First Trust Horizon Managed Volatility Domestic ETF
ALTAR
Score™
4.7% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
22.6x P/Sales
ratio
2.6x
P/BV
ratio
4.7x Div.
yield
1.8%


  • 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) $211
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) $169,889
Large cap (>$10bn) 98.1%
Mid cap ($2-10bn) 1.9%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
AMAZON.COM INC 2.9 %
EBAY INC 2.8 %
DOLLAR GENERAL CORP 2.4 %
KIMBERLY-CLARK CORP 2.3 %
CERNER CORP 2.3 %
EQUINIX INC 2.2 %
VERIZON COMMUNICATIONS INC 2.2 %
INTL BUSINESS MACHINES CORP 2.1 %
MARSH & MCLENNAN COS 2.0 %
GARMIN LTD 1.9 %
Total 23.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.1 %
BRITAIN 2.7 %
SWITZERLAND 1.9 %








HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-8.0% -2.6% -- -- 8.1%

Market Correlations
versus... Beta R-squared
S&P500 0.84 84%
MSCI EAFE 0.85 74%
MSCI Emg. Mkts. 0.59 56%

Technical Indicators
Recent close $26.23
30d moving avg. $25.46
Annualized volatility 15.5%
Short interest (ETF) 0.2%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 163
Turnover 2.0%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $77,410

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 4.7%


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 53.9 25 45 5.6 +0.9
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 42.3 25 45 5.9 +1.2
DEF Invesco Defensive Equity ETF 41.4 55 15 5.0 +0.4
FLLV Franklin Liberty U.S. Low Volatility ETF 34.9 29 41 5.8 +1.1
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF 34.5 60 10 3.3 -1.4
FVL First Trust Value Line 100 Exchange-Traded Fund 34.1 70 0 5.1 +0.4
LSLT Salt Low truBeta US Market ETF 32.7 29 41 6.0 +1.3
USMV iShares Edge MSCI Min Vol USA ETF 32.3 15 55 5.5 +0.8
SPMV Invesco S&P 500 Minimum Variance ETF 31.3 10 60 5.8 +1.1
AFLG First Trust Active Factor Large Cap ETF 30.6 55 15 5.5 +0.8
FDLO Fidelity Low Volatility Factor ETF 30.2 29 41 5.1 +0.4
ACIO Aptus Collared Income Opportunity ETF 29.1 79 -9 4.3 -0.4
FLQL Franklin LibertyQ U.S. Equity ETF 27.8 15 55 6.2 +1.5
BVAL Brand Value ETF 27.6 65 5 6.0 +1.3
MMTM SPDR S&P 1500 Momentum Tilt ETF 27.4 12 58 4.8 +0.2
SPXE ProShares S&P 500 Ex-Energy ETF 26.9 27 43 5.2 +0.5
PBP Invesco S&P 500 BuyWrite ETF 26.9 49 21 5.0 +0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 26.8 20 50 5.3 +0.6
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 26.8 9 61 5.5 +0.8
IWL iShares Russell Top 200 ETF 26.7 15 55 5.0 +0.3
MGC Vanguard Mega Cap Index Fund 26.6 7 63 5.2 +0.5
HSPX Global X S&P 500 Covered Call ETF 26.6 65 5 4.8 +0.1
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 26.6 29 41 6.2 +1.5
JQUA JPMorgan U.S. Quality Factor ETF 26.6 12 58 5.2 +0.5
BKLC BNY Mellon US Large Cap Core Equity ETF 26.5 0 70 5.1 +0.5
VOO VANGUARD S&P 500 ETF 26.5 3 67 5.4 +0.7
SPY SPDR S&P 500 ETF Trust 26.5 9 61 5.3 +0.6
IVV iShares Core S&P 500 ETF 26.5 4 66 5.3 +0.6
SPLG SPDR Portfolio Large Cap ETF 26.5 3 67 5.3 +0.7
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 26.2 60 10 6.1 +1.4
SPXT ProShares S&P 500 Ex-Technology ETF 26.2 27 43 5.6 +0.9
IQSU IQ Candriam ESG US Equity ETF 26.2 9 61 5.0 +0.3
RBUS Nationwide Risk-Based U.S. Equity ETF 26.0 30 40 5.0 +0.3
DLN WisdomTree U.S. LargeCap Dividend Fund 25.9 28 42 6.3 +1.6
VV Vanguard Large-Cap Index Fund 25.8 4 66 5.2 +0.5
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 25.8 7 63 5.1 +0.4
QLV FlexShares US Quality Low Volatility Index Fund 25.7 22 48 4.8 +0.1
BBUS JP Morgan Betabuilders U.S. Equity ETF 25.6 2 68 5.2 +0.5
PSET Principal Price Setters Index ETF 25.2 29 41 4.6 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 25.2 27 43 4.9 +0.2
SPTM SPDR Portfolio Total Stock Market ETF 25.2 3 67 5.5 +0.8
PBUS Invesco PureBeta MSCI USA ETF 25.1 4 66 5.2 +0.5
SCHX Schwab U.S. Large-Cap ETF 25.1 3 67 5.2 +0.5
FTCS First Trust Capital Strength ETF 25.1 58 12 4.8 +0.1
QDEF FlexShares Quality Dividend Defensive Index Fund 25.1 37 33 5.8 +1.1
DTD WisdomTree U.S.Total Dividend Fund 25.0 28 42 6.6 +1.9
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 24.9 15 55 6.1 +1.4
QUS SPDR MSCI USA StrategicFactors ETF 24.9 15 55 5.8 +1.1
LVUS Hartford Multifactor Low Volatility US Equity ETF 24.9 19 51 6.0 +1.4
OEF iShares S&P 100 ETF 24.7 20 50 4.7 0.0
VONE Vanguard Russell 1000 ETF 24.7 8 62 5.2 +0.5
SFY SoFi Select 500 ETF 24.7 0 70 5.2 +0.5
FDMO Fidelity Momentum Factor ETF 24.6 29 41 3.8 -0.9
JHML John Hancock Multifactor Large Cap ETF 24.6 29 41 5.5 +0.8
SCHK Schwab 1000 Index ETF 24.6 5 65 5.2 +0.5
EPS WisdomTree U.S. Earnings 500 Fund 24.5 8 62 6.4 +1.7
IWB iShares Russell 1000 ETF 24.5 15 55 5.1 +0.4
FQAL Fidelity Quality Factor ETF 24.5 29 41 5.4 +0.7
LGLV SPDR Russell 1000 Low Volatility ETF 24.5 12 58 5.7 +1.0
IYY iShares Dow Jones U.S. ETF 24.4 20 50 5.1 +0.4
EXT WisdomTree U.S. Total Earnings Fund 24.3 28 42 5.2 +0.5
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF 24.3 35 35 6.7 +2.0
SNPE Xtrackers S&P 500 ESG ETF 24.3 11 59 5.0 +0.3
CATH Global X S&P 500 Catholic Values Custom ETF 24.2 29 41 5.1 +0.5
ESGU iShares MSCI USA ESG Optimized ETF 24.2 15 55 5.0 +0.3
FTHI First Trust High Income ETF 24.2 85 -15 4.9 +0.2
SPXV ProShares S&P 500 Ex-Health Care ETF 24.1 27 43 4.9 +0.2
DYNF BlackRock U.S. Equity Factor Rotation ETF 24.1 30 40 6.5 +1.8
FTLB First Trust Hedged BuyWrite Income ETF 24.0 85 -15 4.9 +0.3
QLC FlexShares US Quality Large Cap Index Fund 23.9 32 38 5.3 +0.6
PFM Invesco Dividend Achievers ETF 23.9 54 16 5.4 +0.7
WOMN Impact Shares YWCA Women's Empowerment ETF 23.8 75 -5 4.4 -0.3
PRF Invesco FTSE RAFI US 1000 ETF 23.8 39 31 6.8 +2.1
FNDX Schwab Fundamental U.S. Large Co. Index ETF 23.8 25 45 6.5 +1.8
VTHR Vanguard Russell 3000 Index Fund 23.8 10 60 5.1 +0.4
SCHB Schwab U.S. Broad Market ETF 23.8 3 67 5.2 +0.5
VTI Vanguard Total Stock Market Index Fund 23.7 3 67 5.1 +0.4
ITOT iShares Core S&P Total U.S. Stock Market ETF 23.7 3 67 5.1 +0.4
XLG Invesco S&P 500 Top 50 ETF 23.7 20 50 4.4 -0.3
JMOM JPMorgan U.S. Momentum Factor ETF 23.6 12 58 3.8 -0.9
IWV iShares Russell 3000 ETF 23.6 20 50 5.0 +0.3
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 23.6 20 50 4.9 +0.2
ECOZ TrueMark ESG Active Opportunities ETF 23.4 58 12 4.2 -0.5
JMIN JPMorgan U.S. Minimum Volatility ETF 23.4 12 58 5.8 +1.1
IUS Invesco Strategic US ETF 23.4 19 51 6.6 +1.9
EQWL Invesco Russell Top 200 Equal Weight ETF 23.3 25 45 6.0 +1.3
AIEQ AI Powered Equity ETF 23.3 87 -17 3.6 -1.1
VOOV Vanguard S&P 500 Value ETF 22.9 15 55 7.3 +2.6
SPYV SPDR Portfolio S&P 500 Value ETF 22.8 4 66 7.4 +2.7
IVE iShares S&P 500 Value ETF 22.7 18 52 7.2 +2.5
ESGV Vanguard ESG U.S. Stock ETF 22.7 12 58 5.1 +0.4
NACP Impact Shares NAACP Minority Empowerment ETF 22.7 75 -5 4.5 -0.2
FNDB Schwab Fundamental U.S. Broad Market Index ETF 22.6 25 45 6.5 +1.8
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 22.6 75 -5 3.7 -1.0
DIVB iShares U.S. Dividend & Buyback ETF 22.6 25 45 6.5 +1.9
NULC Nuveen ESG Large-Cap ETF 22.3 20 50 4.9 +0.2
RWL Invesco S&P 500 Revenue ETF 22.3 39 31 7.2 +2.5
RFDA RiverFront Dynamic US Dividend Advantage ETF 22.3 52 18 5.0 +0.3
ESG FlexShares STOXX US ESG Impact Index Fund 22.1 32 38 5.0 +0.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 22.0 60 10 4.3 -0.4

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:

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 23.4 %
Divided by: Fwd. P/BV 4.3 x
Less: Expense ratio 70 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
1.52
 
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.