First Trust Horizon Managed Volatility Small/Mid ETF
ALTAR
Score™
4.7% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.7x P/Sales
ratio
1.6x
P/BV
ratio
2.8x Div.
yield
1.8%


  • 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) $15
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 151
Wgt avg mkt cap (mns) $4,612
Large cap (>$10bn) 8.0%
Mid cap ($2-10bn) 69.4%
Small cap (<$2bn) 22.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FORWARD AIR CORPORATION 1.1 %
CHARLES RIVER LABORATORIES 1.1 %
J2 GLOBAL COMMUNICATIONS INC 1.1 %
SPROUTS FARMERS MARKET INC 1.0 %
FEDERAL SIGNAL CORP 1.0 %
ESCO TECHNOLOGIES INC 1.0 %
CARLISLE COS INC 0.9 %
TERADATA CORP 0.9 %
PARAMETRIC TECHNOLOGY CORP 0.9 %
BOTTOMLINE TECHNOLOGIES INC 0.9 %
Total 9.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.1 %
CAYMAN ISLANDS 0.7 %
PUERTO RICO 0.6 %
BERMUDA 0.5 %







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.
23.7% -- -- -- 23.7%

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

Technical Indicators
Recent close $29.03
30d moving avg. $28.33
Annualized volatility 0.0%
Short interest (ETF) 0.1%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.4%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $4,790

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™: 4.7%


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 41.3 25 55 5.1 +0.4
XSLV Invesco S&P SmallCap Low Volatility ETF 33.7 25 55 4.6 -0.1
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 31.1 20 60 3.7 -1.1
MDY SPDR S&P Midcap 400 ETF Trust 25.2 23 57 5.2 +0.4
SPMD SPDR Portfolio Mid Cap ETF 25.1 5 75 5.4 +0.6
IJH iShares Core S&P Mid-Cap ETF 25.1 5 75 5.4 +0.6
IVOO Vanguard S&P Mid-Cap 400 ETF 24.5 10 70 5.3 +0.6
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 23.8 15 65 4.2 -0.5
MDYG SPDR S&P 400 Mid Cap Growth ETF 23.6 15 65 3.8 -0.9
IJK iShares S&P Mid-Cap 400 Growth ETF 23.6 17 63 3.8 -1.0
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 23.4 48 32 5.6 +0.9
MDYV SPDR S&P 400 Mid Cap Value ETF 22.3 15 65 6.9 +2.2
IJJ iShares S&P Mid-Cap 400 Value ETF 22.3 18 62 6.9 +2.2
SMDY Syntax Stratified MidCap ETF 22.2 30 50 5.2 +0.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 21.5 40 40 5.7 +0.9
DON WisdomTree U.S. MidCap Dividend Fund 19.7 38 42 6.7 +2.0
RWK Invesco S&P MidCap 400 Revenue ETF 19.3 39 41 6.4 +1.7
FSMD Fidelity Small-Mid Factor ETF 18.2 29 51 5.3 +0.6
IVOV Vanguard S&P Mid-Cap 400 Value ETF 17.2 15 65 6.7 +2.0
EZM WisdomTree U.S. MidCap Earnings Fund 17.1 38 42 7.6 +2.9
RNMC Mid Cap US Equity Select ETF 16.9 60 20 6.1 +1.3
AFMC First Trust Active Factor Mid Cap ETF 16.9 65 15 5.3 +0.6
REGL ProShares S&P MidCap 400 Dividend Aristocrats ETF 16.8 41 39 5.4 +0.7
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 16.5 35 45 5.0 +0.3
FNK First Trust Mid Cap Value AlphaDEX Fund 16.5 70 10 7.8 +3.1
VIOG Vanguard S&P Small-Cap 600 Growth ETF 15.2 16 64 4.4 -0.4
XMMO Invesco S&P MidCap Momentum ETF 15.0 34 46 3.5 -1.2
XMHQ Invesco S&P MidCap Quality ETF 14.7 25 55 5.5 +0.7
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 14.6 7 73 3.9 -0.8
SFYX Sofi Next 500 ETF 14.4 0 80 4.9 +0.1
FNX First Trust Mid Cap Core AlphaDEX Fund 14.2 61 19 5.1 +0.4
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 14.0 35 45 5.1 +0.4
SLYG SPDR S&P 600 Small Cap Growth ETF 14.0 15 65 4.5 -0.2
IJT iShares S&P Small-Cap 600 Growth ETF 14.0 18 62 4.4 -0.3
JKJ iShares Morningstar Small-Cap ETF 14.0 25 55 5.1 +0.4
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 13.5 30 50 6.1 +1.4
VBR Vanguard Small Cap Value Index Fund 13.5 7 73 6.4 +1.7
JHSC John Hancock Multifactor Small Cap ETF 13.1 42 38 4.6 -0.2
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 12.7 20 60 7.1 +2.4
OSCV Opus Small Cap Value Plus ETF 12.5 79 1 4.6 -0.1
SCHM Schwab U.S. Mid-Cap ETF 12.3 4 76 5.0 +0.3
ROSC Hartford Multifactor Small Cap ETF 12.2 34 46 6.6 +1.9
TPSC Timothy Plan US Small Cap Core ETF 12.1 52 28 5.7 +1.0
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 12.0 35 45 6.0 +1.3
SLY SPDR S&P 600 Small Cap ETF 12.0 15 65 5.6 +0.9
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 12.0 35 45 6.0 +1.3
SPSM SPDR Portfolio Small Cap ETF 12.0 5 75 5.7 +1.0
IJR iShares Core S&P Small Cap ETF 11.9 6 74 5.7 +0.9
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 11.9 17 63 4.1 -0.7
VIOO Vanguard S&P Small-Cap 600 ETF 11.8 10 70 5.6 +0.9
PBSM Invesco PureBeta MSCI USA Small Cap ETF 11.7 6 74 4.1 -0.7
ISMD Inspire Small/Mid Cap Impact ETF 11.6 60 20 4.3 -0.4
VB Vanguard Small-Cap ETF 11.6 5 75 4.5 -0.3
ONEV SPDR Russell 1000 Low Volatility Focus ETF 11.6 20 60 6.2 +1.5
NUSC Nuveen ESG Small-Cap ETF 11.5 40 40 4.0 -0.7
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 11.4 24 56 5.5 +0.7
BKSE BNY Mellon US Small Cap Core Equity ETF 11.3 4 76 4.7 -0.0
XSHQ Invesco S&P SmallCap Quality ETF 11.2 29 51 5.3 +0.6
DES WisdomTree U.S. SmallCap Dividend Fund 11.2 38 42 6.7 +1.9
IFRA iShares U.S. Infrastructure ETF 11.0 40 40 4.9 +0.2
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 10.9 38 42 7.0 +2.3
SDY SPDR S&P Dividend ETF 10.8 35 45 6.4 +1.6
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 10.8 30 50 5.4 +0.6
XMVM Invesco S&P MidCap Value with Momentum ETF 10.8 39 41 8.2 +3.4
SSLY Syntax Stratified SmallCap ETF 10.7 30 50 5.0 +0.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 10.6 29 51 4.3 -0.5
PSC Principal U.S. Small Cap Index ETF 10.6 38 42 4.6 -0.1
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 10.5 12 68 6.1 +1.3
JMIN JPMorgan U.S. Minimum Volatility ETF 10.5 12 68 5.3 +0.6
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 10.3 24 56 5.0 +0.2
FVD First Trust Value Line Dividend Index Fund 10.2 70 10 5.8 +1.0
VBK Vanguard Small-Cap Growth Index Fund 10.2 7 73 1.9 -2.8
FVL First Trust Value Line 100 ETF 10.0 70 10 6.0 +1.2
JKL iShares Morningstar Small Cap Value ETF 10.0 30 50 7.6 +2.8
SMDV ProShares Russell 2000 Dividend Growers ETF 10.0 41 39 5.4 +0.7
FNY First Trust Mid Cap Growth AlphaDEX Fund 9.7 70 10 1.6 -3.1
TMDV ProShares Russell US Dividend Growers ETF 9.6 36 44 5.2 +0.5
JKK iShares Morningstar Small-Cap Growth ETF 9.6 30 50 0.6 -4.1
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 9.5 63 17 5.2 +0.5
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 9.4 29 51 6.0 +1.3
IUSS Invesco Strategic US Small Company ETF 9.4 23 57 3.7 -1.0
RFV Invesco S&P Midcap 400 Pure Value ETF 9.4 35 45 8.9 +4.2
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 9.3 17 63 5.7 +0.9
AFSM First Trust Active Factor Small Cap ETF 9.3 77 3 4.4 -0.3
RFG Invesco S&P Midcap 400 Pure Growth ETF 9.2 35 45 3.4 -1.3
CZA Invesco Zacks Mid-Cap ETF 9.1 69 11 5.6 +0.9
FNDA Schwab Fundamental U.S. Small Co. Index ETF 9.1 25 55 4.8 +0.1
FYT First Trust Small Cap Value AlphaDEX Fund 8.9 72 8 8.0 +3.3
SCHA Schwab U.S. Small-Cap ETF 8.9 4 76 3.6 -1.1
TPLC Timothy Plan US Large Cap Core ETF 8.9 52 28 4.5 -0.3
VUSE Vident Core US Equity Fund 8.9 48 32 7.4 +2.7
VFLQ Vanguard U.S. Liquidity Factor ETF 8.8 14 66 3.5 -1.3
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 8.8 40 40 5.2 +0.4
SLYV SPDR S&P 600 Small Cap Value ETF 8.6 15 65 7.0 +2.2
XSW SPDR S&P Software & Services ETF 8.6 35 45 3.2 -1.6
IJS iShares S&P Small-cap 600 Value ETF 8.6 18 62 6.8 +2.1
JHMM John Hancock Multifactor Mid Cap ETF 8.6 42 38 4.7 -0.0
RNSC Small Cap US Equity Select ETF 8.5 60 20 6.0 +1.3
PSCT Invesco S&P SmallCap Information Technology ETF 8.4 29 51 4.2 -0.5
JHMI John Hancock Multifactor Industrials ETF 8.1 40 40 5.1 +0.3

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 14.0 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 80 bp
Equals: ALTAR Score 4.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.57 CATEGORY
AVERAGE
1.49
 
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.