FBZ
First Trust Brazil AlphaDEX Fund
First Trust Brazil AlphaDEX Fund seeks investment results that correspond to the Defined Brazil Index.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
5.8 M
ASSETS UNDER MGMT
80 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust Advisors LP |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Apr 18, 2011 |
| Assets (mns) | $6 |
| Expense ratio | 80 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| INTER & CO, INC. (CLASS A) | 8.8 % |
| EMPRESA BRAS DE AERONAUTICA | 4.8 % |
| MARFRIG ALIMENTOS SA | 4.3 % |
| CIA ENERGETICA MINAS GER-PRF | 3.9 % |
| NU HOLDINGS LTD. CLASS A | 3.6 % |
| GERDAU S.A. | 3.4 % |
| JBS SA | 3.4 % |
| VIBRA ENERGIA SA | 3.4 % |
| LOJAS RENNER S.A. | 3.3 % |
| METALURGICA GERDAU SA-PREF | 3.3 % |
Constituent Breakdown
| Number of holdings | 52 |
| Herfindahl-Hirschman Index | 323 |
| Wgt avg mkt cap (mns) | $13,000 |
| Large cap (>$10bn) | 31.7% |
| Mid cap ($2-10bn) | 49.5% |
| Small cap (<$2bn) | 16.1% |
| Developed mkts. | 5.5% |
| Emerging mkts. | 94.5% |
Country Exposure
 |
BRAZIL | 87.6 % |
 |
CAYMAN ISLANDS | 3.6 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -10.6% | 11.6% | 4.8% | 6.6% | -0.7% | 2.1% | -1.5% | Volatility | 21.6% | 22.0% | 25.6% | 28.0% | 38.7% | 36.2% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.06 | 47% |
| MSCI EAFE | 1.00 | 44% |
| MSCI Emg Mkts | 0.71 | 22% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.99% |
| ADV of underlying (mns) | $1,844 |
Technical Indicators
| Recent close | $10.54 |
| 30d moving avg. | $11.04 |
| Annualized volatility | 26.7% |
| Relative strength (RSI) | 46 |
| 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. FBZ |
Expenses vs. FBZ |
ALTAR Score™ vs. FBZ |
|---|---|---|---|---|
| FLN | First Trust Latin America AlphaDEX Fund | 46.5% | 0 bp | -4.8% |
| FLBR | Franklin FTSE Brazil ETF | 39.3% | -61 bp | -0.1% |
| EWZ | iShares MSCI Brazil ETF | 39.0% | -22 bp | -3.0% |
| FLLA | Franklin FTSE Latin America ETF | 29.6% | -61 bp | -0.1% |
| EWZS | iShares MSCI Brazil Small-Cap ETF | 13.9% | -21 bp | -2.3% |
| BRAZ | Global X Brazil Active ETF | 13.9% | -5 bp | -3.2% |
| FTHF | First Trust Emerging Markets Human Flourishing ETF | 11.8% | -5 bp | -4.3% |
| EMDM | First Trust Bloomberg Emerging Market Democracies ETF | 11.3% | -5 bp | -5.0% |
| DVYE | iShares Emerging Markets Dividend ETF | 10.2% | -31 bp | +5.7% |
Risk and Returns: FBZ 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 11/15/2024
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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
FBZ
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™
FBZ
13.3%
Cat. Avg
7.8%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.8% and a standard deviation of
4.1%. FBZ's ALTAR Score™ is approximately
1.3 standard deviations
above
the category average. This places FBZ in the 91st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FBZSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| FBZ (80 bp) Percentile rank | 71 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FBZ | 80.0 | 98.5 | 178.5 |
| Peer Avg. | 47.4 | 39.4 | 86.9 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .