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First Trust Horizon Managed Volatility Small/Mid ETF
Active ETF
HSMV
Payout Change
Pending
Price as of:
$35.8894
-0.32
-0.87%
primary theme
U.S. Small-Cap Blend Equity
HSMV (ETF)
First Trust Horizon Managed Volatility Small/Mid ETF
Payout Change
Pending
Price as of:
$35.8894
-0.32
-0.87%
primary theme
U.S. Small-Cap Blend Equity
HSMV (ETF)
First Trust Horizon Managed Volatility Small/Mid ETF
Payout Change
Pending
Price as of:
$35.8894
-0.32
-0.87%
primary theme
U.S. Small-Cap Blend Equity
Name
As of 12/27/2024Price
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 Small/Mid ETF
HSMV | Active ETF
$35.89
$23.3 M
2.72%
$0.98
0.80%
Vitals
YTD Return
14.4%
1 yr return
13.9%
3 Yr Avg Return
3.1%
5 Yr Avg Return
N/A
Net Assets
$23.3 M
Holdings in Top 10
17.2%
52 WEEK LOW AND HIGH
$36.2
$31.25
$38.84
Expenses
OPERATING FEES
Expense Ratio 0.80%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 12/27/2024Price
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 Small/Mid ETF
HSMV | Active ETF
$35.89
$23.3 M
2.72%
$0.98
0.80%
HSMV - Profile
Distributions
- YTD Total Return 14.4%
- 3 Yr Annualized Total Return 3.1%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.02%
- Dividend Yield 2.7%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameFirst Trust Horizon Managed Volatility Small/Mid ETF
-
Fund Family NameFirst Trust Advisors L.P.
-
Inception DateApr 06, 2020
-
Shares Outstanding500002
-
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 small- and/or mid-capitalization common stocks listed and traded on U.S. national securities exchanges that Horizon Investments, LLC (“Horizon” or the “Sub-Advisor”) believes exhibit low future expected volatility. The Fund defines small- and mid-capitalization companies as those that, at the time of investment, have a market capitalization between the minimum and maximum market capitalization of a widely recognized index of small- or mid-capitalization companies, respectively, based upon the composition of the index at the time of investment. As of October 31, 2024, the Fund considers small- and mid-capitalization companies to be those with a market capitalization between $100 million and $30 billion. The exact size of the companies included will change with market conditions and the Fund will not automatically sell or cease to purchase a stock that it already owns due to changes in market conditions. The Fund may also invest in the equity securities of real estate investment trusts ("REITs"). 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, the Sub-Advisor employs volatility forecasting models to forecast future expected volatility. Volatility is a statistical measure of the magnitude of changes in the Fund’s return without regard to the direction of those changes, and higher volatility generally indicates higher risk and is often reflected by frequent and sometimes significant movements up and down in value. A volatility forecast is a statistical estimate of future expected volatility that uses historical price returns over multiple time frames as inputs to determine volatility forecasts for individual equities. Volatility forecasts are a unique estimate of volatility that the Sub-Advisor believes may be more responsive and accurate in predicting future volatility than historical standard deviation. These statistical models attempt to measure observed characteristics of volatility over time in order to estimate the forecasts. 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 historical pricing data and generates return data for the starting universe, which is comprised of common stocks listed and traded on U.S. national securities exchanges that are issued by small- and/or mid-capitalization companies. The Sub-Advisor then uses this data in volatility forecasting models to rank the securities comprising the starting universe from low to high based on their volatility forecasts. Once the final portfolio is selected, the Sub-Advisor gives larger weights to securities with lower future expected volatility; however, the Sub-Advisor may choose to deviate from such approach depending on current market conditions across various market sectors. The Sub-Advisor periodically rebalances and reallocates the portfolio using this methodology, which may result in higher levels of portfolio turnover. As of October 31, 2024, the Fund had significant investments in financial companies, 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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HSMV - Performance
Return Ranking - Trailing
| Period | HSMV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.4% | -7.8% | 33.6% | 24.57% |
| 1 Yr | 13.9% | -7.9% | 32.6% | 24.00% |
| 3 Yr | 3.1%* | -13.3% | 40.5% | 45.09% |
| 5 Yr | N/A* | -13.3% | 31.2% | 35.38% |
| 10 Yr | N/A* | -3.4% | 12.6% | 57.14% |
* Annualized
Return Ranking - Calendar
| Period | HSMV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.4% | -19.9% | 29.0% | 91.78% |
| 2022 | -10.6% | -59.3% | 118.2% | 4.62% |
| 2021 | 22.7% | -31.6% | 39.3% | 12.30% |
| 2020 | N/A | -51.0% | 39.5% | N/A |
| 2019 | N/A | -5.6% | 37.8% | N/A |
Total Return Ranking - Trailing
| Period | HSMV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.4% | -7.8% | 33.6% | 24.57% |
| 1 Yr | 13.9% | -7.9% | 32.6% | 24.00% |
| 3 Yr | 3.1%* | -13.3% | 40.5% | 45.09% |
| 5 Yr | N/A* | -13.3% | 31.2% | N/A |
| 10 Yr | N/A* | -3.4% | 12.6% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | HSMV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.0% | -11.7% | 31.8% | 97.90% |
| 2022 | -9.4% | -45.2% | 123.7% | 7.50% |
| 2021 | 23.7% | 0.0% | 45.6% | 47.66% |
| 2020 | N/A | -50.5% | 46.9% | N/A |
| 2019 | N/A | 2.2% | 40.9% | N/A |
HSMV - Holdings
Concentration Analysis
| HSMV | Category Low | Category High | HSMV % Rank | |
|---|---|---|---|---|
| Net Assets | 23.3 M | 555 K | 167 B | 96.58% |
| Number of Holdings | 151 | 2 | 2445 | 50.57% |
| Net Assets in Top 10 | 3.74 M | 124 K | 10.3 B | 97.34% |
| Weighting of Top 10 | 17.16% | 3.1% | 100.1% | 48.66% |
Top 10 Holdings
- AptarGroup Inc 2.17%
- DT Midstream Inc 1.88%
- SEI Investments Co 1.81%
- CareTrust REIT Inc 1.72%
- Old Republic International Corp 1.68%
- CACI International Inc 1.65%
- Ingredion Inc 1.63%
- Post Holdings Inc 1.62%
- OGE Energy Corp 1.52%
- IDACORP Inc 1.48%
Asset Allocation
| Weighting | Return Low | Return High | HSMV % Rank | |
|---|---|---|---|---|
| Stocks | 99.62% | 4.44% | 105.73% | 15.21% |
| Cash | 0.38% | 0.00% | 27.02% | 89.35% |
| Preferred Stocks | 0.00% | 0.00% | 5.13% | 88.21% |
| Other | 0.00% | -0.07% | 50.79% | 87.07% |
| Convertible Bonds | 0.00% | 0.00% | 3.17% | 88.00% |
| Bonds | 0.00% | 0.00% | 102.81% | 88.21% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | HSMV % Rank | |
|---|---|---|---|---|
| Real Estate | 20.27% | 0.00% | 29.43% | 0.96% |
| Industrials | 19.65% | 2.46% | 37.42% | 25.77% |
| Financial Services | 13.43% | 0.00% | 35.52% | 86.73% |
| Technology | 10.31% | 0.00% | 43.95% | 87.31% |
| Utilities | 9.96% | 0.00% | 18.58% | 0.77% |
| Consumer Cyclical | 7.50% | 0.99% | 47.79% | 89.81% |
| Healthcare | 6.40% | 0.00% | 26.53% | 89.23% |
| Consumer Defense | 6.11% | 0.00% | 18.87% | 11.54% |
| Basic Materials | 4.05% | 0.00% | 18.66% | 66.15% |
| Energy | 1.31% | 0.00% | 37.72% | 88.08% |
| Communication Services | 1.02% | 0.00% | 14.85% | 86.35% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | HSMV % Rank | |
|---|---|---|---|---|
| US | 99.62% | 2.58% | 105.73% | 13.69% |
| Non US | 0.00% | 0.00% | 97.07% | 89.16% |
HSMV - Expenses
Operational Fees
| HSMV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.80% | 0.01% | 38.30% | 73.09% |
| Management Fee | 0.80% | 0.00% | 1.50% | 69.66% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 18.33% |
| Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
| HSMV 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% | 5.00% | N/A |
Trading Fees
| HSMV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| HSMV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 1.00% | 314.00% | 1.48% |
HSMV - Distributions
Dividend Yield Analysis
| HSMV | Category Low | Category High | HSMV % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.72% | 0.00% | 42.47% | 42.02% |
Dividend Distribution Analysis
| HSMV | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
| HSMV | Category Low | Category High | HSMV % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.02% | -2.40% | 2.49% | 12.12% |
Capital Gain Distribution Analysis
| HSMV | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 13, 2024 | $0.246 | OrdinaryDividend |
| Sep 26, 2024 | $0.116 | OrdinaryDividend |
| Jun 27, 2024 | $0.111 | OrdinaryDividend |
| Mar 21, 2024 | $0.040 | OrdinaryDividend |
| Dec 22, 2023 | $0.178 | OrdinaryDividend |
| Sep 22, 2023 | $0.101 | OrdinaryDividend |
| Jun 27, 2023 | $0.097 | OrdinaryDividend |
| Mar 24, 2023 | $0.084 | OrdinaryDividend |
| Dec 23, 2022 | $0.171 | OrdinaryDividend |
| Sep 23, 2022 | $0.123 | OrdinaryDividend |
| Jun 24, 2022 | $0.078 | OrdinaryDividend |
| Mar 25, 2022 | $0.021 | OrdinaryDividend |
| Dec 23, 2021 | $0.148 | OrdinaryDividend |
| Sep 23, 2021 | $0.040 | OrdinaryDividend |
| Jun 24, 2021 | $0.057 | OrdinaryDividend |
| Mar 25, 2021 | $0.020 | OrdinaryDividend |
| Dec 24, 2020 | $0.139 | OrdinaryDividend |
| Sep 24, 2020 | $0.078 | OrdinaryDividend |
| Jun 25, 2020 | $0.008 | OrdinaryDividend |
HSMV - Fund Manager Analysis
Managers
Scott Ladner
Start Date
Tenure
Tenure Rank
Apr 06, 2020
2.15
2.2%
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.
Michael Dickson
Start Date
Tenure
Tenure Rank
Apr 06, 2020
2.15
2.2%
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.
Steven Clark
Start Date
Tenure
Tenure Rank
Apr 06, 2020
2.15
2.2%
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.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 49.61 | 7.17 | 2.58 |
