First Trust International Equity Opportunities ETF
ALTAR
Score™
4.3% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
24.4x P/Sales
ratio
2.9x
P/BV
ratio
3.6x Div.
yield
1.8%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust International IPO ETF tracks a market-cap-weighted index of the 50-largest IPOs outside of the US over the first 1,000 trading days of each stock. Stocks must pass additional quantitative screens to be included.

FUND BASICS
Category International Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Nov 05, 2014
Assets (mns) $58
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 50
Wgt avg mkt cap (mns) $41,214
Large cap (>$10bn) 74.0%
Mid cap ($2-10bn) 20.0%
Small cap (<$2bn) 0.0%
Developed mkts 81.6%
Emerging mkts 18.4%

TOP TEN HOLDINGS
SHOPIFY, INC. CLASS A 5.6 %
SOFTBANK CORP. 4.7 %
DONG ENERGY A/S 4.7 %
ADYEN NV 4.4 %
PROSUS N.V. CLASS N 4.4 %
FERRARI NV 4.3 %
POSTAL SAVINGS BANK OF CHINA CO., 4.0 %
SIEMENS HEALTHINEERS AG 4.0 %
SANOFI-AVENTIS 4.0 %
XIAOMI CORP. CLASS B 3.9 %
Total 43.9 %

TOP COUNTRY EXPOSURE
CHINA 31.2 %
FRANCE 7.7 %
CANADA 5.6 %
NETHERLANDS 5.3 %
GERMANY 4.9 %
JAPAN 4.7 %
DENMARK 4.7 %
ITALY 4.6 %
BRAZIL 3.5 %
SWEDEN 3.2 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
0.0% 21.6% 10.2% -- 8.1%

Market Correlations
versus... Beta R-squared
S&P500 0.89 53%
MSCI EAFE 1.10 67%
MSCI Emg. Mkts. 0.85 69%

Technical Indicators
Recent close $41.08
30d moving avg. $41.65
Annualized volatility 14.8%
Short interest (ETF) 1.3%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 18
Turnover 1.3%
Bid/Ask (% of price) 0.56%
ADV underlying (mns) $5,818

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FPXI Expense: 70 bp ALTAR Score™: 4.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FPXI
Ticker Fund
Name
Overlap1
vs FPXI
(%)
Expense
ratio
(bp)
Savings
vs FPXI
(bp)
ALTAR
Score™
(%)
ALTAR
vs FPXI
(%)
FPXE First Trust IPOX Europe Equity Opportunities ETF 31.3 70 0 3.9 -0.4
FDNI First Trust Dow Jones International Internet ETF 21.7 65 5 2.9 -1.4
IPOS Renaissance International IPO ETF 21.3 80 -10 4.7 +0.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 14.9 86 -16 2.3 -2.0
ARKF ARK Fintech Innovation ETF 12.8 75 -5 1.4 -2.9
CXSE WisdomTree China ex-State-Owned Enterprises Fund 12.6 32 38 6.2 +1.9
CHIQ Global X China Consumer ETF 11.6 65 5 4.7 +0.4
KWEB KraneShares CSI China Internet ETF 8.8 76 -6 3.0 -1.3
FNI First Trust Chindia ETF 8.6 59 11 3.7 -0.7
GIGE SoFi Gig Economy ETF 8.5 59 11 0.0 -4.3
PGJ Invesco Golden Dragon China ETF 8.3 70 0 3.1 -1.2
GXC SPDR S&P China ETF 8.0 59 11 8.7 +4.4
XBUY Amplify International Online Retail ETF 7.6 69 1 -1.0 -5.3
AIQ Global X Future Analytics Tech ETF 7.5 68 2 4.3 0.0
FLCH Franklin FTSE China ETF 7.4 19 51 9.2 +4.9
EBIZ Global X E-Commerce ETF 7.4 50 20 3.0 -1.3
GBUY Goldman Sachs Motif New Age Consumer ETF 7.3 50 20 2.7 -1.6
CQQQ Invesco China Technology ETF 7.3 70 0 4.1 -0.2
CLOU Global X Cloud Computing ETF 7.1 68 2 1.1 -3.2
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF 6.9 45 25 9.7 +5.4

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

Content on this tab for subscribers only

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 International 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 17.7 %
Divided by: Fwd. P/BV 3.5 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.47 CATEGORY
AVERAGE
1.64
 
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.