ETF Research Center

First Trust Indxx Medical Devices ETF

ALTAR
Score™

3.9%

Recommen-
dation

NEUTRAL

2024E 2025E
P/E ratio	25.7x	P/Sales ratio	3.6x
P/BV ratio	3.1x	Div. yield	0.9%

Description
Performance
Comps
Fundamentals
Valuation
Rating

MDEV tracks an equal-weighted index that gives global exposure to the medical equipment industry.

FUND BASICS
Category	Global Equities
Fund Sponsor	First Trust
Website	www.ftportfolios.com/retail/etf/etfsummary.aspx?Ticker=MDEV
Inception date	Jun 22, 2021
Assets (mns)	$3
Currency	USD
Expense ratio	70 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Equal
Index replication
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	55
Wgt avg mkt cap (mns)	$41,322
Large cap (>$10bn)	83.4%
Mid cap ($2-10bn)	14.7%
Small cap (<$2bn)	0.0%
Developed mkts	99.3%
Emerging mkts	0.7%

TOP TEN HOLDINGS
Total	0.0 %
	0.0 %

TOP COUNTRY EXPOSURE
		0.0 %

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.
2.6%	1.8%	--	--	-3.9%

Market Correlations
versus...	Beta	R-squared
S&P500	1.14	81%
MSCI EAFE	1.23	92%
MSCI Emg. Mkts.	0.92	56%

Technical Indicators
Recent close	$19.99
30d moving avg.	$18.30
Annualized volatility	24.6%
Short interest (ETF)	7.3%
Relative strength (RSI)	75

Liquidity measures
Avg. volume (thou.)	1
Turnover	0.7%
Bid/Ask (% of price)	0.31%
ADV underlying (mns)	$10,563

Distributions

There were no matches found with other funds under coverage.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

	2019	2020	2021	2022	2023	2024E	2025E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

Content on this tab for subscribers only

VALUATION METRICS

	2023	2024E	2025E
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 Indxx Medical Devices 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	3.0	x
Less: Expense ratio	70	bp
Equals: ALTAR Score	3.9	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.59	CATEGORY AVERAGE	1.50

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.