First Trust High Income ETF
ALTAR
Score™
6.6% info Recommen-
dation
NEUTRAL
2023E    2024E
P/E
ratio
15.8x P/Sales
ratio
2.2x
P/BV
ratio
3.0x Div.
yield
2.1%


  • 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) $131
Currency USD
Expense ratio 85 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 194
Wgt avg mkt cap (mns) $451,534
Large cap (>$10bn) 75.4%
Mid cap ($2-10bn) 17.2%
Small cap (<$2bn) 0.5%
Developed mkts 98.5%
Emerging mkts 1.6%

TOP TEN HOLDINGS
APPLE INC 6.4 %
MICROSOFT CORP 5.5 %
AMAZON.COM INC 2.5 %
ALPHABET INC. CLASS A 1.8 %
BERKSHIRE HATHAWAY INC-CL B 1.6 %
TESLA MOTORS INC 1.5 %
EXXON MOBIL CORP 1.5 %
UNITEDHEALTH GROUP INC 1.4 %
ALPHABET INC. CLASS C 1.4 %
JOHNSON & JOHNSON 1.4 %
Total 25.0 %

TOP COUNTRY EXPOSURE
UNITED STATES 87.9 %
BRITAIN 4.0 %
CANADA 1.7 %
DENMARK 1.0 %
SWITZERLAND 0.9 %
IRELAND 0.9 %
BRAZIL 0.7 %
CHINA 0.4 %
INDIA 0.3 %
BELGIUM 0.3 %

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.
5.7% 1.0% 2.4% -- 5.7%

Market Correlations
versus... Beta R-squared
S&P500 0.72 80%
MSCI EAFE 0.71 75%
MSCI Emg. Mkts. 0.59 56%

Technical Indicators
Recent close $20.37
30d moving avg. $19.90
Annualized volatility 17.4%
Short interest (ETF) 0.6%
Short interest (Underlying) 3.3%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 50
Turnover 0.8%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $82,990

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 33 potential alternatives to the First Trust High 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: 85 bp ALTAR Score™: 6.6%


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
(%)
XYLD Global X S&P 500 Covered Call ETF 60.7 60 25 6.1 -0.5
XRMI Global X S&P 500 Risk Managed Income ETF 60.6 60 25 6.1 -0.5
PBP Invesco S&P 500 BuyWrite ETF 60.6 49 36 6.2 -0.4
XYLG Global X S&P 500 Covered Call & Growth ETF 59.8 60 25 6.0 -0.6
XCLR Global X S&P 500 Collar 95-110 ETF 59.4 60 25 6.1 -0.5
XTR Global X S&P 500 Tail Risk ETF 59.1 60 25 6.1 -0.5
XVOL Acruence Active Hedge U.S. Equity ETF 58.8 83 2 6.0 -0.6
EFIV SPDR S&P 500 ESG ETF 50.6 10 75 6.6 +0.1
ACIO Aptus Collared Income Opportunity ETF 46.8 79 6 5.9 -0.7
FTQI First Trust Nasdaq BuyWrite Income ETF 31.2 85 0 4.7 -1.9
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 30.7 35 50 6.0 -0.6
QYLD Global X NASDAQ 100 Covered Call ETF 28.8 60 25 5.6 -1.0
QRMI Global X NASDAQ 100 Risk Managed Income ETF 28.8 60 25 5.6 -1.0
QCLR Global X NASDAQ 100 Collar 95-110 ETF 28.7 60 25 5.5 -1.1
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 28.7 60 25 5.5 -1.1
QTR Global X NASDAQ 100 Tail Risk ETF 28.7 60 25 5.6 -1.0
NUSI Nationwide Risk-Managed Income ETF 28.7 68 17 5.3 -1.3
STLG iShares Factors US Growth Style ETF 28.1 25 60 9.1 +2.5
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF 25.9 87 -2 7.4 +0.8
DJIA Global X Dow 30 Covered Call ETF 24.9 60 25 7.2 +0.6
MMLG First Trust Multi-Manager Large Growth ETF 24.7 85 0 2.8 -3.8
CCOR Core Alternative ETF 22.9 107 -22 5.8 -0.8
TYLG Global X Information Technology Covered Call & Growth ETF 19.9 60 25 6.1 -0.5
DIVO Amplify YieldShares CWP Dividend & Option Income ETF 18.9 55 30 7.4 +0.8
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 13.3 75 10 5.9 -0.7
HYLG Global X Health Care Covered Call & Growth ETF 11.7 60 25 8.5 +1.9
LCG Sterling Capital Focus Equity ETF 10.0 59 26 4.8 -1.8
THNQ ROBO Global Artificial Intelligence ETF 9.8 68 17 2.2 -4.4
FYLG Global X Financials Covered Call & Growth ETF 6.9 60 25 7.6 +1.0
GRES IQ Global Resources ETF 5.1 30 55 9.0 +2.4
RYLD Global X Russell 2000 Covered Call ETF 1.7 60 25 4.0 -2.6
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 1.5 58 27 5.1 -1.5
GBLD Invesco MSCI Green Building ETF 0.5 39 46 7.6 +1.0

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

  2018 2019 2020 2021 2022 2023E 2024E
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
  2022 2023E 2024E
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 High 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 19.6 %
Divided by: Fwd. P/BV 2.6 x
Less: Expense ratio 85 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.49 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.