EMDM
First Trust Bloomberg Emerging Market Democracies ETF
EMDM follows a principles-based index of large- and mid-cap companies located in emerging market countries considered to have electoral democracy. Holdings are weighted based on a combination of governance score and market capitalization.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
75 bp
EXPENSES
$48.5 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | First Trust |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 02, 2023 |
| Assets (mns) | $48 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Principles-based |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 11.4 % |
| SAMSUNG ELECTRONICS CO LTD | 7.8 % |
| NASPERS LTD-N SHS | 6.1 % |
| FIRSTRAND LTD | 4.4 % |
| GRUPO MEXICO S.A.B. DE C.V. CLASS B | 3.4 % |
| STANDARD BANK GROUP LTD | 3.1 % |
| PETROBRAS - PETROLEO BRAS-PR | 3.1 % |
| PKO BANK POLSKI SA | 3.0 % |
| CAPITEC BANK HOLDINGS LTD | 2.7 % |
| AMERICA MOVIL SAB DE CV CLASS L | 2.3 % |
Constituent Breakdown
| Number of holdings | 634 |
| Herfindahl-Hirschman Index | 393 |
| Wgt avg mkt cap (mns) | $154,938 |
| Large cap (>$10bn) | 95.3% |
| Mid cap ($2-10bn) | 1.7% |
| Small cap (<$2bn) | 0.2% |
| Developed mkts. | 0.0% |
| Emerging mkts. | 100.0% |
Country Exposure
 |
TAIWAN | 17.0 % |
 |
SOUTH AFRICA | 16.4 % |
 |
INDIA | 15.7 % |
 |
SOUTH KOREA | 14.3 % |
 |
MEXICO | 12.8 % |
 |
BRAZIL | 12.2 % |
 |
POLAND | 7.0 % |
 |
HUNGARY | 2.0 % |
 |
PHILIPPINES | 1.4 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 2.4% | 10.7% | -- | -- | -- | -- | 15.0% | Volatility | 14.8% | 15.6% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.93 | 58% |
| MSCI EAFE | 0.84 | 58% |
| MSCI Emg Mkts | 1.11 | 84% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.31% |
| ADV of underlying (mns) | $7,956 |
Technical Indicators
| Recent close | $22.92 |
| 30d moving avg. | $23.65 |
| Annualized volatility | 17.4% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 0.0% |
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. EMDM |
Expenses vs. EMDM |
ALTAR Score™ vs. EMDM |
|---|---|---|---|---|
| STXE | Strive Emerging Markets Ex-China ETF | 54.4% | -43 bp | -0.6% |
| KEMX | KraneShares MSCI Emerging Markets EX China Index ETF | 47.2% | -51 bp | -0.8% |
| EMXC | iShares MSCI Emerging Markets ex China ETF | 47.0% | -50 bp | -0.9% |
| XC | WisdomTree Emerging Markets Ex-China Fund | 42.5% | -43 bp | -1.6% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 40.0% | -26 bp | -0.8% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 39.9% | -45 bp | 0.0% |
| XCEM | Columbia EM Core ex-China ETF | 39.4% | -59 bp | -0.2% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 38.4% | -60 bp | -0.1% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 38.3% | -5 bp | -1.1% |
| EEM | iShares MSCI Emerging Markets ETF | 37.3% | -6 bp | -0.5% |
Risk and Returns: EMDM 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 7/25/2024
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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
EMDM
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™
EMDM
7.4%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 7.4% |
Recommendation
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.
Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. EMDM's ALTAR Score™ is approximately
0.0 standard deviations
below
the category average. This places EMDM in the 49th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
EMDM
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| EMDM (75 bp) Percentile rank | 64 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| EMDM | 75.0 | 30.5 | 105.5 |
| Peer Avg. | 66.6 | 48.3 | 114.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .