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
5.6 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 +
| MARFRIG ALIMENTOS SA | 3.8 % |
| JBS SA | 3.7 % |
| EMPRESA BRAS DE AERONAUTICA | 3.5 % |
| PORTO SEGURO SA | 3.4 % |
| PAGSEGURO DIGITAL LTD. CLASS A | 3.3 % |
| VIBRA ENERGIA SA | 3.2 % |
| CIA DE SANEAMENTO DO PARANA SA - SANEPAR | 3.2 % |
| VALE SA | 3.2 % |
| CIA SANEAMENTO BASICO DE SP | 3.1 % |
| TIM SA (BRAZIL) | 3.1 % |
Constituent Breakdown
| Number of holdings | 52 |
| Herfindahl-Hirschman Index | 242 |
| Wgt avg mkt cap (mns) | $9,116 |
| Large cap (>$10bn) | 26.7% |
| Mid cap ($2-10bn) | 57.7% |
| Small cap (<$2bn) | 11.5% |
| Developed mkts. | 4.5% |
| Emerging mkts. | 95.5% |
Country Exposure
 |
BRAZIL | 94.1 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 4.1% | -21.4% | -4.0% | -8.6% | -8.8% | -4.2% | -- | -8.2% |
| Dividend Yield | 8.2% | 5.9% | 9.9% | 5.2% | 18.8% | 9.0% | -- | 6.3% |
| Total Returns | 12.3% | -15.5% | 5.9% | -3.4% | 10.0% | 4.8% | -- | -1.9% | Ann. Volatility | 27.2% | 23.5% | 23.6% | 28.1% | 38.8% | 36.1% | -- | 34.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.97 | 40% |
| MSCI EAFE | 1.10 | 50% |
| MSCI Emg Mkts | 0.84 | 29% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.99% |
| ADV of underlying (mns) | $1,553 |
Technical Indicators
| Recent close | $10.21 |
| 30d moving avg. | $10.00 |
| Annualized volatility | 26.9% |
| Relative strength (RSI) | 50 |
| 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. FBZ |
Expenses vs. FBZ |
ALTAR Score™ vs. FBZ |
|---|---|---|---|---|
| FLBR | Franklin FTSE Brazil ETF | 41.0% | -61 bp | +2.6% |
| EWZ | iShares MSCI Brazil ETF | 36.9% | -22 bp | +0.8% |
| FLN | First Trust Latin America AlphaDEX Fund | 35.7% | 0 bp | -3.1% |
| FLLA | Franklin FTSE Latin America ETF | 30.3% | -61 bp | +0.2% |
| EWZS | iShares MSCI Brazil Small-Cap ETF | 22.5% | -21 bp | 0.0% |
| DVYE | iShares Emerging Markets Dividend ETF | 12.8% | -31 bp | +6.5% |
| ECOW | Pacer Emerging Markets Cash Cows 100 ETF | 10.5% | -10 bp | +3.1% |
| FTHF | First Trust Emerging Markets Human Flourishing ETF | 10.3% | -5 bp | -3.4% |
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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2024 | 2025E | Fwd Est | 2026E | |
| 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 4/17/2025
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
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
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
FBZ
13.5%
Cat. Avg
10.0%
ALTAR Score™ Calculation
Category Overview
There are 151 funds in the Emerging Equity category, with an average ALTAR Score™
of 10.0% and a standard deviation of
4.2%. FBZ's ALTAR Score™ is approximately
0.8 standard deviations
above
the category average. This places FBZ in the 79th 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 | 70 |
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. | 48.7 | 41.5 | 90.2 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .