First Trust Hedged BuyWrite Income ETF
ALTAR
Score™
4.9% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
19.2x P/Sales
ratio
1.3x
P/BV
ratio
2.7x Div.
yield
1.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust Low Beta Income ETF is an actively managed portfolio of US large-cap stocks, with an options overlay of short calls and long puts 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) $5
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) $402,203
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 6.3 %
AMAZON.COM INC 4.8 %
MICROSOFT CORP 4.0 %
ALPHABET INC. CLASS A 3.1 %
CONAGRA FOODS INC 2.4 %
NASDAQ OMX GROUP/THE 2.4 %
EBAY INC 2.3 %
CAMPBELL SOUP CO 2.3 %
CVS CAREMARK CORP 2.3 %
AT&T INC 2.3 %
Total 32.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.5 %
CANADA 3.0 %
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.
-11.8% -11.1% 2.0% -- 2.2%

Market Correlations
versus... Beta R-squared
S&P500 0.50 79%
MSCI EAFE 0.49 62%
MSCI Emg. Mkts. 0.35 48%

Technical Indicators
Recent close $19.07
30d moving avg. $19.34
Annualized volatility 10.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 47

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.4%
Bid/Ask (% of price) 0.31%
ADV underlying (mns) $105,250

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the First Trust Hedged BuyWrite Income ETF ETF based on the alternatives' overlap in portfolio holdings with FTLB. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FTLB Expense: 85 bp ALTAR Score™: 4.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FTLB
Ticker Fund
Name
Overlap1
vs FTLB
(%)
Expense
ratio
(bp)
Savings
vs FTLB
(bp)
ALTAR
Score™
(%)
ALTAR
vs FTLB
(%)
FTHI First Trust High Income ETF 96.1 85 0 5.1 +0.2
HSPX Global X S&P 500 Covered Call ETF 38.7 60 25 4.9 +0.0
IWL iShares Russell Top 200 ETF 38.6 15 70 4.9 +0.1
MGC Vanguard Mega Cap Index Fund 38.6 7 78 5.2 +0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 38.5 0 85 5.1 +0.2
XYLG Global X S&P 500 Covered Call & Growth ETF 38.3 60 25 5.0 +0.1
PBP Invesco S&P 500 BuyWrite ETF 38.3 49 36 4.9 +0.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 38.3 20 65 5.3 +0.4
SPY SPDR S&P 500 ETF Trust 38.2 9 76 5.3 +0.4
IVV iShares Core S&P 500 ETF 38.2 3 82 5.4 +0.5
SPLG SPDR Portfolio Large Cap ETF 38.2 3 82 5.4 +0.5
SPXE ProShares S&P 500 Ex-Energy ETF 38.0 27 58 5.3 +0.4
VOO VANGUARD S&P 500 ETF 38.0 3 82 5.4 +0.5
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 37.7 7 78 5.2 +0.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 37.4 20 65 4.9 +0.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 37.3 2 83 5.2 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 37.3 27 58 4.9 +0.0
PBUS Invesco PureBeta MSCI USA ETF 37.2 4 81 5.2 +0.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 37.2 12 73 4.7 -0.2
OEF iShares S&P 100 ETF 37.0 20 65 4.8 -0.1
SPTM SPDR Portfolio Total Stock Market ETF 36.9 3 82 5.5 +0.6
VV Vanguard Large-Cap Index Fund 36.8 4 81 5.2 +0.3
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 36.8 15 70 6.3 +1.4
ESGU iShares MSCI USA ESG Optimized ETF 36.8 15 70 5.1 +0.2
SCHX Schwab U.S. Large-Cap ETF 36.5 3 82 5.2 +0.3
HIPR Direxion High Growth ETF 36.1 40 45 4.6 -0.3
SFY SoFi Select 500 ETF 36.1 0 85 5.1 +0.2
SCHK Schwab 1000 Index ETF 36.0 5 80 5.2 +0.3
IWB iShares Russell 1000 ETF 35.9 15 70 5.1 +0.2
XLG Invesco S&P 500 Top 50 ETF 35.9 20 65 4.5 -0.4
ESGV Vanguard ESG U.S. Stock ETF 35.8 12 73 5.1 +0.2
IYY iShares Dow Jones U.S. ETF 35.7 20 65 5.0 +0.1
EPS WisdomTree U.S. Earnings 500 Fund 35.7 8 77 6.5 +1.6
XOUT GraniteShares XOUT U.S. Large Cap ETF 35.6 60 25 4.1 -0.8
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 35.6 9 76 5.6 +0.7
VONE Vanguard Russell 1000 ETF 35.5 8 77 5.1 +0.3
CATH Global X S&P 500 Catholic Values Custom ETF 35.3 29 56 5.1 +0.3
SNPE Xtrackers S&P 500 ESG ETF 35.0 10 75 5.1 +0.2
EFIV SPDR S&P 500 ESG ETF 34.9 10 75 5.1 +0.2
EXT WisdomTree U.S. Total Earnings Fund 34.9 28 57 5.5 +0.7
VTHR Vanguard Russell 3000 Index Fund 34.9 10 75 5.0 +0.1
SCHB Schwab U.S. Broad Market ETF 34.7 3 82 5.1 +0.2
IWV iShares Russell 3000 ETF 34.7 20 65 4.9 +0.1
ITOT iShares Core S&P Total U.S. Stock Market ETF 34.5 3 82 5.1 +0.2
QLC FlexShares US Quality Large Cap Index Fund 34.0 32 53 5.2 +0.3
VTI Vanguard Total Stock Market Index Fund 33.7 3 82 5.1 +0.2
FVAL Fidelity Value Factor ETF 33.5 29 56 7.9 +3.0
VOOG Vanguard S&P 500 Growth ETF 33.3 10 75 4.3 -0.6
IQSU IQ Candriam ESG US Equity ETF 33.2 9 76 5.1 +0.2
SPYG SPDR Portfolio S&P 500 Growth ETF 33.1 4 81 4.3 -0.6
IVW iShares S&P 500 Growth ETF 33.1 18 67 17.3 +12.4
AFLG First Trust Active Factor Large Cap ETF 33.0 55 30 5.5 +0.6
IUSG iShares Core S&P US Growth ETF 32.9 4 81 4.4 -0.5
NACP Impact Shares NAACP Minority Empowerment ETF 32.9 75 10 4.9 -0.0
SPXV ProShares S&P 500 Ex-Health Care ETF 32.2 27 58 5.0 +0.1
FDMO Fidelity Momentum Factor ETF 32.1 29 56 3.3 -1.6
SCHG Schwab U.S. Large-Cap Growth ETF 31.8 4 81 3.5 -1.4
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 31.6 12 73 4.8 -0.1
IWY iShares Russell Top 200 Growth ETF 31.5 20 65 3.9 -1.0
IWF iShares Russell 1000 Growth ETF 31.0 19 66 3.7 -1.2
KRMA Global X Conscious Companies ETF 30.9 43 42 5.2 +0.3
VONG Vanguard Russell 1000 Growth Index Fund 30.9 8 77 3.8 -1.1
IUS Invesco Strategic US ETF 30.7 19 66 6.6 +1.7
WOMN Impact Shares YWCA Women's Empowerment ETF 30.7 75 10 4.3 -0.6
ACIO Aptus Collared Income Opportunity ETF 30.6 79 6 4.3 -0.6
AVUS Avantis U.S. Equity ETF 30.6 15 70 5.6 +0.7
SPQQ Siren Large Cap Blend Index ETF 30.5 20 65 4.9 +0.0
KOKU Xtrackers MSCI Kokusai Equity ETF 30.2 9 76 5.8 +0.9
JHML John Hancock Multifactor Large Cap ETF 30.1 29 56 5.5 +0.6
TOK iShares MSCI Kokusai ETF 30.1 25 60 5.7 +0.8
MGK Vanguard Mega Cap Growth ETF 30.0 7 78 4.1 -0.8
SYE SPDR MFS Systematic Core Equity ETF 30.0 60 25 5.8 +0.9
ESG FlexShares STOXX US ESG Impact Index Fund 29.7 32 53 5.1 +0.2
QLV FlexShares US Quality Low Volatility Index Fund 29.7 22 63 4.9 +0.0
VUG Vanguard Growth Index Fund 29.7 4 81 3.9 -1.0
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 29.4 19 66 6.1 +1.2
RWL Invesco S&P 500 Revenue ETF 29.3 39 46 7.4 +2.5
FQAL Fidelity Quality Factor ETF 29.3 29 56 5.5 +0.6
ADME Aptus Drawdown Managed Equity ETF 29.1 79 6 3.4 -1.5
SPXT ProShares S&P 500 Ex-Technology ETF 29.1 27 58 5.6 +0.7
SYG SPDR MFS Systematic Growth Equity ETF 29.1 60 25 4.1 -0.8
MTUM iShares MSCI USA Momentum Factor ETF 29.0 15 70 4.2 -0.7
RECS Columbia Research Enhanced Core ETF 28.8 15 70 5.7 +0.8
SFYF SoFi 50 ETF 28.6 29 56 2.1 -2.8
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 28.4 25 60 6.3 +1.5
FNDX Schwab Fundamental U.S. Large Co. Index ETF 28.2 25 60 6.9 +2.0
URTH iShares MSCI World ETF 28.1 24 61 5.7 +0.8
DIVB iShares U.S. Dividend & Buyback ETF 27.8 25 60 7.0 +2.1
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 27.6 75 10 3.9 -1.0
PRF Invesco FTSE RAFI US 1000 ETF 27.6 39 46 6.9 +2.0
STLC iShares Factors US Blend Style ETF 27.5 25 60 5.3 +0.5
QYLD Global X NASDAQ 100 Covered Call ETF 27.3 60 25 3.5 -1.4
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 27.2 60 25 3.5 -1.4
QQQ Invesco QQQ Trust 27.1 20 65 3.8 -1.1
TMFC Motley Fool 100 Index ETF 27.0 50 35 3.4 -1.5
QUS SPDR MSCI USA StrategicFactors ETF 27.0 15 70 5.9 +1.1
NUSI Nationwide Risk-Managed Income ETF 27.0 68 17 3.2 -1.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 26.6 30 55 6.7 +1.8
SPMO Invesco S&P 500 Momentum ETF 26.6 13 72 4.0 -0.9

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 Hedged BuyWrite Income ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.1 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 85 bp
Equals: ALTAR Score 4.9 %
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.