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First Trust Long/Short Equity ETF (FTLS)
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Upturn Advisory Summary
04/22/2025: FTLS (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit 9.86% | Avg. Invested days 55 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 04/22/2025 |
Key Highlights
Volume (30-day avg) 166600 | Beta 0.5 | 52 Weeks Range 58.11 - 69.78 | Updated Date 04/23/2025 |
52 Weeks Range 58.11 - 69.78 | Updated Date 04/23/2025 |
Upturn AI SWOT
First Trust Long/Short Equity ETF
ETF Overview
Overview
The First Trust Long/Short Equity ETF (FTLS) employs a market-neutral strategy, aiming for absolute returns by combining long positions in undervalued stocks with short positions in overvalued stocks. It aims for capital appreciation regardless of market direction, focusing on risk-adjusted returns.
Reputation and Reliability
First Trust is a well-established ETF provider with a history of offering innovative investment solutions. They are known for their smart beta and actively managed ETFs.
Management Expertise
First Trust has a dedicated team of portfolio managers and analysts with experience in quantitative strategies and long/short investing.
Investment Objective
Goal
To generate capital appreciation by investing in a combination of long and short equity positions.
Investment Approach and Strategy
Strategy: The ETF utilizes a fundamental, bottom-up stock selection process to identify attractive long and short opportunities. It does not track a specific index.
Composition The ETF primarily holds U.S. equities, employing a roughly market-neutral approach (equal long and short exposures).
Market Position
Market Share: Limited as the long/short equity ETF category is niche.
Total Net Assets (AUM): 158000000
Competitors
Key Competitors
- AGFiQ US Market Neutral Anti-Beta ETF (BTAL)
- ProShares RAFI Long/Short ETF (RALS)
- Long-Short Opportunity ETF (LSON)
Competitive Landscape
The competitive landscape is fragmented, with several smaller ETFs offering similar long/short strategies. FTLS differentiates itself through its fundamental, bottom-up stock selection process. Compared to peers, FTLS might have higher expense ratios, while its performance depends heavily on stock-picking skills. Disadvantage includes that it doesn't have a large market share compared to BTAL.
Financial Performance
Historical Performance: Historical performance data should be sourced from financial data providers.
Benchmark Comparison: The ETF is not designed to track a benchmark index but is typically compared against a broad market index for overall market context.
Expense Ratio: 0.0091
Liquidity
Average Trading Volume
The average daily trading volume for FTLS is moderate, influencing ease of entry and exit.
Bid-Ask Spread
The bid-ask spread of FTLS can vary depending on market conditions and trading volume.
Market Dynamics
Market Environment Factors
Factors such as interest rate changes, economic growth, and sector-specific trends can influence the performance of long/short strategies.
Growth Trajectory
The growth trajectory of FTLS depends on investor demand for market-neutral strategies and its ability to generate positive alpha.
Moat and Competitive Advantages
Competitive Edge
FTLS benefits from First Trust's established brand and distribution network. Its fundamental stock selection process, focusing on identifying undervalued and overvalued companies, is a potential advantage. The market-neutral approach allows it to perform independent of broad market direction, potentially attracting investors seeking diversification. However, the strategy's success heavily depends on the skill of the portfolio management team and is relatively concentrated for a market neutral fund.
Risk Analysis
Volatility
The ETF's volatility should be lower than a traditional long-only equity fund due to its hedging strategy.
Market Risk
While designed to be market-neutral, the ETF is still subject to stock-specific risk and the risk that its short positions may increase in value.
Investor Profile
Ideal Investor Profile
The ideal investor is seeking a diversified strategy that is not heavily correlated to the broad market. They are looking for moderate, stable returns.
Market Risk
FTLS is suitable for investors who want a market-neutral exposure and a fund whose returns are not dependent on the broad market and are suitable for long-term investors.
Summary
The First Trust Long/Short Equity ETF (FTLS) offers a market-neutral approach to equity investing, combining long and short positions. It targets capital appreciation with less market sensitivity, appealing to investors seeking diversification. The fund's performance depends on stock selection skills and market conditions. While it has a higher expense ratio, it might attract investors looking for low correlation to broader markets, while still having potential downside risk.
Similar Companies
BTAL
AGFiQ U.S. Market Neutral Anti-Beta Fund
BTAL
AGFiQ U.S. Market Neutral Anti-Beta Fund
Sources and Disclaimers
Data Sources:
- First Trust Website
- ETF.com
- Morningstar
- Bloomberg
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered financial advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About First Trust Long/Short Equity ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
Under normal conditions, the fund will expose at least 80% of its net assets (including investment borrowings) to U.S. exchange-listed equity securities and/or U.S. exchange-traded funds (ETFs) that provide exposure to U.S. exchange-listed equity securities. It pursues its investment objective by establishing long and short positions in its portfolio of U.S. exchange-listed equity securities and ETFs. The fund may invest up to 20% of its net assets (including investment borrowings) in U.S. exchange-listed equity index futures contracts.
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