FDNI
First Trust Dow Jones International Internet ETF
The First Trust Dow Jones International Internet ETF tracks a market-cap-weighted index of the 20 largest internet services companies and 20 largest internet commerce companies outside of the United States.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
43.8 M
ASSETS UNDER MGMT
65 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 06, 2018 |
| Assets (mns) | $44 |
| Expense ratio | 65 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TENCENT HOLDINGS LTD | 9.8 % |
| ALIBABA GROUP HOLDING LTD. | 9.3 % |
| SHOPIFY, INC. CLASS A | 8.4 % |
| MEITUAN DIANPING | 7.5 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 6.5 % |
| SPOTIFY TECHNOLOGY SA | 5.5 % |
| NASPERS LTD-N SHS | 5.0 % |
| ADYEN NV | 4.8 % |
| PROSUS N.V. CLASS N | 4.8 % |
| SEA LTD. (SINGAPORE) SPONSORED ADR CLASS | 4.2 % |
Constituent Breakdown
| Number of holdings | 44 |
| Herfindahl-Hirschman Index | 530 |
| Wgt avg mkt cap (mns) | $135,363 |
| Large cap (>$10bn) | 90.5% |
| Mid cap ($2-10bn) | 9.4% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 42.2% |
| Emerging mkts. | 57.6% |
Country Exposure
 |
CHINA | 45.6 % |
 |
NETHERLANDS | 9.6 % |
 |
CANADA | 9.3 % |
 |
SOUTH KOREA | 6.3 % |
 |
LUXEMBOURG | 5.5 % |
 |
SOUTH AFRICA | 5.0 % |
 |
SINGAPORE | 4.2 % |
 |
AUSTRALIA | 3.2 % |
 |
BRITAIN | 3.2 % |
 |
GERMANY | 2.3 % |
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 10.6% | 31.3% | 15.5% | 8.1% | 3.2% | -- | -- | 6.4% |
| Dividend Yield | 0.0% | 0.4% | 0.2% | 0.2% | 0.2% | -- | -- | 0.7% |
| Total Returns | 10.6% | 31.7% | 15.7% | 8.4% | 3.4% | -- | -- | 7.1% | Ann. Volatility | 38.5% | 32.2% | 30.5% | 35.4% | 38.1% | -- | -- | 36.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.90 | 22% |
| MSCI EAFE | 1.24 | 43% |
| MSCI Emg Mkts | 1.69 | 80% |
Liquidity Measures
| Avg. volume (000) | 138 |
| ADV traded (mns) | $4 |
| Turnover | 10.2% |
| Avg. Bid/Ask (% of price) | 2.55% |
Technical Indicators
| Recent close | $32.43 |
| 30d moving avg. | $30.01 |
| Annualized volatility | 32.2% |
| Relative strength (RSI) | 58 |
| Short interest | 0.1% |
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. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 51.6% | +21 bp | +13.7% |
| KWEB | KraneShares CSI China Internet ETF | 45.4% | +4 bp | +27.4% |
| KEMQ | KraneShares Emerging Markets Consumer Technology Index ETF | 36.7% | -5 bp | +12.5% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 35.3% | +4 bp | +20.9% |
| FXI | iShares China Large-Cap ETF | 35.2% | +9 bp | +18.3% |
| MCH | Matthews China Active ETF | 34.5% | +14 bp | +15.8% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 33.1% | -33 bp | +18.3% |
| FLCH | Franklin FTSE China ETF | 32.5% | -46 bp | +17.3% |
| MCHI | iShares MSCI China ETF | 31.9% | -6 bp | +18.2% |
| JCHI | JPMorgan Active China ETF | 30.2% | 0 bp | +15.9% |
Risk and Returns: 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 5/23/2025
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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
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 Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
19.5%
Cat. Avg
7.3%
ALTAR Score™ Calculation
Category Overview
There are 254 funds in the International Equity category, with an average ALTAR Score™
of 7.3% and a standard deviation of
1.9%. 's ALTAR Score™ is approximately
6.6 standard deviations
above
the category average. This places in the 99th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FDNISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| (65 bp) Percentile rank | 81 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 65.0 | 0.0 | 65 | |
| Peer Avg. | 55.4 | 62.5 | 117.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .