First Trust BuyWrite Income ETF
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2024E    2025E
P/E
ratio
16.8x P/Sales
ratio
1.7x
P/BV
ratio
2.9x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust High Income ETF is an actively managed portfolio of US large-cap stocks, with an overlay of short calls on the S&P 500.

FUND BASICS
Category US Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Jan 06, 2014
Assets (mns) $488
Currency USD
Expense ratio 75 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Proprietary
Index replication
Uses derivatives Yes
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 187
Wgt avg mkt cap (mns) $713,424
Large cap (>$10bn) 74.2%
Mid cap ($2-10bn) 22.9%
Small cap (<$2bn) 2.8%
Developed mkts 99.6%
Emerging mkts 0.4%

TOP TEN HOLDINGS
MICROSOFT CORP 6.6 %
APPLE INC 5.8 %
NVIDIA CORP 4.3 %
AMAZON.COM INC 3.5 %
META PLATFORMS INC 2.3 %
FIAT CHRYSLER AUTOMOBILES N.V. 2.1 %
ALPHABET INC. CLASS A 1.8 %
ROGERS COMMUNICATIONS INC. CLASS B 1.7 %
BERKSHIRE HATHAWAY INC-CL B 1.6 %
ALPHABET INC. CLASS C 1.6 %
Total 31.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 90.3 %
BRITAIN 5.0 %
CANADA 1.7 %
MONACO 0.5 %
IRELAND 0.5 %
MEXICO 0.4 %
DENMARK 0.4 %
ITALY 0.3 %
GREECE 0.3 %
SWITZERLAND 0.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 29)
Year-to-date 1 year 5 years 10 years Since Incep.
4.9% 22.7% 7.2% 6.1% 6.5%

Market Correlations
versus... Beta R-squared
S&P500 0.63 80%
MSCI EAFE 0.62 71%
MSCI Emg. Mkts. 0.43 37%

Technical Indicators
Recent close $22.09
30d moving avg. $20.95
Annualized volatility 12.7%
Short interest (ETF) 0.2%
Short interest (Underlying) 3.3%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 212
Turnover 1.0%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $205,983

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 36 potential alternatives to the First Trust BuyWrite Income ETF ETF based on the alternatives' overlap in portfolio holdings with FTHI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FTHI Expense: 75 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FTHI
Ticker Fund
Name
Overlap1
vs FTHI
(%)
Expense
ratio
(bp)
Savings
vs FTHI
(bp)
ALTAR
Score™
(%)
ALTAR
vs FTHI
(%)
PBP Invesco S&P 500 BuyWrite ETF 58.5 49 26 4.9 -0.6
XRMI Global X S&P 500 Risk Managed Income ETF 58.4 60 15 4.8 -0.7
XYLD Global X S&P 500 Covered Call ETF 58.4 60 15 4.8 -0.7
XYLG Global X S&P 500 Covered Call & Growth ETF 58.4 60 15 4.7 -0.8
XCLR Global X S&P 500 Collar 95-110 ETF 58.3 25 50 5.1 -0.4
XTR Global X S&P 500 Tail Risk ETF 58.3 26 49 5.0 -0.4
SFLR Innovator Equity Managed Floor ETF 54.1 89 -14 4.2 -1.3
EFIV SPDR S&P 500 ESG ETF 48.1 10 65 5.1 -0.3
XYLE Global X S&P 500 ESG Covered Call ETF 48.1 60 15 4.9 -0.6
ACIO Aptus Collared Investment Opportunity ETF 47.0 79 -4 4.3 -1.2
FTQI First Trust Nasdaq BuyWrite Income ETF 41.2 75 0 4.0 -1.5
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 36.7 35 40 4.3 -1.2
QRMI Global X NASDAQ 100 Risk Managed Income ETF 35.8 60 15 4.2 -1.3
QYLD Global X NASDAQ 100 Covered Call ETF 35.8 60 15 4.2 -1.3
QCLR Global X NASDAQ 100 Collar 95-110 ETF 35.8 25 50 4.4 -1.1
NUSI Nationwide Nasdaq-100 Risk-Managed Income ETF 35.8 68 7 4.1 -1.4
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 35.8 60 15 4.1 -1.4
QTR Global X NASDAQ 100 Tail Risk ETF 35.8 26 49 4.4 -1.1
QYLE Global X Nasdaq 100 ESG Covered Call ETF 35.1 60 15 4.3 -1.2
SIXH ETC 6 Meridian Hedged Equity Index Option ETF 35.1 82 -7 5.8 +0.3
STLG iShares Factors US Growth Style ETF 35.0 25 50 5.5 +0.0
MMLG First Trust Multi-Manager Large Growth ETF 33.8 85 -10 2.0 -3.5
DJIA Global X Dow 30 Covered Call ETF 24.6 60 15 5.3 -0.2
DYLG Global X Dow 30 Covered Call & Growth ETF 24.6 60 15 5.3 -0.2
TYLG Global X Information Technology Covered Call & Growth ETF 22.5 60 15 4.3 -1.1
DIVO Amplify CWP Enhanced Dividend Income ETF 18.5 55 20 5.6 +0.1
CCOR Core Alternative ETF 17.9 107 -32 5.2 -0.2
THNQ ROBO Global Artificial Intelligence ETF 14.1 68 7 1.6 -3.9
XVOL Acruence Active Hedge U.S. Equity ETF 9.4 83 -8 5.0 -0.5
LCG Sterling Capital Focus Equity ETF 9.1 59 16 3.0 -2.5
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 7.8 75 0 5.8 +0.4
HYLG Global X Health Care Covered Call & Growth ETF 6.3 60 15 6.3 +0.9
FYLG Global X Financials Covered Call & Growth ETF 6.2 60 15 5.6 +0.1
RYLD Global X Russell 2000 Covered Call ETF 4.3 60 15 3.4 -2.1
GBLD Invesco MSCI Green Building ETF 1.6 39 36 8.4 +2.9
IDVO Amplify International Enhanced Dividend Income ETF 1.5 65 10 8.7 +3.2

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  2023 2024E 2025E
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 BuyWrite Income ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 17.9 %
Divided by: Fwd. P/BV 2.9 x
Less: Expense ratio 75 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 CATEGORY
AVERAGE
1.55
 
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.