First Trust Horizon Managed Volatility Domestic ETF
ALTAR
Score™
6.6% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
15.5x P/Sales
ratio
1.8x
P/BV
ratio
3.5x Div.
yield
2.5%


  • 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) $179
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) $72,552
Large cap (>$10bn) 86.7%
Mid cap ($2-10bn) 13.3%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
COCA-COLA CO/THE 2.6 %
AVERY DENNISON CORP 2.5 %
VERIZON COMMUNICATIONS INC 2.5 %
EXPEDITORS INTL WASH INC 2.5 %
3M CO 2.5 %
CERNER CORP 2.5 %
WILLIS TOWERS WATSON PUBLIC LIMITE 2.4 %
SMITH (A.O.) CORP 2.4 %
C.H. ROBINSON WORLDWIDE INC 2.4 %
AMAZON.COM INC 2.4 %
Total 24.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 89.5 %
BRITAIN 5.0 %
IRELAND 2.8 %
SWITZERLAND 1.8 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru March 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-21.8% -12.2% -- -- 3.9%

Market Correlations
versus... Beta R-squared
S&P500 0.82 80%
MSCI EAFE 0.80 73%
MSCI Emg. Mkts. 0.57 54%

Technical Indicators
Recent close $21.36
30d moving avg. $24.08
Annualized volatility 14.0%
Short interest (ETF) 0.6%
Relative strength (RSI) 35

Liquidity measures
Avg. volume (thou.) 142
Turnover 1.7%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $61,254

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™: 6.6%


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
(%)
KRMA Global X Conscious Companies ETF 22.7 43 27 7.3 +0.7
FLQL Franklin LibertyQ U.S. Equity ETF 21.9 15 55 8.0 +1.4
SDY SPDR S&P Dividend ETF 20.6 35 35 8.2 +1.5
OUSA O'Shares FTSE US Quality Dividend ETF 20.5 48 22 7.0 +0.3
NOBL ProShares S&P 500 Dividend Aristocrats ETF 20.5 35 35 7.5 +0.8
KNG Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF 20.5 75 -5 7.0 +0.4
VALQ American Century STOXX U.S. Quality Value ETF 20.1 29 41 11.5 +4.9
JQUA JPMorgan U.S. Quality Factor ETF 20.0 12 58 6.6 -0.0
SPXT ProShares S&P 500 Ex-Technology ETF 19.6 27 43 7.3 +0.7
RAFE PIMCO RAFI ESG U.S. ETF 19.4 29 41 10.3 +3.7
DEF Invesco Defensive Equity ETF 19.3 55 15 6.4 -0.3
EQWL Invesco Russell Top 200 Equal Weight ETF 19.3 25 45 7.5 +0.9
AFLG First Trust Active Factor Large Cap ETF 19.0 55 15 7.7 +1.1
RBUS Nationwide Risk-Based U.S. Equity ETF 18.9 30 40 7.2 +0.6
ESGU iShares MSCI USA ESG Optimized ETF 18.9 15 55 6.7 +0.0
HSPX Global X S&P 500 Covered Call ETF 18.9 65 5 6.2 -0.5
CATH Global X S&P 500 Catholic Values Custom ETF 18.8 29 41 7.0 +0.4
PFM Invesco Dividend Achievers ETF 18.8 54 16 6.4 -0.2
USMV iShares Edge MSCI Min Vol USA ETF 18.8 15 55 6.8 +0.2
BVAL Brand Value ETF 18.8 65 5 8.9 +2.3
FLLV Franklin Liberty U.S. Low Volatility ETF 18.7 29 41 7.1 +0.5
IQSU IQ Candriam ESG US Equity ETF 18.7 9 61 6.7 +0.1
RYH Invesco S&P 500 Equal Weight Health Care ETF 18.6 40 30 7.9 +1.3
PBP Invesco S&P 500 BuyWrite ETF 18.6 49 21 6.5 -0.1
DLN WisdomTree U.S. LargeCap Dividend Fund 18.6 28 42 8.0 +1.4
SCHV Schwab U.S. Large-Cap Value ETF 18.6 4 66 9.0 +2.3
QDEF FlexShares Quality Dividend Defensive Index Fund 18.5 37 33 7.9 +1.3
RNLC Large Cap US Equity Select ETF 18.4 60 10 8.2 +1.6
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 18.3 49 21 7.6 +1.0
VSDA VictoryShares Dividend Accelerator ETF 18.2 35 35 5.8 -0.9
SPXN ProShares S&P 500 Ex-Financials ETF 18.1 27 43 6.6 -0.0
SCHD Schwab U.S. Dividend Equity ETF 18.1 6 64 9.2 +2.6
DTN WisdomTree U.S. Dividend ex-Financials Fund 18.1 38 32 10.2 +3.6
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 18.0 30 40 8.5 +1.9
VTV Vanguard Value Index Fund 17.8 4 66 9.1 +2.5
SPXE ProShares S&P 500 Ex-Energy ETF 17.8 27 43 7.0 +0.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 17.8 20 50 7.1 +0.5
FDLO Fidelity Low Volatility Factor ETF 17.7 29 41 6.5 -0.1
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 17.7 25 45 7.7 +1.0
JMIN JPMorgan U.S. Minimum Volatility ETF 17.7 12 58 7.2 +0.5
NACP Impact Shares NAACP Minority Empowerment ETF 17.6 75 -5 6.2 -0.4
USMF WisdomTree U.S. Multifactor Fund 17.6 28 42 8.1 +1.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 17.6 9 61 7.3 +0.7
OEF iShares S&P 100 ETF 17.6 20 50 6.3 -0.3
QSY WisdomTree U.S. LargeCap Value Fund 17.5 38 32 9.6 +2.9
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 17.5 12 58 6.3 -0.3
VYM Vanguard High Dividend Yield Index ETF 17.5 6 64 8.9 +2.3
SPY SPDR S&P 500 ETF Trust 17.5 9 61 7.1 +0.4
SUSA iShares MSCI USA ESG Select ETF 17.4 25 45 6.2 -0.4
VOO VANGUARD S&P 500 ETF 17.4 3 67 7.1 +0.5
QUS SPDR MSCI USA StrategicFactors ETF 17.4 15 55 7.3 +0.6
SPLG SPDR Portfolio Large Cap ETF 17.4 3 67 7.1 +0.5
IVV iShares Core S&P 500 ETF 17.4 4 66 7.1 +0.5
VOOV Vanguard S&P 500 Value ETF 17.4 15 55 9.2 +2.5
IUS Invesco Strategic US ETF 17.3 19 51 7.9 +1.3
NULC Nuveen ESG Large-Cap ETF 17.3 20 50 6.9 +0.3
SPYV SPDR Portfolio S&P 500 Value ETF 17.3 4 66 9.2 +2.6
XLG Invesco S&P 500 Top 50 ETF 17.3 20 50 5.9 -0.7
MGV Vanguard Mega Cap Value ETF 17.3 7 63 8.8 +2.2
IVE iShares S&P 500 Value ETF 17.3 18 52 9.1 +2.5
IWL iShares Russell Top 200 ETF 17.2 15 55 6.6 -0.0
DTD WisdomTree U.S.Total Dividend Fund 17.1 28 42 8.5 +1.8
RSP Invesco S&P 500 Equal Weight ETF 17.1 20 50 8.8 +2.1
MGC Vanguard Mega Cap Index Fund 17.1 7 63 6.8 +0.2
RFDA RiverFront Dynamic US Dividend Advantage ETF 17.0 52 18 7.9 +1.2
ESGV Vanguard ESG U.S. Stock ETF 17.0 12 58 7.0 +0.4
VV Vanguard Large-Cap Index Fund 17.0 4 66 7.0 +0.3
ESG FlexShares STOXX US ESG Impact Index Fund 17.0 32 38 6.8 +0.1
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 17.0 17 53 9.0 +2.3
KLCD KFA Large Cap Quality Dividend Index ETF 17.0 41 29 6.6 -0.0
UTRN Vesper U.S. Large Cap Short-Term Reversal Strategy ETF 16.8 75 -5 7.5 +0.9
BBUS JP Morgan Betabuilders U.S. Equity ETF 16.7 2 68 7.1 +0.4
ROUS Hartford Multifactor US Equity ETF 16.7 19 51 9.2 +2.6
DHS WisdomTree U.S. High Dividend Fund 16.7 38 32 10.5 +3.8
LSLT Salt Low truBeta US Market ETF 16.6 0 70 8.5 +1.9
PBUS Invesco PureBeta MSCI USA ETF 16.6 4 66 7.2 +0.5
JHML John Hancock Multifactor Large Cap ETF 16.5 34 36 7.5 +0.8
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 16.5 60 10 5.1 -1.5
EXT WisdomTree U.S. Total Earnings Fund 16.5 28 42 7.7 +1.0
IUSV iShares Core S&P U.S. Value ETF 16.5 4 66 9.4 +2.7
NULV Nuveen ESG Large-Cap Value ETF 16.4 35 35 9.3 +2.7
QDF FlexShares Quality Dividend Index Fund 16.4 37 33 8.8 +2.2
MXDU Nationwide Maximum Diversification US Core Equity ETF 16.4 34 36 6.8 +0.2
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 16.4 20 50 6.6 -0.0
SCHX Schwab U.S. Large-Cap ETF 16.4 3 67 7.0 +0.4
RWL Invesco S&P 500 Revenue ETF 16.4 39 31 9.2 +2.6
EPS WisdomTree U.S. Earnings 500 Fund 16.4 8 62 8.5 +1.8
DVOP Source Dividend Opportunity ETF 16.3 50 20 11.2 +4.6
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 16.3 29 41 8.2 +1.6
SPTM SPDR Portfolio Total Stock Market ETF 16.3 3 67 7.3 +0.6
WOMN Impact Shares YWCA Women's Empowerment ETF 16.2 75 -5 6.2 -0.4
LVUS Hartford Multifactor Low Volatility US Equity ETF 16.2 19 51 7.6 +1.0
SPDV AAM S&P 500 High Dividend Value ETF 16.2 29 41 14.5 +7.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 16.2 30 40 8.1 +1.4
VONE Vanguard Russell 1000 ETF 16.1 8 62 7.0 +0.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 16.1 25 45 8.3 +1.7
IWB iShares Russell 1000 ETF 16.0 15 55 7.0 +0.3
RVRS Reverse Cap Weighted U.S. Large Cap ETF 16.0 29 41 10.6 +3.9
PSET Principal Price Setters Index ETF 16.0 29 41 7.1 +0.5
SCHK Schwab 1000 Index ETF 16.0 5 65 7.0 +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 24.2 %
Divided by: Fwd. P/BV 3.3 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.69 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.