FTQI
First Trust Nasdaq BuyWrite Income ETF
The First Trust Low Beta Income ETF is an actively managed portfolio of US large-cap stocks, with an options overlay of short calls and long puts on the S&P 500.
US
EQUITY
Active
MANAGEMENT STYLE
524.6 M
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) | $525 |
| 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 +
| APPLE INC | 7.9 % |
| NVIDIA CORP | 7.1 % |
| MICROSOFT CORP | 7.0 % |
| BROADCOM INC. | 4.6 % |
| TESLA MOTORS INC | 4.6 % |
| AMAZON.COM INC | 4.4 % |
| META PLATFORMS INC | 4.3 % |
| COSTCO WHOLESALE CORP | 2.6 % |
| NETFLIX INC | 2.6 % |
| ALPHABET INC. CLASS A | 2.1 % |
Constituent Breakdown
| Number of holdings | 203 |
| Herfindahl-Hirschman Index | 277 |
| Wgt avg mkt cap (mns) | $1,003,810 |
| Large cap (>$10bn) | 87.9% |
| Mid cap ($2-10bn) | 11.0% |
| Small cap (<$2bn) | 1.1% |
| Developed mkts. | 99.9% |
| Emerging mkts. | 0.1% |
Country Exposure
 |
UNITED STATES | 92.4 % |
 |
BRITAIN | 1.7 % |
 |
ISRAEL | 1.1 % |
 |
IRELAND | 0.8 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 18.0% | 20.7% | 20.0% | 11.3% | 7.1% | 6.0% | 6.4% | Volatility | 10.6% | 10.0% | 11.7% | 14.6% | 13.0% | 13.0% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.64 | 85% |
| MSCI EAFE | 0.54 | 60% |
| MSCI Emg Mkts | 0.40 | 32% |
Liquidity Measures
| Avg. volume (000) | 281 |
| Turnover | 1.1% |
| Avg. Bid/Ask (% of price) | 0.21% |
| ADV of underlying (mns) | $139,106 |
Technical Indicators
| Recent close | $20.82 |
| 30d moving avg. | $20.95 |
| Annualized volatility | 12.1% |
| Relative strength (RSI) | 53 |
| Short interest (ETF) | 3.4% |
| Short interest (underlying) | 3.2% |
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. FTQI |
Expenses vs. FTQI |
ALTAR Score™ vs. FTQI |
|---|---|---|---|---|
| QYLD | Global X NASDAQ 100 Covered Call ETF | 57.5% | -15 bp | +0.7% |
| QRMI | Global X NASDAQ 100 Risk Managed Income ETF | 57.5% | -15 bp | +0.7% |
| NUSI | Nationwide Nasdaq-100 Risk-Managed Income ETF | 57.3% | -7 bp | +0.6% |
| QYLG | Global X Nasdaq 100 Covered Call & Growth ETF | 57.3% | -15 bp | +0.7% |
| QCLR | Global X NASDAQ 100 Collar 95-110 ETF | 57.2% | -50 bp | +1.0% |
| QTR | Global X NASDAQ 100 Tail Risk ETF | 57.1% | -49 bp | +1.0% |
| QYLE | Global X Nasdaq 100 ESG Covered Call ETF | 51.8% | -15 bp | +0.9% |
| XYLD | Global X S&P 500 Covered Call ETF | 51.5% | -15 bp | +1.0% |
| XRMI | Global X S&P 500 Risk Managed Income ETF | 51.4% | -15 bp | +1.0% |
| PBP | Invesco S&P 500 BuyWrite ETF | 51.3% | -26 bp | +1.1% |
Risk and Returns: FTQI 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 12/18/2024
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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
FTQI
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
FTQI
3.4%
Cat. Avg
5.7%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.6%. FTQI's ALTAR Score™ is approximately
0.9 standard deviations
below
the category average. This places FTQI in the 19th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FTQISELL
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 |
| FTQI (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) |
|
|---|---|---|---|
| FTQI | 75.0 | 21.1 | 96.1 |
| Peer Avg. | 56.8 | 24.6 | 81.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .