.4 -0.2
PWB Invesco Dynamic Large Cap Growth ETF 10.0 55 3 3.4 +0.8
IEIH iShares Evolved U.S. Innovative Healthcare ETF 9.9 18 40 2.9 +0.3
TECB iShares US Tech Breakthrough Multisector ETF 9.8 40 18 4.0 +1.4
VBK Vanguard Small-Cap Growth Index Fund 9.7 7 51 2.5 -0.2
AUSF Global X Adaptive U.S. Factor ETF 9.6 27 31 8.1 +5.4
JKE iShares Morningstar Large-Cap Growth ETF 9.5 25 33 2.9 +0.2
PSJ Invesco Dynamic Software ETF 9.0 58 0 3.9 +1.3
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 9.0 20 38 7.7 +5.1
IXJ iShares Global Healthcare ETF 9.0 46 12 6.3 +3.7
JHMH John Hancock Multifactor Healthcare ETF 8.9 40 18 6.1 +3.4
WCLD WisdomTree Cloud Computing Fund 8.9 45 13 2.0 -0.6
AIEQ AI Powered Equity ETF 8.8 87 -29 3.7 +1.1
RBUS Nationwide Risk-Based U.S. Equity ETF 8.8 30 28 5.1 +2.5
BOSS Global X Founder-Run Companies ETF 8.8 45 13 3.7 +1.1
GENY Principal Millennials Index ETF 8.7 45 13 3.8 +1.2
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 8.6 49 9 5.2 +2.6
FCTR First Trust Lunt U.S. Factor Rotation ETF 8.6 65 -7 3.4 +0.7
IWP iShares Russell Mid-Cap Growth ETF 8.5 24 34 4.2 +1.5
SYG SPDR MFS Systematic Growth Equity ETF 8.3 60 -2 4.3 +1.7
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 8.3 60 -2 3.7 +1.1
PPH VanEck Vectors Pharmaceutical ETF 8.1 36 22 10.2 +7.6
NUMG Nuveen ESG Mid-Cap Growth ETF 8.0 40 18 2.4 -0.3
JHMT John Hancock Multifactor Technology ETF 8.0 40 18 5.0 +2.4
RYH Invesco S&P 500 Equal Weight Health Care ETF 8.0 40 18 6.6 +4.0
NULC Nuveen ESG Large-Cap ETF 7.9 20 38 5.1 +2.4
PLAT WisdomTree Modern Tech Platforms Fund 7.9 45 13 1.2 -1.5
BOUT Innovator IBD Breakout Opportunities ETF 7.9 84 -26 3.3 +0.6
SKYY First Trust Cloud Computing ETF 7.9 60 -2 2.2 -0.5
XWEB SPDR S&P Internet ETF 7.8 35 23 -0.2 -2.8
CLRG IQ Chaikin U.S. Large Cap ETF 7.8 25 33 6.1 +3.5
LSLT Salt Low truBeta US Market ETF 7.8 29 29 6.1 +3.4
DTEC ALPS Disruptive Technologies ETF 7.8 50 8 3.6 +0.9
SFYF SoFi 50 ETF 7.7 29 29 5.4 +2.8
KOMP SPDR Kensho New Economies Composite ETF 7.6 20 38 2.6 -0.1
FNY First Trust Mid Cap Growth AlphaDEX Fund 7.4 70 -12 2.1 -0.6
LRGE ClearBridge Large Cap Growth ESG ETF 7.4 59 -1 3.9 +1.2
FFTY Innovator IBD 50 ETF 7.2 80 -22 3.5 +0.9
SFY SoFi Select 500 ETF 7.2 0 58 5.3 +2.7
WFH Direxion Work From Home ETF 7.2 45 13 5.3 +2.6
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 7.2 60 -2 6.3 +3.7
ALFA AlphaClone Alternative Alpha ETF 7.2 65 -7 3.4 +0.8
CACG ClearBridge All Cap Growth ETF 7.2 54 4 4.4 +1.8
FDMO Fidelity Momentum Factor ETF 7.1 29 29 3.9 +1.2
QMOM Alpha Architect U.S. Quantitative Momentum ETF 7.1 49 9 2.2 -0.4
IHAK iShares Cybersecurity & Tech ETF 7.1 47 11 3.8 +1.1
PWV Invesco Dynamic Large Cap Value ETF 7.1 55 3 8.9 +6.3
JHCS John Hancock Multifactor Media & Communications ETF 7.0 40 18 5.6 +2.9
JKK iShares Morningstar Small-Cap Growth ETF 7.0 30 28 1.1 -1.5
FEX First Trust Large Cap Core AlphaDEX Fund 7.0 60 -2 6.1 +3.4
FTEC Fidelity MSCI Information Technology Index ETF 7.0 8 50 4.6 +2.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 6.9 9 49 6.0 +3.3
FXD First Trust Consumer Discretionary AlphaDEX Fund 6.9 64 -6 7.9 +5.2
PTH Invesco DWA Healthcare Momentum ETF 6.9 60 -2 -2.4 -5.1
FXH First Trust Health Care AlphaDEX Fund 6.8 62 -4 4.4 +1.8
FMK First Trust Mega Cap AlphaDEX Fund 6.8 70 -12 5.3 +2.7
JHMS John Hancock Multifactor Consumer Staples ETF 6.7 40 18 6.0 +3.4
GBUY Goldman Sachs Motif New Age Consumer ETF 6.7 50 8 1.9 -0.7
VGT Vanguard Information Technology Index Fund 6.7 10 48 4.6 +2.0
USMV iShares Edge MSCI Min Vol USA ETF 6.6 15 43 5.5 +2.9
PWC Invesco Dynamic Market ETF 6.6 59 -1 4.9 +2.3
EUSA iShares MSCI USA Equal Weighted ETF 6.6 15 43 6.4 +3.7
SIZE iShares Edge MSCI USA Size Factor ETF 6.5 15 43 6.4 +3.7
XPH SPDR S&P Pharmaceuticals ETF 6.5 35 23 4.5 +1.8

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 11.9 %
Divided by: Fwd. P/BV 3.7 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 2.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 CATEGORY
AVERAGE
1.52
 
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.