ETF Research Center

The First Trust Indxx Global Natural Resources Income ETF tracks the price and yield performance, before fees and expenses, to the Indxx Global Natural Resources Income Index.

FUND BASICS
Category	Global Equities
Fund Sponsor	First Trust Advisors LP
Website	www.ftportfolios.com
Inception date	Mar 12, 2010
Assets (mns)	$7
Currency	USD
Expense ratio	70 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian	Bank of New York Mellon
Weighting	Market Cap
Index replication	Full
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	50
Wgt avg mkt cap (mns)	$37,728
Large cap (>$10bn)	73.5%
Mid cap ($2-10bn)	22.2%
Small cap (<$2bn)	4.3%
Developed mkts	79.5%
Emerging mkts	20.5%

TOP TEN HOLDINGS
Total	63.5 %
RIO TINTO PLC-SPON ADR	9.9 %
CNOOC LTD-ADR	8.3 %
OCCIDENTAL PETROLEUM CORP	8.2 %
ARCHER-DANIELS-MIDLAND CO	8.0 %
UPM-KYMMENE OYJ	5.3 %
MMC NORILSK NICKEL OJSC	5.0 %
INTERNATIONAL PAPER CO	4.8 %
VEOLIA ENVIRONNEMENT	4.7 %
MARUBENI CORP	4.7 %
TATNEFT-CLS	4.6 %

TOP COUNTRY EXPOSURE
	UNITED STATES	26.6 %
	BRITAIN	23.1 %
	RUSSIA	13.8 %
	HONG KONG	8.7 %
	FINLAND	5.3 %
	FRANCE	4.7 %
	JAPAN	4.7 %
	CANADA	2.1 %
	AUSTRALIA	1.7 %
	COLOMBIA	1.6 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru October 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
10.3%	1.2%	-7.0%	--	-7.1%

Market Correlations
versus...	Beta	R-squared
S&P500	0.71	48%
MSCI EAFE	0.86	59%
MSCI Emg. Mkts.	0.55	39%

Technical Indicators
Recent close	$11.78
30d moving avg.	$11.54
Annualized volatility	12.5%
Short interest (ETF)	0.0%
Relative strength (RSI)	64

Liquidity measures
Avg. volume (thou.)	2
Turnover	0.3%
Bid/Ask (% of price)	0.27%
ADV underlying (mns)	$1,213

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the First Trust ISE Global Natural Resources Income ETF based on the alternatives' overlap in portfolio holdings with FTRI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

FTRI

Expense:

70 bp

ALTAR Score™:

9.9%

ALTERNATIVE ETFs BASED ON OVERLAP WITH FTRI
Ticker	Fund Name	Overlap¹ vs FTRI (%)	Expense ratio (bp)	Savings vs FTRI (bp)	ALTAR Score™ (%)	ALTAR vs FTRI (%)
TBLU	Tortoise Water Fund	13.0	40	30	4.9	-5.0
CUT	Invesco Timber	13.0	55	15	7.2	-2.8
CGW	Invesco S&P Global Water	13.0	62	8	4.3	-5.6
PIO	Invesco Global Water	11.7	75	-5	4.4	-5.5
GUNR	Flexshares Global Upstream Natural Resources	11.4	46	24	5.7	-4.2
VEGI	iShares MSCI Global Agriculture Producers	11.0	39	31	6.9	-3.0
ERUS	iShares MSCI Russia	10.6	59	11	16.0	+6.1
SLX	VanEck Vectors Steel	10.2	56	14	13.4	+3.5
FLRU	Franklin FTSE Russia	9.6	19	51	17.4	+7.5
WOOD	iShares S&P Global Timber	9.2	46	24	6.7	-3.2
WBIY	WBI Power Factor High Dividend	8.6	70	0	10.0	+0.1
GNR	SPDR S&P Global Nat. Resources	8.1	40	30	6.5	-3.4
NANR	SPDR S&P N. American Nat. Resources	7.9	35	35	4.1	-5.8
FRAK	VanEck Vectors Unconventional Oil & Gas	7.8	54	16	1.7	-8.2
FTXG	First Trust Nasdaq Food & Beverage	7.5	60	10	5.6	-4.3
MOO	VanEck Vectors Agribusiness ETF	7.5	54	16	6.4	-3.6
GRES	Index IQ Global Resources	7.3	77	-7	6.1	-3.8
FXG	First Trust Consumer Staples	7.0	64	6	6.6	-3.3
HAP	VanEck Vectors Hard Asset Producers	6.8	50	20	5.9	-4.1
OBOR	KraneShares MSCI One Belt One Road Index	6.6	79	-9	9.3	-0.6

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

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

	2018	2019E	2020E
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 ISE Global Natural Resources Income
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	12.7	%
Divided by: Fwd. P/BV	1.2	x
Less: Expense ratio	70	bp
Equals: ALTAR Score	9.9	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.59	CATEGORY AVERAGE	1.54

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.