HDMV
First Trust Horizon Managed Volatility Developed Intl ETF
The First Trust Horizons Managed Volatility Developed International ETF is an active fund of low expected volatility mid- and large-cap stocks from developed markets.
International
EQUITY
Active
MANAGEMENT STYLE
31.1 M
ASSETS UNDER MGMT
80 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 24, 2016 |
| Assets (mns) | $31 |
| Expense ratio | 80 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| DEUTSCHE TELEKOM AG | 2.1 % |
| ZURICH FINANCIAL SERVICES AG | 2.1 % |
| LONDON STOCK EXCHANGE GROUP | 2.1 % |
| UNITED OVERSEAS BANK LTD | 2.0 % |
| DANONE | 1.9 % |
| OVERSEA-CHINESE BANKING CORP | 1.9 % |
| SWISSCOM AG | 1.9 % |
| ROYAL KPN NV | 1.8 % |
| SWISS PRIME SITE-REG | 1.6 % |
| UNILEVER PLC | 1.4 % |
Constituent Breakdown
| Number of holdings | 159 |
| Herfindahl-Hirschman Index | 91 |
| Wgt avg mkt cap (mns) | $41,766 |
| Large cap (>$10bn) | 78.7% |
| Mid cap ($2-10bn) | 21.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
JAPAN | 15.6 % |
 |
SWITZERLAND | 12.3 % |
 |
BRITAIN | 12.3 % |
 |
SINGAPORE | 10.2 % |
 |
GERMANY | 8.3 % |
 |
FRANCE | 7.9 % |
 |
AUSTRALIA | 6.4 % |
 |
NETHERLANDS | 6.4 % |
 |
ITALY | 4.5 % |
 |
SPAIN | 4.0 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 7.1% | 17.1% | 14.8% | 1.8% | 0.7% | -- | 3.3% | Volatility | 10.1% | 10.2% | 11.0% | 12.1% | 15.0% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.57 | 53% |
| MSCI EAFE | 0.71 | 84% |
| MSCI Emg Mkts | 0.62 | 64% |
Liquidity Measures
| Avg. volume (000) | 8 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.22% |
| ADV of underlying (mns) | $9,890 |
Technical Indicators
| Recent close | $29.59 |
| 30d moving avg. | $30.93 |
| Annualized volatility | 13.6% |
| Relative strength (RSI) | 44 |
| 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. HDMV |
Expenses vs. HDMV |
ALTAR Score™ vs. HDMV |
|---|---|---|---|---|
| IDLV | Invesco S&P International Developed Low Volatility ETF | 48.9% | -55 bp | +0.7% |
| EFAV | iShares MSCI EAFE Min Vol Factor ETF | 42.1% | -58 bp | +1.0% |
| DWMF | WisdomTree International Multifactor Fund | 37.8% | -42 bp | +1.8% |
| QLVD | FlexShares Developed Markets ex-US Quality Low Volatility In | 30.5% | -48 bp | +0.4% |
| QEFA | SPDR MSCI EAFE StrategicFactors ETF | 30.2% | -50 bp | +1.7% |
| DOL | WisdomTree International LargeCap Dividend Fund | 27.2% | -32 bp | +2.4% |
| CIL | VictoryShares International Volatility Wtd ETF | 26.7% | -35 bp | +1.4% |
| CIZ | VictoryShares Developed Enhanced Volatility Wtd ETF | 26.5% | -29 bp | +1.5% |
| EFV | iShares MSCI EAFE Value ETF | 26.0% | -46 bp | +3.9% |
| TPIF | Timothy Plan International ETF | 25.6% | -18 bp | +1.2% |
Risk and Returns: HDMV 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 11/22/2024
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
HDMV
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™
HDMV
5.6%
Cat. Avg
7.3%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.3% and a standard deviation of
2.6%. HDMV's ALTAR Score™ is approximately
0.7 standard deviations
below
the category average. This places HDMV in the 25th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
HDMVSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active International Equity ETFs |
| # of ETFs | 38 |
| Avg. Expense Ratio | 56.2 bp |
| Std. Deviation | 24 bp |
| HDMV (80 bp) Percentile rank | 84 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| HDMV | 80.0 | 22.0 | 102 |
| Peer Avg. | 42.7 | 43.1 | 85.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .