First Trust Multi-Manager Large Growth ETF
ALTAR
Score™		 2.1% info Recommen-
dation		 AVOID
2024E    2025E
P/E
ratio		 34.9x P/Sales
ratio		 5.4x
P/BV
ratio		 7.3x Div.
yield		 0.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
MMLG is actively managed to invest in US large cap growth stocks. Stock selections are made by two portfolio managers.

FUND BASICS
Category US Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Jul 21, 2020
Assets (mns) $65
Currency USD
Expense ratio 85 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 78
Wgt avg mkt cap (mns) $928,927
Large cap (>$10bn) 98.8%
Mid cap ($2-10bn) 1.2%
Small cap (<$2bn) 0.0%
Developed mkts 99.3%
Emerging mkts 0.7%

TOP TEN HOLDINGS
MICROSOFT CORP 8.8 %
AMAZON.COM INC 7.7 %
NVIDIA CORP 6.9 %
META PLATFORMS INC 4.7 %
SERVICENOW INC 3.8 %
APPLE INC 3.3 %
DEXCOM INC 2.7 %
ALPHABET INC. CLASS A 2.7 %
VISA INC. CLASS A 2.5 %
US DOLLAR 2.2 %
Total 45.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 87.8 %
NETHERLANDS 2.2 %
CAYMAN ISLANDS 2.0 %
AUSTRALIA 1.7 %
CANADA 1.4 %
SINGAPORE 1.2 %
IRELAND 0.6 %
SWITZERLAND 0.6 %
BERMUDA 0.4 %


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.
12.3% 41.1% -- -- 7.2%

Market Correlations
versus... Beta R-squared
S&P500 1.26 86%
MSCI EAFE 1.09 59%
MSCI Emg. Mkts. 0.82 36%

Technical Indicators
Recent close $26.11
30d moving avg. $22.38
Annualized volatility 24.2%
Short interest (ETF) 0.2%
Short interest (Underlying) 2.5%
Relative strength (RSI) 87

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.4%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $142,820

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 35 potential alternatives to the First Trust Multi-Manager Large Growth ETF ETF based on the alternatives' overlap in portfolio holdings with MMLG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: MMLG Expense: 85 bp ALTAR Score™: 2.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH MMLG
Ticker Fund
Name		 Overlap1
vs MMLG
(%)		 Expense
ratio
(bp)		 Savings
vs MMLG
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs MMLG
(%)
QYLD Global X NASDAQ 100 Covered Call ETF 43.8 60 25 4.2 +2.1
QRMI Global X NASDAQ 100 Risk Managed Income ETF 43.7 60 25 4.2 +2.1
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 43.7 60 25 4.2 +2.1
QTR Global X NASDAQ 100 Tail Risk ETF 43.2 26 59 4.6 +2.5
NUSI Nationwide Nasdaq-100 Risk-Managed Income ETF 42.9 68 17 4.2 +2.1
QCLR Global X NASDAQ 100 Collar 95-110 ETF 42.8 25 60 4.6 +2.4
XYLD Global X S&P 500 Covered Call ETF 40.4 60 25 4.7 +2.5
XYLG Global X S&P 500 Covered Call & Growth ETF 40.1 60 25 4.7 +2.6
XRMI Global X S&P 500 Risk Managed Income ETF 40.1 60 25 4.7 +2.6
PBP Invesco S&P 500 BuyWrite ETF 39.8 49 36 4.8 +2.7
XYLE Global X S&P 500 ESG Covered Call ETF 39.7 60 25 4.9 +2.8
XTR Global X S&P 500 Tail Risk ETF 39.6 26 59 5.2 +3.0
EFIV SPDR S&P 500 ESG ETF 39.4 10 75 5.3 +3.2
XCLR Global X S&P 500 Collar 95-110 ETF 39.4 25 60 5.2 +3.0
QYLE Global X Nasdaq 100 ESG Covered Call ETF 39.2 60 25 4.4 +2.2
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 38.9 35 50 4.5 +2.3
SFLR Innovator Equity Managed Floor ETF 38.2 89 -4 4.3 +2.1
STLG iShares Factors US Growth Style ETF 37.3 25 60 6.3 +4.1
FTQI First Trust Nasdaq BuyWrite Income ETF 36.1 75 10 4.0 +1.8
FTHI First Trust BuyWrite Income ETF 34.8 75 10 5.5 +3.3
ACIO Aptus Collared Investment Opportunity ETF 34.2 79 6 4.3 +2.2
SIXH ETC 6 Meridian Hedged Equity Index Option ETF 24.6 82 3 5.6 +3.4
THNQ ROBO Global Artificial Intelligence ETF 24.4 68 17 1.8 -0.4
TYLG Global X Information Technology Covered Call & Growth ETF 22.0 60 25 4.7 +2.6
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 21.0 58 27 2.6 +0.4
DJIA Global X Dow 30 Covered Call ETF 17.8 60 25 5.4 +3.2
DYLG Global X Dow 30 Covered Call & Growth ETF 17.6 60 25 5.4 +3.3
LCG Sterling Capital Focus Equity ETF 17.2 59 26 3.4 +1.3
DIVO Amplify CWP Enhanced Dividend Income ETF 14.3 55 30 5.7 +3.5
CCOR Core Alternative ETF 11.6 107 -22 5.0 +2.9
XVOL Acruence Active Hedge U.S. Equity ETF 8.6 83 2 6.1 +3.9
FYLG Global X Financials Covered Call & Growth ETF 5.3 60 25 5.5 +3.3
HYLG Global X Health Care Covered Call & Growth ETF 5.2 60 25 6.6 +4.5
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 2.0 75 10 5.6 +3.5
IDVO Amplify International Enhanced Dividend Income ETF 0.9 65 20 9.0 +6.8

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

  2019 2020 2021 2022 2023 2024E 2025E
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
  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 Multi-Manager Large Growth ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 20.5 %
Divided by: Fwd. P/BV 6.9 x
Less: Expense ratio 85 bp
Equals: ALTAR Score 2.1 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.46 CATEGORY
AVERAGE		 1.55
 
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.