First Trust High Income ETF
ALTAR
Score™
5.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
18.7x P/Sales
ratio
1.3x
P/BV
ratio
2.6x Div.
yield
1.8%


  • 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) $58
Currency USD
Expense ratio 85 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 108
Wgt avg mkt cap (mns) $415,332
Large cap (>$10bn) 83.2%
Mid cap ($2-10bn) 12.3%
Small cap (<$2bn) 4.0%
Developed mkts 99.9%
Emerging mkts 0.1%

TOP TEN HOLDINGS
APPLE INC 6.6 %
AMAZON.COM INC 4.9 %
MICROSOFT CORP 4.1 %
ALPHABET INC. CLASS A 3.2 %
NASDAQ OMX GROUP/THE 2.6 %
CONAGRA FOODS INC 2.6 %
EBAY INC 2.5 %
CVS CAREMARK CORP 2.5 %
CAMPBELL SOUP CO 2.4 %
HARRIS CORP 2.4 %
Total 33.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 93.6 %
CANADA 3.2 %
IRELAND 1.5 %
ISRAEL 1.4 %
BRITAIN 0.8 %
SOUTH AFRICA 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.8% -10.6% 3.2% -- 3.5%

Market Correlations
versus... Beta R-squared
S&P500 0.79 87%
MSCI EAFE 0.84 79%
MSCI Emg. Mkts. 0.60 66%

Technical Indicators
Recent close $18.66
30d moving avg. $19.28
Annualized volatility 15.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 34
Turnover 1.1%
Bid/Ask (% of price) 0.23%
ADV underlying (mns) $105,250

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 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™: 5.1%


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
(%)
FTLB First Trust Hedged BuyWrite Income ETF 96.1 85 0 4.9 -0.2
IWL iShares Russell Top 200 ETF 39.6 15 70 4.9 -0.1
HSPX Global X S&P 500 Covered Call ETF 39.6 60 25 4.9 -0.2
MGC Vanguard Mega Cap Index Fund 39.5 7 78 5.2 +0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 39.5 0 85 5.1 +0.1
XYLG Global X S&P 500 Covered Call & Growth ETF 39.2 60 25 5.0 -0.1
PBP Invesco S&P 500 BuyWrite ETF 39.2 49 36 4.9 -0.1
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 39.1 20 65 5.3 +0.3
SPY SPDR S&P 500 ETF Trust 39.1 9 76 5.3 +0.3
IVV iShares Core S&P 500 ETF 39.0 3 82 5.4 +0.3
SPLG SPDR Portfolio Large Cap ETF 39.0 3 82 5.4 +0.3
SPXE ProShares S&P 500 Ex-Energy ETF 38.9 27 58 5.3 +0.2
VOO VANGUARD S&P 500 ETF 38.7 3 82 5.4 +0.3
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 38.5 7 78 5.2 +0.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 38.3 20 65 4.9 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 38.2 27 58 4.9 -0.1
OEF iShares S&P 100 ETF 38.0 20 65 4.8 -0.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 38.0 12 73 4.7 -0.4
PBUS Invesco PureBeta MSCI USA ETF 37.9 4 81 5.2 +0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 37.7 2 83 5.2 +0.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 37.7 15 70 6.3 +1.3
ESGU iShares MSCI USA ESG Optimized ETF 37.5 15 70 5.1 -0.0
SPTM SPDR Portfolio Total Stock Market ETF 37.3 3 82 5.5 +0.4
VV Vanguard Large-Cap Index Fund 37.2 4 81 5.2 +0.1
HIPR Direxion High Growth ETF 37.1 40 45 4.6 -0.5
XLG Invesco S&P 500 Top 50 ETF 37.0 20 65 4.5 -0.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 36.9 60 25 4.1 -0.9
SCHX Schwab U.S. Large-Cap ETF 36.9 3 82 5.2 +0.1
ESGV Vanguard ESG U.S. Stock ETF 36.7 12 73 5.1 +0.0
SFY SoFi Select 500 ETF 36.6 0 85 5.1 +0.1
EPS WisdomTree U.S. Earnings 500 Fund 36.6 8 77 6.5 +1.5
SCHK Schwab 1000 Index ETF 36.4 5 80 5.2 +0.1
IWB iShares Russell 1000 ETF 36.3 15 70 5.1 +0.0
CATH Global X S&P 500 Catholic Values Custom ETF 36.2 29 56 5.1 +0.1
IYY iShares Dow Jones U.S. ETF 36.1 20 65 5.0 -0.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 36.0 9 76 5.6 +0.5
VONE Vanguard Russell 1000 ETF 35.8 8 77 5.1 +0.1
SNPE Xtrackers S&P 500 ESG ETF 35.8 10 75 5.1 -0.0
EFIV SPDR S&P 500 ESG ETF 35.8 10 75 5.1 +0.0
EXT WisdomTree U.S. Total Earnings Fund 35.4 28 57 5.5 +0.5
VTHR Vanguard Russell 3000 Index Fund 35.3 10 75 5.0 -0.1
IWV iShares Russell 3000 ETF 35.0 20 65 4.9 -0.1
SCHB Schwab U.S. Broad Market ETF 35.0 3 82 5.1 +0.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 34.9 3 82 5.1 -0.0
QLC FlexShares US Quality Large Cap Index Fund 34.8 32 53 5.2 +0.2
FVAL Fidelity Value Factor ETF 34.4 29 56 7.9 +2.8
VOOG Vanguard S&P 500 Growth ETF 34.2 10 75 4.3 -0.8
IQSU IQ Candriam ESG US Equity ETF 34.1 9 76 5.1 -0.0
VTI Vanguard Total Stock Market Index Fund 34.1 3 82 5.1 0.0
SPYG SPDR Portfolio S&P 500 Growth ETF 34.0 4 81 4.3 -0.7
IVW iShares S&P 500 Growth ETF 34.0 18 67 17.3 +12.3
NACP Impact Shares NAACP Minority Empowerment ETF 33.8 75 10 4.9 -0.2
IUSG iShares Core S&P US Growth ETF 33.8 4 81 4.4 -0.7
AFLG First Trust Active Factor Large Cap ETF 33.6 55 30 5.5 +0.4
SPXV ProShares S&P 500 Ex-Health Care ETF 33.0 27 58 5.0 -0.1
FDMO Fidelity Momentum Factor ETF 32.9 29 56 3.3 -1.8
SCHG Schwab U.S. Large-Cap Growth ETF 32.7 4 81 3.5 -1.6
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 32.3 12 73 4.8 -0.2
IWY iShares Russell Top 200 Growth ETF 32.3 20 65 3.9 -1.2
IWF iShares Russell 1000 Growth ETF 31.9 19 66 3.7 -1.3
VONG Vanguard Russell 1000 Growth Index Fund 31.7 8 77 3.8 -1.2
ACIO Aptus Collared Income Opportunity ETF 31.4 79 6 4.3 -0.7
WOMN Impact Shares YWCA Women's Empowerment ETF 31.2 75 10 4.3 -0.8
KRMA Global X Conscious Companies ETF 31.1 43 42 5.2 +0.1
SPQQ Siren Large Cap Blend Index ETF 31.0 20 65 4.9 -0.2
MGK Vanguard Mega Cap Growth ETF 31.0 7 78 4.1 -1.0
SYE SPDR MFS Systematic Core Equity ETF 30.9 60 25 5.8 +0.7
IUS Invesco Strategic US ETF 30.9 19 66 6.6 +1.5
AVUS Avantis U.S. Equity ETF 30.7 15 70 5.6 +0.6
VUG Vanguard Growth Index Fund 30.5 4 81 3.9 -1.2
KOKU Xtrackers MSCI Kokusai Equity ETF 30.3 9 76 5.8 +0.7
ESG FlexShares STOXX US ESG Impact Index Fund 30.3 32 53 5.1 +0.1
JHML John Hancock Multifactor Large Cap ETF 30.2 29 56 5.5 +0.5
TOK iShares MSCI Kokusai ETF 30.2 25 60 5.7 +0.6
QLV FlexShares US Quality Low Volatility Index Fund 30.1 22 63 4.9 -0.2
FQAL Fidelity Quality Factor ETF 30.1 29 56 5.5 +0.4
SYG SPDR MFS Systematic Growth Equity ETF 30.0 60 25 4.1 -1.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 29.8 19 66 6.1 +1.1
ADME Aptus Drawdown Managed Equity ETF 29.6 79 6 3.4 -1.6
RECS Columbia Research Enhanced Core ETF 29.6 15 70 5.7 +0.6
SPXT ProShares S&P 500 Ex-Technology ETF 29.6 27 58 5.6 +0.5
MTUM iShares MSCI USA Momentum Factor ETF 29.6 15 70 4.2 -0.8
RWL Invesco S&P 500 Revenue ETF 29.6 39 46 7.4 +2.3
SFYF SoFi 50 ETF 29.4 29 56 2.1 -2.9
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 28.5 25 60 6.3 +1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 28.5 25 60 6.9 +1.8
URTH iShares MSCI World ETF 28.2 24 61 5.7 +0.7
QYLD Global X NASDAQ 100 Covered Call ETF 28.2 60 25 3.5 -1.6
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 28.1 75 10 3.9 -1.2
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 28.1 60 25 3.5 -1.6
QQQ Invesco QQQ Trust 28.0 20 65 3.8 -1.3
DIVB iShares U.S. Dividend & Buyback ETF 28.0 25 60 7.0 +1.9
TMFC Motley Fool 100 Index ETF 27.9 50 35 3.4 -1.6
STLC iShares Factors US Blend Style ETF 27.9 25 60 5.3 +0.3
NUSI Nationwide Risk-Managed Income ETF 27.9 68 17 3.2 -1.8
PRF Invesco FTSE RAFI US 1000 ETF 27.7 39 46 6.9 +1.9
SPMO Invesco S&P 500 Momentum ETF 27.5 13 72 4.0 -1.1
QUS SPDR MSCI USA StrategicFactors ETF 27.3 15 70 5.9 +0.9
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 27.2 49 36 4.0 -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%.

Content on this tab for subscribers only**

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 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 14.1 %
Divided by: Fwd. P/BV 2.4 x
Less: Expense ratio 85 bp
Equals: ALTAR Score 5.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.46 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.