First Trust Horizon Managed Volatility Developed Intl ETF
ALTAR
Score™
6.0% info Recommen-
dation
UNDERWEIGHT
2021E    2022E
P/E
ratio
16.6x P/Sales
ratio
1.1x
P/BV
ratio
1.4x Div.
yield
3.7%


  • 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) $90
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 149
Wgt avg mkt cap (mns) $39,406
Large cap (>$10bn) 68.6%
Mid cap ($2-10bn) 29.0%
Small cap (<$2bn) 0.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
HONG KONG & CHINA GAS 1.8 %
CLP HOLDINGS LTD 1.7 %
HONGKONG ELECTRIC HOLDINGS 1.7 %
MCDONALD'S HOLDINGS CO JAPAN 1.7 %
NESTLE SA-REG 1.5 %
OVERSEA-CHINESE BANKING CORP 1.5 %
JAPAN TOBACCO INC 1.4 %
UNITED OVERSEAS BANK LTD 1.3 %
SWISSCOM AG 1.3 %
VOPAK 1.3 %
Total 15.3 %

TOP COUNTRY EXPOSURE
JAPAN 27.2 %
HONG KONG 11.5 %
SWITZERLAND 10.8 %
SINGAPORE 9.2 %
BRITAIN 6.1 %
GERMANY 6.0 %
FRANCE 6.0 %
AUSTRALIA 4.7 %
NETHERLANDS 4.3 %
SWEDEN 2.7 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.2% -0.8% -- -- 3.0%

Market Correlations
versus... Beta R-squared
S&P500 0.68 74%
MSCI EAFE 0.76 90%
MSCI Emg. Mkts. 0.60 71%

Technical Indicators
Recent close $30.08
30d moving avg. $30.70
Annualized volatility 14.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 16
Turnover 0.5%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $11,489

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 94 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™: 6.0%


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 52.9 25 55 6.2 +0.3
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 48.2 30 50 7.8 +1.9
DFAI Dimensional International Core Equity Market ETF 42.1 18 62 6.3 +0.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 42.0 20 60 5.1 -0.8
DWMF WisdomTree International Multifactor Fund 37.7 38 42 6.2 +0.3
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 32.5 32 48 6.0 +0.0
VWID Virtus WMC International Dividend ETF 31.4 49 31 7.4 +1.5
DOL WisdomTree International LargeCap Dividend Fund 29.4 48 32 7.1 +1.2
QEFA SPDR MSCI EAFE Quality Mix ETF 28.9 30 50 6.0 +0.1
RBIN Nationwide Risk-Based International Equity ETF 28.5 42 38 5.9 -0.1
DWM WisdomTree International Equity Fund 27.0 48 32 7.1 +1.1
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 26.7 40 40 7.2 +1.2
RNDM First Trust Developed International Equity Select ETF 25.2 65 15 5.6 -0.4
RESD WisdomTree International ESG Fund 25.1 30 50 6.4 +0.5
LVHI Legg Mason International Low Volatility High Dividend ETF 24.8 40 40 8.9 +3.0
DTH WisdomTree International High Dividend Fund 24.7 58 22 8.4 +2.4
RODM Hartford Multifactor Developed Markets (ex-US) ETF 23.4 29 51 7.2 +1.3
FDEV Fidelity Targeted International Factor ETF 22.7 39 41 5.9 -0.1
ESGD iShares MSCI EAFE ESG Optimized ETF 22.7 20 60 6.1 +0.2
DOO WisdomTree International Dividend ex-Financials Fund 22.4 58 22 7.6 +1.6
CIL VictoryShares International Volatility Weighted Index ETF 22.4 45 35 6.3 +0.3
TPIF Timothy Plan International ETF 22.4 62 18 5.9 -0.0
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 22.3 45 35 6.3 +0.3
PQIN PGIM QMA Strategic Alpha International Equity ETF 22.2 29 51 7.0 +1.1
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 21.6 20 60 6.2 +0.2
GSIE Goldman Sachs ActiveBeta International Equity ETF 21.5 25 55 6.1 +0.1
JHMD John Hancock Multifactor Developed International ETF 21.5 39 41 6.4 +0.4
EFA iShares MSCI EAFE ETF 21.4 32 48 6.2 +0.2
GSID Goldman Sachs MarketBeta International Equity ETF 20.9 20 60 6.2 +0.3
JPIN JPMorgan Diversified Return International Equity ETF 20.9 37 43 6.9 +1.0
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 20.8 35 45 6.0 +0.1
IQSI IQ Candriam ESG International Equity ETF 20.8 15 65 6.3 +0.3
BKIE BNY Mellon International Equity ETF 20.3 4 76 6.5 +0.6
HFXI IQ 50 Percent Hedged FTSE International ETF 20.2 20 60 6.4 +0.5
PDEV Principal International Multi-Factor Core Index ETF 19.7 25 55 6.9 +0.9
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 19.5 20 60 8.5 +2.6
EFV iShares MSCI EAFE Value ETF 19.5 39 41 8.1 +2.1
OEUR O'shares FTSE Europe Quality Dividend ETF 19.5 48 32 5.2 -0.8
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 19.4 25 55 6.0 +0.1
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 19.3 7 73 6.4 +0.5
FIVA Fidelity International Value Factor ETF 19.0 39 41 8.4 +2.5
IEFA iShares Core MSCI EAFE ETF 18.9 7 73 6.3 +0.4
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 18.4 14 66 6.0 +0.0
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 18.3 39 41 5.6 -0.4
EUDG WisdomTree Europe Quality Dividend Growth Fund 18.2 58 22 6.5 +0.6
SCHF Schwab International Equity ETF 18.2 6 74 6.4 +0.5
DMXF iShares ESG Advanced MSCI EAFE ETF 17.9 12 68 5.9 -0.0
IDEV iShares Core MSCI International Developed Markets ETF 17.6 5 75 6.3 +0.4
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 17.5 35 45 6.0 +0.0
IEV iShares Europe ETF 17.4 59 21 6.1 +0.1
IQLT iShares Edge MSCI Intl Quality Factor ETF 17.4 30 50 5.4 -0.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 17.3 45 35 6.0 +0.0
BBEU JPMorgan BetaBuilders Europe ETF 17.1 9 71 6.6 +0.6
DWX SPDR S&P International Dividend ETF 17.1 45 35 7.4 +1.5
FLEE Franklin FTSE Europe ETF 17.0 9 71 6.4 +0.4
FLEH Franklin FTSE Europe Hedged ETF 16.9 9 71 6.4 +0.5
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 16.8 24 56 6.6 +0.6
SPDW SPDR Portfolio Developed World ex-US ETF 16.5 4 76 6.1 +0.2
VYMI Vanguard International High Dividend Yield ETF 16.5 27 53 8.9 +2.9
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ET 16.3 20 60 9.4 +3.5
IEUR iShares Core MSCI Europe ETF 16.1 9 71 6.4 +0.4
CID VictoryShares Intl High Dividend Volatility Wtd Index ETF 16.1 45 35 9.3 +3.3
EPP iShares MSCI Pacific ex-Japan ETF 16.0 48 32 5.4 -0.5
FIDI Fidelity International High Dividend ETF 16.0 39 41 8.4 +2.5
DVYA iShares Asia/Pacific Dividend ETF 15.8 49 31 10.0 +4.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 15.8 25 55 6.3 +0.3
SPEU SPDR Portfolio Europe ETF 15.8 9 71 6.5 +0.5
CWI SPDR MSCI ACWI ex-US ETF 15.8 30 50 6.1 +0.2
IDLB Invesco FTSE International Low Beta Equal Weight ETF 15.8 45 35 6.1 +0.1
IPAC iShares Core MSCI Pacific ETF 15.7 9 71 6.2 +0.2
IDHQ Invesco S&P International Developed Quality ETF 15.7 29 51 5.1 -0.8
EFAD ProShares MSCI EAFE Dividend Growers ETF 15.7 51 29 5.1 -0.8
VEA Vanguard FTSE Developed Markets ETF 15.7 5 75 6.4 +0.5
ESGN Columbia Sustainable International Equity Income ETF 15.6 45 35 8.9 +2.9
EWJE iShares MSCI Japan Equal Weighted ETF 15.6 15 65 6.2 +0.2
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 15.5 45 35 7.3 +1.4
IQIN IQ 500 International ETF 15.5 25 55 7.3 +1.3
VGK Vanguard FTSE Europe ETF 15.2 8 72 6.5 +0.6
FID First Trust S&P International Dividend Aristocrats ETF 15.1 60 20 8.8 +2.8
ACWV iShares MSCI Global Min Vol Factor ETF 15.0 20 60 5.7 -0.3
VSGX Vanguard ESG International Stock ETF 14.9 17 63 6.3 +0.3
NUDM Nuveen ESG International Developed Markets Equity ETF 14.7 40 40 5.7 -0.2
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF 14.7 19 61 5.7 -0.2
FNDF Schwab Fundamental International Large Co. Index ETF 14.6 25 55 7.5 +1.5
EWJ iShares MSCI Japan ETF 14.6 51 29 6.0 +0.0
ISZE iShares Edge MSCI Intl Size Factor ETF 14.6 30 50 6.1 +0.1
ACWX iShares MSCI ACWI ex U.S. ETF 14.5 32 48 6.2 +0.3
IVLU iShares Edge MSCI Intl Value Factor ETF 14.4 30 50 9.6 +3.6
EFG iShares MSCI EAFE Growth ETF 14.4 40 40 4.0 -1.9
RFDI First Trust Riverfront Dynamic Developed International ETF 14.4 83 -3 5.4 -0.6
EWJV iShares MSCI Japan Value ETF 14.3 15 65 8.4 +2.5
ZJPN SPDR Solactive Japan ETF 14.2 14 66 6.5 +0.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 14.1 40 40 6.1 +0.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 14.1 45 35 6.0 +0.1

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

  2016 2017 2018 2019 2020 2021E 2022E
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
  2020 2021E 2022E
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 9.4 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 6.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.65 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.
 

 

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.