FVI Fund Description

The First Trust Value Line Equity Allocation Fund tracks an index of stocks with the highest expected capital appreciation based on multiple factors according to the Value Line Ranking System.

FVI ETF.com Insight

FVI does not aim to provide investors with neutral exposure to the US equity market, attempting instead to pick stocks that have the greatest potential for capital appreciation. ThisFVI has the segment's highest expense ratio and is extremely difficult to trade methodology, which separates companies into the six different style box categories, produces a dramatically different portfolio than the market. FVI tilts drastically smaller than our benchmark while heavily overweighting technology and utilities at the expense of consumer non-cyclicals and energy. Making matters worse, FVI carries the highest expense ratio in the segment and is extremely difficult to trade, making all-in costs high. The fund's proprietary index methodology may very well create excess returns in the future, but over the past year it has failed to do so. (Insight updated 08/18/2014)

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Performance [as of 11/20/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
FVI 6.65% -2.02% 3.04% 6.52% 14.75% 10.29% --
FVI (NAV) 6.67% -1.73% 2.99% 7.14% 15.80% 11.47% --
Value Line Equity Allocation Index 6.81% -1.51% 3.83% 8.09% -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FVI Top 10 Countries

FVI Top 10 Sectors

FVI Top 10 Holdings View All

FVI Summary Data

First Trust

A company that produces and manages ETFs.

12/05/06

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.70%

The net total annual fee a fund holder pays to the issuer.

$5.28 M

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$81.35 K

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.37%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

FVI Portfolio Data

$49.83 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

17.57

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

1.89

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

0.99%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

12/23/14

The date on which a security's price excludes an upcoming dividend.

150

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

FVI Index Data

Value Line Equity
Allocation Index

This is the benchmark an ETF is desigend to track or replicate.

Proprietary

A set of rules that the underlying index provider follows to weight its constituent securities.

Proprietary

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI USA Investable Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to FVI

VTI, DTN, SCHB, VTHR

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

FVI ETF.com Efficiency Insight

FVI's segment-high 70 basis point expense ratio undermines its efficiency score. It has struggled to meet even this high hurdle, lagging its index by around a full percentage point on a median 1-year basis the past two years with high relative volatility. Unfortunately, the fund may continue to post worst-in-class Efficiency scores, burdened by high fees and a low asset base. (Insight updated 08/18/2014)

Total Return - 11/20/2014
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
Performance [as of 11/20/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years
FVI 6.65% -2.02% 3.04% 6.52% 14.75% 10.29% --
FVI (NAV) 6.67% -1.73% 2.99% 7.14% 15.80% 11.47% --
Value Line Equity Allocation Index 6.81% -1.51% 3.83% 8.09% -- -- --
MSCI USA Investable Markets 7.82% 3.13% 11.23% 15.97% 20.86% 15.58% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

FVI Portfolio Management

0.70%

The net annual fee a fund holder pays to the issuer.

-0.95%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

-0.81%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-1.15%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

FVI Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

FVI Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

No

An indicator of whether or not a fund actively lends its portfolio holdings.

100% / 0%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

High

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

FVI ETF.com Tradability Insight

Retail investors will have an extremely difficult time trading FVI. Spreads are wide on meager daily trading volume. Use limit orders to avoid even wider spreads. Be sure to check iNAV prior to setting your orders. Institutions trading in large blocks can do much better using a market maker since underlying liquidity is strong. (Insight updated 08/18/2014)



Average Spread
Premium/Discount
Volume

FVI ETF.com/ Block LiquidityAs of 11/21/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of FVI. FVI is rated a 4 out of 5.

FVI Tradability

3,172

It is the daily number of shares traded, averaged over the past 45 trading days.

$81.35 K

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

429

Median number of shares traded over the past 45 trading days.

$10.97 K

Median dollar value of shares traded over the past 45 trading days.

0.37%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.10

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

0.00%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

3.46% / -2.38%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

0.01

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.04%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.02%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

--

The total number of net outstanding options contracts for an ETF.

$26.38

The total market value of the assets that an ETF holds less fund expenses.

4

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

FVI ETF.com Fit Insight

FVI doesn't aim for neutral total market exposure. Instead, the fund tries to choose the stocks best positioned for capital appreciation, which creates a vast wedge between the makeup of its portfolio and that of the market. By sector, FVI overweights technology while underweighting energy. Unfortunately, this strategy hasn't worked lately: FVI has failed to generate alpha over the past year. (Insight updated 08/18/2014)

FVI Sector/Industry BreakdownView All

FVI Segment Benchmark
13.58% 20.03%

16.93% 18.13%

17.53% 17.99%

8.44% 13.17%

13.49% 10.75%

2.98% 4.70%

12.64% 4.46%

3.29% 0.74%

FVI Geographic ExposureView All

FVI Segment Benchmark
99.69% 89.29%

-- 3.57%

0.02% 1.90%

-- 1.39%

-- 1.26%

-- 0.83%

-- 0.44%

0.10% --

0.19% 0%

FVI Segment Benchmark
99.71% 91.18%

0.10% 6.29%

0.02% 2.53%

0.16% --

99.98% / 0.02% 96.08% / 3.92%

FVI Performance Statistics

0.95

The degree to which the fund and its segment benchmark move up and down in unison.

1.07

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

-8.59%

The excess return of fund relative to ETF.com segment benchmark on a risk adjusted basis. Only reported if statistically significant.

0.99

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.07

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.20%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI USA Investable Markets

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

FVI Benchmark Comparison

FVI
150 Holdings
Segment Benchmark
2470 Constituents
Shared Holdings
136 (Count)
 
12.47% (Weight)
FVISegment Benchmark
$107.11 B$49.83 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

76%52%
18%32%
5%16%
1%0%
21.1517.57

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.731.89

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.78%1.80%

The weighted average of the current yield on the portfolio’s holdings.

2470150

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowLow

The level of return contribution attributable to the average portfolio constituent.