ETF Research Center

First Trust Riverfront Dynamic Emerging Markets ETF

ALTAR
Score™

13.2%

Recommen-
dation

SPECULATIVE

2025E 2026E
P/E ratio	8.6x	P/Sales ratio	1.2x
P/BV ratio	1.2x	Div. yield	4.0%

Description
Performance
Comps
Fundamentals
Valuation
Rating

The First Trust RiverFront Dynamic Emerging Markets ETF is an actively managed fund that seeks capital appreciation from emerging market stocks using a factor approach. The manager has discretion to hedge currency exposure up to 100% of the portfolio.

FUND BASICS
Category	Emerging Market Equities
Fund Sponsor	First Trust
Website	www.ftportfolios.com
Inception date	Jun 14, 2016
Assets (mns)	$31
Currency	USD
Expense ratio	95 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	118
Wgt avg mkt cap (mns)	$118,082
Large cap (>$10bn)	72.4%
Mid cap ($2-10bn)	24.3%
Small cap (<$2bn)	2.3%
Developed mkts	9.2%
Emerging mkts	90.8%

TOP TEN HOLDINGS
Total	33.8 %
TAIWAN SEMICONDUCTOR MANUFAC	9.9 %
TENCENT HOLDINGS LTD	4.9 %
ISHARES MSCI CHINA ETF	4.4 %
ALIBABA GROUP HOLDING LTD.	2.6 %
MEDIATEK INC	2.4 %
IND & COMM BK OF CHINA - H	2.3 %
ICICI BANK LTD	2.0 %
KASIKORNBANK PCL-NVDR	1.8 %
KASIKORNBANK PUBLIC CO. LTD.	1.8 %
INTERGLOBE AVIATION LTD	1.7 %

TOP COUNTRY EXPOSURE
	INDIA	21.8 %
	TAIWAN	20.7 %
	CHINA	13.4 %
	BRAZIL	5.2 %
	SOUTH KOREA	4.7 %
	THAILAND	3.4 %
	TURKEY	3.1 %
	HONG KONG	2.8 %
	POLAND	2.3 %
	SINGAPORE	2.1 %

Standardized Annual Returns (thru May 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
6.2%	6.7%	8.6%	--	6.6%

Market Correlations
versus...	Beta	R-squared
S&P500	0.82	61%
MSCI EAFE	0.85	70%
MSCI Emg. Mkts.	0.92	80%

Technical Indicators
Recent close	$69.25
30d moving avg.	$67.33
Annualized volatility	17.7%
Short interest (ETF)	1.2%
Relative strength (RSI)	59

Liquidity measures
Avg. volume (thou.)	7
Turnover	1.6%
Bid/Ask (% of price)	0.09%
ADV underlying (mns)	$4,981

FINDING ALTERNATIVE FUNDS

Below is a list of 399 potential alternatives to the First Trust Riverfront Dynamic Emerging Markets ETF ETF based on the alternatives' overlap in portfolio holdings with RFEM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

RFEM

Expense:

95 bp

ALTAR Score™:

13.2%

ALTERNATIVE ETFs BASED ON OVERLAP WITH RFEM
Ticker	Fund Name	Overlap¹ vs RFEM (%)	Expense ratio (bp)	Savings vs RFEM (bp)	ALTAR Score™ (%)	ALTAR vs RFEM (%)
EMGF	iShares Emerging Markets Equity Factor ETF	28.5	25	70	12.2	-1.0
FDEM	Fidelity Emerging Markets Multifactor ETF	28.4	25	70	13.1	-0.1
EEMA	iShares MSCI Emerging Markets Asia ETF	27.5	49	46	10.4	-2.8
EEM	iShares MSCI Emerging Markets ETF	27.1	69	26	10.5	-2.7
GEM	Goldman Sachs ActiveBeta Emerging Markets Equity ETF	26.9	45	50	10.9	-2.3
AAXJ	iShares MSCI All Country Asia ex Japan ETF	26.8	70	25	9.5	-3.7
EEMX	SPDR MSCI Emerging Markets Fossil Fuel Free ETF	26.7	30	65	10.7	-2.5
SCHE	Schwab Emerging Markets Equity ETF	26.4	11	84	11.4	-1.8
JEMA	JPMorgan ActiveBuilders Emerging Markets Equity ETF	26.1	33	62	10.4	-2.8
QLVE	FlexShares Emerging Markets Quality Low Volatility Index Fun	25.9	40	55	7.3	-6.0
DBEM	Xtrackers MSCI Emerging Markets Hedged Equity ETF	25.8	66	29	10.2	-3.0
FLAX	Franklin FTSE Asia Ex Japan ETF	25.4	19	76	9.7	-3.5
BKEM	BNY Mellon Emerging Markets Equity ETF	25.3	11	84	10.4	-2.8
BBEM	JPMorgan BetaBuilders Emerging Markets Equity ETF	25.3	15	80	10.6	-2.6
GSEE	Goldman Sachs MarketBeta Emerging Markets Equity ETF	24.9	36	59	10.2	-3.0
EMSG	Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF	24.9	20	75	10.9	-2.3
ESGE	iShares ESG Aware MSCI EM ETF	24.9	25	70	10.4	-2.8
EMCR	Xtrackers Emerging Markets Carbon Reduction and Climate Impr	24.6	15	80	8.3	-5.0
VWO	Vanguard FTSE Emerging Markets ETF	24.5	8	87	10.8	-2.4
ECON	Columbia Emerging Markets Consumer ETF	24.2	49	46	12.8	-0.4
IEMG	iShares Core MSCI Emerging Markets ETF	24.1	9	86	10.7	-2.5
AIA	iShares Asia 50 ETF	23.8	50	45	13.7	+0.5
XSOE	WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	23.7	32	63	9.5	-3.7
JHEM	John Hancock Multifactor Emerging Markets ETF	23.6	49	46	10.6	-2.6
STXE	Strive Emerging Markets Ex-China ETF	23.4	32	63	8.1	-5.1
DEHP	Dimensional Emerging Markets High Profitability ETF	23.2	41	54	7.0	-6.2
PXH	Invesco FTSE RAFI Emerging Markets ETF	23.1	49	46	16.3	+3.0
KEMX	KraneShares MSCI Emerging Markets EX China Index ETF	23.1	24	71	8.5	-4.7
MINV	Matthews Asia Innovators Active ETF	23.1	79	16	7.9	-5.3
EEMO	Invesco S&P Emerging Markets Momentum ETF	22.4	29	66	6.7	-6.5
MEM	Matthews Emerging Markets Equity Active ETF	22.0	79	16	8.2	-5.0
DGRE	WisdomTree Emerging Markets Quality Dividend Growth Fund	22.0	32	63	7.0	-6.2
SPEM	SPDR Portfolio Emerging Markets ETF	21.9	7	88	10.8	-2.4
EMXC	iShares MSCI Emerging Markets ex China ETF	21.7	25	70	8.0	-5.3
FNDE	Schwab Fundamental Emerging Markets Large Co. Index ETF	21.4	39	56	16.6	+3.4
DFAE	Dimensional Emerging Core Equity Market ETF	21.3	35	60	9.7	-3.5
EMMF	WisdomTree Emerging Markets Multifactor Fund	21.1	48	47	7.9	-5.3
BKF	iShares MSCI BIC ETF	20.0	69	26	13.4	+0.2
XCNY	SPDR S&P Emerging Markets ex-China ETF	19.8	15	80	7.8	-5.4
EMDM	First Trust Bloomberg Emerging Market Democracies ETF	19.6	75	20	10.3	-3.0
LDEM	iShares ESG MSCI EM Leaders ETF	19.5	17	78	13.5	+0.3
QEMM	SPDR MSCI Emerging Markets StrategicFactors ETF	19.5	30	65	10.2	-3.0
RAYE	Rayliant Quantamental Emerging Market ex-China Equity ETF	19.2	88	7	9.8	-3.5
XC	WisdomTree Emerging Markets Ex-China Fund	18.9	32	63	6.3	-6.9
EVLU	iShares MSCI Emerging Markets Value Factor ETF	18.0	35	60	19.8	+6.5
NUEM	Nuveen ESG Emerging Markets Equity ETF	17.1	36	59	8.2	-5.0
XCEM	Columbia EM Core ex-China ETF	17.0	16	79	8.5	-4.8
EWT	iShares MSCI Taiwan ETF	16.8	58	37	6.7	-6.5
FLTW	Franklin FTSE Taiwan ETF	16.7	19	76	6.9	-6.3
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	16.7	38	57	9.7	-3.5
GMF	SPDR S&P Emerging Asia Pacific ETF	16.6	49	46	9.7	-3.5
PATN	Pacer Nasdaq International Patent Leaders ETF	16.5	65	30	6.5	-6.7
DFSE	Dimensional Emerging Markets Sustainability Core 1 ETF	16.1	41	54	9.1	-4.1
TLTE	FlexShares Morningstar Emerging Markets Factor Tilt Index	15.7	59	36	12.1	-1.1
ROAM	Hartford Multifactor Emerging Markets ETF	15.6	44	51	12.2	-1.1
INDA	iShares MSCI India ETF	15.5	65	30	4.5	-8.7
FTHF	First Trust Emerging Markets Human Flourishing ETF	15.4	75	20	8.8	-4.4
FLIN	Franklin FTSE India ETF	14.8	19	76	4.0	-9.2
MFEM	PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF	13.8	50	45	11.7	-1.5
EMXF	iShares ESG Advanced MSCI EM ETF	13.7	16	79	8.7	-4.5
NFTY	First Trust India NIFTY 50 Equal Weight ETF	13.6	80	15	5.1	-8.1
PIN	Invesco India ETF	13.5	78	17	4.4	-8.8
RNEM	First Trust Emerging Markets Equity Select ETF	13.3	75	20	7.1	-6.2
EMC	Global X Emerging Markets Great Consumer ETF	13.1	75	20	9.1	-4.1
JPEM	JPMorgan Diversified Return Emerging Markets Equity ETF	12.5	44	51	11.1	-2.2
INDY	iShares India 50 ETF	12.4	89	6	4.7	-8.5
DEM	WisdomTree Emerging Markets High Dividend Fund	12.3	63	32	13.5	+0.2
DVYE	iShares Emerging Markets Dividend ETF	12.2	49	46	18.8	+5.6
AVEM	Avantis Emerging Markets Equity ETF	11.9	33	62	9.4	-3.8
MCHI	iShares MSCI China ETF	11.4	59	36	17.7	+4.5
EEMV	iShares MSCI Emerging Markets Min Vol Factor ETF	11.2	25	70	6.6	-6.7
FXI	iShares China Large-Cap ETF	11.0	74	21	17.0	+3.8
FLCH	Franklin FTSE China ETF	10.9	19	76	16.7	+3.5
GXC	SPDR S&P China ETF	10.9	59	36	16.4	+3.2
KALL	KraneShares MSCI All China Index ETF	10.8	49	46	14.7	+1.5
IQDF	FlexShares International Quality Dividend Index Fund	10.6	47	48	9.3	-3.9
KEMQ	KraneShares Emerging Markets Consumer Technology Index ETF	10.6	60	35	10.8	-2.4
EPI	WisdomTree India Earnings Fund	10.4	85	10	4.9	-8.3
DNL	WisdomTree Global ex-US Quality Dividend Growth Fund	10.3	42	53	6.8	-6.4
EYLD	Cambria Emerging Shareholder Yield ETF	9.5	66	29	12.6	-0.6
MCH	Matthews China Active ETF	9.2	79	16	15.5	+2.3
JIG	JPMorgan International Growth ETF	9.2	55	40	4.8	-8.5
EMQQ	EMQQ The Emerging Markets Internet & Ecommerce ETF	9.2	86	9	13.6	+0.4
CHAT	Roundhill Generative AI & Technology ETF	8.9	75	20	8.5	-4.7
KTEC	KraneShares Hang Seng TECH Index ETF	8.8	69	26	18.5	+5.3
JCHI	JPMorgan Active China ETF	8.8	65	30	16.1	+2.9
IQDY	FlexShares International Quality Dividend Dynamic Index Fund	8.7	47	48	8.6	-4.6
ECOW	Pacer Emerging Markets Cash Cows 100 ETF	8.7	70	25	14.7	+1.5
CXSE	WisdomTree China ex-State-Owned Enterprises Fund	8.7	32	63	17.5	+4.3
FDNI	First Trust Dow Jones International Internet ETF	8.6	65	30	18.4	+5.2
DFEV	Dimensional Emerging Markets Value ETF	8.6	43	52	13.7	+0.5
ACWX	iShares MSCI ACWI ex U.S. ETF	8.6	34	61	7.9	-5.3
AVES	Avantis Emerging Markets Value ETF	8.5	36	59	11.8	-1.4
KNCT	Invesco Next Gen Connectivity ETF	8.4	40	55	5.2	-8.0
UEVM	VictoryShares Emerging Markets Value Momentum ETF	8.2	45	50	10.9	-2.3
GLIN	VanEck India Growth Leaders ETF	8.1	77	18	6.5	-6.8
PIE	Invesco Dorsey Wright Emerging Markets Momentum ETF	8.1	90	5	7.9	-5.3
GXUS	Goldman Sachs MarketBeta Total International Equity ETF	8.1	18	77	7.9	-5.3
VEU	Vanguard FTSE All-World ex-US Index Fund	8.1	8	87	8.3	-5.0
DBAW	Xtrackers MSCI All World ex US Hedged Equity ETF	8.0	41	54	7.8	-5.5
KWEB	KraneShares CSI China Internet ETF	8.0	69	26	24.5	+11.3
GVAL	Cambria Global Value ETF	7.8	68	27	11.3	-1.9
FRDM	Freedom 100 Emerging Markets ETF	7.5	49	46	9.0	-4.2
IXUS	iShares Core MSCI Total International Stock ETF	7.5	7	88	8.1	-5.1
TCHI	iShares MSCI China Multisector Tech ETF	7.5	59	36	18.1	+4.9
VXUS	Vanguard Total International Stock ETF	7.4	7	88	8.1	-5.1
RODE	Hartford Multifactor Diversified International ETF	7.4	29	66	11.0	-2.2
IVES	Wedbush ETFMG Global Cloud Technology ETF	7.2	68	27	16.2	+3.0
VSGX	Vanguard ESG International Stock ETF	7.2	12	83	8.0	-5.2
VIDI	Vident International Equity Strategy ETF	6.8	61	34	11.5	-1.7
FLLA	Franklin FTSE Latin America ETF	6.7	19	76	13.4	+0.1
MOTI	VanEck Morningstar International Moat ETF	6.7	58	37	11.1	-2.1
FPA	First Trust Asia Pacific ex-Japan AlphaDEX Fund	6.6	80	15	10.0	-3.3
INDF	Nifty India Financials ETF	6.6	75	20	6.5	-6.7
IWTR	iShares MSCI Water Management Multisector ETF	6.6	47	48	5.9	-7.3
AIVC	Amplify Bloomberg AI Value Chain ETF	6.5	59	36	6.5	-6.7
CGXU	Capital Group International Focus Equity ETF	6.4	54	41	5.8	-7.4
NDIA	Global X India Active ETF	6.3	75	20	4.8	-8.4
FBOT	Fidelity Disruptive Automation ETF	6.1	50	45	3.9	-9.4
FEM	First Trust Emerging Markets AlphaDEX Fund	6.1	80	15	12.3	-1.0
ANEW	ProShares MSCI Transformational Changes ETF	5.8	45	50	6.2	-7.0
SDEM	Global X MSCI SuperDividend Emerging Markets ETF	5.7	67	28	14.1	+0.9
MOTG	VanEck Morningstar Global Wide Moat ETF	5.5	52	43	6.8	-6.4
CQQQ	Invesco China Technology ETF	5.4	70	25	10.6	-2.7
CGRO	CoreValues Alpha Greater China Growth ETF	5.4	75	20	3.8	-9.5
WRND	IQ Global Equity R&D Leaders ETF	5.2	18	77	8.6	-4.6
AGQI	First Trust Active Global Quality Income ETF	5.1	85	10	5.4	-7.8
FLBR	Franklin FTSE Brazil ETF	5.1	19	76	15.0	+1.8
EWZ	iShares MSCI Brazil ETF	5.1	58	37	13.2	0.0
NXTG	First Trust Indxx NextG ETF	5.1	70	25	5.5	-7.7
IXN	iShares Global Tech ETF	5.1	41	54	4.1	-9.1
INCO	Columbia India Consumer ETF	5.0	75	20	2.0	-11.3
BNGE	First Trust S-Network Streaming and Gaming ETF	5.0	70	25	3.0	-10.2
AIQ	Global X Artificial Intelligence & Technology ETF	5.0	68	27	4.0	-9.2
ESPO	VanEck Video Gaming and eSports ETF	4.9	56	39	4.3	-8.9
SOCL	Global X Social Media ETF	4.9	65	30	8.5	-4.7
GAMR	Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Video Game T	4.9	75	20	5.1	-8.1
ODDS	Pacer BlueStar Digital Entertainment ETF	4.9	60	35	2.3	-11.0
CHIQ	Global X MSCI China Consumer Discretionary ETF	4.9	65	30	16.0	+2.8
EELV	Invesco S&P Emerging Markets Low Volatility ETF	4.8	29	66	8.9	-4.4
ASEA	Global X FTSE Southeast Asia ETF	4.7	65	30	7.0	-6.2
CWI	SPDR MSCI ACWI ex-US ETF	4.7	30	65	7.9	-5.3
DWCR	Arrow DWA Tactical: International ETF	4.4	134	-39	7.6	-5.6
FMET	Fidelity Metaverse ETF	4.4	39	56	5.1	-8.1
IXP	iShares Global Comm Services ETF	4.3	42	53	5.8	-7.4
FBZ	First Trust Brazil AlphaDEX Fund	4.2	80	15	12.1	-1.1
EMDV	ProShares MSCI Emerging Markets Dividend Growers ETF	4.2	60	35	7.3	-5.9
METV	Roundhill Ball Metaverse ETF	4.1	59	36	5.9	-7.3
FLKR	Franklin FTSE South Korea ETF	4.0	9	86	10.3	-3.0
IVRS	iShares Future Metaverse Tech and Communications ETF	3.9	47	48	2.8	-10.4
FLN	First Trust Latin America AlphaDEX Fund	3.9	80	15	10.5	-2.7
DFAX	Dimensional World ex U.S. Core Equity 2 ETF	3.9	30	65	8.2	-5.0
RXI	iShares Global Consumer Discretionary ETF	3.8	41	54	9.2	-4.0
CLNR	IQ Cleaner Transport ETF	3.8	45	50	6.5	-6.7
EWY	iShares MSCI South Korea ETF	3.6	58	37	9.7	-3.5
IPKW	Invesco International BuyBack Achievers ETF	3.6	55	40	13.5	+0.3
IBLC	iShares Blockchain and Tech ETF	3.5	47	48	-4.2	-17.4
EDOG	ALPS Emerging Sector Dividend Dogs ETF	3.4	60	35	11.0	-2.3
FDT	First Trust Developed Markets ex-US AlphaDEX Fund	3.3	80	15	10.2	-3.1
VYMI	Vanguard International High Dividend Yield ETF	3.2	22	73	9.8	-3.4
XT	iShares Exponential Technologies ETF	3.2	46	49	5.0	-8.2
LEGR	First Trust Indxx Innovative Transaction & Process ETF	3.2	65	30	7.6	-5.7
TUR	iShares MSCI Turkey ETF	3.2	58	37	21.9	+8.7
ACWI	iShares MSCI ACWI ETF	3.1	32	63	5.8	-7.4
GTEK	Goldman Sachs Future Tech Leaders Equity ETF	3.1	75	20	3.2	-10.0
UIVM	VictoryShares International Value Momentum ETF	3.1	35	60	9.2	-4.1
ACWV	iShares MSCI Global Min Vol Factor ETF	3.1	20	75	5.9	-7.3
KLMT	Invesco MSCI Global Climate 500 ETF	3.1	10	85	6.0	-7.2
SDIV	Global X Superdividend ETF	3.0	58	37	42.0	+28.8
ARVR	First Trust Indxx Metaverse ETF	3.0	70	25	4.3	-8.9
GLOF	iShares Global Equity Factor ETF	3.0	20	75	6.9	-6.3
CRBN	iShares MSCI ACWI Low Carbon Target ETF	2.9	20	75	5.9	-7.3
DGT	SPDR Global Dow ETF	2.9	50	45	7.4	-5.8
ICOW	Pacer Developed Markets International Cash Cows 100 ETF	2.8	65	30	11.7	-1.5
EMM	Global X Emerging Markets ex-China ETF	2.8	75	20	6.4	-6.8
GGME	Invesco Next Gen Media and Gaming ETF	2.8	60	35	4.5	-8.7
VT	Vanguard Total World Stock ETF	2.8	7	88	6.2	-7.1
IDAT	iShares Future Cloud 5G and Tech ETF	2.7	47	48	5.1	-8.1
FILL	iShares MSCI Global Energy Producers ETF	2.7	39	56	11.7	-1.6
DEW	WisdomTree Global High Dividend Fund	2.7	58	37	8.8	-4.5
OBOR	KraneShares MSCI One Belt One Road Index ETF	2.7	79	16	9.2	-4.1
GUNR	FlexShares Morningstar Global Upstream Natural Resources Ind	2.7	46	49	10.3	-3.0
EDIV	SPDR S&P Emerging Markets Dividend ETF	2.7	49	46	12.0	-1.2
OAIM	OneAscent International Equity ETF	2.7	95	0	5.8	-7.4
ADIV	SmartETFs Asia Pacific Dividend Builder ETF	2.5	78	17	9.6	-3.6
FEMS	First Trust Emerging Markets Small Cap AlphaDEX Fund	2.4	80	15	14.6	+1.4
DGIN	VanEck Digital India ETF	2.4	71	24	2.1	-11.2
TTAI	FCF International Quality ETF	2.4	59	36	6.9	-6.3
DGS	WisdomTree Emerging Markets SmallCap Dividend Fund	2.3	58	37	10.0	-3.2
SCHY	Schwab International Dividend Equity ETF	2.3	14	81	9.6	-3.7
NZAC	SPDR MSCI ACWI Climate Paris Aligned ETF	2.3	12	83	5.4	-7.8
IDOG	ALPS International Sector Dividend Dogs ETF	2.2	50	45	12.3	-0.9
GCOW	Pacer Global Cash Cows Dividend ETF	2.2	60	35	11.0	-2.2
CRAK	VanEck Oil Refiners ETF	2.2	61	34	15.0	+1.8
RFDI	First Trust Riverfront Dynamic Developed International ETF	2.1	83	12	9.7	-3.5
EEMS	iShares MSCI Emerging Markets Small Cap ETF	2.1	70	25	7.9	-5.3
QTUM	Defiance Quantum ETF	2.1	40	55	5.7	-7.5
SHPP	Pacer Industrials and Logistics ETF	2.1	60	35	8.7	-4.6
EWS	iShares MSCI Singapore ETF	2.1	50	45	5.3	-7.9
EPOL	iShares MSCI Poland ETF	2.1	59	36	11.7	-1.5
WTAI	WisdomTree Artificial Intelligence and Innovation Fund	1.9	45	50	3.1	-10.1
DTCR	Global X Data Center & Digital Infrastructure ETF	1.9	50	45	4.6	-8.7
FEOE	First Eagle Overseas Equity ETF	1.9	79	16	8.2	-5.0
SNSR	Global X Internet of Things ETF	1.9	68	27	4.7	-8.5
PICK	iShares MSCI Global Metals & Mining Producers ETF	1.9	39	56	14.2	+0.9
DIM	WisdomTree International MidCap Dividend Fund	1.9	58	37	7.6	-5.6
DRIV	Global X Autonomous & Electric Vehicles ETF	1.9	68	27	5.8	-7.4
PIZ	Invesco Dorsey Wright Developed Markets Momentum ETF	1.8	80	15	4.9	-8.3
BUYZ	Franklin Disruptive Commerce ETF	1.8	50	45	2.4	-10.8
CGV	Conductor Global Equity Value ETF	1.8	130	-35	8.7	-4.5
THD	iShares MSCI Thailand ETF	1.8	58	37	0.0	-13.2
FDCF	Fidelity Disruptive Communications ETF	1.8	50	45	3.2	-10.0
EIS	iShares MSCI Israel ETF	1.7	58	37	8.8	-4.4
ILF	iShares Latin America 40 ETF	1.7	48	47	13.1	-0.1
SUPL	ProShares Supply Chain Logistics ETF	1.7	58	37	11.6	-1.7
WUGI	AXS Esoterica NextG Economy ETF	1.7	75	20	2.6	-10.7
WWJD	Inspire International ETF	1.7	80	15	7.4	-5.9
JPIN	J.P. Morgan Diversified Return International Equity ETF	1.6	37	58	8.6	-4.6
OND	ProShares On-Demand ETF	1.6	58	37	0.8	-12.4
ABLG	Abacus FCF International Leaders ETF	1.6	59	36	6.3	-6.9
GREK	Global X MSCI Greece ETF	1.6	57	38	10.9	-2.3
GINN	Goldman Sachs Innovate Equity ETF	1.6	52	43	3.9	-9.3
EPHE	iShares MSCI Philippines ETF	1.5	59	36	0.0	-13.2
TMFG	Motley Fool Global Opportunities ETF	1.5	85	10	4.0	-9.2
VIGI	Vanguard International Dividend Appreciation ETF	1.5	15	80	6.1	-7.1
FCA	First Trust China AlphaDEX Fund	1.5	80	15	9.2	-4.0
OGIG	ALPS O'Shares Global Internet Giants ETF	1.5	48	47	1.7	-11.6
VEGI	iShares MSCI Agriculture Producers ETF	1.5	39	56	8.5	-4.7
ARTY	iShares Future AI & Tech ETF	1.5	47	48	3.5	-9.7
BWEB	Bitwise Web3 ETF	1.4	85	10	0.1	-13.1
IOO	iShares Global 100 ETF	1.4	41	54	5.2	-8.1
KOCG	FIS Knights of Columbus Global Belief ETF	1.4	75	20	5.2	-8.0
JGLO	JPMorgan Global Select Equity ETF	1.4	33	62	5.1	-8.1
ECH	iShares MSCI Chile ETF	1.4	58	37	8.9	-4.3
EFAS	Global X MSCI SuperDividend EAFE ETF	1.4	57	38	8.6	-4.7
AIRL	Themes Airlines ETF	1.4	35	60	2.0	-11.3
RODM	Hartford Multifactor Developed Markets (ex-US) ETF	1.3	29	66	8.0	-5.3
JSTC	Adasina Social Justice All Cap Global ETF	1.3	89	6	4.9	-8.3
FLHK	Franklin FTSE Hong Kong ETF	1.3	9	86	6.8	-6.4
FEGE	First Eagle Global Equity ETF	1.3	79	16	7.1	-6.1
ECNS	iShares MSCI China Small-Cap ETF	1.3	59	36	9.8	-3.5
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	1.3	9	86	6.1	-7.1
BLKC	Invesco Alerian Galaxy Blockchain Users and Decentralized Co	1.3	61	34	1.6	-11.6
IBUY	Amplify Online Retail ETF	1.2	65	30	1.3	-11.9
BRAZ	Global X Brazil Active ETF	1.2	75	20	12.7	-0.5
MOTO	SmartETFs Smart Transportation & Technology ETF	1.2	68	27	7.6	-5.6
IDV	iShares International Select Dividend ETF	1.2	51	44	11.2	-2.1
DSTX	Distillate International Fundamental Stability & Value ETF	1.2	55	40	8.2	-5.0
IGRO	iShares International Dividend Growth ETF	1.2	15	80	7.1	-6.1
DEEF	Xtrackers FTSE Developed ex US Multifactor ETF	1.2	24	71	7.6	-5.6
ISRA	VanEck Israel ETF	1.2	59	36	7.9	-5.3
IMOM	Alpha Architect International Quantitative Momentum ETF	1.2	49	46	3.3	-9.9
FMQQ	FMQQ The Next Frontier Internet & Ecommerce ETF	1.2	86	9	0.9	-12.3
INQQ	India Internet & Ecommerce ETF	1.2	86	9	1.3	-12.0
HERO	Global X Video Games & Esports ETF	1.1	50	45	4.0	-9.2
HDMV	First Trust Horizon Managed Volatility Developed Intl ETF	1.1	80	15	5.5	-7.8
TPIF	Timothy Plan International ETF	1.1	62	33	6.3	-6.9
CGIE	Capital Group International Equity ETF	1.1	54	41	5.0	-8.2
EAFG	Pacer Developed Markets Cash Cows Growth Leaders ETF	1.0	65	30	3.7	-9.5
VPL	Vanguard FTSE Pacific ETF	0.9	8	87	7.3	-5.9
FGD	First Trust Dow Jones Global Select Dividend Index Fund	0.9	56	39	11.3	-1.9
SATO	Invesco Alerian Galaxy Crypto Economy ETF	0.9	61	34	-2.5	-15.7
CARZ	First Trust NASDAQ Global Auto Index Fund	0.9	70	25	5.5	-7.7
QLVD	FlexShares Developed Markets ex-US Quality Low Volatility In	0.9	32	63	5.9	-7.3
FDD	First Trust Stoxx European Select Dividend Index Fund	0.9	58	37	11.8	-1.4
CIL	VictoryShares International Volatility Wtd ETF	0.9	45	50	6.7	-6.5
ICOP	iShares Copper and Metals Mining ETF	0.8	47	48	9.2	-4.0
BLES	Inspire Global Hope ETF	0.8	61	34	6.9	-6.3
NFRA	FlexShares STOXX Global Broad Infrastructure Index Fund	0.8	47	48	5.8	-7.4
DTAN	Sparkline International Intangible Value ETF	0.8	55	40	8.3	-4.9
EMIF	iShares Emerging Markets Infrastructure ETF	0.8	60	35	6.7	-6.6
CCNR	ALPS CoreCommodity Natural Resources ETF	0.8	39	56	11.5	-1.7
EFAV	iShares MSCI EAFE Min Vol Factor ETF	0.8	22	73	5.6	-7.6
IGF	iShares Global Infrastructure ETF	0.8	41	54	4.7	-8.5
GII	SPDR S&P Global Infrastructure ETF	0.8	40	55	4.8	-8.4
GNR	SPDR S&P Global Natural Resources ETF	0.8	40	55	11.6	-1.6
EWX	SPDR S&P Emerging Markets Small Cap ETF	0.8	65	30	8.3	-4.9
BOAT	SonicShares Global Shipping ETF	0.8	69	26	29.5	+16.3
HFXI	IQ FTSE International Equity Currency Neutral ETF	0.7	20	75	7.2	-6.0
INEQ	Columbia International Equity Income ETF	0.7	45	50	8.4	-4.8
DWMF	WisdomTree International Multifactor Fund	0.7	38	57	6.9	-6.3
IMFL	Invesco International Developed Dynamic Multifactor ETF	0.7	34	61	6.0	-7.2
CUT	Invesco MSCI Global Timber ETF	0.7	61	34	10.4	-2.8
ERTH	Invesco MSCI Sustainable Future ETF	0.7	62	33	3.6	-9.6
WOOD	iShares Global Timber & Forestry ETF	0.7	42	53	12.3	-0.9
FNDF	Schwab Fundamental International Large Co. Index ETF	0.7	25	70	9.7	-3.5
IDX	VanEck Indonesia Index ETF	0.7	57	38	9.2	-4.0
EIDO	iShares MSCI Indonesia ETF	0.7	59	36	9.3	-4.0
DTH	WisdomTree International High Dividend Fund	0.7	58	37	8.9	-4.3
EPP	iShares MSCI Pacific ex-Japan ETF	0.6	47	48	5.4	-7.8
QINT	American Century Quality Diversified International ETF	0.6	39	56	7.4	-5.8
PXF	Invesco FTSE RAFI Developed Markets ex-U.S. ETF	0.6	45	50	9.0	-4.2
FDRR	Fidelity Dividend ETF for Rising Rates	0.6	15	80	7.6	-5.7
HDEF	Xtrackers MSCI EAFE High Dividend Yield Equity ETF	0.6	9	86	9.1	-4.1
FLSA	Franklin FTSE Saudi Arabia ETF	0.6	39	56	0.0	-13.2
KSA	iShares MSCI Saudi Arabia ETF	0.6	74	21	0.0	-13.2
IXG	iShares Global Financials ETF	0.6	42	53	7.0	-6.3
HELX	Franklin Genomic Advancements ETF	0.6	50	45	-0.3	-13.5
EV	Mast Global Battery Recycling & Production ETF	0.6	65	30	10.6	-2.6
FTAG	First Trust Indxx Global Agriculture ETF	0.6	70	25	8.4	-4.8
EWM	iShares MSCI Malaysia ETF	0.6	50	45	7.0	-6.2
FLMX	Franklin FTSE Mexico ETF	0.6	19	76	10.5	-2.7
EWW	iShares MSCI Mexico ETF	0.6	50	45	10.2	-3.1
EZA	iShares MSCI South Africa ETF	0.5	58	37	10.6	-2.6
IDLV	Invesco S&P International Developed Low Volatility ETF	0.5	25	70	6.5	-6.7
SCHF	Schwab International Equity ETF	0.5	6	89	7.5	-5.8
JETS	U.S. Global Jets ETF	0.5	60	35	3.1	-10.1
RFEU	First Trust Riverfront Dynamic Europe ETF	0.5	83	12	10.3	-2.9
BJK	VanEck Gaming ETF	0.5	65	30	4.6	-8.6
BETZ	Roundhill Sports Betting & iGaming ETF	0.5	75	20	2.2	-11.0
DINT	Davis Select International ETF	0.5	55	40	8.3	-4.9
DWLD	Davis Select Worldwide ETF	0.5	63	32	7.7	-5.5
ISHP	First Trust Nasdaq Retail ETF	0.5	60	35	5.4	-7.8
UMMA	Wahed Dow Jones Islamic World ETF	0.5	65	30	5.2	-8.0
ROBT	First Trust Nasdaq Artificial Intelligence & Robotics ETF	0.5	65	30	2.4	-10.8
VEA	Vanguard FTSE Developed Markets ETF	0.5	5	90	7.4	-5.8
SMIN	iShares MSCI India Small Cap ETF	0.5	79	16	3.7	-9.5
IQRA	IQ CBRE Real Assets ETF	0.5	65	30	5.7	-7.5
FDEV	Fidelity International Multifactor ETF	0.5	18	77	7.4	-5.8
IVLU	iShares MSCI Intl Value Factor ETF	0.4	30	65	10.7	-2.6
INTF	iShares International Equity Factor ETF	0.4	15	80	7.9	-5.4
FEUZ	First Trust Eurozone AlphaDEX ETF	0.4	80	15	9.4	-3.8
CGDG	Capital Group Dividend Growers ETF	0.4	47	48	6.3	-6.9
SDG	iShares MSCI Global Sustainable Development Goals ETF	0.4	49	46	6.2	-7.0
RCGE	RockCreek Global Equality ETF	0.4	95	0	6.5	-6.7
FNDC	Schwab Fundamental International Small Co. Index ETF	0.4	39	56	6.0	-7.2
IGPT	Invesco AI and Next Gen Software ETF	0.4	60	35	4.5	-8.8
BBAX	JPMorgan BetaBuilders Developed Asia Pacific-ex Japan ETF	0.4	19	76	6.1	-7.1
WBAT	WisdomTree Battery Value Chain and Innovation Fund	0.4	45	50	4.5	-8.7
QEFA	SPDR MSCI EAFE StrategicFactors ETF	0.4	30	65	7.1	-6.1
SPDW	SPDR Portfolio Developed World ex-US ETF	0.4	3	92	7.2	-6.0
JHMD	John Hancock Multifactor Developed International ETF	0.4	39	56	7.7	-5.6
DWM	WisdomTree International Equity Fund	0.4	48	47	7.5	-5.7
PDN	Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF	0.3	49	46	7.1	-6.1
DDWM	WisdomTree Dynamic Currency Hedged International Equity Fund	0.3	40	55	7.6	-5.6
AVIV	Avantis International Large Cap Value ETF	0.3	25	70	8.9	-4.3
FEP	First Trust Europe AlphaDEX Fund	0.3	80	15	9.4	-3.8
MOO	VanEck Agribusiness ETF	0.3	53	42	10.3	-2.9
ICLN	iShares Global Clean Energy ETF	0.3	41	54	5.8	-7.4
VSS	Vanguard FTSE All-World ex-US Small-Cap ETF	0.3	7	88	7.0	-6.2
IDMO	Invesco S&P International Developed Momentum ETF	0.3	25	70	5.5	-7.7
EFV	iShares MSCI EAFE Value ETF	0.3	34	61	9.3	-3.9
DMXF	iShares ESG Advanced MSCI EAFE ETF	0.3	12	83	5.5	-7.7
IQLT	iShares MSCI Intl Quality Factor ETF	0.3	30	65	6.2	-7.0
MFDX	PIMCO RAFI Dynamic Multi-Factor International Equity ETF	0.3	39	56	6.8	-6.4
KURE	KraneShares MSCI All China Health Care Index ETF	0.3	65	30	2.9	-10.3
AFK	VanEck Africa Index ETF	0.3	98	-3	12.4	-0.8
DIHP	Dimensional International High Profitability ETF	0.3	29	66	7.2	-6.0
GSIE	Goldman Sachs ActiveBeta International Equity ETF	0.3	25	70	7.2	-6.0
DFIV	Dimensional International Value ETF	0.2	27	68	10.1	-3.1
BRF	VanEck Brazil Small-Cap ETF	0.2	66	29	11.2	-2.0
EWZS	iShares MSCI Brazil Small-Cap ETF	0.2	59	36	10.7	-2.5
TLTD	FlexShares Morningstar Developed Markets ex-US Factor Tilt	0.2	39	56	8.3	-4.9
IDHQ	Invesco S&P International Developed High Quality ETF	0.2	29	66	6.6	-6.6
GSID	Goldman Sachs MarketBeta International Equity ETF	0.2	20	75	7.0	-6.2
DWX	SPDR S&P International Dividend ETF	0.2	45	50	6.2	-7.1
EFAX	SPDR MSCI EAFE Fossil Fuel Free ETF	0.2	20	75	6.6	-6.6
TOLZ	ProShares DJ Brookfield Global Infrastructure ETF	0.2	46	49	5.5	-7.8
GLOV	Goldman Sachs ActiveBeta World Low Vol Plus Equity ETF	0.2	25	70	6.0	-7.2
ESGD	iShares ESG Aware MSCI EAFE ETF	0.2	20	75	6.9	-6.3
BKIE	BNY Mellon International Equity ETF	0.2	4	91	7.1	-6.1
PBD	Invesco Global Clean Energy ETF	0.2	75	20	0.6	-12.6
EFA	iShares MSCI EAFE ETF	0.2	35	60	6.9	-6.4
DFIC	Dimensional International Core Equity 2 ETF	0.2	23	72	7.6	-5.6
CEFA	Global X S&P Catholic Values Developed ex-US ETF	0.2	35	60	6.8	-6.4
IXJ	iShares Global Healthcare ETF	0.2	42	53	7.0	-6.2
DFAI	Dimensional International Core Equity Market ETF	0.2	18	77	7.3	-5.9
DBEF	Xtrackers MSCI EAFE Hedged Equity ETF	0.2	36	59	6.8	-6.5
PABD	iShares Paris-Aligned Climate MSCI World ex USA ETF	0.2	12	83	6.2	-7.1
AVDE	Avantis International Equity ETF	0.2	23	72	7.6	-5.6
IEFA	iShares Core MSCI EAFE ETF	0.2	7	88	7.2	-6.0
IPAC	iShares Core MSCI Pacific ETF	0.2	9	86	6.8	-6.4
FDVV	Fidelity High Dividend ETF	0.2	15	80	8.1	-5.2
IDEV	iShares Core MSCI International Developed Markets ETF	0.2	4	91	7.2	-6.0
LVHI	Franklin International Low Volatility High Dividend Index ET	0.2	40	55	10.9	-2.3
DIVI	Franklin International Core Dividend Tilt Index ETF	0.1	9	86	8.1	-5.1
SCHC	Schwab International Small-Cap Equity ETF	0.1	11	84	7.0	-6.2
BLDG	Cambria Global Real Estate ETF	0.1	60	35	12.0	-1.2
AVSD	Avantis Responsible International Equity ETF	0.1	23	72	5.7	-7.5
VNQI	Vanguard Global ex-U.S. Real Estate ETF	0.1	12	83	8.2	-5.0
LCTD	BlackRock World ex U.S. Carbon Transition Readiness ETF	0.1	20	75	6.6	-6.6
VGK	Vanguard FTSE Europe ETF	0.1	11	84	7.4	-5.8
QWLD	SPDR MSCI World StrategicFactors ETF	0.1	30	65	6.2	-7.0
SPEU	SPDR Portfolio Europe ETF	0.1	7	88	7.3	-5.9
EFG	iShares MSCI EAFE Growth ETF	0.1	36	59	4.4	-8.9
BBEU	JPMorgan BetaBuilders Europe ETF	0.1	9	86	7.2	-6.1
FLEE	Franklin FTSE Europe ETF	0.1	9	86	7.3	-5.9
IQSI	IQ Candriam International Equity ETF	0.1	15	80	6.7	-6.6
DFGR	Dimensional Global Real Estate ETF	0.1	22	73	7.5	-5.7
KOKU	Xtrackers MSCI Kokusai Equity ETF	0.1	9	86	5.4	-7.8
DFSI	Dimensional International Sustainability Core 1 ETF	0.1	24	71	6.5	-6.7
URTH	iShares MSCI World ETF	0.1	24	71	5.4	-7.8
TOK	iShares MSCI Kokusai ETF	0.1	26	69	5.3	-7.9
HAP	VanEck Natural Resources ETF	0.0	50	45	9.7	-3.5
EASG	Xtrackers MSCI EAFE ESG Leaders Equity ETF	0.0	14	81	6.3	-7.0
AVRE	Avantis Real Estate ETF	0.0	17	78	7.1	-6.1
HAUZ	DBX ETF Trust - Xtrackers International Real Estate ETF	0.0	10	85	8.3	-4.9
ESGG	FlexShares STOXX Global ESG Select Index Fund	0.0	42	53	5.6	-7.6
COPY	Tweedy, Browne Insider + Value ETF	0.0	80	15	12.3	-0.9

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%.

	2020	2021	2022	2023	2024	2025E	2026E
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		**%	**%	**%	**%	**%	**%

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Forward multiple:	First Trust Riverfront Dynamic Emerging Markets ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

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