MISL
First Trust Indxx Aerospace & Defense ETF
MISL tracks a market cap-weighted index of 50 US companies involved in advanced and traditional aerospace and defense.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
103.3 M
ASSETS UNDER MGMT
60 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 25, 2022 |
| Assets (mns) | $103 |
| Expense ratio | 60 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| GENERAL DYNAMICS CORP | 8.0 % |
| BOEING CO | 7.8 % |
| RTX CORP | 7.7 % |
| TRANSDIGM GROUP INC | 7.4 % |
| LOCKHEED MARTIN CORP | 7.2 % |
| SAIC INC | 4.6 % |
| HOWMET AEROSPACE INC. | 4.2 % |
| L3HARRIS TECHNOLOGIES INC | 4.1 % |
| CURTISS-WRIGHT CORP | 3.9 % |
| NORTHROP GRUMMAN CORP | 3.9 % |
Constituent Breakdown
| Number of holdings | 35 |
| Herfindahl-Hirschman Index | 480 |
| Wgt avg mkt cap (mns) | $59,768 |
| Large cap (>$10bn) | 80.6% |
| Mid cap ($2-10bn) | 16.0% |
| Small cap (<$2bn) | 3.5% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.9 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 23.2% | 38.5% | -- | -- | -- | -- | 22.0% | Volatility | 13.7% | 13.5% | 14.9% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.79 | 40% |
| MSCI EAFE | 0.76 | 51% |
| MSCI Emg Mkts | 0.56 | 24% |
Liquidity Measures
| Avg. volume (000) | 38 |
| Turnover | 1.2% |
| Avg. Bid/Ask (% of price) | 0.24% |
| ADV of underlying (mns) | $12,319 |
Technical Indicators
| Recent close | $31.30 |
| 30d moving avg. | $32.02 |
| Annualized volatility | 15.1% |
| Relative strength (RSI) | 50 |
| Short interest (ETF) | 0.6% |
| 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. MISL |
Expenses vs. MISL |
ALTAR Score™ vs. MISL |
|---|---|---|---|---|
| XAR | SPDR S&P Aerospace & Defense ETF | 62.1% | -25 bp | -0.6% |
| PPA | Invesco Aerospace & Defense ETF | 61.3% | -2 bp | -0.2% |
| ITA | iShares U.S. Aerospace & Defense ETF | 58.3% | -20 bp | +0.1% |
| NATO | Themes Transatlantic Defense ETF | 47.3% | -25 bp | +0.6% |
| SHLD | Global X Defense Tech ETF | 45.1% | -10 bp | +2.0% |
| ROKT | SPDR S&P Kensho Final Frontiers ETF | 40.3% | -15 bp | -0.2% |
| FITE | SPDR S&P Kensho Future Security ETF | 30.3% | -15 bp | -0.4% |
| XLI | Industrial Select Sector SPDR Fund | 17.7% | -51 bp | +1.6% |
| FIDU | Fidelity MSCI Industrial Index ETF | 15.9% | -52 bp | +1.9% |
| FTWO | Strive FAANG 2.0 ETF | 14.9% | -11 bp | +2.2% |
Risk and Returns: MISL 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
MISL
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™
MISL
2.6%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. MISL's ALTAR Score™ is approximately
1.2 standard deviations
below
the category average. This places MISL in the 12nd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
MISLSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| MISL (60 bp) Percentile rank | 67 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MISL | 60.0 | 24.0 | 84 |
| Peer Avg. | 46.8 | 16.9 | 63.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .