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
65 bp
EXPENSES
$164.7 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | First Trust |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 06, 2018 |
| Assets (mns) | $165 |
| 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 | 10.5 % |
| ALIBABA GROUP HOLDING LTD. | 10.1 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 9.1 % |
| SHOPIFY, INC. CLASS A | 7.8 % |
| MEITUAN DIANPING | 6.3 % |
| PROSUS N.V. CLASS N | 5.3 % |
| SPOTIFY TECHNOLOGY SA | 4.3 % |
| ADYEN NV | 3.8 % |
| FILTRONA PLC | 3.6 % |
| NASPERS LTD-N SHS | 3.4 % |
Constituent Breakdown
| Number of holdings | 264 |
| Herfindahl-Hirschman Index | 558 |
| Wgt avg mkt cap (mns) | $120,712 |
| Large cap (>$10bn) | 88.9% |
| Mid cap ($2-10bn) | 11.1% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 54.0% |
| Emerging mkts. | 46.0% |
Country Exposure
 |
CHINA | 48.6 % |
 |
NETHERLANDS | 10.1 % |
 |
CANADA | 8.7 % |
 |
SOUTH KOREA | 5.8 % |
 |
BRITAIN | 5.7 % |
 |
LUXEMBOURG | 4.4 % |
 |
SOUTH AFRICA | 3.4 % |
 |
AUSTRALIA | 3.3 % |
 |
JAPAN | 2.9 % |
 |
SINGAPORE | 2.4 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 0.7% | 0.0% | -2.1% | -21.7% | 1.5% | -- | 3.2% | Volatility | 23.9% | 28.1% | 34.9% | 41.2% | 37.8% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.90 | 24% |
| MSCI EAFE | 1.24 | 43% |
| MSCI Emg Mkts | 1.69 | 80% |
Liquidity Measures
| Avg. volume (000) | 13 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 2.55% |
| ADV of underlying (mns) | $6,592 |
Technical Indicators
| Recent close | $22.90 |
| 30d moving avg. | $23.77 |
| Annualized volatility | 33.2% |
| Relative strength (RSI) | 56 |
| Short interest (ETF) | 0.0% |
| 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. FDNI |
Expenses vs. FDNI |
ALTAR Score™ vs. FDNI |
|---|---|---|---|---|
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 51.0% | +21 bp | -0.9% |
| KWEB | KraneShares CSI China Internet ETF | 45.5% | +4 bp | -3.8% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 39.3% | -33 bp | +3.8% |
| FXI | iShares China Large-Cap ETF | 35.4% | +9 bp | +6.7% |
| MCH | Matthews China Active ETF | 34.9% | +14 bp | +3.4% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 33.8% | +4 bp | -7.0% |
| MCHI | iShares MSCI China ETF | 33.4% | -6 bp | +6.1% |
| KEMQ | KraneShares Emerging Markets Consumer Technology Index ETF | 32.5% | -5 bp | -2.4% |
| FLCH | Franklin FTSE China ETF | 32.2% | -46 bp | +6.8% |
| CGRO | CoreValues Alpha Greater China Growth ETF | 29.1% | +10 bp | -3.0% |
Risk and Returns: FDNI 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
FDNI
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™
FDNI
3.0%
Cat. Avg
7.2%
Fund Category: International
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 3.0% |
Recommendation
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 be less relevant.
Category Overview
There are 258 funds in the International category, with an average ALTAR Score™
of 7.2% and a standard deviation of
2.4%. FDNI's ALTAR Score™ is approximately
1.7 standard deviations
below
the category average. This places FDNI in the 4th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FDNI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| FDNI (65 bp) Percentile rank | 82 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FDNI | 65.0 | 255.1 | 320.1 |
| Peer Avg. | 57.7 | 49.9 | 107.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .