DVOL
First Trust Dorsey Wright Momentum & Low Volatility ETF
The First Trust Dorsey Wright Momentum & Low Volatility tracks a rules-based equity index consisting of the 50 stocks in the NASDAQ US Large Mid Index that exhibit the lowest levels of volatility while still maintaining high levels of relative strength.
Fund Basics
| Fund sponsor | First Trust |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 05, 2018 |
| Assets (mns) | $47 |
| Expense ratio | 60 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Technical |
| Weighting | Volatility |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| REPUBLIC SERVICES INC | 3.2 % |
| CORESITE REALTY CORP | 3.1 % |
| MASTERCARD INCORPORATED CLASS A | 3.0 % |
| VISA INC. CLASS A | 3.0 % |
| AMPHENOL CORP-CL A | 3.0 % |
| MARSH & MCLENNAN COS | 2.9 % |
| TJX COMPANIES INC | 2.9 % |
| AMETEK INC | 2.8 % |
| CINTAS CORP | 2.7 % |
| MOTOROLA SOLUTIONS | 2.7 % |
Constituent Breakdown
| Number of holdings | 52 |
| Herfindahl-Hirschman Index | 223 |
| Wgt avg mkt cap (mns) | $157,810 |
| Large cap (>$10bn) | 88.7% |
| Mid cap ($2-10bn) | 11.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 99.9 % |
Historical Performance
Standardized Annual Returns (as of 03/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 12.0% | 21.1% | 4.8% | 8.6% | 9.6% | -- | 9.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.85 | 74% |
| MSCI EAFE | 0.75 | 53% |
| MSCI Emg Mkts | 0.43 | 18% |
Liquidity Measures
| Avg. volume (000) | 3 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.11% |
| ADV of underlying (mns) | $30,649 |
Technical Indicators
| Recent close | $29.20 |
| 30d moving avg. | $26.64 |
| Annualized volatility | 17.5% |
| Relative strength (RSI) | 70 |
| Short interest (ETF) | 1.5% |
| Short interest (underlying) | 1.7% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DVOL |
Expenses vs. DVOL |
ALTAR Score™ vs. DVOL |
|---|---|---|---|---|
| HUSV | First Trust Horizon Managed Volatility Domestic ETF | 28.3% | +10 bp | +0.7% |
| PDP | Invesco Dorsey Wright Momentum ETF | 24.8% | +2 bp | -0.8% |
| PWB | Invesco Large Cap Growth ETF | 23.7% | -4 bp | -1.4% |
| FTCS | First Trust Capital Strength ETF | 23.1% | -5 bp | +1.2% |
| LEAD | Siren DIVCON Leaders Dividend ETF | 21.7% | -17 bp | +0.8% |
| SPLV | Invesco S&P 500 Low Volatility ETF | 21.2% | -35 bp | +1.4% |
| ALTL | Pacer Lunt Large Cap Alternator ETF | 21.2% | 0 bp | +1.1% |
| IPDP | Dividend Performers ETF | 20.1% | +62 bp | +0.5% |
| LVOL | American Century Low Volatility ETF | 19.9% | -31 bp | +0.8% |
| RSPN | Invesco S&P 500 Equal Weight Industrials ETF | 19.6% | -20 bp | -0.6% |
Risk and Returns: DVOL vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/17/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
DVOL
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
DVOL
4.4%
Cat. Avg
5.9%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.4% |
Recommendation
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.
Category Overview
There are 886 funds in the US Equities category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.7%. DVOL's ALTAR Score™ is approximately
0.5 standard deviations
below
the category average. This places DVOL in the 29th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
DVOL
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DVOL | 60.0 | 11.3 | 71.3 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .