FTHI
First Trust BuyWrite Income ETF
The First Trust High Income ETF is an actively managed portfolio of US large-cap stocks, with an overlay of short calls on the S&P 500.
US
EQUITY
Active
MANAGEMENT STYLE
75 bp
EXPENSES
$4.3 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | First Trust |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 06, 2014 |
| Assets (mns) | $4,346 |
| Expense ratio | 75 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Monthly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | Yes |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MICROSOFT CORP | 6.9 % |
| APPLE INC | 5.4 % |
| NVIDIA CORP | 5.0 % |
| AMAZON.COM INC | 3.5 % |
| ALPHABET INC. CLASS A | 2.3 % |
| META PLATFORMS INC | 2.2 % |
| ALPHABET INC. CLASS C | 1.9 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.8 % |
| FIAT CHRYSLER AUTOMOBILES N.V. | 1.5 % |
| ELI LILLY & CO | 1.4 % |
Constituent Breakdown
| Number of holdings | 1117 |
| Herfindahl-Hirschman Index | 182 |
| Wgt avg mkt cap (mns) | $779,360 |
| Large cap (>$10bn) | 80.2% |
| Mid cap ($2-10bn) | 17.3% |
| Small cap (<$2bn) | 1.5% |
| Developed mkts. | 99.7% |
| Emerging mkts. | 0.3% |
Country Exposure
 |
UNITED STATES | 91.2 % |
 |
BRITAIN | 4.3 % |
 |
MONACO | 0.6 % |
 |
SWITZERLAND | 0.6 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 9.2% | 17.7% | 16.1% | 9.4% | 7.2% | 6.0% | 6.7% | Volatility | 6.7% | 7.6% | 12.4% | 13.7% | 15.9% | 15.4% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.63 | 82% |
| MSCI EAFE | 0.61 | 71% |
| MSCI Emg Mkts | 0.44 | 38% |
Liquidity Measures
| Avg. volume (000) | 288 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.17% |
| ADV of underlying (mns) | $282,053 |
Technical Indicators
| Recent close | $22.22 |
| 30d moving avg. | $22.69 |
| Annualized volatility | 12.6% |
| Relative strength (RSI) | 62 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 3.3% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FTHI |
Expenses vs. FTHI |
ALTAR Score™ vs. FTHI |
|---|---|---|---|---|
| XYLD | Global X S&P 500 Covered Call ETF | 61.3% | -15 bp | -1.2% |
| XRMI | Global X S&P 500 Risk Managed Income ETF | 61.2% | -15 bp | -1.2% |
| PBP | Invesco S&P 500 BuyWrite ETF | 61.2% | -26 bp | -1.1% |
| XYLG | Global X S&P 500 Covered Call & Growth ETF | 61.1% | -15 bp | -1.2% |
| XTR | Global X S&P 500 Tail Risk ETF | 61.0% | -49 bp | -0.7% |
| XCLR | Global X S&P 500 Collar 95-110 ETF | 60.9% | -50 bp | -0.8% |
| SFLR | Innovator Equity Managed Floor ETF | 52.9% | +14 bp | -1.6% |
| ACIO | Aptus Collared Investment Opportunity ETF | 48.4% | +4 bp | -1.7% |
| XYLE | Global X S&P 500 ESG Covered Call ETF | 47.6% | -15 bp | -1.1% |
| EFIV | SPDR S&P 500 ESG ETF | 47.5% | -65 bp | -0.7% |
Risk and Returns: FTHI 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
Peer Group Comparison Sample data. Subscribe for access.
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
FTHI
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™
FTHI
5.9%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.9% |
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 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. FTHI's ALTAR Score™ is approximately
0.1 standard deviations
above
the category average. This places FTHI in the 53rd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FTHI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| FTHI (75 bp) Percentile rank | 58 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FTHI | 75.0 | 17.0 | 92 |
| Peer Avg. | 53.9 | 22.2 | 76.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .