First Trust Horizon Managed Volatility Developed Intl ETF
ALTAR
Score™
6.3% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
16.9x P/Sales
ratio
1.2x
P/BV
ratio
1.4x Div.
yield
3.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust Horizons Managed Volatility Developed International ETF is an active fund of low expected volatility mid- and large-cap stocks from developed markets.

FUND BASICS
Category International Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Aug 24, 2016
Assets (mns) $145
Currency USD
Expense ratio 80 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 124
Wgt avg mkt cap (mns) $30,652
Large cap (>$10bn) 71.2%
Mid cap ($2-10bn) 27.1%
Small cap (<$2bn) 1.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
COLOPLAST A/S CLASS B 2.1 %
GIVAUDAN-REG 2.1 %
AUSNET SERVICES 2.1 %
LONZA GROUP AG-REG 2.1 %
CLP HOLDINGS LTD 2.1 %
SINGAPORE TELECOMMUNICATIONS LIMIT 2.1 %
SCHINDLER HOLDING AG 2.1 %
PCCW LIMITED 1.9 %
UOL GROUP LIMITED 1.9 %
HONG KONG & CHINA GAS 1.9 %
Total 20.2 %

TOP COUNTRY EXPOSURE
JAPAN 30.6 %
HONG KONG 16.9 %
SWITZERLAND 11.5 %
SINGAPORE 6.7 %
FRANCE 6.6 %
NETHERLANDS 5.3 %
BRITAIN 3.9 %
DENMARK 3.9 %
SWEDEN 3.0 %
AUSTRALIA 2.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-21.2% -17.0% -- -- 0.1%

Market Correlations
versus... Beta R-squared
S&P500 0.70 70%
MSCI EAFE 0.85 90%
MSCI Emg. Mkts. 0.64 79%

Technical Indicators
Recent close $27.29
30d moving avg. $26.94
Annualized volatility 14.0%
Short interest (ETF) 0.3%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 46
Turnover 0.9%
Bid/Ask (% of price) 0.30%
ADV underlying (mns) $7,746

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the First Trust Horizon Managed Volatility Developed Intl ETF ETF based on the alternatives' overlap in portfolio holdings with HDMV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HDMV Expense: 80 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HDMV
Ticker Fund
Name
Overlap1
vs HDMV
(%)
Expense
ratio
(bp)
Savings
vs HDMV
(bp)
ALTAR
Score™
(%)
ALTAR
vs HDMV
(%)
IDLV Invesco S&P International Developed Low Volatility ETF 33.0 25 55 7.2 +0.9
EFAV iShares Edge MSCI Min Vol EAFE ETF 22.9 20 60 6.1 -0.2
DWMF WisdomTree International Multifactor Fund 22.6 38 42 7.2 +0.9
QEFA SPDR MSCI EAFE Quality Mix ETF 22.6 30 50 7.2 +0.8
RNDM Developed International Equity Select ETF 21.6 65 15 6.8 +0.5
RBIN Nationwide Risk-Based International Equity ETF 20.9 42 38 6.8 +0.4
ESGD iShares MSCI EAFE ESG Optimized ETF 20.9 20 60 7.7 +1.4
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 20.9 48 32 0.0 -6.3
JPMV iShares Edge MSCI Min Vol Japan ETF 19.6 30 50 7.3 +0.9
EWJE iShares MSCI Japan Equal Weighted ETF 19.6 15 65 7.5 +1.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 19.3 14 66 7.4 +1.1
DOL WisdomTree International LargeCap Dividend Fund 19.2 48 32 9.1 +2.7
SCIJ Global X Scientific Beta Japan ETF 19.0 39 41 7.6 +1.2
EUMV iShares Edge MSCI Min Vol Europe ETF 18.9 25 55 5.8 -0.5
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 18.8 25 55 8.1 +1.8
IDY Pacific Global International Equity Income ETF 18.7 39 41 9.4 +3.1
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 18.6 32 48 6.8 +0.4
QJPN SPDR MSCI Japan StrategicFactors ETF 18.3 14 66 8.5 +2.1
BBJP JPMorgan BetaBuilders Japan ETF 18.2 19 61 8.2 +1.8
EWJ iShares MSCI Japan ETF 18.1 49 31 7.9 +1.6
DBJP Xtrackers MSCI Japan Hedged Equity ETF 17.9 45 35 8.0 +1.6
EFG iShares MSCI EAFE Growth ETF 17.7 40 40 5.0 -1.3
EFA iShares MSCI EAFE ETF 17.6 32 48 7.7 +1.4
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 17.6 20 60 7.7 +1.4
JPXN iShares JPX-Nikkei 400 ETF 17.6 48 32 7.9 +1.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 17.5 35 45 9.1 +2.8
FDEV Fidelity Targeted International Factor ETF 17.5 39 41 6.9 +0.6
IPAC iShares Core MSCI Pacific ETF 17.5 9 71 8.0 +1.7
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 17.4 9 71 8.4 +2.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 17.3 35 45 7.5 +1.2
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 17.2 30 50 8.1 +1.8
FLJP Franklin FTSE Japan ETF 17.1 9 71 8.3 +2.0
PQIN PGIM QMA Strategic Alpha International Equity ETF 17.1 29 51 8.5 +2.2
FLJH Franklin FTSE Japan Hedged ETF 17.0 9 71 8.3 +2.0
IQSI IQ Candriam ESG International Equity ETF 17.0 15 65 7.8 +1.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 17.0 30 50 5.2 -1.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 16.9 25 55 7.3 +0.9
HFXI IQ 50 Percent Hedged FTSE International ETF 16.9 20 60 8.1 +1.7
DWM WisdomTree International Equity Fund 16.8 48 32 8.8 +2.5
JHMD John Hancock Multifactor Developed International ETF 16.4 45 35 8.0 +1.6
IQLT iShares Edge MSCI Intl Quality Factor ETF 16.2 30 50 6.6 +0.2
EWJV iShares MSCI Japan Value ETF 16.0 15 65 11.6 +5.3
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 15.7 7 73 8.1 +1.8
EUDG WisdomTree Europe Quality Dividend Growth Fund 15.7 58 22 6.5 +0.2
VPL Vanguard FTSE Pacific ETF 15.6 8 72 8.4 +2.0
EWH iShares MSCI Hong Kong ETF 15.6 49 31 8.3 +2.0
MVIN Natixis Seeyond International Minimum Volatility ETF 15.6 55 25 6.0 -0.4
RFDI First Trust Riverfront Dynamic Developed International ETF 15.5 83 -3 6.8 +0.4
IQDG WisdomTree International Quality Dividend Growth Fund 15.5 38 42 6.7 +0.4
CIL VictoryShares International Volatility Weighted Index ETF 15.4 45 35 7.2 +0.9
IEFA iShares Core MSCI EAFE ETF 15.3 7 73 7.8 +1.5
FLHK Franklin FTSE Hong Kong ETF 15.3 9 71 9.7 +3.3
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 15.2 58 22 6.6 +0.3
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 15.2 83 -3 7.6 +1.2
RODM Hartford Multifactor Developed Markets (ex-US) ETF 14.7 29 51 9.2 +2.9
TPIF Timothy Plan International ETF 14.7 62 18 7.5 +1.1
SCHF Schwab International Equity ETF 14.7 6 74 7.9 +1.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 14.5 25 55 7.1 +0.8
IQIN IQ 500 International ETF 14.4 25 55 9.9 +3.5
SCIX Global X Scientific Beta Asia ex-Japan ETF 14.3 38 42 7.2 +0.9
QINT American Century Quality Diversified International ETF 14.2 39 41 6.3 -0.0
PDEV Principal International Multi-Factor Core Index ETF 14.1 25 55 8.4 +2.1
NUDM Nuveen ESG International Developed Markets Equity ETF 14.1 40 40 7.3 +1.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 14.1 39 41 7.1 +0.8
SPDW SPDR Portfolio Developed World ex-US ETF 14.1 4 76 7.7 +1.4
IDEV iShares Core MSCI International Developed Markets ETF 14.0 5 75 7.8 +1.4
DOO WisdomTree International Dividend ex-Financials Fund 13.9 58 22 9.3 +3.0
FNDF Schwab Fundamental International Large Co. Index ETF 13.8 25 55 9.4 +3.1
IVLU iShares Edge MSCI Intl Value Factor ETF 13.8 30 50 12.0 +5.7
IDHQ Invesco S&P International Developed High Quality ETF 13.7 29 51 5.6 -0.7
DWCR Arrow DWA Country Rotation ETF 13.7 95 -15 18.5 +12.1
FIVA Fidelity International Value Factor ETF 13.7 39 41 11.1 +4.8
DXJ WisdomTree Japan Hedged Equity Fund 13.7 48 32 8.9 +2.6
CWI SPDR MSCI ACWI ex-US ETF 13.5 30 50 8.1 +1.7
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 13.4 16 64 7.5 +1.2
JPIN JPMorgan Diversified Return International Equity ETF 13.4 38 42 8.5 +2.1
RFEU First Trust Riverfront Dynamic Europe ETF 13.3 83 -3 5.3 -1.1
ISZE iShares Edge MSCI Intl Size Factor ETF 13.2 30 50 7.5 +1.1
EFV iShares MSCI EAFE Value ETF 13.1 39 41 10.8 +4.4
ZHOK SPDR Solactive Hong Kong ETF 13.1 14 66 8.0 +1.7
IEV iShares Europe ETF 13.1 59 21 7.3 +1.0
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 12.9 45 35 9.6 +3.3
DBEU Xtrackers MSCI Europe Hedged Equity ETF 12.9 45 35 7.1 +0.8
VEA Vanguard FTSE Developed Markets ETF 12.9 5 75 8.0 +1.7
BBEU JPMorgan BetaBuilders Europe ETF 12.6 9 71 7.8 +1.4
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 12.6 30 50 7.3 +1.0
FLEE Franklin FTSE Europe ETF 12.6 9 71 7.5 +1.1
EPP iShares MSCI Pacific ex-Japan ETF 12.6 48 32 7.4 +1.1
OEUR O'shares FTSE Europe Quality Dividend ETF 12.5 48 32 6.9 +0.5
UIVM VictoryShares USAA MSCI International Value Momentum ETF 12.4 35 45 9.1 +2.8
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 12.4 24 56 7.7 +1.4
FLEH Franklin FTSE Europe Hedged ETF 12.3 9 71 7.5 +1.2
ISDX Invesco Strategic Developed ex-US ETF 12.2 23 57 8.1 +1.8
PIZ Invesco DWA Developed Markets Momentum ETF 12.2 80 0 4.4 -1.9
IGRO iShares International Dividend Growth ETF 12.1 22 58 8.5 +2.2
ACWX iShares MSCI ACWI ex U.S. ETF 12.0 32 48 8.0 +1.7
IEUR iShares Core MSCI Europe ETF 11.9 9 71 7.8 +1.4
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 11.7 19 61 7.6 +1.3
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 11.7 40 40 7.9 +1.6

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%.

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 Horizon Managed Volatility Developed Intl 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 10.0 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.72 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.