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.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
56.1 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 05, 2018 |
| Assets (mns) | $56 |
| 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 +
| T-MOBILE US, INC. | 3.4 % |
| VISA INC. CLASS A | 3.2 % |
| REPUBLIC SERVICES INC | 3.2 % |
| DT MIDSTREAM, INC. | 3.1 % |
| KINDER MORGAN INC | 3.1 % |
| MASTERCARD INCORPORATED CLASS A | 2.9 % |
| TJX COMPANIES INC | 2.9 % |
| FISERV, INC. | 2.9 % |
| MARSH & MCLENNAN COS | 2.8 % |
| WILLIAMS COS INC | 2.8 % |
Constituent Breakdown
| Number of holdings | 51 |
| Herfindahl-Hirschman Index | 227 |
| Wgt avg mkt cap (mns) | $194,345 |
| Large cap (>$10bn) | 91.2% |
| Mid cap ($2-10bn) | 8.8% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.7 % |
 |
BRITAIN | 2.6 % |
 |
SWITZERLAND | 2.5 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 34.0% | 37.1% | 17.1% | 8.3% | 11.7% | -- | 11.5% | Volatility | 10.1% | 10.1% | 10.9% | 14.4% | 19.5% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.80 | 71% |
| MSCI EAFE | 0.68 | 51% |
| MSCI Emg Mkts | 0.38 | 16% |
Liquidity Measures
| Avg. volume (000) | 8 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.11% |
| ADV of underlying (mns) | $24,749 |
Technical Indicators
| Recent close | $34.01 |
| 30d moving avg. | $35.72 |
| Annualized volatility | 16.6% |
| Relative strength (RSI) | 59 |
| Short interest (ETF) | 2.4% |
| 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 |
|---|---|---|---|---|
| DDIV | First Trust Dorsey Wright Momentum & Dividend ETF | 37.5% | 0 bp | +2.4% |
| FTCS | First Trust Capital Strength ETF | 29.8% | -5 bp | +2.0% |
| HUSV | First Trust Horizon Managed Volatility Domestic ETF | 26.3% | +10 bp | +0.4% |
| DVLU | First Trust Dorsey Wright Momentum & Value ETF | 21.8% | 0 bp | +5.5% |
| BMVP | Invesco Bloomberg MVP Multi-factor ETF | 21.6% | -31 bp | +1.4% |
| XRLV | Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF | 21.4% | -35 bp | +1.2% |
| SPLV | Invesco S&P 500 Low Volatility ETF | 21.4% | -35 bp | +1.1% |
| ALTL | Pacer Lunt Large Cap Alternator ETF | 21.3% | 0 bp | +0.9% |
| PWB | Invesco Large Cap Growth ETF | 20.7% | -4 bp | -0.8% |
| PFI | Invesco Dorsey Wright Financial Momentum ETF | 20.4% | 0 bp | +1.5% |
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 12/20/2024
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
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 Rating
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.
ALTAR Score™
DVOL
4.1%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. DVOL's ALTAR Score™ is approximately
0.6 standard deviations
below
the category average. This places DVOL in the 28th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DVOLSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| DVOL (60 bp) Percentile rank | 66 |
Peer Group Expense Ratio Distribution
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. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .