First Trust Nasdaq Semiconductor
ALTAR
Score™
5.3% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
23.2x P/Sales
ratio
5.4x
P/BV
ratio
4.7x Div.
yield
1.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust NASDAQ Semiconductor ETF tracks the most liquid US semiconductor companies, weighted according to factors related to value, volatility and growth.

FUND BASICS
Category US Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Sep 20, 2016
Assets (mns) $48
Currency USD
Expense ratio 60 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Multi-Factor
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 29
Wgt avg mkt cap (mns) $53,626
Large cap (>$10bn) 74.3%
Mid cap ($2-10bn) 24.2%
Small cap (<$2bn) 1.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
SKYWORKS SOLUTIONS INC 8.7 %
ENTEGRIS INC 8.3 %
INTEL CORP 8.3 %
MAXIM INTEGRATED PRODUCTS 7.8 %
QORVO INC 7.6 %
CIRRUS LOGIC INC 4.1 %
TERADYNE INC 4.0 %
LAM RESEARCH CORP 4.0 %
KLA-TENCOR CORPORATION 3.8 %
TEXAS INSTRUMENTS INC 3.8 %
Total 60.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 98.0 %
BERMUDA 1.6 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
61.7% 61.7% -- -- 24.4%

Market Correlations
versus... Beta R-squared
S&P500 1.51 56%
MSCI EAFE 1.44 42%
MSCI Emg. Mkts. 1.10 42%

Technical Indicators
Recent close $43.23
30d moving avg. $41.48
Annualized volatility 24.4%
Short interest (ETF) 0.2%
Relative strength (RSI) 77

Liquidity measures
Avg. volume (thou.) 18
Turnover 1.6%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $11,831

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FTXL Expense: 60 bp ALTAR Score™: 5.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FTXL
Ticker Fund
Name
Overlap1
vs FTXL
(%)
Expense
ratio
(bp)
Savings
vs FTXL
(bp)
ALTAR
Score™
(%)
ALTAR
vs FTXL
(%)
SOXX iShares PHLX SOX Semiconductor 59.4 46 14 5.4 +0.2
SMH VanEck Vectors Semiconductors 49.7 35 25 5.7 +0.5
XSD SPDR S&P Semiconductors 47.9 35 25 4.1 -1.1
PSI Invesco Dynamic Semiconductors 45.5 58 2 5.3 +0.1
QTEC First Trust NASDAQ 100 Tech 33.4 57 3 5.2 -0.1
JHMT John Hancock Multifactor Technology 31.1 40 20 5.5 +0.2
XNTK SPDR NYSE Technology 24.8 35 25 4.8 -0.5
TDIV First Trust NASDAQ Technology Dividend 24.0 50 10 6.2 +0.9
RYT Invesco S&P Equal Weight Technology 23.0 40 20 6.0 +0.8
QTUM Defiance Quantum 22.1 40 20 5.5 +0.2
BUL Pacer US Cash Cows Growth 22.0 60 0 6.6 +1.4
PTF Invesco DWA Technology Momentum 21.5 60 0 2.1 -3.2
FXL First Trust Technology Alphadex 21.3 63 -3 5.2 -0.1
TDV ProShares S&P Technology Dividend Aristocrats 21.0 45 15 5.0 -0.3
DRIV Global X Autonomous & Electric Vehicles 19.0 68 -8 7.0 +1.8
IYW iShares US Technology 18.5 42 18 4.7 -0.6
SPHB Invesco S&P 500 High Beta 17.7 25 35 6.5 +1.2
SLT Salt TruBeta High Exposure 17.7 29 31 6.8 +1.6
LVHB Elkhorn Lunt Low Vol/High Beta Tactical 17.6 52 8 6.2 +0.9
PEXL Pacer US Export Leaders 17.6 60 0 6.1 +0.8

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 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
  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 Nasdaq Semiconductor
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 23.3 %
Divided by: Fwd. P/BV 4.0 x
Less: Expense ratio 60 bp
Equals: ALTAR Score 5.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 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.