First Trust Riverfront Dynamic Developed International ETF
ALTAR
Score™		 5.6% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 19.4x P/Sales
ratio		 1.7x
P/BV
ratio		 2.2x Div.
yield		 2.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The First Trust RiverFront Dynamic Developed International ETF is an actively-managed fund that seeks capital appreciation from developed-country stocks (including the US) selected using a factor approach. The manager has discretion to currency-hedge up to 100% of the portfolio.

FUND BASICS
Category International Equities
Fund Sponsor First Trust
Website www.ftportfolios.com
Inception date Apr 14, 2016
Assets (mns) $141
Currency USD
Expense ratio 83 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 134
Wgt avg mkt cap (mns) $67,085
Large cap (>$10bn) 79.7%
Mid cap ($2-10bn) 19.6%
Small cap (<$2bn) 0.7%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NESTLE SA-REG 3.5 %
ROCHE HOLDING AG-GENUSSCHEIN 2.7 %
ASML HOLDING NV 1.9 %
NOVO NORDISK A/S-B 1.8 %
AIA GROUP LTD 1.6 %
SONY CORP 1.5 %
UNILEVER NV 1.5 %
GLAXOSMITHKLINE PLC 1.4 %
SIEMENS AG-REG 1.4 %
UNILEVER PLC 1.4 %
Total 18.7 %

TOP COUNTRY EXPOSURE
JAPAN 16.5 %
BRITAIN 15.7 %
SWITZERLAND 13.2 %
NETHERLANDS 6.8 %
SWEDEN 6.3 %
FRANCE 6.2 %
GERMANY 4.4 %
AUSTRALIA 3.8 %
DENMARK 3.6 %
HONG KONG 3.0 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-3.3% 8.0% -- -- 5.3%

Market Correlations
versus... Beta R-squared
S&P500 0.89 83%
MSCI EAFE 1.04 96%
MSCI Emg. Mkts. 0.75 80%

Technical Indicators
Recent close $56.49
30d moving avg. $56.99
Annualized volatility 17.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 43

Liquidity measures
Avg. volume (thou.) 11
Turnover 0.4%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $8,308

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the First Trust Riverfront Dynamic Developed International ETF ETF based on the alternatives' overlap in portfolio holdings with RFDI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: RFDI Expense: 83 bp ALTAR Score™: 5.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH RFDI
Ticker Fund
Name		 Overlap1
vs RFDI
(%)		 Expense
ratio
(bp)		 Savings
vs RFDI
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs RFDI
(%)
RFEU First Trust Riverfront Dynamic Europe ETF 42.5 83 0 5.9 +0.2
IQLT iShares Edge MSCI Intl Quality Factor ETF 33.0 30 53 5.9 +0.3
IQSI IQ Candriam ESG International Equity ETF 30.0 15 68 7.3 +1.7
EFG iShares MSCI EAFE Growth ETF 29.3 40 43 4.4 -1.2
IDHQ Invesco S&P International Developed Quality ETF 28.7 29 54 5.0 -0.7
IEV iShares Europe ETF 28.7 59 24 6.8 +1.2
BBEU JPMorgan BetaBuilders Europe ETF 28.2 9 74 7.4 +1.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 28.1 30 53 0.0 -5.6
FLEE Franklin FTSE Europe ETF 28.1 9 74 7.0 +1.4
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 27.6 30 53 0.0 -5.6
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 27.4 25 58 6.4 +0.8
FLEH Franklin FTSE Europe Hedged ETF 27.3 9 74 7.2 +1.6
DBEU Xtrackers MSCI Europe Hedged Equity ETF 27.3 45 38 6.6 +1.0
QEFA SPDR MSCI EAFE Quality Mix ETF 27.2 30 53 6.8 +1.2
DOL WisdomTree International LargeCap Dividend Fund 26.6 48 35 8.7 +3.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 26.5 14 69 6.8 +1.2
IEUR iShares Core MSCI Europe ETF 26.1 9 74 7.2 +1.6
VGK Vanguard FTSE Europe ETF 26.1 8 75 7.4 +1.8
ESGD iShares MSCI EAFE ESG Optimized ETF 26.1 20 63 6.9 +1.3
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 25.7 20 63 7.0 +1.4
GSID Goldman Sachs MarketBeta International Equity ETF 25.7 20 63 7.3 +1.7
EFA iShares MSCI EAFE ETF 25.6 32 51 7.0 +1.4
FEU SPDR Portfolio Europe ETF 25.6 9 74 7.3 +1.7
OEUR O'shares FTSE Europe Quality Dividend ETF 25.2 48 35 6.7 +1.1
BKIE BNY Mellon International Equity ETF 25.2 4 79 7.3 +1.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 24.8 35 48 6.8 +1.2
FDEV Fidelity Targeted International Factor ETF 24.2 39 44 6.4 +0.7
PDEV Principal International Multi-Factor Core Index ETF 24.1 25 58 7.9 +2.3
HFXI IQ 50 Percent Hedged FTSE International ETF 23.9 20 63 7.4 +1.8
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 23.6 7 76 7.4 +1.8
JHMD John Hancock Multifactor Developed International ETF 23.3 39 44 7.3 +1.7
FIVA Fidelity International Value Factor ETF 22.8 39 44 9.7 +4.1
QINT American Century Quality Diversified International ETF 22.6 39 44 6.0 +0.4
IEFA iShares Core MSCI EAFE ETF 22.6 7 76 7.2 +1.6
IQDG WisdomTree International Quality Dividend Growth Fund 22.2 42 41 6.2 +0.5
IHDG WisdomTree International Hedged Quality Dividend Growth Fund 22.1 58 25 6.0 +0.4
GSIE Goldman Sachs ActiveBeta International Equity ETF 22.1 25 58 6.6 +1.0
DWM WisdomTree International Equity Fund 21.9 48 35 8.3 +2.7
SCHF Schwab International Equity ETF 21.8 6 77 7.3 +1.7
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 21.7 35 48 8.6 +3.0
IMTM iShares Edge MSCI Intl Momentum Factor ETF 21.6 30 53 4.3 -1.3
IDMO Invesco S&P International Developed Momentum ETF 21.2 26 57 4.5 -1.2
EUDG WisdomTree Europe Quality Dividend Growth Fund 21.2 58 25 5.9 +0.3
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 21.0 35 48 6.9 +1.3
IDEV iShares Core MSCI International Developed Markets ETF 20.9 5 78 7.2 +1.5
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 20.9 32 51 5.9 +0.3
RFAP First Trust Riverfront Dynamic Asia Pacific ETF 20.3 83 0 5.4 -0.2
IDY Pacific Global International Equity Income ETF 20.2 39 44 8.0 +2.4
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 19.7 61 22 4.9 -0.8
VEA Vanguard FTSE Developed Markets ETF 19.6 5 78 7.3 +1.7
SPDW SPDR Portfolio Developed World ex-US ETF 19.6 4 79 7.1 +1.5
IQDF FlexShares International Quality Dividend Index Fund 19.5 47 36 9.0 +3.4
DWMF WisdomTree International Multifactor Fund 18.6 38 45 6.2 +0.5
CWI SPDR MSCI ACWI ex-US ETF 18.4 30 53 7.2 +1.6
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 18.4 45 38 8.9 +3.3
EFAV iShares Edge MSCI Min Vol EAFE ETF 18.3 20 63 5.4 -0.2
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 18.3 39 44 6.5 +0.9
NUDM Nuveen ESG International Developed Markets Equity ETF 18.2 40 43 6.7 +1.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 18.0 16 67 6.9 +1.3
DWCR Arrow DWA Country Rotation ETF 17.9 95 -12 14.2 +8.6
IQDE FlexShares International Quality Dividend Defensive Index Fd 17.7 47 36 9.2 +3.5
ACWX iShares MSCI ACWI ex U.S. ETF 17.3 32 51 7.3 +1.6
SCID Global X Scientific Beta Europe ETF 17.2 39 44 6.5 +0.9
INTF iShares Edge MSCI Multifactor Intl ETF 17.1 30 53 7.7 +2.1
EURZ Xtrackers Eurozone Equity ETF 17.0 9 74 7.1 +1.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 16.9 40 43 7.1 +1.4
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 16.8 45 38 6.6 +1.0
VIGI Vanguard International Dividend Appreciation ETF 16.8 20 63 5.5 -0.1
RBIN Nationwide Risk-Based International Equity ETF 16.8 42 41 6.0 +0.4
CIL VictoryShares International Volatility Weighted Index ETF 16.8 45 38 6.6 +1.0
VSGX Vanguard ESG International Stock ETF 16.7 17 66 7.1 +1.5
RODM Hartford Multifactor Developed Markets (ex-US) ETF 16.6 29 54 7.6 +2.0
VEU Vanguard FTSE All-World ex-US Index Fund 16.6 8 75 7.6 +1.9
ISDX Invesco Strategic Developed ex-US ETF 16.5 23 60 7.4 +1.7
FNDF Schwab Fundamental International Large Co. Index ETF 16.4 25 58 8.8 +3.2
EZU iShares MSCI Eurozone ETF 16.3 49 34 6.6 +1.0
IQIN IQ 500 International ETF 16.2 25 58 8.7 +3.0
IGRO iShares International Dividend Growth ETF 16.2 22 61 8.0 +2.4
VGFO Virtus WMC Global Factor Opportunities ETF 16.2 49 34 8.0 +2.4
LVIN Hartford Multifactor Low Volatility International Equity ETF 16.1 29 54 11.4 +5.8
MVIN Natixis Seeyond International Minimum Volatility ETF 16.0 56 27 5.5 -0.1
IQDY FlexShares International Quality Dividend Dynamic Index Fund 15.7 47 36 9.2 +3.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 15.6 45 38 6.7 +1.1
PIZ Invesco DWA Developed Markets Momentum ETF 15.5 81 2 4.5 -1.1
IXUS ishares Core MSCI Total International Stock ETF 15.4 9 74 7.4 +1.8
RNDM Developed International Equity Select ETF 15.2 65 18 6.3 +0.6
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 15.0 58 25 7.8 +2.2
JPIN JPMorgan Diversified Return International Equity ETF 14.7 37 46 7.8 +2.2
VXUS Vanguard Total International Stock Index Fund 14.7 8 75 7.5 +1.9
PQIN PGIM QMA Strategic Alpha International Equity ETF 14.5 29 54 7.5 +1.9
EFV iShares MSCI EAFE Value ETF 14.4 39 44 9.7 +4.1
FEZ SPDR EURO STOXX 50 ETF 14.2 29 54 7.2 +1.6
DOO WisdomTree International Dividend ex-Financials Fund 14.1 58 25 8.9 +3.3
DTH WisdomTree DEFA Equity Income Fund 14.0 58 25 9.9 +4.3
TPIF Timothy Plan International ETF 13.7 62 21 6.2 +0.6
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 13.5 39 44 8.3 +2.7
FEP First Trust Europe AlphaDEX Fund 13.4 80 3 7.3 +1.7
FEUZ First Trust Eurozone AlphaDEX ETF 13.0 80 3 7.5 +1.9
IPAC iShares Core MSCI Pacific ETF 12.8 9 74 7.0 +1.4

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 Riverfront Dynamic Developed International 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 13.5 %
Divided by: Fwd. P/BV 2.1 x
Less: Expense ratio 83 bp
Equals: ALTAR Score 5.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.59 CATEGORY
AVERAGE		 1.57
 
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.