MMSC
First Trust Multi-Manager Small Cap Opportunities ETF
MMSC is an actively managed ETF that utilizes a multi-manager approach to provide exposure to small-cap US growth stocks.
US
EQUITY
Active
MANAGEMENT STYLE
25.3 M
ASSETS UNDER MGMT
95 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 13, 2021 |
| Assets (mns) | $25 |
| Expense ratio | 95 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| 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 +
| US DOLLAR | 3.3 % |
| CYBERARK SOFTWARE LTD. | 1.7 % |
| BELLRING BRANDS, INC. CLASS A | 1.7 % |
| AAON INC | 1.4 % |
| LEONARDO DRS, INC. | 1.3 % |
| CRINETICS PHARMACEUTICALS INC | 1.3 % |
| ASTERA LABS INC | 1.2 % |
| AXON ENTERPRISE INC | 1.2 % |
| VARONIS SYSTEMS INC | 1.2 % |
| SWEETGREEN, INC. CLASS A | 1.1 % |
Constituent Breakdown
| Number of holdings | 210 |
| Herfindahl-Hirschman Index | 79 |
| Wgt avg mkt cap (mns) | $7,832 |
| Large cap (>$10bn) | 24.3% |
| Mid cap ($2-10bn) | 62.2% |
| Small cap (<$2bn) | 13.0% |
| Developed mkts. | 99.3% |
| Emerging mkts. | 0.7% |
Country Exposure
 |
UNITED STATES | 89.2 % |
 |
ISRAEL | 3.4 % |
 |
CANADA | 1.5 % |
 |
BRAZIL | 0.6 % |
 |
CAYMAN ISLANDS | 0.6 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 29.8% | 40.8% | 20.0% | -- | -- | -- | 9.0% | Volatility | 19.1% | 18.9% | 19.0% | 24.0% | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.10 | 83% |
| MSCI EAFE | 0.88 | 53% |
| MSCI Emg Mkts | 0.55 | 22% |
Liquidity Measures
| Avg. volume (000) | 9 |
| Turnover | 0.8% |
| Avg. Bid/Ask (% of price) | 0.27% |
| ADV of underlying (mns) | $15,284 |
Technical Indicators
| Recent close | $21.07 |
| 30d moving avg. | $22.25 |
| Annualized volatility | 21.2% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.9% |
| 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. MMSC |
Expenses vs. MMSC |
ALTAR Score™ vs. MMSC |
|---|---|---|---|---|
| FNY | First Trust Mid Cap Growth AlphaDEX Fund | 29.3% | -25 bp | +2.0% |
| IWO | iShares Russell 2000 Growth ETF | 23.9% | -71 bp | -0.3% |
| VTWG | Vanguard Russell 2000 Growth ETF | 23.7% | -80 bp | -0.2% |
| VBK | Vanguard Small-Cap Growth ETF | 23.5% | -88 bp | +0.2% |
| ISCG | iShares Morningstar Small-Cap Growth ETF | 23.3% | -89 bp | +1.5% |
| FNX | First Trust Mid Cap Core AlphaDEX Fund | 18.8% | -35 bp | +6.4% |
| STXM | Strive Mid-Cap ETF | 18.0% | -77 bp | +5.4% |
| SFYX | SoFi Next 500 ETF | 17.7% | -95 bp | +4.0% |
| SMLF | iShares U.S. SmallCap Equity Factor ETF | 17.1% | -80 bp | +4.0% |
| JHSC | John Hancock Multifactor Small Cap ETF | 16.7% | -53 bp | +6.1% |
Risk and Returns: MMSC 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 12/20/2024
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
MMSC
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™
MMSC
0.9%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. MMSC's ALTAR Score™ is approximately
1.8 standard deviations
below
the category average. This places MMSC in the 3rd percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
MMSCSELL
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 |
| MMSC (95 bp) Percentile rank | 79 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MMSC | 95.0 | 27.1 | 122.1 |
| Peer Avg. | 44.4 | 19.4 | 63.7 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .