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
1.2 B
ASSETS UNDER MGMT
75 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 06, 2014 |
| Assets (mns) | $1,220 |
| 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 +
| US DOLLAR | 6.5 % |
| MICROSOFT CORP | 4.9 % |
| APPLE INC | 4.7 % |
| NVIDIA CORP | 4.7 % |
| AMAZON.COM INC | 2.9 % |
| META PLATFORMS INC | 2.4 % |
| JOHNSON & JOHNSON | 2.0 % |
| BERKSHIRE HATHAWAY INC-CL B | 1.9 % |
| BROADCOM INC. | 1.8 % |
| ALPHABET INC. CLASS A | 1.7 % |
Constituent Breakdown
| Number of holdings | 237 |
| Herfindahl-Hirschman Index | 169 |
| Wgt avg mkt cap (mns) | $775,851 |
| Large cap (>$10bn) | 83.9% |
| Mid cap ($2-10bn) | 14.2% |
| Small cap (<$2bn) | 0.7% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.1% |
Country Exposure
 |
UNITED STATES | 82.6 % |
 |
BRITAIN | 3.8 % |
 |
IRELAND | 1.0 % |
 |
GERMANY | 0.9 % |
 |
SWITZERLAND | 0.8 % |
 |
CANADA | 0.8 % |
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 | -0.6% | 4.7% | 7.6% | 1.7% | 2.5% | 1.0% | -- | 1.3% |
| Dividend Yield | -5.5% | -3.0% | 4.5% | 4.8% | 9.6% | 4.6% | -- | 5.0% |
| Total Returns | -6.1% | 1.7% | 12.1% | 6.5% | 12.1% | 5.6% | -- | 6.3% | Ann. Volatility | 11.4% | 9.6% | 9.2% | 13.1% | 15.9% | 15.3% | -- | 15.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.71 | 92% |
| MSCI EAFE | 0.60 | 64% |
| MSCI Emg Mkts | 0.42 | 31% |
Liquidity Measures
| Avg. volume (000) | 532 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.17% |
| ADV of underlying (mns) | $157,289 |
Technical Indicators
| Recent close | $21.39 |
| 30d moving avg. | $21.59 |
| Annualized volatility | 12.9% |
| Relative strength (RSI) | 42 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 3.3% |
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. FTHI |
Expenses vs. FTHI |
ALTAR Score™ vs. FTHI |
|---|---|---|---|---|
| XYLD | Global X S&P 500 Covered Call ETF | 58.2% | -15 bp | -0.4% |
| XRMI | Global X S&P 500 Risk Managed Income ETF | 58.1% | -15 bp | -0.4% |
| PBP | Invesco S&P 500 BuyWrite ETF | 58.0% | -26 bp | -0.4% |
| XYLG | Global X S&P 500 Covered Call & Growth ETF | 58.0% | -15 bp | -0.4% |
| XTR | Global X S&P 500 Tail Risk ETF | 57.5% | -49 bp | +0.1% |
| XCLR | Global X S&P 500 Collar 95-110 ETF | 57.4% | -50 bp | 0.0% |
| SFLR | Innovator Equity Managed Floor ETF | 50.9% | +14 bp | -1.1% |
| ACIO | Aptus Collared Investment Opportunity ETF | 46.5% | +4 bp | -1.0% |
| FTQI | First Trust Nasdaq BuyWrite Income ETF | 42.1% | 0 bp | -1.6% |
| EFIV | SPDR S&P 500 ESG ETF | 41.8% | -65 bp | 0.0% |
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
| 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 4/24/2025
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
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 Rating
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.
ALTAR Score™
FTHI
5.7%
Cat. Avg
6.0%
ALTAR Score™ Calculation
Category Overview
There are 959 funds in the US Equity category, with an average ALTAR Score™
of 6.0% and a standard deviation of
2.9%. FTHI's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places FTHI in the 45th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FTHISELL
U/W
HOLD
O/W
BUY
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 | 61 |
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. | 53.7 | 33.1 | 86.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .