First Trust Energy AlphaDEX Fund
ALTAR
Score™		 13.5% info Recommen-
dation		 SPECULATIVE
2025E    2026E
P/E
ratio		 11.9x P/Sales
ratio		 1.3x
P/BV
ratio		 1.4x Div.
yield		 2.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Energy AlphaDEX Fund seeks investment results that correspond generally to the StrataQuant Energy AlphaDEX Index.

FUND BASICS
Category US Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date May 08, 2007
Assets (mns) $266
Currency USD
Expense ratio 62 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 40
Wgt avg mkt cap (mns) $48,498
Large cap (>$10bn) 62.7%
Mid cap ($2-10bn) 31.3%
Small cap (<$2bn) 6.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
COTERRA ENERGY INC. 5.2 %
PERMIAN RESOURCES CORPORATION CLAS 5.2 %
DIAMONDBACK ENERGY INC 4.9 %
DEVON ENERGY CORPORATION 4.9 %
MATADOR RESOURCES CO 4.4 %
EOG RESOURCES, INC. 4.4 %
CIVITAS SOLUTIONS INC 3.9 %
NATIONAL OILWELL VARCO INC 3.9 %
HALLIBURTON CO 3.8 %
SCHLUMBERGER LTD 3.7 %
Total 44.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.1 %
SWITZERLAND 2.6 %









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.
2.7% 2.7% 18.3% 4.1% 0.6%

Market Correlations
versus... Beta R-squared
S&P500 1.10 45%
MSCI EAFE 0.98 25%
MSCI Emg. Mkts. 0.93 26%

Technical Indicators
Recent close $16.87
30d moving avg. $16.65
Annualized volatility 19.5%
Short interest (ETF) 0.3%
Short interest (Underlying) 4.2%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 315
Turnover 2.0%
Bid/Ask (% of price) 0.06%
ADV underlying (mns) $8,065

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 701 potential alternatives to the First Trust Energy AlphaDEX Fund ETF based on the alternatives' overlap in portfolio holdings with FXN. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FXN Expense: 62 bp ALTAR Score™: 13.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FXN
Ticker Fund
Name		 Overlap1
vs FXN
(%)		 Expense
ratio
(bp)		 Savings
vs FXN
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs FXN
(%)
FTXN First Trust Nasdaq Oil & Gas ETF 60.5 60 2 11.2 -2.3
RSPG Invesco S&P 500 Equal Weight Energy ETF 53.3 40 22 10.1 -3.4
XOP State Street SPDR S&P Oil & Gas Exploration & Production ETF 46.7 35 27 14.3 +0.8
FCG First Trust Natural Gas ETF 46.2 60 2 18.0 +4.5
IYE iShares U.S. Energy ETF 45.4 40 22 8.1 -5.4
FENY Fidelity MSCI Energy Index ETF 41.9 8 54 8.4 -5.2
IEO iShares U.S. Oil & Gas Exploration & Production ETF 41.5 40 22 12.6 -0.9
VDE Vanguard Energy ETF 41.3 9 53 8.3 -5.2
LNGX Global X U.S. Natural Gas ETF 40.7 45 17 12.4 -1.1
XLE The Energy Select Sector SPDR Fund 40.1 8 54 8.3 -5.2
GXPE Global X PureCap MSCI Energy ETF 38.6 25 37 8.1 -5.5
DRLL Strive U.S. Energy ETF 36.9 41 21 9.6 -4.0
PXE Invesco Energy Exploration & Production ETF 35.7 60 2 16.0 +2.5
IGE iShares North American Natural Resources ETF 32.7 41 21 6.7 -6.9
PXI Invesco Dorsey Wright Energy Momentum ETF 32.4 60 2 6.3 -7.3
IXC iShares Global Energy ETF 30.7 44 18 9.3 -4.2
EQRR ProShares Equities for Rising Rates ETF 22.7 35 27 6.7 -6.8
NANR SPDR S&P North American Natural Resources ETF 21.6 35 27 7.0 -6.5
NVIR Horizon Kinetics Energy and Remediation ETF 21.3 85 -23 6.1 -7.4
EIPX FT Energy Income Partners Strategy ETF 21.3 95 -33 7.4 -6.1
TEXN iShares Texas Equity ETF 20.8 20 42 5.6 -8.0
AVIE Avantis  Inflation Focused Equity ETF 19.2 25 37 6.4 -7.1
FTIF First Trust Bloomberg Inflation Sensitive Equity ETF 19.0 60 2 7.0 -6.6
VFLO VictoryShares Free Cash Flow ETF 18.4 39 23 8.7 -4.8
NBCT Neuberger Berman Carbon Transition Infrastructure ETF 18.2 55 7 6.1 -7.5
FTDS First Trust Dividend Strength ETF 16.9 70 -8 7.4 -6.1
LVDS JPMorgan Fundamental Data Science Large Value ETF 16.9 49 13 5.8 -7.7
EIPI FT Energy Income Partners Enhanced Income ETF 16.8 110 -48 6.4 -7.1
USCF Themes US Cash Flow Champions ETF 16.7 29 33 7.7 -5.8
PXJ Invesco Oil & Gas Services ETF 16.3 63 -1 3.8 -9.7
XES State Street SPDR S&P Oil & Gas Equipment & Services ETF 16.3 35 27 1.8 -11.7
IEZ iShares U.S. Oil Equipment & Services ETF 16.3 40 22 3.4 -10.1
SCHD Schwab US Dividend Equity ETF 15.7 6 56 9.1 -4.5
QQWZ Pacer Cash COWZ 100-Nasdaq100 Rotator ETF 15.3 49 13 2.9 -10.6
COWZ Pacer US Cash Cows 100 ETF 15.2 49 13 7.5 -6.0
LGCF Themes US Cash Flow Champions ETF 15.0 30 32 7.3 -6.3
TXS Texas Capital Texas Equity Index ETF 14.5 49 13 5.3 -8.2
HAP VanEck Natural Resources ETF 14.4 50 12 8.0 -5.5
TPHE Timothy Plan High Dividend Stock Enhanced ETF 14.0 54 8 6.5 -7.0
FDL First Trust Morningstar Dividend Leaders Index Fund 13.7 45 17 9.8 -3.7
OIH VanEck Oil Services ETF 13.7 35 27 3.0 -10.5
SPVU Invesco S&P 500 Enhanced Value ETF 13.6 13 49 8.9 -4.6
TPHD Timothy Plan High Dividend Stock ETF 13.1 52 10 6.5 -7.0
SMRI Bushido Capital US Equity ETF 12.9 71 -9 8.8 -4.7
HDV iShares Core High Dividend ETF 12.8 8 54 6.6 -6.9
PWV Invesco Large Cap Value ETF 12.8 55 7 6.7 -6.8
FTA First Trust Large Cap Value AlphaDEX Fund 12.7 59 3 7.9 -5.6
DGLO First Trust RBA Deglobalization ETF 12.5 70 -8 5.9 -7.6
ZIG Acquirers Fund 12.5 84 -22 18.4 +4.9
DFLV Dimensional US Large Cap Value ETF 12.4 22 40 6.6 -7.0
MAGA Point Bridge America First ETF 12.1 72 -10 5.8 -7.8
SURE AdvisorShares Insiders Advantage ETF 11.9 90 -28 8.5 -5.1
COWS Amplify Cash Flow Dividend Leaders ETF 11.7 0 62 10.5 -3.0
FTWO Strive FAANG 2.0 ETF 11.4 49 13 3.8 -9.8
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF 11.3 35 27 7.3 -6.3
CDC VictoryShares US EQ Income Enhanced Volatility Wtd ETF 11.2 38 24 7.2 -6.3
GNR SPDR S&P Global Natural Resources ETF 11.2 40 22 9.3 -4.2
DIVN Horizon Dividend Income ETF 11.2 70 -8 6.9 -6.6
AVMV Avantis U.S. Mid Cap Value ETF 11.1 20 42 7.7 -5.9
RDIV Invesco S&P Ultra Dividend Revenue ETF 10.8 39 23 10.8 -2.7
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 10.6 46 16 8.6 -5.0
SHRY First Trust Bloomberg Shareholder Yield ETF 10.5 60 2 9.0 -4.5
AVLV Avantis U.S. Large Cap Value ETF 10.3 15 47 6.7 -6.8
EQIN Columbia US Equity Income ETF 10.3 35 27 6.2 -7.3
DFUV Dimensional US Marketwide Value ETF 10.0 22 40 6.5 -7.0
BESF Bastion Energy ETF 9.9 80 -18 5.6 -7.9
DURA VanEck Durable High Dividend ETF 9.8 29 33 6.8 -6.7
FILL iShares MSCI Global Energy Producers ETF 9.5 39 23 1.1 -12.5
IMCV iShares Morningstar Mid-Cap Value ETF 9.5 6 56 7.3 -6.2
ONEY State Street SPDR Russell 1000 Yield Focus ETF 9.5 20 42 9.3 -4.2
SYLD Cambria Shareholder Yield ETF 9.4 59 3 11.2 -2.3
STXV Strive 1000 Value ETF 9.3 18 44 7.3 -6.3
SDOG ALPS Sector Dividend Dogs ETF 9.2 36 26 8.8 -4.7
AMZA InfraCap MLP ETF 9.2 164 -102 7.6 -5.9
AKAF The Frontier Economic Fund 9.2 20 42 5.7 -7.9
VOE Vanguard Mid-Cap Value ETF 9.2 7 55 7.0 -6.5
SPDV AAM S&P 500 High Dividend Value ETF 9.1 29 33 10.8 -2.8
FLOW Global X U.S. Cash Flow Kings 100 ETF 8.8 25 37 10.9 -2.7
QDIV Global X S&P 500 Quality Dividend ETF 8.8 20 42 8.3 -5.3
PALC Pacer Lunt Large Cap Multi-Factor Alternator ETF 8.7 60 2 3.4 -10.2
ECML Euclidean Fundamental Value ETF 8.6 95 -33 9.0 -4.5
IUS Invesco RAFI Strategic US ETF 8.5 19 43 6.1 -7.5
DIVG Invesco S&P 500 High Dividend Growers ETF 8.5 39 23 7.8 -5.7
FAB First Trust Multi Cap Value AlphaDEX Fund 8.4 67 -5 8.9 -4.6
DHS WisdomTree U.S. High Dividend Fund 8.3 38 24 7.4 -6.1
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 8.2 30 32 9.8 -3.7
USNG Amplify Samsung U.S. Natural Gas Infrastructure ETF 8.2 59 3 4.3 -9.2
FNDX Schwab Fundamental US Large Co. Index ETF 8.1 25 37 6.4 -7.1
DIVL Madison Dividend Value ETF 8.1 65 -3 4.9 -8.7
VYM Vanguard High Dividend Yield Index ETF 8.1 6 56 6.4 -7.2
PTL Inspire 500 ETF 8.1 9 53 4.8 -8.8
VFVA Vanguard U.S. Value Factor ETF 8.0 13 49 9.5 -4.0
SMCF Themes US Small Cap Cash Flow Champions ETF 8.0 29 33 10.6 -2.9
RBLD First Trust Alerian US NextGen Infrastructure ETF 7.9 65 -3 4.4 -9.2
EQAL Invesco Russell 1000 Equal Weight ETF 7.9 20 42 6.5 -7.0
VRAI Virtus Real Asset Income ETF 7.9 55 7 9.9 -3.6
DEW WisdomTree Global High Dividend Fund 7.9 58 4 7.7 -5.9
FDVV Fidelity High Dividend ETF 7.8 15 47 7.0 -6.5
BGIG Bahl & Gaynor Income Growth ETF 7.7 45 17 4.7 -8.8
DLN WisdomTree U.S. LargeCap Dividend Fund 7.7 28 34 5.3 -8.2
FPWR First Trust EIP Power Solutions ETF 7.7 96 -34 4.7 -8.8
SFGV Sequoia Global Value ETF 7.6 23 39 7.6 -5.9
RNIN Bushido Capital US SMID Cap Equity ETF 7.6 70 -8 11.2 -2.3
MDLV Morgan Dempsey Large Cap Value ETF 7.6 58 4 6.6 -6.9
FNDB Schwab Fundamental US Broad Market Index ETF 7.6 25 37 6.4 -7.1
DIVB iShares Core Dividend ETF 7.4 5 57 7.4 -6.2
FEX First Trust Large Cap Core AlphaDEX Fund 7.4 59 3 5.1 -8.4
RPV Invesco S&P 500 Pure Value ETF 7.3 35 27 9.2 -4.3
SPGP Invesco S&P 500 GARP ETF 7.2 34 28 5.7 -7.8
DTD WisdomTree U.S. Total Dividend Fund 7.2 28 34 5.6 -7.9
TPLE Timothy Plan Us Large/Mid Cap Core Enhanced ETF 7.2 58 4 5.0 -8.5
ENFR Alerian Energy Infrastructure ETF 7.2 35 27 5.8 -7.8
EINC VanEck Energy Income ETF 7.2 48 14 5.5 -8.0
MLPX Global X MLP & Energy Infrastructure ETF 7.2 45 17 5.6 -7.9
TPYP Tortoise North American Pipeline Fund 7.2 40 22 5.7 -7.8
USAI Pacer American Energy Independence ETF 7.2 75 -13 4.7 -8.8
UMI USCF Midstream Energy Income Fund ETF 7.2 85 -23 5.5 -8.0
FCTR First Trust Lunt U.S. Factor Rotation ETF 7.2 65 -3 1.8 -11.7
VLU State Street SPDR S&P 1500 Value Tilt ETF 7.0 12 50 6.5 -7.0
TOLZ ProShares DJ Brookfield Global Infrastructure ETF 6.9 46 16 5.4 -8.1
DFVX Dimensional US Large Cap Vector ETF 6.9 22 40 5.4 -8.2
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund 6.8 52 10 5.0 -8.5
IGF iShares Global Infrastructure ETF 6.8 41 21 4.5 -9.1
GII SPDR S&P Global Infrastructure ETF 6.8 40 22 4.5 -9.1
LIVR Intelligent Livermore ETF 6.8 69 -7 3.0 -10.6
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF 6.7 7 55 10.3 -3.3
RWL Invesco S&P 500 Revenue ETF 6.7 39 23 6.0 -7.5
VO Vanguard Mid-Cap ETF 6.7 4 58 5.3 -8.2
DUSA Davis Select U.S. Equity ETF 6.7 61 1 6.5 -7.0
FUNL CornerCap Fundametrics Large-Cap ETF 6.6 50 12 6.4 -7.1
CCNR ALPS CoreCommodity Natural Resources ETF 6.6 39 23 7.6 -5.9
FLDZ RiverNorth Patriot ETF 6.6 75 -13 5.7 -7.8
PRF Invesco FTSE RAFI US 1000 ETF 6.6 39 23 6.0 -7.5
EMLP First Trust North American Energy Infrastructure Fund 6.5 95 -33 5.7 -7.8
VTV Vanguard Value ETF 6.5 4 58 6.1 -7.4
BIBL Inspire 100 ETF 6.5 35 27 4.5 -9.1
DGRW WisdomTree US Quality Dividend Growth Fund 6.5 28 34 4.9 -8.7
IWS iShares Russell Mid-Cap Value ETF 6.4 23 39 6.4 -7.1
FNK First Trust Mid Cap Value AlphaDEX Fund 6.4 70 -8 9.6 -4.0
PRXV Praxis Impact Large Cap Value ETF 6.4 36 26 5.9 -7.6
IVRA Invesco Real Assets ESG ETF 6.3 59 3 6.2 -7.3
SSPY Syntax Stratified LargeCap ETF 6.3 30 32 6.0 -7.5
IVE iShares S&P 500 Value ETF 6.2 18 44 5.5 -8.1
IMCB iShares Morningstar Mid-Cap ETF 6.1 4 58 5.6 -7.9
IUSV iShares Core S&P US Value ETF 6.1 4 58 5.7 -7.8
SPYV State Street SPDR Portfolio S&P 500 Value ETF 6.0 4 58 5.6 -7.9
EBI Longview Advantage ETF 6.0 35 27 5.8 -7.7
WTV WisdomTree US Value Fund of Benef Interest 6.0 12 50 7.7 -5.8
CVY Invesco Zacks Multi-Asset Income ETF 6.0 106 -44 10.5 -3.0
SCHV Schwab U.S. Large-Cap Value ETF 5.9 4 58 6.0 -7.5
AVMC Avantis U.S. Mid Cap Equity ETF 5.9 18 44 6.0 -7.5
GCOW Pacer Global Cash Cows Dividend ETF 5.8 60 2 9.8 -3.8
VOOV Vanguard S&P 500 Value ETF 5.8 7 55 5.6 -7.9
SFLO VictoryShares Small Cap Free Cash Flow ETF 5.8 49 13 9.9 -3.7
IWD iShares Russell 1000 Value ETF 5.8 19 43 5.7 -7.9
VONV Vanguard Russell 1000 Value ETF 5.7 7 55 5.8 -7.7
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 5.7 24 38 7.5 -6.1
MGV Vanguard Mega Cap Value ETF 5.7 7 55 5.8 -7.7
CALF Pacer US Small Cap Cash Cows 100 ETF 5.7 59 3 9.3 -4.3
REVS Columbia Research Enhanced Value ETF 5.7 19 43 7.0 -6.5
EVUS iShares ESG Aware MSCI USA Value ETF 5.7 18 44 5.7 -7.9
DSMC Distillate Small/Mid Cash Flow ETF 5.6 55 7 11.7 -1.8
GVUS Marketbeta Russell 1000 Value Equity ETF 5.6 12 50 5.8 -7.7
IWR iShares Russell Midcap ETF 5.6 19 43 5.5 -8.0
GPT Intelligent Alpha Atlas ETF 5.5 69 -7 4.9 -8.7
DGRO iShares Core Dividend Growth ETF 5.5 8 54 5.9 -7.6
INFL Horizon Kinetics Inflation Beneficiaries ETF 5.5 85 -23 3.2 -10.3
JPUS JPMorgan Diversified Return U.S. Equity ETF 5.5 18 44 7.1 -6.4
LVHD Franklin U.S. Low Volatility High Dividend Index ETF 5.4 27 35 6.8 -6.7
IWX iShares Russell Top 200 Value ETF 5.4 20 42 5.3 -8.2
GVIP Goldman Sachs Hedge Industry VIP ETF 5.4 45 17 2.7 -10.8
CSTK Invesco Comstock Contrarian Equity ETF 5.4 35 27 6.0 -7.5
DVY iShares Select Dividend ETF 5.3 38 24 8.4 -5.1
JHDV John Hancock U.S. High Dividend ETF 5.3 34 28 6.0 -7.5
GRPM Invesco S&P MidCap 400 GARP ETF 5.3 35 27 7.0 -6.6
ILCV iShares Morningstar Value ETF 5.2 4 58 5.6 -7.9
CBSE Clough Select Equity ETF 5.2 85 -23 0.9 -12.6
CRAK VanEck Oil Refiners ETF 5.2 61 1 11.1 -2.4
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 5.2 19 43 5.4 -8.1
NETZ TCW Transform Systems ETF 5.2 75 -13 2.1 -11.5
ONEO State Street SPDR Russell 1000 Momentum Focus ETF 5.1 20 42 5.8 -7.7
LYLD Cambria Large Cap Shareholder Yield ETF 5.1 59 3 8.7 -4.8
TCAI Tortoise AI Infrastructure ETF 5.0 65 -3 2.0 -11.6
HLAL Wahed FTSE USA Shariah ETF 5.0 50 12 3.9 -9.6
CRTC Xtrackers US National Critical Technologies ETF 5.0 35 27 4.1 -9.4
BMVP Invesco Bloomberg MVP Multi-factor ETF 4.9 29 33 6.5 -7.0
BBLU EA Bridgeway Blue Chip ETF EA Bridgeway Blue Chip ETF 4.9 15 47 4.4 -9.1
WOMN Impact Shares YWCA Women's Empowerment ETF 4.9 75 -13 4.9 -8.7
QUVU Hartford Quality Value ETF 4.9 46 16 6.7 -6.9
ICAP InfraCap Equity Income Fund ETF 4.9 171 -109 3.9 -9.7
GOP Unusual Whales Subversive Republican Trading ETF 4.9 50 12 4.7 -8.9
RFV Invesco S&P Midcap 400 Pure Value ETF 4.8 35 27 12.0 -1.6
YLDE ClearBridge Dividend Strategy ESG ETF 4.8 60 2 5.1 -8.4
OSCV Opus Small Cap Value ETF 4.8 79 -17 6.4 -7.2
AIVL WisdomTree U.S. AI Enhanced Value Fund 4.8 38 24 5.7 -7.8
SMAP Amplify Small-Mid Cap Equity ETF 4.8 60 2 4.9 -8.6
AVUS Avantis U.S. Equity ETF 4.8 15 47 5.0 -8.5
FBCV Fidelity Blue Chip Value ETF 4.8 59 3 6.5 -7.0
XOEF iShares S&P 500 ex S&P 100 ETF 4.8 20 42 4.9 -8.6
UDI USCF Dividend Income Fund 4.7 65 -3 7.3 -6.3
DIVD Altrius Global Dividend ETF Altrius Global Divid ETF 4.7 49 13 8.3 -5.3
FELV Fidelity Enhanced Large Cap Value ETF 4.7 18 44 6.0 -7.6
TBG TBG Dividend Focus ETF 4.6 59 3 7.3 -6.2
WBIY WBI Power Factor High Dividend ETF 4.6 100 -38 12.5 -1.0
RSP Invesco S&P 500 Equal Weight ETF 4.6 20 42 6.0 -7.5
QLV FlexShares US Quality Low Volatility Index Fund 4.5 22 40 5.1 -8.4
MBOX Freedom Day Dividend ETF 4.5 39 23 6.9 -6.6
IJJ iShares S&P Mid-Cap 400 Value ETF 4.5 18 44 7.8 -5.7
JAVA JPMorgan Active Value ETF 4.4 44 18 5.6 -8.0
FTGS First Trust Growth Strength ETF 4.4 60 2 3.7 -9.9
DON WisdomTree U.S. MidCap Dividend Fund 4.4 38 24 8.3 -5.2
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 4.4 9 53 5.5 -8.0
NACP Impact Shares NAACP Minority Empowerment ETF 4.4 49 13 4.0 -9.5
MDYV State Street SPDR S&P 400 Mid Cap Value ETF 4.3 15 47 7.8 -5.7
VSDA VictoryShares Dividend Accelerator ETF 4.3 35 27 6.7 -6.8
VNSE Natixis Vaughan Nelson Select ETF 4.3 80 -18 4.1 -9.4
LOUP Innovator Deepwater Frontier Tech ETF 4.3 70 -8 0.6 -12.9
SPXT ProShares S&P 500 Ex-Technology ETF 4.3 9 53 4.9 -8.6
DVLU First Trust Dorsey Wright Momentum & Value ETF 4.3 60 2 5.2 -8.3
XMAG Defiance Large Cap ex-Mag 7 ETF 4.2 35 27 4.5 -9.0
EUSA iShares MSCI USA Equal Weighted ETF 4.2 9 53 5.6 -7.9
SIZE iShares MSCI USA Size Factor ETF 4.2 15 47 5.6 -8.0
DFSV Dimensional US Small Cap Value ETF 4.2 31 31 9.4 -4.1
DIVE Dana Concentrated Dividend ETF 4.2 65 -3 6.8 -6.7
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 4.2 29 33 5.7 -7.9
GDIV Harbor Dividend Growth Leaders ETF 4.2 50 12 4.5 -9.0
ABEQ Absolute Select Value ETF 4.2 85 -23 4.4 -9.2
SPMV Invesco S&P 500 Minimum Variance ETF 4.1 10 52 5.0 -8.5
NUDV Nuveen ESG Dividend ETF 4.1 26 36 6.8 -6.7
FMDE Fidelity Enhanced Mid Cap ETF 4.1 23 39 5.2 -8.3
FLV American Century Focused Large Cap Value ETF 4.1 42 20 6.1 -7.4
SMOT VanEck Morningstar SMID Moat ETF 4.1 49 13 5.9 -7.6
ROE Astoria US Quality Kings ETF 4.0 49 13 5.6 -7.9
CFA VictoryShares US 500 Volatility Wtd ETF 4.0 35 27 5.4 -8.2
CFO VictoryShares US 500 Enhanced Volatility Wtd ETF 4.0 40 22 5.3 -8.2
DXUV Dimensional US Vector Equity ETF 4.0 28 34 5.3 -8.2
DIVZ TrueShares Low Volatility Equity Income ETF 4.0 65 -3 6.0 -7.6
GINX SGI Enhanced Global Income ETF 4.0 98 -36 7.1 -6.5
JHMM John Hancock Multifactor Mid Cap ETF 4.0 42 20 5.5 -8.0
NDIV Amplify Natural Resources Dividend Income ETF 4.0 59 3 14.5 +1.0
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 4.0 60 2 3.6 -9.9
DVND Touchstone Dividend Select ETF 3.9 67 -5 5.0 -8.6
SDY State Street SPDR S&P Dividend ETF 3.9 35 27 6.3 -7.2
DSPY Tema S&P 500 Historical Weight ETF 3.9 18 44 4.5 -9.0
DFAC Dimensional U.S. Core Equity 2 ETF 3.9 17 45 4.8 -8.8
YOKE Yoke Core ETF 3.9 42 20 4.1 -9.4
QVAL Alpha Architect US Quantitative Value ETF 3.8 39 23 8.8 -4.7
DIVY Sound Equity Dividend Income ETF 3.8 45 17 9.2 -4.3
QUS State Street SPDR MSCI USA StrategicFactors ETF 3.8 15 47 5.0 -8.5
ESMV iShares ESG MSCI USA Min Vol Factor ETF 3.8 18 44 5.0 -8.5
INRO iShares U.S. Industry Rotation Active ETF 3.8 42 20 4.0 -9.6
EZM WisdomTree U.S. MidCap Fund 3.8 38 24 7.7 -5.8
JPEF JPMorgan Equity Focus ETF 3.8 50 12 3.9 -9.7
DCOR Dimensional US Core Equity 1 ETF 3.8 14 48 4.7 -8.9
RFDA RiverFront Dynamic US Dividend Advantage ETF 3.8 52 10 5.6 -7.9
DWLD Davis Select Worldwide ETF 3.7 63 -1 6.3 -7.3
SNPD Xtrackers S&P ESG Dividend Aristocrats ETF 3.7 15 47 7.2 -6.3
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF 3.7 49 13 4.0 -9.5
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 3.7 35 27 5.1 -8.4
FLQM Franklin U.S. Mid Cap Multifactor Index ETF 3.7 30 32 7.1 -6.4
ERTH Invesco MSCI Sustainable Future ETF 3.7 62 0 3.1 -10.4
TAN Invesco Solar ETF 3.7 67 -5 5.1 -8.4
ACES ALPS Clean Energy ETF 3.7 55 7 -2.5 -16.0
QCLN First Trust Nasdaq Clean Edge Green Energy Index Fund 3.7 58 4 -1.9 -15.4
CTEC Global X CleanTech ETF 3.7 50 12 0.7 -12.8
FRNW Fidelity Clean Energy ETF 3.7 39 23 2.1 -11.4
VCLN Virtus Duff & Phelps Clean Energy ETF 3.7 59 3 3.7 -9.8
ETEC iShares Breakthrough Environmental Solutions ETF 3.7 47 15 3.1 -10.4
ICLN iShares Global Clean Energy ETF 3.7 41 21 2.9 -10.6
DEUS Xtrackers Russell US Multifactor ETF 3.7 17 45 6.1 -7.4
FNX First Trust Mid Cap Core AlphaDEX Fund 3.7 60 2 6.1 -7.4
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 3.6 60 2 4.5 -9.0
KVLE KraneShares Value Line Dynamic Dividend Equity Index ETF 3.6 56 6 5.9 -7.6
CNRG State Street SPDR S&P Kensho Clean Power ETF 3.6 45 17 1.5 -12.0
FEGE First Eagle Global Equity ETF 3.6 79 -17 5.7 -7.8
TOPC iShares S&P 500 3% Capped ETF 3.6 15 47 4.4 -9.1
INCE Franklin Income Equity Focus ETF 3.6 29 33 5.1 -8.4
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.6 47 15 5.7 -7.8
HGRO Hedgeye Quality Growth ETF 3.5 70 -8 3.0 -10.5
USMC Principal U.S. Mega-Cap ETF 3.5 12 50 3.9 -9.6
EPS WisdomTree U.S. LargeCap Fund 3.5 8 54 5.0 -8.5
JGLO JPMorgan Global Select Equity ETF 3.5 33 29 4.3 -9.2
DFAT Dimensional U.S. Targeted Value ETF 3.5 28 34 9.1 -4.4
VLUE iShares MSCI USA Value Factor ETF 3.5 15 47 8.1 -5.4
PKW Invesco Buyback Achievers ETF 3.5 62 0 7.0 -6.5
USMV iShares MSCI USA Min Vol Factor ETF 3.5 15 47 5.1 -8.5
SMOG VanEck Low Carbon Energy ETF 3.5 61 1 1.5 -12.1
VFMV Vanguard U.S. Minimum Volatility ETF 3.4 13 49 5.3 -8.2
PFM Invesco Dividend Achievers ETF 3.4 53 9 4.7 -8.8
OCEN IQ Clean Oceans ETF 3.4 45 17 5.0 -8.5
SPXN ProShares S&P 500 Ex-Financials ETF 3.4 9 53 4.1 -9.4
NULV Nuveen ESG Large-Cap Value ETF 3.4 26 36 5.6 -7.9
YALL God Bless America ETF 3.3 65 -3 4.0 -9.5
JPSV JPMorgan Active Small Cap Value ETF 3.3 74 -12 7.8 -5.7
JHML John Hancock Multifactor Large Cap ETF 3.3 29 33 4.7 -8.8
AUSF Global X Adaptive U.S. Factor ETF 3.3 27 35 8.0 -5.5
STOX Horizon Core Equity ETF 3.3 70 -8 3.6 -10.0
SFTY Horizon Managed Risk ETF 3.3 77 -15 3.5 -10.0
KONG Formidable Fortress ETF 3.3 89 -27 5.0 -8.5
SOLR Guinness Atkinson Funds SmartETFs Sustainable Energy II Fund 3.3 79 -17 4.5 -9.0
QVML Invesco S&P 500 QVM Multi-factor ETF 3.3 11 51 4.4 -9.1
DFAU Dimensional US Core Equity Market ETF 3.3 12 50 4.4 -9.2
KLMN Invesco MSCI North America Climate ETF 3.3 9 53 4.3 -9.2
SNPE Xtrackers S&P 500 ESG ETF 3.3 10 52 4.3 -9.2
BLES Inspire Global Hope ETF 3.3 61 1 6.2 -7.4
PY Principal Value ETF 3.2 15 47 6.5 -7.0
CGDV Capital Group Dividend Value ETF 3.2 33 29 4.0 -9.5
ESGU iShares ESG Aware MSCI USA ETF 3.2 15 47 4.2 -9.4
DSTL Distillate US Fundamental Stability & Value ETF 3.2 39 23 7.4 -6.1
SUSA iShares MSCI USA ESG Select ETF 3.2 25 37 4.0 -9.6
GVLU Gotham 1000 Value ETF 3.2 50 12 8.4 -5.2
PEY Invesco High Yield Equity Dividend Achievers ETF 3.1 52 10 9.1 -4.4
SPXV ProShares S&P 500 Ex-Health Care ETF 3.1 9 53 4.0 -9.5
LGLV State Street SPDR US Large Cap Low Volatility Index ETF 3.1 12 50 5.4 -8.1
IVOV Vanguard S&P Mid-Cap 400 Value ETF 3.1 10 52 7.9 -5.6
DDIV First Trust Dorsey Wright Momentum & Dividend ETF 3.1 60 2 5.1 -8.4
TMFX Motley Fool Next Index ETF 3.1 50 12 2.7 -10.8
IFRA iShares U.S. Infrastructure ETF 3.1 30 32 5.9 -7.6
KNGZ First Trust S&P 500 Diversified Dividend Aristocrats ETF 3.1 50 12 7.8 -5.7
RAUS RACWI US ETF 3.0 15 47 4.2 -9.3
HDUS Hartford Disciplined US Equity ETF 3.0 19 43 5.0 -8.5
CCSO Carbon Collective Climate Solutions US Equity ETF 3.0 35 27 1.1 -12.4
FCFY First Trust S&P 500 Diversified Free Cash Flow ETF 3.0 60 2 8.8 -4.7
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 3.0 25 37 4.7 -8.8
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 3.0 20 42 4.4 -9.2
QUAL iShares MSCI USA Quality Factor ETF 3.0 15 47 4.4 -9.1
SNPV Xtrackers S&P 500 Value ESG ETF 3.0 15 47 6.1 -7.4
MIDE Xtrackers S&P MidCap 400 ESG ETF 3.0 15 47 7.1 -6.4
SPDG State Street SPDR Portfolio S&P Sector Neutral Dividend ETF 3.0 5 57 7.3 -6.2
RAYD Rayliant Quantitative Developed Market Equity ETF 2.9 80 -18 4.5 -9.0
FTCE First Trust New Constructs Core Earnings Leaders ETF 2.9 60 2 4.5 -9.0
PBUS Invesco MSCI USA ETF 2.9 4 58 4.2 -9.3
USMF WisdomTree U.S. Multifactor Fund 2.9 28 34 6.4 -7.1
XSD State Street SPDR S&P Semiconductor ETF 2.9 35 27 3.4 -10.1
FMTM MarketDesk Focused U.S. Momentum ETF 2.9 45 17 3.4 -10.1
SDG iShares MSCI Global Sustainable Development Goals ETF 2.9 49 13 4.7 -8.8
STRV Strive 500 ETF 2.9 5 57 4.1 -9.4
GXLC Global X U.S. 500 ETF 2.9 2 60 4.2 -9.4
IVV iShares Core S&P 500 ETF 2.9 3 59 4.3 -9.3
EQWL Invesco S&P 100 Equal Weight ETF 2.9 25 37 5.5 -8.0
CHRI Global X S&P 500 Christian Values ETF 2.9 29 33 4.0 -9.6
IWB iShares Russell 1000 ETF 2.9 15 47 4.2 -9.4
CATH Global X S&P 500 Catholic Values Custom ETF 2.9 29 33 4.0 -9.5
NOBL ProShares S&P 500 Dividend Aristocrats ETF 2.9 35 27 5.7 -7.8
TOV JLens 500 Jewish Advocacy U.S. ETF 2.9 18 44 4.0 -9.5
IYY iShares Dow Jones U.S. ETF 2.9 20 42 4.1 -9.4
ILCB iShares Morningstar U.S. Equity ETF 2.9 3 59 4.2 -9.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 2.9 2 60 4.3 -9.2
BKLC BNY Mellon US Large Cap Core Equity ETF 2.9 0 62 4.3 -9.3
VONE Vanguard Russell 1000 ETF 2.9 7 55 4.3 -9.2
VOO Vanguard S&P 500 ETF 2.9 3 59 4.3 -9.2
SHE State Street SPDR MSCI USA Gender Diversity ETF 2.9 20 42 4.6 -8.9
VV Vanguard Large-Cap ETF 2.9 4 58 4.2 -9.4
SPY SPDR S&P 500 ETF 2.9 9 53 4.2 -9.3
VOTE TCW Transform 500 ETF 2.9 5 57 4.2 -9.3
FDLO Fidelity Low Volatility Factor ETF 2.9 15 47 4.8 -8.7
SPYM State Street SPDR Portfolio S&P 500 ETF 2.9 2 60 4.3 -9.2
SCHX Schwab U.S. Large-Cap ETF 2.9 3 59 4.3 -9.2
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 2.8 11 51 4.2 -9.3
RECS Columbia Research Enhanced Core ETF 2.8 15 47 5.0 -8.5
DFUS Dimensional U.S. Equity ETF 2.8 9 53 4.1 -9.4
ADME Aptus Drawdown Managed Equity ETF 2.8 79 -17 3.3 -10.2
SCHK Schwab 1000 Index ETF 2.8 5 57 4.3 -9.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 2.8 7 55 4.2 -9.3
IWV iShares Russell 3000 ETF 2.8 20 42 4.1 -9.5
USCL iShares Climate Conscious & Transition MSCI USA ETF 2.8 8 54 4.3 -9.2
LCDS JPMorgan Fundamental Data Science Large Core ETF 2.8 30 32 4.1 -9.5
JQUA JPMorgan U.S. Quality Factor ETF 2.8 12 50 5.1 -8.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 2.8 3 59 4.2 -9.3
SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market 2.8 3 59 4.4 -9.1
VTI Vanguard Total Stock Market ETF 2.8 3 59 4.2 -9.3
OEI Optimized Equity Income ETF 2.8 75 -13 3.2 -10.3
SIXA ETC 6 Meridian Mega Cap Equity ETF 2.8 80 -18 6.2 -7.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 2.7 45 17 3.6 -9.9
ACVF American Conservative Values ETF 2.7 75 -13 3.7 -9.9
VTHR Vanguard Russell 3000 ETF 2.7 7 55 4.2 -9.3
SPHB Invesco S&P 500 High Beta ETF 2.7 25 37 4.1 -9.4
RVRB Reverb ETF 2.7 30 32 4.0 -9.6
SCHB Schwab U.S. Broad Market ETF 2.7 3 59 4.3 -9.2
FDWM Fidelity Women's Leadership ETF 2.7 59 3 4.2 -9.4
USCA Xtrackers MSCI USA Climate Action Equity ETF 2.7 7 55 4.4 -9.1
VIG Vanguard Dividend Appreciation ETF 2.7 5 57 4.9 -8.6
SEIV SEI Enhanced U.S. Large Cap Value Factor ETF 2.7 15 47 7.7 -5.8
KRMA Global X Conscious Companies ETF 2.7 43 19 5.2 -8.3
JVAL JPMorgan U.S. Value Factor ETF 2.7 12 50 7.0 -6.5
QQQJ Invesco NASDAQ Next Gen 100 ETF 2.7 15 47 4.0 -9.6
TOPT iShares Top 20 U.S. Stocks ETF 2.7 20 42 3.3 -10.3
FVAL Fidelity Value Factor ETF 2.7 15 47 5.9 -7.6
BFOR ALPS Barron's 400 ETF 2.7 65 -3 5.0 -8.5
RWK Invesco S&P MidCap 400 Revenue ETF 2.7 39 23 8.3 -5.2
GQI Natixis Gateway Quality Income ETF 2.6 34 28 4.2 -9.3
ISCV iShares Morningstar Small Cap Value ETF 2.6 6 56 7.7 -5.8
AFLG First Trust Active Factor Large Cap ETF 2.6 55 7 5.4 -8.1
WCEO Hypatia Women CEO ETF 2.6 85 -23 2.9 -10.6
AIEQ AI Powered Equity ETF 2.6 75 -13 4.0 -9.5
IJH iShares Core S&P Mid-Cap ETF 2.6 5 57 6.4 -7.1
BRIF FIS Bright Portfolios Focused Equity ETF 2.6 65 -3 3.9 -9.6
MDY SPDR S&P Midcap 400 ETF Trust 2.6 24 38 6.2 -7.3
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 2.6 32 30 4.3 -9.2
HAPI Harbor Human Capital Factor US Large Cap ETF 2.6 36 26 4.2 -9.3
DGT State Street SPDR Global Dow ETF 2.6 50 12 6.0 -7.5
FDRR Fidelity Dividend ETF for Rising Rates 2.5 15 47 6.1 -7.4
PBW Invesco WilderHill Clean Energy ETF 2.5 66 -4 -3.0 -16.5
FDMO Fidelity Momentum Factor ETF 2.5 15 47 3.0 -10.5
IVOO Vanguard S&P Mid-Cap 400 ETF 2.5 7 55 6.4 -7.1
FELC Fidelity Enhanced Large Cap Core ETF 2.5 18 44 4.5 -9.0
BGDV Bahl & Gaynor Dividend ETF 2.5 45 17 4.0 -9.5
FFSM Fidelity Fundamental Small-Mid Cap ETF 2.5 43 19 5.3 -8.2
FPAG FPA Global Equity ETF 2.5 49 13 5.0 -8.5
SPMD State Street SPDR Portfolio S&P 400 Mid Cap ETF 2.5 3 59 6.4 -7.1
NULC Nuveen ESG Large-Cap ETF 2.4 21 41 4.5 -9.1
FQAL Fidelity Quality Factor ETF 2.4 15 47 4.8 -8.7
VFMF Vanguard U.S. Multifactor ETF 2.4 18 44 6.8 -6.7
DJD Invesco Dow Jones Industrial Average Dividend ETF 2.4 7 55 6.9 -6.7
AGQI First Trust Active Global Quality Income ETF 2.4 85 -23 4.6 -8.9
EDOW First Trust Dow 30 Equal Weight ETF 2.4 50 12 4.6 -8.9
BDIV AAM Brentview Dividend Growth ETF 2.4 49 13 3.8 -9.8
JMOM JPMorgan U.S. Momentum Factor ETF 2.4 12 50 3.9 -9.6
LCTU BlackRock U.S. Carbon Transition Readiness ETF 2.4 14 48 4.2 -9.3
VSLU Applied Finance Valuation Large Cap ETF 2.4 49 13 4.7 -8.8
IWP iShares Russell Mid-Cap Growth ETF 2.4 23 39 2.6 -10.9
IQRA IQ CBRE Real Assets ETF 2.4 65 -3 5.5 -8.1
SGLC SGI U.S. Large Cap Core ETF 2.4 85 -23 3.3 -10.2
QWLD SPDR MSCI World StrategicFactors ETF 2.4 30 32 5.2 -8.4
LRGF iShares U.S. Equity Factor ETF 2.4 8 54 4.7 -8.8
GEW Cambria Global EW ETF 2.3 29 33 5.4 -8.1
VOT Vanguard Mid-Cap Growth ETF 2.3 7 55 3.0 -10.5
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF 2.3 15 47 6.4 -7.1
ULVM VictoryShares US Value Momentum ETF 2.3 20 42 6.6 -6.9
SAMM Strategas Macro Momentum ETF 2.3 66 -4 1.9 -11.7
SPVM Invesco S&P 500 Value with Momentum ETF 2.3 39 23 6.7 -6.8
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 2.3 60 2 6.1 -7.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 2.3 9 53 4.6 -8.9
KOCG FIS Knights of Columbus Global Belief ETF 2.3 75 -13 4.4 -9.1
KLMT Invesco MSCI Global Climate 500 ETF 2.3 10 52 5.0 -8.5
VBR Vanguard Small Cap Value ETF 2.3 7 55 8.1 -5.5
BLCR iShares Large Cap Core Active ETF 2.2 36 26 3.1 -10.4
IWL iShares Russell Top 200 ETF 2.2 15 47 3.9 -9.7
TOK iShares MSCI Kokusai ETF 2.2 26 36 4.3 -9.2
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 2.2 75 -13 2.2 -11.3
SMLF iShares U.S. SmallCap Equity Factor ETF 2.2 15 47 5.4 -8.2
EGLE Global X S&P 500 U.S. Revenue Leaders ETF 2.2 19 43 4.8 -8.7
IOO iShares Global 100 ETF 2.2 41 21 3.9 -9.6
OEF iShares S&P 100 ETF 2.2 20 42 3.8 -9.7
XLG Invesco S&P 500 Top 50 ETF 2.2 20 42 3.5 -10.0
CGUS Capital Group Core Equity ETF 2.2 33 29 3.8 -9.7
GSPY Gotham Enhanced 500 ETF 2.2 50 12 4.5 -9.1
RJMG FT Raymond James Multicap Growth Equity ETF 2.2 85 -23 2.3 -11.2
MMSC First Trust Multi-Manager Small Cap Opportunities ETF 2.2 95 -33 -0.4 -14.0
FFLC Fidelity Fundamental Large Cap Core ETF 2.2 38 24 3.9 -9.6
KOKU Xtrackers MSCI Kokusai Equity ETF 2.2 9 53 4.5 -9.0
DAK Dakota Active Equity ETF 2.2 43 19 3.7 -9.8
VB Vanguard Small-Cap ETF 2.2 5 57 5.4 -8.1
CLNR IQ Cleaner Transport ETF 2.2 45 17 4.9 -8.6
MGC Vanguard Mega Cap ETF 2.2 7 55 4.0 -9.6
SFYX SoFi Next 500 ETF 2.2 0 62 5.1 -8.4
SCHM Schwab U.S. Mid-Cap ETF 2.1 4 58 6.2 -7.4
DUHP Dimensional US High Profitability ETF 2.1 21 41 5.0 -8.5
APUE ActivePassive U.S. Equity ETF 2.1 45 17 4.0 -9.6
URTH iShares MSCI World ETF 2.1 24 38 4.4 -9.1
TAX Cambria Tax Aware ETF 2.1 49 13 5.1 -8.4
MCDS JPMorgan Fundamental Data Science Mid Core ETF 2.1 35 27 5.0 -8.5
HWSM Hotchkis & Wiley SMID Cap Diversified Value ETF 2.1 55 7 9.3 -4.2
ESGG FlexShares STOXX Global ESG Select Index Fund 2.1 42 20 4.7 -8.8
IMCG iShares Morningstar Mid-Cap Growth ETF 2.1 6 56 3.6 -9.9
GURU Global X Guru Index ETF 2.1 75 -13 2.4 -11.1
OALC OneAscent Large Cap Core ETF 2.1 86 -24 3.4 -10.1
ABIG Argent Large Cap ETF 2.1 49 13 4.1 -9.4
AFOS ARS Focused Opportunities Strategy ETF 2.1 45 17 2.4 -11.1
QNXT iShares Nasdaq-100 ex Top 30 ETF 2.1 20 42 4.2 -9.3
AFMC First Trust Active Factor Mid Cap ETF 2.0 65 -3 7.1 -6.4
VBK Vanguard Small-Cap Growth ETF 2.0 7 55 1.5 -12.0
HUSV First Trust Horizon Managed Volatility Domestic ETF 2.0 70 -8 4.6 -8.9
FFND Future Fund Active ETF 2.0 100 -38 3.1 -10.4
ROUS Hartford Multifactor US Equity ETF 2.0 19 43 6.1 -7.4
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 2.0 35 27 3.7 -9.9
SFY SoFi Select 500 ETF 2.0 0 62 3.8 -9.7
BEEX BeeHive ETF 2.0 84 -22 3.6 -9.9
CSMD Congress SMid Growth ETF 2.0 69 -7 3.3 -10.2
VALQ American Century U.S. Quality Value ETF 2.0 29 33 6.8 -6.7
FTCS First Trust Capital Strength ETF 2.0 55 7 5.0 -8.5
NUMV Nuveen ESG Mid-Cap Value ETF 2.0 31 31 6.2 -7.4
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 2.0 7 55 5.1 -8.4
LCF Touchstone US Large Cap Focused ETF 2.0 69 -7 3.6 -9.9
TIME Clockwise Core Equity & Innovation ETF 2.0 95 -33 3.2 -10.3
STXM Strive Mid-Cap ETF 2.0 18 44 5.6 -7.9
DIA SPDR Dow Jones Industrial Average ETF 2.0 16 46 4.7 -8.9
RFFC ALPS Active Equity Opportunity ETF 1.9 48 14 3.7 -9.8
LRGC AB US Large Cap Strategic Equities ETF 1.9 48 14 3.8 -9.7
QDF FlexShares Quality Dividend Index Fund 1.9 37 25 5.5 -8.1
JMEE JPMorgan Market Expansion Enhanced Equity ETF 1.9 24 38 6.6 -6.9
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 1.9 10 52 5.1 -8.4
RDVY First Trust Rising Dividend Achievers ETF 1.9 50 12 5.3 -8.2
LGDX Intech S&P Large Cap Diversified Alpha ETF 1.9 25 37 4.2 -9.4
ACWI iShares MSCI ACWI ETF 1.9 32 30 4.7 -8.8
FLRG Fidelity U.S. Multifactor ETF 1.9 15 47 6.1 -7.5
SPGM SPDR Portfolio MSCI Global Stock Market ETF 1.8 9 53 4.9 -8.6
ESML iShares ESG Aware MSCI USA Small-Cap ETF 1.8 17 45 5.4 -8.2
SWP SWP Growth & Income ETF 1.8 99 -37 3.7 -9.8
JEPI JPMorgan Equity Premium Income ETF 1.8 35 27 5.0 -8.5
RFG Invesco S&P Midcap 400 Pure Growth ETF 1.8 35 27 4.5 -9.0
WLDR Affinity World Leaders Equity ETF 1.8 67 -5 6.5 -7.0
DIV Global X SuperDividend US ETF 1.8 45 17 10.9 -2.6
SMIG AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF 1.8 60 2 5.7 -7.8
VFQY Vanguard U.S. Quality Factor ETF 1.8 13 49 5.4 -8.2
SELV SEI Enhanced Low Volatility U.S. Large Cap ETF 1.8 15 47 5.8 -7.7
BKMC BNY Mellon US Mid Cap Core Equity ETF 1.8 4 58 5.2 -8.3
VT Vanguard Total World Stock ETF 1.7 6 56 5.1 -8.4
TMFC Motley Fool 100 Index ETF 1.7 50 12 2.9 -10.7
DYNF BlackRock U.S. Equity Factor Rotation ETF 1.7 30 32 3.8 -9.7
PBD Invesco Global Clean Energy ETF 1.7 75 -13 0.7 -12.8
VAMO Cambria Value & Momentum ETF 1.7 61 1 5.5 -8.0
DFAS Dimensional U.S. Small Cap ETF 1.7 26 36 5.9 -7.6
QDEF FlexShares Quality Dividend Defensive Index Fund 1.7 37 25 5.3 -8.2
PUI Invesco Dorsey Wright Utilities Momentum ETF 1.7 60 2 4.6 -8.9
SUSL iShares ESG MSCI USA Leaders ETF 1.7 10 52 4.1 -9.4
JOET Virtus Terranova US Quality Momentum ETF 1.6 29 33 4.2 -9.3
VXF Vanguard Extended Market ETF 1.6 5 57 4.0 -9.5
QQJG Invesco ESG NASDAQ Next Gen 100 ETF 1.6 20 42 3.7 -9.8
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 1.6 80 -18 6.9 -6.6
MADE iShares U.S. Manufacturing ETF 1.6 40 22 4.1 -9.4
ISCB iShares Morningstar Small-Cap ETF 1.6 4 58 5.2 -8.3
TEKX SPDR Galaxy Transformative Tech Accelerators ETF 1.6 65 -3 -1.1 -14.7
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 1.6 10 52 4.2 -9.3
BWEB Bitwise Web3 ETF 1.6 85 -23 -0.1 -13.6
TMDV ProShares Russell US Dividend Growers ETF 1.6 35 27 6.5 -7.1
RSPT Invesco S&P 500 Equal Weight Technology ETF 1.6 40 22 4.6 -8.9
AVUV Avantis U.S. Small Cap Value ETF 1.6 25 37 8.8 -4.7
COPY Tweedy, Browne Insider + Value ETF 1.5 80 -18 10.5 -3.0
PRAY FIS Christian Stock Fund 1.5 69 -7 4.4 -9.1
CSB VictoryShares US Small Cap High Dividend Volatility Wtd ETF 1.5 35 27 8.6 -4.9
MMTM State Street SPDR S&P 1500 Momentum Tilt ETF 1.5 12 50 3.4 -10.1
RGEF Rockefeller Global Equity ETF 1.5 55 7 3.9 -9.6
FSMD Fidelity Small-Mid Multifactor ETF 1.5 15 47 6.2 -7.3
LGRO Level Four Large Cap Growth Active ETF 1.5 55 7 3.3 -10.2
KAT Scharf ETF 1.4 87 -25 4.6 -8.9
GKAT Scharf Global Opportunity ETF 1.4 57 5 5.5 -8.0
QLC FlexShares US Quality Large Cap Index Fund 1.4 25 37 4.5 -9.0
RPG Invesco S&P 500 Pure Growth ETF 1.4 35 27 2.7 -10.9
GQQQ Astoria US Quality Growth Kings ETF 1.4 35 27 3.7 -9.8
NIXT Research Affiliates Deletions ETF 1.4 9 53 7.6 -5.9
FTC First Trust Large Cap Growth AlphaDEX Fund 1.4 59 3 1.6 -11.9
QQQG Pacer Nasdaq 100 Top 50 Cash Cows Growth Leaders ETF 1.4 49 13 3.4 -10.1
AMID Argent Mid Cap ETF Argent Mid Cap ETF 1.4 52 10 5.2 -8.3
FCPI Fidelity Stocks for Inflation ETF 1.4 15 47 6.9 -6.6
DARP Grizzle Growth ETF 1.3 75 -13 2.1 -11.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.3 20 42 4.8 -8.7
NUSC Nuveen ESG Small-Cap ETF 1.3 31 31 4.7 -8.9
FVD First Trust Value Line Dividend Index Fund 1.3 65 -3 5.8 -7.8
DUNK Dana Unconstrained Equity ETF 1.3 75 -13 1.9 -11.7
DSI iShares MSCI KLD 400 Social ETF 1.3 25 37 4.1 -9.4
SMMD iShares Russell 2500 ETF 1.3 15 47 5.9 -7.6
BKSE BNY Mellon US Small Cap Core Equity ETF 1.2 4 58 5.2 -8.3
AVUQ Avantis U.S. Quality ETF 1.2 15 47 3.5 -10.0
SPMO Invesco S&P 500 Momentum ETF 1.2 13 49 3.4 -10.1
EGUS iShares ESG Aware MSCI USA Growth ETF 1.2 18 44 2.9 -10.6
GLOV Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF 1.2 25 37 5.4 -8.1
PSET Principal Quality ETF 1.2 15 47 4.6 -8.9
JHSC John Hancock Multifactor Small Cap ETF 1.2 42 20 5.9 -7.6
CGDG Capital Group Dividend Growers ETF 1.1 47 15 5.4 -8.1
XJH iShares ESG Screened S&P Mid-Cap ETF 1.1 12 50 6.3 -7.2
DFSU Dimensional US Sustainability Core 1 ETF 1.1 18 44 4.5 -9.0
FPX First Trust US Equity Opportunities ETF 1.1 61 1 0.8 -12.7
ACWV iShares MSCI Global Min Vol Factor ETF 1.1 20 42 5.4 -8.2
YNOT Horizon Digital Frontier ETF 1.0 75 -13 2.5 -11.0
CGGR Capital Group Growth ETF 1.0 39 23 2.7 -10.8
VUSE Vident U.S. Equity Strategy ETF 1.0 50 12 3.5 -10.0
IQSU IQ Candriam U.S. Large Cap Equity ETF 1.0 9 53 4.2 -9.3
CVAR Cultivar ETF 1.0 87 -25 6.9 -6.6
CGV Conductor Global Equity Value ETF 1.0 130 -68 7.0 -6.5
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 1.0 75 -13 3.3 -10.2
XVV iShares ESG Screened S&P 500 ETF 1.0 8 54 4.1 -9.4
DTEC ALPS Disruptive Technologies ETF 1.0 50 12 3.3 -10.2
CHGX AXS Change Finance ESG ETF 1.0 49 13 4.5 -9.1
LSAF LeaderShares AlphaFactor US Core Equity ETF 1.0 75 -13 6.4 -7.1
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 1.0 29 33 3.8 -9.7
PABU iShares Paris-Aligned Climate MSCI USA ETF 1.0 10 52 3.6 -9.9
ONEV State Street SPDR Russell 1000 Low Volatility Focus ETF 0.9 20 42 7.3 -6.2
QGRO American Century U.S. Quality Growth ETF 0.9 29 33 3.0 -10.5
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.9 20 42 4.0 -9.5
VOLT Tema Electrification ETF 0.9 75 -13 3.3 -10.3
ALTL Pacer Lunt Large Cap Alternator ETF 0.9 60 2 4.2 -9.3
MID American Century Mid Cap Growth Impact ETF 0.9 45 17 2.9 -10.6
NZUS State Street SPDR MSCI USA Climate Paris Aligned ETF 0.9 10 52 3.6 -9.9
RSHO Tema American Reshoring ETF 0.9 75 -13 3.8 -9.7
GLOF iShares Global Equity Factor ETF 0.9 20 42 5.9 -7.6
XMMO Invesco S&P MidCap Momentum ETF 0.9 34 28 3.7 -9.8
SCDV Bahl & Gaynor Small Cap Dividend ETF 0.9 70 -8 4.3 -9.3
MCOW Pacer S&P MidCap 400 Quality FCF Aristocrats ETF 0.9 49 13 5.9 -7.6
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 0.9 40 22 6.9 -6.6
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.9 64 -2 0.9 -12.6
IQSM IQ Candriam U.S. Mid Cap Equity ETF 0.8 15 47 5.4 -8.2
VFMO Vanguard U.S. Momentum Factor ETF 0.8 13 49 2.6 -11.0
TTAC FCF US Quality ETF 0.8 59 3 4.9 -8.6
FDLS Inspire Fidelis Multi Factor ETF 0.8 76 -14 4.1 -9.4
CAML Congress Large Cap Growth ETF 0.8 66 -4 2.5 -11.0
FMKT The Free Markets ETF 0.8 76 -14 3.9 -9.6
LST Leuthold Select Industries ETF 0.8 91 -29 4.9 -8.7
EMOT First Trust S&P 500 Economic Moat ETF 0.8 60 2 6.6 -6.9
GLRY Inspire Faithward Mid Cap Momentum ETF 0.8 80 -18 5.2 -8.3
PSCT Invesco S&P SmallCap Information Technology ETF 0.7 29 33 4.2 -9.3
HAIL State Street SPDR S&P Kensho Smart Mobility ETF 0.7 45 17 1.4 -12.1
SCOW Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF 0.7 59 3 8.7 -4.8
IBAT iShares Energy Storage & Materials ETF 0.7 47 15 2.5 -11.0
STXK Strive Small-Cap ETF 0.7 18 44 5.5 -8.1
IJK iShares S&P Mid-Cap 400 Growth ETF 0.7 17 45 4.9 -8.6
SFYF SoFi Social 50 ETF 0.7 29 33 0.9 -12.7
FLQL Franklin LibertyQ U.S. Equity ETF 0.7 15 47 4.6 -8.9
LEAD Siren DIVCON Leaders Dividend ETF 0.7 43 19 3.7 -9.9
RJDI RJ Eagle GCM Dividend Select Income ETF 0.7 55 7 4.9 -8.6
POW VistaShares Electrification Supercycle ETF 0.7 75 -13 3.0 -10.5
MDYG State Street SPDR S&P 400 Mid Cap Growth ETF 0.7 15 47 5.0 -8.6
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF 0.7 20 42 5.5 -8.0
IQM Franklin Intelligent Machines ETF 0.7 50 12 1.5 -12.0
IJS iShares S&P Small-Cap 600 Value ETF 0.7 18 44 8.9 -4.6
SMDX Intech S&P Small-Mid Cap Divers Alp ETF 0.6 35 27 6.4 -7.1
STXG Strive 1000 Growth ETF 0.6 18 44 3.1 -10.4
SPHQ Invesco S&P 500 Quality ETF 0.6 15 47 4.7 -8.8
JGRO JPMorgan Active Growth ETF 0.6 44 18 2.8 -10.7
USVM VictoryShares US Small Mid Cap Value Momentum ETF 0.6 25 37 7.1 -6.5
FNY First Trust Mid Cap Growth AlphaDEX Fund 0.6 70 -8 1.7 -11.8
OPTZ Optimize Strategy Index ETF 0.6 50 12 4.3 -9.3
SLYV State Street SPDR S&P 600 Small Cap Value ETF 0.6 15 47 8.9 -4.6
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF 0.6 60 2 4.2 -9.3
LOWV AB US Low Volatility Equity ETF 0.6 48 14 4.6 -8.9
VIOV Vanguard S&P Small-Cap 600 Value ETF 0.6 10 52 8.9 -4.6
IQDY FlexShares International Quality Dividend Dynamic Index Fund 0.6 47 15 7.1 -6.5
KOMP State Street SPDR S&P Kensho New Economies Composite ETF 0.6 20 42 2.7 -10.8
CZAR Themes Natural Monopoly ETF 0.6 35 27 4.9 -8.6
TECB iShares U.S. Tech Breakthrough Multisector ETF 0.6 40 22 3.1 -10.4
TPSC Timothy Plan US Small Cap Core ETF 0.6 52 10 6.3 -7.2
SCHG Schwab U.S. Large-Cap Growth ETF 0.5 4 58 3.1 -10.5
FSST Fidelity Sustainable U.S. Equity ETF 0.5 59 3 3.6 -9.9
FNDA Schwab Fundamental US Small Co. Index ETF 0.5 25 37 6.9 -6.6
ISCG iShares Morningstar Small-Cap Growth ETF 0.5 6 56 2.6 -11.0
FYT First Trust Small Cap Value AlphaDEX Fund 0.5 73 -11 10.7 -2.8
QGRW WisdomTree U.S. Quality Growth Fund 0.5 28 34 3.3 -10.2
VUG Vanguard Growth ETF 0.5 4 58 3.3 -10.2
SCHA Schwab U.S. Small-Cap ETF 0.5 4 58 5.1 -8.5
ITAN Sparkline Intangible Value ETF 0.5 50 12 5.7 -7.8
TRFM AAM Transformers ETF 0.5 49 13 1.0 -12.5
QQQ Invesco QQQ Trust Series I 0.5 20 42 3.4 -10.2
QQQM Invesco NASDAQ 100 ETF 0.5 15 47 3.4 -10.1
BGRO iShares Large Cap Growth Active ETF 0.5 55 7 2.0 -11.5
PRXG Praxis Impact Large Cap Growth ETF 0.5 36 26 2.8 -10.7
SXQG ETC 6 Meridian Quality Growth ETF 0.5 100 -38 3.8 -9.7
DFNV Donoghue Forlines Innovation ETF 0.5 69 -7 3.7 -9.8
SQLV Royce Quant Small-Cap Quality Value ETF 0.5 60 2 8.6 -4.9
ILCG iShares Morningstar Growth ETF 0.5 4 58 3.0 -10.5
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure 0.4 58 4 3.8 -9.7
CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF 0.4 59 3 5.5 -8.0
ONEQ Fidelity Nasdaq Composite Index ETF 0.4 21 41 3.1 -10.4
AFSM First Trust Active Factor Small Cap ETF 0.4 75 -13 6.6 -6.9
CVLC Calvert US Large-Cap Core Responsible Index ETF 0.4 15 47 4.2 -9.3
XMHQ Invesco S&P MidCap Quality ETF 0.4 25 37 5.7 -7.9
VOOG Vanguard S&P 500 Growth ETF 0.4 7 55 3.3 -10.2
GGUS Marketbeta Russell 1000 Growth Equity ETF 0.4 12 50 3.6 -9.9
XT iShares Exponential Technologies ETF 0.4 46 16 4.3 -9.3
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 0.4 60 2 5.1 -8.4
XJR iShares ESG Screened S&P Small-Cap ETF 0.4 12 50 6.9 -6.7
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.3 12 50 4.3 -9.2
IJR iShares Core S&P Small Cap ETF 0.3 6 56 6.9 -6.6
SCDS JPMorgan Fundamental Data Science Small Core ETF 0.3 40 22 4.3 -9.2
FLAG Global X S&P 500 U.S. Market Leaders Top 50 ETF 0.3 29 33 6.0 -7.5
IWF iShares Russell 1000 Growth ETF 0.3 19 43 3.2 -10.3
FTEC Fidelity MSCI Information Technology Index ETF 0.3 8 54 3.2 -10.3
VGT Vanguard Information Technology ETF 0.3 9 53 3.3 -10.3
VIOO Vanguard S&P Small-Cap 600 ETF 0.3 7 55 6.9 -6.6
SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF 0.3 3 59 6.9 -6.6
LCOW Pacer S&P 500 Quality FCF Aristocrats ETF 0.3 49 13 4.8 -8.7
VONG Vanguard Russell 1000 Growth ETF 0.3 7 55 3.4 -10.1
FYX First Trust Small Cap Core AlphaDEX Fund 0.3 61 1 5.2 -8.4
XLK The Technology Select Sector SPDR Fund 0.2 8 54 3.6 -10.0
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.2 39 23 2.8 -10.7
GINN Goldman Sachs Innovate Equity ETF 0.2 52 10 3.2 -10.3
IGM iShares Expanded Tech Sector ETF 0.2 41 21 2.9 -10.6
IXN iShares Global Tech ETF 0.1 41 21 2.9 -10.7
ETHO Etho Climate Leadership U.S. ETF 0.1 47 15 4.8 -8.7
LQPE PEO AlphaQuest Thematic PE ETF 0.1 125 -63 6.1 -7.4
GXPT Global X PureCap MSCI Information Technology ETF 0.1 25 37 3.3 -10.2
IUSG iShares Core S&P U.S. Growth ETF 0.1 4 58 3.3 -10.2
VEGN US Vegan Climate ETF 0.1 60 2 3.8 -9.7
USXF iShares ESG Advanced MSCI USA ETF 0.1 10 52 4.0 -9.5
FBCG Fidelity Blue Chip Growth ETF 0.1 59 3 2.2 -11.3
MTUM iShares MSCI USA Momentum Factor ETF 0.1 15 47 2.7 -10.9
RWJ Invesco S&P SmallCap 600 Revenue ETF 0.1 39 23 8.8 -4.7
STXD Strive 1000 Dividend Growth ETF 0.1 35 27 4.3 -9.2
IVW iShares S&P 500 Growth ETF 0.1 18 44 3.1 -10.4
MVPA Miller Value Partners Appreciation ETF 0.1 60 2 8.0 -5.6
SPYG State Street SPDR Portfolio S&P 500 Growth ETF 0.1 4 58 3.3 -10.2
PEXL Pacer US Export Leaders ETF 0.1 60 2 3.9 -9.6
GLBL Pacer MSCI World Industry Advantage ETF 0.1 65 -3 3.5 -10.0
AVSU Avantis Responsible U.S. Equity ETF 0.1 15 47 5.1 -8.4
ESGV Vanguard ESG U.S. Stock ETF 0.1 9 53 4.1 -9.4
SPXE ProShares S&P 500 Ex-Energy ETF 0.1 9 53 4.1 -9.4
MODL VictoryShares WestEnd U.S. Sector ETF 0.0 42 20 4.0 -9.6
IWY iShares Russell Top 200 Growth ETF 0.0 20 42 3.3 -10.3
TRUT VanEck Technology TruSector ETF 0.0 13 49 3.7 -9.9
THRO iShares U.S. Thematic Rotation Active ETF 0.0 90 -28 3.0 -10.5
AVSC Avantis U.S Small Cap Equity ETF 0.0 25 37 4.8 -8.8
MLPA Global X MLP ETF 0.0 45 17 9.1 -4.4

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

  2020 2021 2022 2023 2024 2025E 2026E
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
  2024 2025E 2026E
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 Energy AlphaDEX Fund
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 20.1 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 62 bp
Equals: ALTAR Score 13.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.55 CATEGORY
AVERAGE		 1.58
 
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.