First Trust Horizon Managed Volatility Domestic ETF
ALTAR
Score™
5.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
19.7x P/Sales
ratio
2.2x
P/BV
ratio
3.6x Div.
yield
2.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust Horizon Managed Volatility Domestic ETF is an actively managed fund. The fund manager uses volatility forecasting to select and weight US large-capitalization stocks.

FUND BASICS
Category US Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Aug 24, 2016
Assets (mns) $189
Currency USD
Expense ratio 70 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 74
Wgt avg mkt cap (mns) $109,126
Large cap (>$10bn) 96.6%
Mid cap ($2-10bn) 3.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TYLER TECHNOLOGIES INC 2.7 %
COSTCO WHOLESALE CORP 2.7 %
MOTOROLA SOLUTIONS 2.6 %
AMPHENOL CORP-CL A 2.6 %
BROADRIDGE FINANCIAL SOLUTIO 2.6 %
HORMEL FOODS CORP 2.4 %
JOHNSON & JOHNSON 2.4 %
REPUBLIC SERVICES INC 2.3 %
NORTONLIFELOCK INC 2.3 %
VERIZON COMMUNICATIONS INC 2.3 %
Total 24.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 92.8 %
BRITAIN 2.7 %
IRELAND 0.9 %
SWITZERLAND 0.9 %
BERMUDA 0.7 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-0.8% 0.6% -- -- 9.6%

Market Correlations
versus... Beta R-squared
S&P500 0.83 83%
MSCI EAFE 0.87 75%
MSCI Emg. Mkts. 0.62 60%

Technical Indicators
Recent close $27.79
30d moving avg. $27.51
Annualized volatility 16.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 35
Turnover 0.5%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $43,658

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: HUSV Expense: 70 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH HUSV
Ticker Fund
Name
Overlap1
vs HUSV
(%)
Expense
ratio
(bp)
Savings
vs HUSV
(bp)
ALTAR
Score™
(%)
ALTAR
vs HUSV
(%)
SPLV Invesco S&P 500 Low Volatility ETF 47.6 25 45 5.4 -0.2
ALTL Pacer Lunt Large Cap Alternator ETF 47.6 60 10 5.1 -0.6
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 38.6 25 45 5.8 +0.1
LSLT Salt Low truBeta US Market ETF 34.3 60 10 5.7 +0.0
USMV iShares Edge MSCI Min Vol USA ETF 34.0 15 55 5.4 -0.2
DEF Invesco Defensive Equity ETF 32.9 55 15 5.1 -0.5
FLLV Franklin Liberty U.S. Low Volatility ETF 31.5 29 41 5.4 -0.3
GBLO Global Beta Low Beta ETF 30.9 29 41 7.2 +1.6
SPMV Invesco S&P 500 Minimum Variance ETF 29.0 10 60 5.6 -0.0
LGLV SPDR Russell 1000 Low Volatility ETF 28.1 12 58 5.5 -0.2
VOOV Vanguard S&P 500 Value ETF 27.8 10 60 7.2 +1.6
FDLO Fidelity Low Volatility Factor ETF 27.6 29 41 5.1 -0.5
IWX iShares Russell Top 200 Value ETF 26.6 20 50 6.7 +1.1
SPYV SPDR Portfolio S&P 500 Value ETF 26.6 4 66 7.2 +1.6
IVE iShares S&P 500 Value ETF 26.6 18 52 7.1 +1.5
VYM Vanguard High Dividend Yield Index ETF 26.5 6 64 7.4 +1.7
DLN WisdomTree U.S. LargeCap Dividend Fund 26.5 28 42 6.3 +0.7
FLQL Franklin LibertyQ U.S. Equity ETF 26.0 15 55 6.0 +0.4
QUS SPDR MSCI USA StrategicFactors ETF 25.8 15 55 5.7 +0.1
SCHV Schwab U.S. Large-Cap Value ETF 25.7 4 66 6.7 +1.1
PFM Invesco Dividend Achievers ETF 25.6 53 17 5.2 -0.4
PWV Invesco Dynamic Large Cap Value ETF 25.5 56 14 8.1 +2.5
DTD WisdomTree U.S.Total Dividend Fund 25.5 28 42 6.6 +0.9
SPXT ProShares S&P 500 Ex-Technology ETF 25.4 27 43 5.4 -0.2
MGV Vanguard Mega Cap Value ETF 25.3 7 63 7.1 +1.5
RBUS Nationwide Risk-Based U.S. Equity ETF 25.2 30 40 4.5 -1.1
IUSV iShares Core S&P U.S. Value ETF 25.2 4 66 7.3 +1.7
VTV Vanguard Value Index Fund 24.8 4 66 7.2 +1.6
FVL First Trust Value Line 100 Exchange-Traded Fund 24.8 70 0 5.2 -0.5
ACIO Aptus Collared Income Opportunity ETF 24.8 79 -9 4.2 -1.4
JMIN JPMorgan U.S. Minimum Volatility ETF 24.5 12 58 5.4 -0.2
FTCS First Trust Capital Strength ETF 24.2 58 12 4.7 -0.9
KLCD KFA Large Cap Quality Dividend Index ETF 24.2 42 28 5.3 -0.3
IWD iShares Russell 1000 Value ETF 24.1 19 51 6.8 +1.1
VONV Vanguard Russell 1000 Value Index Fund 24.1 8 62 6.9 +1.3
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 24.0 60 10 6.4 +0.7
EQWL Invesco Russell Top 200 Equal Weight ETF 23.5 25 45 6.1 +0.5
USDY Pacific Global US Equity Income ETF 23.5 29 41 7.0 +1.4
ACWV iShares Edge MSCI Min Vol Global ETF 23.3 20 50 5.7 +0.0
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 23.3 12 58 4.7 -1.0
JQUA JPMorgan U.S. Quality Factor ETF 23.3 12 58 5.2 -0.4
RAFE PIMCO RAFI ESG U.S. ETF 23.2 29 41 7.6 +1.9
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 22.9 29 41 5.8 +0.2
XLG Invesco S&P 500 Top 50 ETF 22.9 20 50 4.3 -1.3
ROUS Hartford Multifactor US Equity ETF 22.9 19 51 6.3 +0.7
QLV FlexShares US Quality Low Volatility Index Fund 22.6 22 48 4.7 -0.9
VFMV Vanguard U.S. Minimum Volatility ETF 22.6 13 57 4.3 -1.4
OUSA O'Shares FTSE US Quality Dividend ETF 22.5 48 22 5.7 +0.1
OEF iShares S&P 100 ETF 22.4 20 50 4.6 -1.0
DGRO iShares Core Dividend Growth ETF 22.4 8 62 6.6 +0.9
FNDX Schwab Fundamental U.S. Large Co. Index ETF 22.3 25 45 6.6 +0.9
PRF Invesco FTSE RAFI US 1000 ETF 22.2 39 31 6.7 +1.0
PBP Invesco S&P 500 BuyWrite ETF 22.0 49 21 4.8 -0.8
HSPX Global X S&P 500 Covered Call ETF 21.9 60 10 4.8 -0.9
MGC Vanguard Mega Cap Index Fund 21.9 7 63 5.0 -0.7
QDEF FlexShares Quality Dividend Defensive Index Fund 21.8 37 33 5.9 +0.2
NACP Impact Shares NAACP Minority Empowerment ETF 21.8 75 -5 4.7 -1.0
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 21.6 15 55 6.0 +0.3
BKLC BNY Mellon US Large Cap Core Equity ETF 21.6 0 70 4.9 -0.7
EPS WisdomTree U.S. Earnings 500 Fund 21.6 8 62 6.3 +0.6
IUS Invesco Strategic US ETF 21.5 19 51 6.3 +0.7
IWL iShares Russell Top 200 ETF 21.4 15 55 4.8 -0.9
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 21.4 20 50 5.1 -0.5
SPXE ProShares S&P 500 Ex-Energy ETF 21.4 27 43 5.1 -0.6
FQAL Fidelity Quality Factor ETF 21.3 29 41 5.3 -0.4
XYLG Global X S&P 500 Covered Call & Growth ETF 21.3 60 10 4.8 -0.8
SPY SPDR S&P 500 ETF Trust 21.1 9 61 5.1 -0.5
IVV iShares Core S&P 500 ETF 21.1 3 67 5.2 -0.4
SPLG SPDR Portfolio Large Cap ETF 21.1 3 67 5.2 -0.4
DIVB iShares U.S. Dividend & Buyback ETF 21.0 25 45 6.7 +1.1
STLV iShares Factors US Value Style ETF 21.0 25 45 7.1 +1.5
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 21.0 35 35 7.0 +1.4
VOO VANGUARD S&P 500 ETF 20.8 3 67 5.2 -0.4
VIG Vanguard Dividend Appreciation Index Fund 20.8 6 64 5.1 -0.5
VALQ American Century STOXX U.S. Quality Value ETF 20.8 29 41 8.7 +3.1
SPXN ProShares S&P 500 Ex-Financials ETF 20.7 27 43 4.8 -0.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 20.7 25 45 6.6 +1.0
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 20.7 10 60 5.2 -0.5
IQSU IQ Candriam ESG US Equity ETF 20.7 9 61 4.9 -0.8
SUSL iShares ESG MSCI USA Leaders ETF 20.7 10 60 5.2 -0.5
AFLG First Trust Active Factor Large Cap ETF 20.6 55 15 5.3 -0.4
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 20.5 19 51 5.9 +0.2
VSDA VictoryShares Dividend Accelerator ETF 20.5 35 35 4.7 -1.0
SCIU Global X Scientific Beta US ETF 20.4 19 51 0.0 -5.6
SPQQ Siren Large Cap Blend Index ETF 20.2 20 50 4.7 -0.9
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 20.1 7 63 5.0 -0.6
JKF iShares Morningstar Large Cap Value ETF 20.0 25 45 7.6 +1.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 20.0 2 68 5.1 -0.6
VV Vanguard Large-Cap Index Fund 19.9 4 66 5.0 -0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 19.8 9 61 5.4 -0.3
SPTM SPDR Portfolio Total Stock Market ETF 19.7 3 67 5.3 -0.3
PBUS Invesco PureBeta MSCI USA ETF 19.6 4 66 5.0 -0.6
RWL Invesco S&P 500 Revenue ETF 19.5 39 31 7.1 +1.5
WOMN Impact Shares YWCA Women's Empowerment ETF 19.5 75 -5 4.1 -1.6
MXDU Nationwide Maximum Diversification US Core Equity ETF 19.4 34 36 4.6 -1.1
SFY SoFi Select 500 ETF 19.4 0 70 4.9 -0.7
EFIV SPDR S&P 500 ESG ETF 19.4 10 60 4.9 -0.7
SNPE Xtrackers S&P 500 ESG ETF 19.4 10 60 4.9 -0.8
SCHX Schwab U.S. Large-Cap ETF 19.3 3 67 5.0 -0.7

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 Domestic 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 20.8 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 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.