First Trust Horizon Managed Volatility Small/Mid ETF
ALTAR
Score™
5.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.0x P/Sales
ratio
1.5x
P/BV
ratio
2.1x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
HSMV is an active fund of small- and midcap US stocks selected based on volatility forecast.

FUND BASICS
Category US Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Apr 06, 2020
Assets (mns) $16
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 150
Wgt avg mkt cap (mns) $3,940
Large cap (>$10bn) 5.7%
Mid cap ($2-10bn) 64.6%
Small cap (<$2bn) 29.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TORO CO 1.0 %
FLOWERS FOODS INC 0.9 %
INDUSTRIAL LOGISTICS PROPERTIES TR 0.9 %
POOL CORP 0.9 %
PRICESMART INC 0.9 %
GENTEX CORP 0.8 %
POST HOLDINGS INC 0.8 %
TOOTSIE ROLL INDS 0.8 %
HEALTHCARE REALTY TRUST INC 0.8 %
SILGAN HOLDINGS INC 0.8 %
Total 8.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.9 %
BERMUDA 0.8 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
10.5% -- -- -- 10.5%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $24.29
30d moving avg. $25.03
Annualized volatility 0.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 32

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.3%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $321

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the First Trust Horizon Managed Volatility Small/Mid ETF ETF based on the alternatives' overlap in portfolio holdings with HSMV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: HSMV Expense: 80 bp ALTAR Score™: 5.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HSMV
Ticker Fund
Name
Overlap1
vs HSMV
(%)
Expense
ratio
(bp)
Savings
vs HSMV
(bp)
ALTAR
Score™
(%)
ALTAR
vs HSMV
(%)
XMLV Invesco S&P MidCap Low Volatility ETF 42.8 25 55 5.6 -0.3
XSLV Invesco S&P SmallCap Low Volatility ETF 32.6 25 55 5.7 -0.1
IJH iShares Core S&P Mid-Cap ETF 29.2 5 75 6.6 +0.7
MDY SPDR S&P Midcap 400 ETF Trust 29.2 23 57 6.4 +0.5
SPMD SPDR Portfolio Mid Cap ETF 29.1 5 75 6.5 +0.7
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 28.7 15 65 5.0 -0.8
IJK iShares S&P Mid-Cap 400 Growth ETF 28.6 24 56 4.9 -0.9
MDYG SPDR S&P 400 Mid Cap Growth ETF 28.6 15 65 5.0 -0.8
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 28.5 20 60 4.7 -1.1
IVOO Vanguard S&P Mid-Cap 400 ETF 28.0 10 70 6.5 +0.7
IJJ iShares S&P Mid-Cap 400 Value ETF 23.7 25 55 8.5 +2.7
MDYV SPDR S&P 400 Mid Cap Value ETF 23.6 15 65 8.6 +2.8
AFMC First Trust Active Factor Mid Cap ETF 23.5 65 15 6.5 +0.6
IVOV Vanguard S&P Mid-Cap 400 Value ETF 23.4 15 65 8.7 +2.8
SMDY Syntax Stratified MidCap ETF 22.9 30 50 6.4 +0.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 22.5 40 40 7.0 +1.2
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 21.9 48 32 5.6 -0.2
RWK Invesco S&P MidCap 400 Revenue ETF 21.4 39 41 7.9 +2.0
FSMD Fidelity Small-Mid Factor ETF 18.7 29 51 6.4 +0.6
EZM WisdomTree U.S. MidCap Earnings Fund 17.3 38 42 9.1 +3.3
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 17.1 40 40 6.4 +0.5
VBR Vanguard Small Cap Value Index Fund 16.9 7 73 8.4 +2.6
RNMC Mid Cap US Equity Select ETF 16.9 60 20 7.8 +1.9
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 16.7 7 73 5.4 -0.4
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 16.5 35 45 6.1 +0.3
JKJ iShares Morningstar Small-Cap ETF 16.3 25 55 6.6 +0.8
DON WisdomTree U.S. MidCap Dividend Fund 16.1 38 42 7.8 +1.9
XMMO Invesco S&P MidCap Momentum ETF 15.7 34 46 4.6 -1.3
JHSC John Hancock Multifactor Small Cap ETF 15.2 42 38 5.9 +0.1
SFYX Sofi Next 500 ETF 15.2 0 80 6.0 +0.2
RFG Invesco S&P Midcap 400 Pure Growth ETF 14.9 35 45 4.1 -1.8
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 14.8 30 50 7.7 +1.9
IJT iShares S&P Small-Cap 600 Growth ETF 14.4 25 55 5.4 -0.4
SLYG SPDR S&P 600 Small Cap Growth ETF 14.4 15 65 5.5 -0.4
VIOG Vanguard S&P Small-Cap 600 Growth ETF 14.3 16 64 5.5 -0.4
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 14.2 35 45 8.4 +2.6
NUSC Nuveen ESG Small-Cap ETF 14.1 40 40 5.0 -0.8
SCHM Schwab U.S. Mid-Cap ETF 13.9 4 76 6.2 +0.4
VIOO Vanguard S&P Small-Cap 600 ETF 13.8 10 70 7.2 +1.4
EQWM Invesco S&P MidCap Quality ETF 13.7 25 55 6.4 +0.6
PBSM Invesco PureBeta MSCI USA Small Cap ETF 13.5 6 74 5.3 -0.5
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 13.5 17 63 5.0 -0.9
VB Vanguard Small-Cap ETF 13.4 5 75 5.4 -0.4
IJR iShares Core S&P Small Cap ETF 13.4 6 74 7.3 +1.4
SLY SPDR S&P 600 Small Cap ETF 13.3 15 65 7.2 +1.3
SPSM SPDR Portfolio Small Cap ETF 13.3 5 75 7.3 +1.4
ROGS Hartford Multifactor Global Small Cap ETF 12.6 34 46 8.3 +2.5
ISMD Inspire Small/Mid Cap Impact ETF 12.4 60 20 6.3 +0.4
TPSC Timothy Plan US Small Cap Core ETF 12.3 52 28 8.4 +2.5
ONEV SPDR Russell 1000 Low Volatility Focus ETF 12.2 20 60 7.0 +1.1
FNK First Trust Mid Cap Value AlphaDEX Fund 12.2 70 10 11.3 +5.5
FNX First Trust Mid Cap Core AlphaDEX Fund 12.1 61 19 6.6 +0.8
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 12.1 35 45 5.4 -0.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 12.0 24 56 6.7 +0.8
BKSE BNY Mellon US Small Cap Core Equity ETF 11.7 4 76 6.1 +0.2
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 11.6 20 60 9.7 +3.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 11.5 24 56 6.2 +0.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 11.3 29 51 5.4 -0.4
IFRA iShares U.S. Infrastructure ETF 11.2 40 40 6.0 +0.2
SDY SPDR S&P Dividend ETF 11.2 35 45 7.2 +1.4
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 11.2 35 45 8.6 +2.7
DES WisdomTree U.S. SmallCap Dividend Fund 10.9 38 42 8.8 +2.9
TPLC Timothy Plan US Large Cap Core ETF 10.8 52 28 5.4 -0.5
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 10.8 30 50 5.7 -0.2
VIOV Vanguard S&P Small-Cap 600 Value ETF 10.7 15 65 9.2 +3.4
FNY First Trust Mid Cap Growth AlphaDEX Fund 10.6 70 10 2.1 -3.7
SCHA Schwab U.S. Small-Cap ETF 10.6 4 76 4.6 -1.2
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 10.6 12 68 7.7 +1.9
PXMV Invesco S&P MidCap Value with Momentum ETF 10.5 39 41 10.0 +4.2
AFSM First Trust Active Factor Small Cap ETF 10.5 75 5 5.5 -0.3
IJS iShares S&P Small-cap 600 Value ETF 10.5 25 55 9.2 +3.3
SSLY Syntax Stratified SmallCap ETF 10.4 30 50 6.7 +0.9
SLYV SPDR S&P 600 Small Cap Value ETF 10.4 15 65 9.3 +3.4
FNDA Schwab Fundamental U.S. Small Co. Index ETF 10.3 25 55 7.1 +1.2
SMDV ProShares Russell 2000 Dividend Growers ETF 10.3 40 40 6.8 +1.0
VBK Vanguard Small-Cap Growth Index Fund 10.3 7 73 2.4 -3.5
VUSE Vident Core US Equity Fund 10.2 48 32 9.0 +3.1
XSHQ Invesco S&P SmallCap Quality ETF 10.2 29 51 6.9 +1.0
VXF Vanguard Extended Market Index Fund 10.1 6 74 3.6 -2.2
OSCV Opus Small Cap Value Plus ETF 10.0 79 1 5.7 -0.2
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 9.8 40 40 7.2 +1.4
IUSS Invesco Strategic US Small Company ETF 9.6 23 57 5.4 -0.5
JKL iShares Morningstar Small Cap Value ETF 9.6 30 50 10.3 +4.5
FVD First Trust Value Line Dividend Index Fund 9.6 70 10 6.3 +0.5
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 9.4 17 63 6.4 +0.5
JMIN JPMorgan U.S. Minimum Volatility ETF 9.4 12 68 5.5 -0.3
PSCF Invesco S&P SmallCap Financials ETF 9.4 29 51 11.5 +5.7
VFLQ Vanguard U.S. Liquidity Factor ETF 9.4 14 66 4.3 -1.6
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 9.3 29 51 9.6 +3.7
SMMD iShares Russell 2500 ETF 9.2 15 65 5.9 +0.1
USMF WisdomTree U.S. Multifactor Fund 9.2 28 52 5.8 -0.1
PSC Principal U.S. Small Cap Index ETF 9.2 38 42 7.1 +1.2
JHMM John Hancock Multifactor Mid Cap ETF 9.2 42 38 5.7 -0.2
TMDV ProShares Russell US Dividend Growers ETF 9.2 35 45 5.6 -0.2
VFMF Vanguard U.S. Multifactor ETF 8.8 19 61 7.6 +1.7
IWO iShares Russell 2000 Growth ETF 8.8 24 56 0.0 -5.8
RZG Invesco S&P Smallcap 600 Pure Growth ETF 8.8 35 45 6.0 +0.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 8.7 29 51 6.9 +1.1
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 8.7 38 42 8.9 +3.1
RNSC Small Cap US Equity Select ETF 8.7 60 20 7.5 +1.7

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

  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

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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 Small/Mid ETF
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 12.9 %
Divided by: Fwd. P/BV 1.9 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 5.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.51
 
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.