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First Trust Horizon Managed Volatility Developed International ETF
Active ETF
HDMV
Payout Change
Pending
Price as of:
$30.18
+0.16
+0.53%
primary theme
International Large-Cap Value Equity
HDMV (ETF)
First Trust Horizon Managed Volatility Developed International ETF
Payout Change
Pending
Price as of:
$30.18
+0.16
+0.53%
primary theme
International Large-Cap Value Equity
HDMV (ETF)
First Trust Horizon Managed Volatility Developed International ETF
Payout Change
Pending
Price as of:
$30.18
+0.16
+0.53%
primary theme
International Large-Cap Value Equity
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
First Trust Horizon Managed Volatility Developed International ETF
HDMV | Active ETF
$30.18
$33.1 M
4.18%
$1.26
0.80%
Vitals
YTD Return
7.6%
1 yr return
14.1%
3 Yr Avg Return
1.1%
5 Yr Avg Return
0.5%
Net Assets
$33.1 M
Holdings in Top 10
17.7%
52 WEEK LOW AND HIGH
$30.0
$26.83
$32.11
Expenses
OPERATING FEES
Expense Ratio 0.80%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 127.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
First Trust Horizon Managed Volatility Developed International ETF
HDMV | Active ETF
$30.18
$33.1 M
4.18%
$1.26
0.80%
HDMV - Profile
Distributions
- YTD Total Return 7.6%
- 3 Yr Annualized Total Return 1.1%
- 5 Yr Annualized Total Return 0.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.68%
- Dividend Yield 4.2%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameFirst Trust Horizon Managed Volatility Developed International ETF
-
Fund Family NameFirst Trust Advisors L.P.
-
Inception DateAug 24, 2016
-
Shares Outstanding1800002
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerScott Ladner
Fund Description
Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (including investment borrowings) in common stocks and depositary receipts of developed market companies listed and traded on non-U.S. exchanges that Horizon Investments, LLC (“Horizon” or the “Sub-Advisor”) believes exhibit low future expected volatility. The term “developed market companies” means those companies (i) whose securities are traded principally on a stock exchange in a developed market country, (ii) with a primary business office in a developed market country, or (iii) that have at least 50% of their assets in, or derive at least 50% of their revenues or profits from, a developed market country. The Sub-Advisor considers Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States to be developed market countries. However, this list may change in response to market and geopolitical events. Under normal market conditions, the Fund will invest in at least three countries and at least 40% of its net assets in countries other than the United States.The goal of this strategy is to capture upside price movements in rising markets and reduce downside risk when markets decline. To implement this strategy, in selecting securities for the Fund from a portfolio of eligible securities, the Sub-Advisor employs volatility forecasting models to forecast future expected volatility. The strategy is largely quantitative and rules-based, but also includes multiple parameters over which the Sub-Advisor may exercise discretion (including, but not limited to, the number of holdings and the weightings of particular holdings) in connection with its active management of the Fund.To begin, the Sub-Advisor gathers pricing and generates return data for the starting universe, which is comprised of common stocks and depositary receipts of large and mid-cap securities across developed markets, which securities have been pre-screened by the Sub-Advisor to ensure they are liquid and accessible for trading. The Sub-Advisor then conducts volatility forecasts for securities comprising the starting universe and ranks them from low to high based on their volatility forecasts. The Sub-Advisor targets 100-400 securities for inclusion in the portfolio based on future expected volatility. Once the final portfolio is selected, the Sub-Advisor measures co-movements of the selected securities using statistical techniques designed to reduce estimation error. In the final portfolio construction, the Sub-Advisor gives larger weights to securities with lower future expected volatility and has the ability to adjust how aggressive the weighting scheme is depending on market conditions. The Sub-Advisor periodically rebalances and reallocates the portfolio using this methodology, which may result in higher levels of portfolio turnover. The Fund may invest in securities that are denominated in U.S. or non-U.S. currencies.As of October 31, 2023 the Fund had significant investments in Japanese issuers, companies operating in Asia and companies operating in Europe, although this may change from time to time. To the extent the Fund invests a significant portion of its assets in a given jurisdiction or investment sector, the Fund may be exposed to the risks associated with that jurisdiction or investment sector.
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HDMV - Performance
Return Ranking - Trailing
| Period | HDMV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.6% | -2.3% | 17.0% | 52.79% |
| 1 Yr | 14.1% | 0.8% | 28.3% | 84.59% |
| 3 Yr | 1.1%* | -3.1% | 77.6% | 90.76% |
| 5 Yr | 0.5%* | 0.5% | 45.8% | 100.00% |
| 10 Yr | N/A* | 0.0% | 22.9% | 68.16% |
* Annualized
Return Ranking - Calendar
| Period | HDMV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.1% | 1.0% | 26.9% | 95.48% |
| 2022 | -14.5% | -27.8% | 166.1% | 65.70% |
| 2021 | 4.1% | -66.6% | 64.4% | 81.58% |
| 2020 | -10.8% | -17.0% | 17.3% | 93.47% |
| 2019 | 10.9% | 4.4% | 31.6% | 85.51% |
Total Return Ranking - Trailing
| Period | HDMV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.6% | -2.3% | 17.0% | 52.79% |
| 1 Yr | 14.1% | 0.8% | 28.3% | 84.59% |
| 3 Yr | 1.1%* | -3.1% | 77.6% | 90.76% |
| 5 Yr | 0.5%* | 0.5% | 45.8% | 100.00% |
| 10 Yr | N/A* | 0.0% | 22.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | HDMV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.6% | 5.4% | 31.0% | 97.74% |
| 2022 | -11.5% | -19.9% | 344.3% | 67.96% |
| 2021 | 7.4% | -0.2% | 75.3% | 90.79% |
| 2020 | -9.4% | -11.8% | 18.9% | 97.25% |
| 2019 | 15.0% | 11.2% | 32.1% | 86.93% |
HDMV - Holdings
Concentration Analysis
| HDMV | Category Low | Category High | HDMV % Rank | |
|---|---|---|---|---|
| Net Assets | 33.1 M | 3.42 M | 46.7 B | 96.14% |
| Number of Holdings | 151 | 2 | 2513 | 34.41% |
| Net Assets in Top 10 | 5.81 M | 628 K | 13.8 B | 97.11% |
| Weighting of Top 10 | 17.67% | 6.2% | 100.0% | 83.23% |
Top 10 Holdings
- United Overseas Bank Ltd 2.04%
- Oversea-Chinese Banking Corp Ltd 2.02%
- Singapore Exchange Ltd 2.00%
- Koninklijke KPN NV 1.96%
- Danone SA 1.81%
- Swisscom AG 1.72%
- Zurich Insurance Group AG 1.55%
- Swiss Prime Site AG 1.53%
- Unilever PLC 1.52%
- Deutsche Telekom AG 1.52%
Asset Allocation
| Weighting | Return Low | Return High | HDMV % Rank | |
|---|---|---|---|---|
| Stocks | 99.60% | 7.74% | 104.54% | 8.36% |
| Cash | 0.40% | 0.00% | 13.78% | 90.35% |
| Preferred Stocks | 0.00% | 0.00% | 4.41% | 69.77% |
| Other | 0.00% | -0.05% | 43.33% | 65.59% |
| Convertible Bonds | 0.00% | 0.00% | 0.15% | 36.33% |
| Bonds | 0.00% | 0.00% | 81.81% | 39.87% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | HDMV % Rank | |
|---|---|---|---|---|
| Financial Services | 17.17% | 0.00% | 42.76% | 76.95% |
| Real Estate | 14.90% | 0.00% | 17.06% | 0.65% |
| Communication Services | 14.61% | 0.29% | 22.75% | 3.57% |
| Industrials | 13.22% | 1.03% | 36.79% | 50.00% |
| Utilities | 12.43% | 0.00% | 27.46% | 3.57% |
| Consumer Defense | 12.25% | 0.00% | 31.84% | 15.58% |
| Healthcare | 5.86% | 0.00% | 23.28% | 85.39% |
| Consumer Cyclical | 5.03% | 0.00% | 27.46% | 91.88% |
| Technology | 2.89% | 0.00% | 24.16% | 83.77% |
| Basic Materials | 1.37% | 0.00% | 30.76% | 98.38% |
| Energy | 0.28% | 0.00% | 26.59% | 90.91% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | HDMV % Rank | |
|---|---|---|---|---|
| Non US | 98.13% | 0.00% | 99.55% | 7.07% |
| US | 1.48% | 0.00% | 100.40% | 77.49% |
HDMV - Expenses
Operational Fees
| HDMV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.80% | 0.01% | 5.99% | 71.70% |
| Management Fee | 0.80% | 0.00% | 1.25% | 80.97% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 10.67% |
| Administrative Fee | N/A | 0.03% | 0.47% | N/A |
Sales Fees
| HDMV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| HDMV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| HDMV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 127.00% | 2.00% | 158.16% | 98.53% |
HDMV - Distributions
Dividend Yield Analysis
| HDMV | Category Low | Category High | HDMV % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.18% | 0.00% | 13.19% | 59.03% |
Dividend Distribution Analysis
| HDMV | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| HDMV | Category Low | Category High | HDMV % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.68% | 0.18% | 7.85% | 39.67% |
Capital Gain Distribution Analysis
| HDMV | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 26, 2024 | $0.315 | OrdinaryDividend |
| Jun 27, 2024 | $0.424 | OrdinaryDividend |
| Mar 21, 2024 | $0.092 | OrdinaryDividend |
| Dec 22, 2023 | $0.141 | OrdinaryDividend |
| Sep 22, 2023 | $0.266 | OrdinaryDividend |
| Jun 27, 2023 | $0.352 | OrdinaryDividend |
| Mar 24, 2023 | $0.147 | OrdinaryDividend |
| Dec 23, 2022 | $0.133 | OrdinaryDividend |
| Sep 23, 2022 | $0.306 | OrdinaryDividend |
| Jun 24, 2022 | $0.496 | OrdinaryDividend |
| Mar 25, 2022 | $0.023 | OrdinaryDividend |
| Dec 23, 2021 | $0.100 | OrdinaryDividend |
| Sep 23, 2021 | $0.275 | OrdinaryDividend |
| Jun 24, 2021 | $0.576 | OrdinaryDividend |
| Mar 25, 2021 | $0.038 | OrdinaryDividend |
| Dec 24, 2020 | $0.222 | OrdinaryDividend |
| Sep 24, 2020 | $0.095 | OrdinaryDividend |
| Jun 25, 2020 | $0.127 | OrdinaryDividend |
| Dec 13, 2019 | $0.427 | OrdinaryDividend |
| Sep 25, 2019 | $0.289 | OrdinaryDividend |
| Jun 14, 2019 | $0.414 | OrdinaryDividend |
| Mar 21, 2019 | $0.114 | OrdinaryDividend |
| Dec 18, 2018 | $0.131 | OrdinaryDividend |
| Sep 14, 2018 | $0.208 | OrdinaryDividend |
| Jun 21, 2018 | $0.541 | OrdinaryDividend |
| Mar 22, 2018 | $0.010 | OrdinaryDividend |
| Dec 21, 2017 | $0.084 | OrdinaryDividend |
| Sep 21, 2017 | $0.473 | OrdinaryDividend |
| Jun 22, 2017 | $0.504 | OrdinaryDividend |
| Mar 23, 2017 | $0.047 | OrdinaryDividend |
| Dec 21, 2016 | $0.050 | OrdinaryDividend |
HDMV - Fund Manager Analysis
Managers
Scott Ladner
Start Date
Tenure
Tenure Rank
Aug 24, 2016
5.77
5.8%
Mr. Ladner serves as Chief Investment Officer and is the Chair of the Investment Committee for Horizon. In these capacities, he oversees all aspects of the Investment Management division for the firm. He also provides the Investment Management division with Macro analysis and interpretation of global derivatives, credit, foreign exchange, equity, and funding markets. His previous roles at Horizon included Head of Risk and Director of Quantitative & Alternative Strategies. Prior to Horizon, Mr. Ladner was a founder of Charlotte Global Advisors and Principal Guard, LLC. Mr. Ladner helped to launch an equity index volatility and dispersion trading unit at PEΔK6 Investments in Chicago, a proprietary listed option and volatility trading firm. Previously at First Union/Wachovia, Mr. Ladner founded and ran the equity swap and forwards portfolio while also managing equity option and volatility portfolios. He also co-founded and managed the Risk Arbitrage and Special Situations portfolio.Mr. Ladner then managed the swaption and cap/floor portion of the bank’s interest rate derivatives portfolio. Mr. Ladner received his BA in Economics and Russian Language & Literature from the University of North Carolina at Chapel Hill.
Steven Clark
Start Date
Tenure
Tenure Rank
Aug 24, 2016
5.77
5.8%
Dr. Clark serves as Managing Director of Structured Financial Solutions for Horizon. He is also an Associate Professor of Finance at UNC Charlotte, where he conducts research in the areas of mathematical finance, derivative securities, asset pricing, and financial econometrics. His work at Horizon focuses on volatility forecasting models, dynamic factor models, and other quantitative methods. He has a Ph.D. in Mathematical Sciences (with a concentration in applied probability and stochastic modeling) and a Ph.D. in Applied Economics (with a concentration in financial economics), both from Clemson University.
Michael Dickson
Start Date
Tenure
Tenure Rank
Aug 24, 2016
5.77
5.8%
Dr. Dickson serves as Head of Portfolio Management and in this role oversees all investment strategies managed by Horizon. He also conducts research on the development of quantitative methods and strategies that support Horizon’s investment process and new product development. His research is published in scholarly journals and he frequently speaks on these topics at industry conferences. In previous roles at Horizon, he served as Director of Structured Financial Solutions and as a portfolio manager with an emphasis on retirement income and protection strategies. Dr. Dickson specializes in the areas of empirical asset pricing, portfolio construction, and factor models. Both during and after his Ph.D. studies he taught undergraduate and graduate school coursework in finance and portfolio management at UNC Charlotte. Prior to earning his Ph.D. he worked in financial analysis support roles at Premier, Inc. and Global Compliance. Dr. Dickson received his BS in Chemistry from Winthrop University and both an MS in Economics and Ph.D. in Finance from UNC Charlotte.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 29.68 | 7.75 | 0.54 |
