First Trust Horizon Managed Volatility Domestic ETF
ALTAR
Score™
4.8% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
22.3x P/Sales
ratio
2.8x
P/BV
ratio
4.3x Div.
yield
1.9%


  • 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) $181
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 75
Wgt avg mkt cap (mns) $109,169
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ORACLE CORP 2.7 %
JOHNSON & JOHNSON 2.6 %
ACCENTURE PLC-CL A 2.6 %
AMPHENOL CORP-CL A 2.6 %
BROADRIDGE FINANCIAL SOLUTIO 2.5 %
TYLER TECHNOLOGIES INC 2.5 %
AT&T INC 2.4 %
VISA INC-CLASS A SHARES 2.3 %
HORMEL FOODS CORP 2.3 %
VERIZON COMMUNICATIONS INC 2.2 %
Total 24.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 91.5 %
BRITAIN 3.6 %
IRELAND 3.6 %
SWITZERLAND 1.1 %







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.
5.3% 5.3% -- -- 10.5%

Market Correlations
versus... Beta R-squared
S&P500 0.80 84%
MSCI EAFE 0.74 71%
MSCI Emg. Mkts. 0.61 61%

Technical Indicators
Recent close $28.73
30d moving avg. $28.70
Annualized volatility 16.5%
Short interest (ETF) 0.4%
Relative strength (RSI) 51

Liquidity measures
Avg. volume (thou.) 35
Turnover 0.6%
Bid/Ask (% of price) 0.14%
ADV underlying (mns) $27,656

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 96 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™: 4.8%


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 50.1 25 45 5.5 +0.7
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 39.0 25 45 5.8 +1.1
USMV iShares Edge MSCI Min Vol USA ETF 38.0 15 55 5.3 +0.5
LSLT Salt Low truBeta US Market ETF 36.1 60 10 5.7 +0.9
FLLV Franklin Liberty U.S. Low Volatility ETF 35.1 29 41 4.9 +0.1
FTCS First Trust Capital Strength ETF 34.3 58 12 5.0 +0.2
DEF Invesco Defensive Equity ETF 33.5 55 15 5.2 +0.4
FDLO Fidelity Low Volatility Factor ETF 31.6 29 41 4.9 +0.1
PFM Invesco Dividend Achievers ETF 30.0 53 17 5.0 +0.2
QLV FlexShares US Quality Low Volatility Index Fund 29.9 22 48 4.3 -0.5
GBLO Global Beta Low Beta ETF 29.5 29 41 7.3 +2.5
SPMV Invesco S&P 500 Minimum Variance ETF 29.3 10 60 5.5 +0.7
QUS SPDR MSCI USA StrategicFactors ETF 27.6 15 55 5.3 +0.5
VIG Vanguard Dividend Appreciation Index Fund 27.2 6 64 5.0 +0.2
OUSA O'Shares FTSE US Quality Dividend ETF 27.2 48 22 5.5 +0.7
ACIO Aptus Collared Income Opportunity ETF 27.2 79 -9 3.8 -1.0
LGLV SPDR Russell 1000 Low Volatility ETF 27.1 12 58 5.2 +0.4
JMIN JPMorgan U.S. Minimum Volatility ETF 26.5 12 58 5.3 +0.5
VOOV Vanguard S&P 500 Value ETF 26.2 10 60 6.6 +1.8
RBUS Nationwide Risk-Based U.S. Equity ETF 26.0 30 40 4.6 -0.2
FLQL Franklin LibertyQ U.S. Equity ETF 26.0 15 55 5.9 +1.1
DLN WisdomTree U.S. LargeCap Dividend Fund 25.6 28 42 6.1 +1.3
PSET Principal Price Setters Index ETF 24.5 15 55 4.6 -0.2
DGRO iShares Core Dividend Growth ETF 24.3 8 62 6.0 +1.2
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 24.1 12 58 4.9 +0.1
DTD WisdomTree U.S.Total Dividend Fund 24.0 28 42 6.2 +1.4
ACWV iShares MSCI Global Min Vol Factor ETF 23.6 20 50 5.5 +0.7
SCHV Schwab U.S. Large-Cap Value ETF 23.3 4 66 6.1 +1.3
CCOR Core Alternative ETF 23.1 109 -39 4.2 -0.6
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 22.8 35 35 6.5 +1.7
VYM Vanguard High Dividend Yield Index ETF 22.7 6 64 6.7 +1.9
MGV Vanguard Mega Cap Value ETF 22.6 7 63 6.5 +1.7
IWX iShares Russell Top 200 Value ETF 22.6 20 50 6.1 +1.3
SPYV SPDR Portfolio S&P 500 Value ETF 22.5 4 66 6.4 +1.6
IVE iShares S&P 500 Value ETF 22.5 18 52 6.3 +1.5
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 22.3 10 60 4.8 +0.0
SUSL iShares ESG MSCI USA Leaders ETF 22.2 10 60 4.8 +0.0
DSTL Distillate US Fundamental Stability & Value ETF 22.1 39 31 5.7 +0.9
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 22.0 60 10 3.5 -1.3
JQUA JPMorgan U.S. Quality Factor ETF 21.9 12 58 5.0 +0.3
FLRG Fidelity U.S. Multifactor ETF 21.8 29 41 5.8 +1.0
SPXT ProShares S&P 500 Ex-Technology ETF 21.8 27 43 4.9 +0.1
JOET Virtus Terranova US Quality Momentum ETF 21.7 29 41 4.6 -0.2
EQWL Invesco Russell Top 200 Equal Weight ETF 21.6 25 45 5.6 +0.8
VTV Vanguard Value Index Fund 21.5 4 66 6.6 +1.8
VSDA VictoryShares Dividend Accelerator ETF 21.4 35 35 4.6 -0.2
ESGV Vanguard ESG U.S. Stock ETF 21.2 12 58 4.5 -0.3
IUSV iShares Core S&P U.S. Value ETF 21.1 4 66 6.4 +1.6
EPS WisdomTree U.S. Earnings 500 Fund 21.0 8 62 5.9 +1.1
JKF iShares Morningstar Large Cap Value ETF 20.9 25 45 6.7 +1.9
DGRW WisdomTree U.S. Quality Dividend Growth Fund 20.5 28 42 6.0 +1.2
QUAL iShares MSCI Usa Quality Factor ETF 20.2 15 55 5.0 +0.2
KLCD KFA Large Cap Quality Dividend Index ETF 20.1 42 28 5.1 +0.3
DIVB iShares U.S. Dividend & Buyback ETF 20.1 25 45 5.9 +1.1
SIXA 6 Meridian Mega Cap Equity ETF 20.0 82 -12 5.8 +1.0
FVL First Trust Value Line 100 ETF 19.9 70 0 6.0 +1.2
MGC Vanguard Mega Cap Index Fund 19.9 7 63 4.6 -0.2
FQAL Fidelity Quality Factor ETF 19.8 29 41 5.0 +0.2
VONV Vanguard Russell 1000 Value Index Fund 19.8 8 62 6.2 +1.4
JKD iShares Morningstar Large-Cap ETF 19.8 20 50 4.7 -0.1
RAFE PIMCO RAFI ESG U.S. ETF 19.7 30 40 6.7 +1.9
HDV iShares Core High Dividend ETF 19.5 8 62 6.3 +1.5
XLG Invesco S&P 500 Top 50 ETF 19.4 20 50 4.0 -0.8
IWL iShares Russell Top 200 ETF 19.3 15 55 4.4 -0.4
BKLC BNY Mellon US Large Cap Core Equity ETF 19.3 0 70 4.4 -0.4
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 19.3 17 53 6.1 +1.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 19.2 20 50 4.8 -0.0
AFLG First Trust Active Factor Large Cap ETF 19.2 55 15 4.6 -0.2
PBP Invesco S&P 500 BuyWrite ETF 19.1 49 21 4.3 -0.5
DSI iShares MSCI KLD 400 Social ETF 19.1 25 45 4.5 -0.3
OEF iShares S&P 100 ETF 19.1 20 50 4.2 -0.6
RFDA RiverFront Dynamic US Dividend Advantage ETF 19.0 52 18 4.9 +0.1
IWD iShares Russell 1000 Value ETF 19.0 19 51 6.0 +1.2
XYLG Global X S&P 500 Covered Call & Growth ETF 18.9 60 10 4.4 -0.4
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 18.9 30 40 5.0 +0.3
PWV Invesco Dynamic Large Cap Value ETF 18.9 56 14 6.9 +2.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 18.8 19 51 5.3 +0.5
JCTR JPMorgan Carbon Transition U.S. Equity ETF 18.8 15 55 4.6 -0.2
AUSF Global X Adaptive U.S. Factor ETF 18.8 27 43 8.0 +3.3
SPXE ProShares S&P 500 Ex-Energy ETF 18.8 27 43 4.6 -0.2
SPY SPDR S&P 500 ETF Trust 18.6 9 61 4.7 -0.1
IVV iShares Core S&P 500 ETF 18.6 3 67 4.7 -0.1
SPLG SPDR Portfolio Large Cap ETF 18.5 3 67 4.7 -0.1
RHS Invesco S&P 500 Equal Weight Consumer Staples ETF 18.4 40 30 6.3 +1.5
SUSA iShares MSCI USA ESG Select ETF 18.2 25 45 4.2 -0.6
VOO VANGUARD S&P 500 ETF 18.2 3 67 4.8 0.0
YLDE ClearBridge Dividend Strategy ESG ETF 18.2 60 10 4.4 -0.4
FVD First Trust Value Line Dividend Index Fund 18.2 70 0 5.8 +1.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 18.1 20 50 4.6 -0.2
ROUS Hartford Multifactor US Equity ETF 18.1 19 51 5.8 +1.1
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 18.0 9 61 4.8 -0.0
NULV Nuveen ESG Large-Cap Value ETF 18.0 35 35 6.1 +1.3
VTRN Victory Portfolios II VictoryShares Top Veteran Employers ET 18.0 60 10 6.2 +1.4
XVV iShares ESG Screened S&P 500 ETF 17.7 8 62 4.9 +0.1
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 17.7 75 -5 5.3 +0.5
DURA VanEck Vectors Morningstar Durable Dividend ETF 17.7 29 41 8.1 +3.3

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 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 21.1 %
Divided by: Fwd. P/BV 3.8 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 4.8 %
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.