First Trust IPOX Europe Equity Opportunities ETF
ALTAR
Score™
2.4% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
36.5x P/Sales
ratio
2.5x
P/BV
ratio
3.9x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust IPOX Europe Equity Opportunities ETF tracks a market-cap-weighted index of the 100 largest European IPOs over the first 1,000 trading days for each stock.

FUND BASICS
Category International Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Oct 02, 2018
Assets (mns) $2
Currency USD
Expense ratio 70 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 101
Wgt avg mkt cap (mns) $34,669
Large cap (>$10bn) 71.2%
Mid cap ($2-10bn) 19.2%
Small cap (<$2bn) 0.6%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
PROSUS N.V. CLASS N 7.0 %
NOVARTIS AG-REG 6.3 %
SANOFI-AVENTIS 5.1 %
SPOTIFY TECHNOLOGY SA 4.8 %
SIEMENS HEALTHINEERS AG 4.4 %
ADYEN NV 4.3 %
DONG ENERGY A/S 3.9 %
UCB SA 3.5 %
GENMAB A/S 3.4 %
FERRARI NV 3.3 %
Total 45.9 %

TOP COUNTRY EXPOSURE
NETHERLANDS 15.6 %
GERMANY 12.8 %
SWITZERLAND 9.7 %
FRANCE 9.3 %
DENMARK 8.5 %
LUXEMBOURG 5.5 %
ITALY 4.5 %
BELGIUM 3.5 %
SWEDEN 2.4 %
BRITAIN 2.3 %

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.
9.0% 17.7% -- -- 20.0%

Market Correlations
versus... Beta R-squared
S&P500 0.77 79%
MSCI EAFE 0.86 81%
MSCI Emg. Mkts. 0.62 63%

Technical Indicators
Recent close $24.48
30d moving avg. $23.47
Annualized volatility 18.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 64

Liquidity measures
Avg. volume (thou.) 1
Turnover 1.0%
Bid/Ask (% of price) 0.21%
ADV underlying (mns) $5,003

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the First Trust IPOX Europe Equity Opportunities ETF ETF based on the alternatives' overlap in portfolio holdings with FPXE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FPXE Expense: 70 bp ALTAR Score™: 2.4%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FPXE
Ticker Fund
Name
Overlap1
vs FPXE
(%)
Expense
ratio
(bp)
Savings
vs FPXE
(bp)
ALTAR
Score™
(%)
ALTAR
vs FPXE
(%)
FPXI First Trust International Equity Opportunities ETF 29.1 70 0 3.2 +0.8
EWN iShares MSCI Netherlands ETF 13.3 50 20 5.1 +2.8
FDNI First Trust Dow Jones International Internet ETF 13.3 65 5 2.2 -0.2
EUDV ProShares MSCI Europe Dividend Growers ETF 8.9 55 15 5.7 +3.3
EWL iShares MSCI Switzerland ETF 8.6 50 20 5.1 +2.7
FLSW Franklin FTSE Switzerland ETF 8.6 9 61 5.5 +3.2
EUMV iShares Edge MSCI Min Vol Europe ETF 8.2 25 45 5.0 +2.7
IDNA iShares Genomics Immunology & Healthcare ETF 8.1 47 23 -2.9 -5.3
EDEN iShares MSCI Denmark Capped ETF 8.0 53 17 6.1 +3.8
IMTM iShares Edge MSCI Intl Momentum Factor ETF 8.0 30 40 4.3 +2.0
EZU iShares MSCI Eurozone ETF 7.9 49 21 6.6 +4.2
HEDJ WisdomTree Europe Hedged Equity Fund 7.6 58 12 6.9 +4.6
IPAY ETFMG Prime Mobile Payments ETF 7.5 75 -5 7.2 +4.8
TPAY Tortoise Digital Payments Infrastructure Fund 7.5 40 30 6.0 +3.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 7.5 45 25 6.8 +4.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 7.2 25 45 6.5 +4.2
DBEU Xtrackers MSCI Europe Hedged Equity ETF 7.2 45 25 6.7 +4.3
FEU SPDR Portfolio Europe ETF 7.2 9 61 7.4 +5.0
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 7.2 30 40 6.8 +4.5
FLEH Franklin FTSE Europe Hedged ETF 7.2 9 61 7.1 +4.8
BBEU JPMorgan BetaBuilders Europe ETF 7.1 9 61 7.3 +5.0
FLEE Franklin FTSE Europe ETF 7.1 9 61 7.0 +4.6
IEUR iShares Core MSCI Europe ETF 7.1 9 61 7.3 +4.9
IEV iShares Europe ETF 7.0 59 11 6.8 +4.4
VGK Vanguard FTSE Europe ETF 7.0 8 62 7.4 +5.1
IXJ iShares Global Healthcare ETF 7.0 46 24 6.3 +3.9
IVLU iShares Edge MSCI Intl Value Factor ETF 6.9 30 40 11.5 +9.1
RFEU First Trust Riverfront Dynamic Europe ETF 6.8 83 -13 5.4 +3.0
IDHQ Invesco S&P International Developed Quality ETF 6.7 29 41 5.1 +2.7
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 6.6 86 -16 2.1 -0.2
FLFR Franklin FTSE France ETF 6.5 9 61 6.9 +4.5
EWQ iShares MSCI France ETF 6.4 50 20 6.5 +4.1
FEP First Trust Europe AlphaDEX Fund 6.4 80 -10 7.7 +5.4
FEUZ First Trust Eurozone AlphaDEX ETF 6.4 80 -10 7.7 +5.4
DXGE WisdomTree Germany Hedged Equity Fund 6.2 48 22 8.8 +6.4
LNGR Global X Longevity Thematic ETF 6.0 50 20 3.1 +0.8
IMOM Alpha Architect International Quantitative Momentum ETF 6.0 59 11 3.4 +1.0
SCID Global X Scientific Beta Europe ETF 5.9 39 31 6.5 +4.1
FLIY Franklin FTSE Italy ETF 5.9 9 61 7.6 +5.3
EWG iShares MSCI Germany ETF 5.9 49 21 6.9 +4.5
EURZ Xtrackers Eurozone Equity ETF 5.9 9 61 7.1 +4.7
RBIN Nationwide Risk-Based International Equity ETF 5.8 42 28 6.5 +4.1
DBGR Xtrackers MSCI Germany Hedged Equity ETF 5.8 45 25 7.0 +4.7
IPOS Renaissance International IPO ETF 5.8 80 -10 4.7 +2.4
FAN First Trust Global Wind Energy ETF 5.8 62 8 6.0 +3.7
FINX Global X FinTech Thematic ETF 5.7 68 2 4.3 +1.9
FLGR Franklin FTSE Germany ETF 5.6 9 61 7.3 +4.9
EWI iShares MSCI Italy ETF 5.5 49 21 7.6 +5.2
GDNA Goldman Sachs Motif Human Evolution ETF 5.5 50 20 0.3 -2.1
PLAT WisdomTree Modern Tech Platforms Fund 5.5 45 25 1.1 -1.2
GENY Principal Millennials Index ETF 5.4 45 25 3.8 +1.4
GBUY Goldman Sachs Motif New Age Consumer ETF 5.4 50 20 1.9 -0.5
EFV iShares MSCI EAFE Value ETF 5.4 39 31 9.6 +7.3
IGRO iShares International Dividend Growth ETF 5.4 22 48 8.1 +5.7
OEUR O'shares FTSE Europe Quality Dividend ETF 5.4 48 22 6.6 +4.3
IEUS iShares MSCI Europe Small-Cap ETF 5.3 40 30 8.0 +5.7
JPEU JPMorgan Diversified Return Europe Equity ETF 5.2 37 33 7.0 +4.7
FPX First Trust US IPO Index Fund 5.2 58 12 2.6 +0.3
LVHI Legg Mason International Low Volatility High Dividend ETF 5.0 40 30 9.3 +7.0
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 4.9 20 50 9.6 +7.2
XBUY Amplify International Online Retail ETF 4.8 69 1 -1.0 -3.4
EFAD ProShares MSCI EAFE Dividend Growers ETF 4.8 50 20 6.2 +3.8
PBS Invesco Dynamic Media ETF 4.8 63 7 5.2 +2.9
SOCL Global X Social Media ETF 4.8 65 5 1.9 -0.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 4.7 20 50 7.1 +4.8
EFA iShares MSCI EAFE ETF 4.7 32 38 7.1 +4.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 4.7 35 35 6.9 +4.6
DOL WisdomTree International LargeCap Dividend Fund 4.6 48 22 8.6 +6.3
QINT American Century Quality Diversified International ETF 4.5 39 31 5.8 +3.4
GSID Goldman Sachs MarketBeta International Equity ETF 4.5 20 50 7.4 +5.0
IBUY Amplify Online Retail ETF 4.4 65 5 -1.5 -3.9
IEFA iShares Core MSCI EAFE ETF 4.4 7 63 7.4 +5.0
RFDI First Trust Riverfront Dynamic Developed International ETF 4.4 83 -13 5.7 +3.3
MVIN Natixis Seeyond International Minimum Volatility ETF 4.4 56 14 5.4 +3.0
FIDI Fidelity International High Dividend ETF 4.4 39 31 11.2 +8.8
DWMF WisdomTree International Multifactor Fund 4.4 38 32 6.8 +4.5
IDY Pacific Global International Equity Income ETF 4.3 39 31 8.1 +5.7
QDEU SPDR MSCI Germany Quality Mix ETF 4.3 14 56 7.5 +5.2
QEFA SPDR MSCI EAFE Quality Mix ETF 4.3 30 40 6.9 +4.5
BKIE BNY Mellon International Equity ETF 4.3 4 66 7.5 +5.2
FEZ SPDR EURO STOXX 50 ETF 4.2 29 41 7.1 +4.7
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 4.2 7 63 7.6 +5.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 4.1 25 45 6.6 +4.3
FGM First Trust Germany AlphaDEX Fund 4.1 80 -10 6.8 +4.4
EFG iShares MSCI EAFE Growth ETF 4.1 40 30 4.6 +2.2
DTEC ALPS Disruptive Technologies ETF 4.0 50 20 3.6 +1.2
IDEV iShares Core MSCI International Developed Markets ETF 4.0 5 65 7.3 +4.9
CNCR Loncar Cancer Immunotherapy ETF 4.0 79 -9 -2.9 -5.3
MILN Global X Millennials Thematic ETF 3.9 50 20 2.5 +0.1
HDMV First Trust Horizon Managed Volatility Developed Intl ETF 3.9 80 -10 6.0 +3.6
GXF Global X FTSE Nordic Region ETF 3.9 56 14 11.1 +8.8
EFAV iShares Edge MSCI Min Vol EAFE ETF 3.9 20 50 5.5 +3.2
SCHF Schwab International Equity ETF 3.9 6 64 7.4 +5.1
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 3.8 30 40 0.0 -2.4
SPDW SPDR Portfolio Developed World ex-US ETF 3.8 4 66 7.2 +4.9
VIGI Vanguard International Dividend Appreciation ETF 3.8 25 45 5.6 +3.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 3.7 35 35 8.6 +6.2
DWCR Arrow DWA Country Rotation ETF 3.7 95 -25 16.6 +14.3

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

  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 IPOX Europe Equity Opportunities ETF
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 11.5 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 2.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.53 CATEGORY
AVERAGE
1.59
 
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.