What Is the IFV ETF? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The First Trust Dorsey Wright International Focus 5 ETF (IFV) is a momentum-based global equity ETF that uses a relative strength methodology to select and hold five non-US international ETFs. Its trend-following strategy, quarterly dividends, and expense ratio are the key factors in choosing it.
SubscribeWhat Is the First Trust Dorsey Wright International Focus 5 ETF?
This global equity ETF tracks the Dorsey Wright International Focus Five Index. It is a fund-of-funds that selects and concentrates its holdings in the five non-US country and regional ETFs with the strongest relative strength.
It suits investors who want to diversify across non-US markets using a momentum (trend-following) approach.
It is a passively managed (index-tracking) ETF run by First Trust.
How Does the First Trust Dorsey Wright International Focus 5 ETF Invest?
| Item | Details |
|---|---|
| Tracked index | Dorsey Wright International Focus Five Index |
| Management style | Rules-based (tracks a relative strength index) |
| Rebalancing frequency | Periodic (relative strength reassessed) |
| Dividend frequency | Quarterly |
| Issuer | First Trust |
| Total expense ratio | 1.14% |
From the universe of non-US country and regional ETFs managed by First Trust, the fund uses Dorsey Wright's relative strength methodology to select and hold the five with the strongest trends. ETFs whose relative strength has weakened are replaced, so the portfolio is periodically reshuffled in line with trends under a rules-based strategy.
- Momentum selection based on relative strength
- Fund-of-funds international diversification
First Trust Dorsey Wright International Focus 5 ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) are $209.2M, and the total expense ratio is 1.14% per year.
Unlike broad international ETFs that simply track a single index, this fund is distinguished by holdings that change with trend strength.
First Trust Dorsey Wright International Focus 5 ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeBecause of its trend-following nature, the fund's holdings tilt toward regions and sectors with sustained strength, and volatility can appear when holdings are swapped during shifts in market regime. Recent performance is influenced by changes in global risk appetite.
Fund flows vary with risk appetite toward non-US markets and the strength or weakness of the dollar, and interest tends to grow when demand for global diversification rises. As a momentum strategy, it reacts sensitively to market trends.
First Trust Dorsey Wright International Focus 5 ETF Pros and Cons
Its strength is a rules-based momentum approach that concentrates on strong regions, while its weaknesses are a structure concentrated in five ETFs and the risk of trend reversals.
💪 Key Strengths
⚠️ Points to Watch
First Trust Dorsey Wright International Focus 5 ETF Alternative ETFs and Related Products
Global sector ETFs such as IXN, IXJ, and IXC appear in the comparison table within the same global diversification category, but they differ in that they are broad ETFs concentrated in a single sector. If you want broad non-US core exposure through simple index tracking, low-cost international ETFs such as VXUS and IEFA can serve as direct substitutes, and if you want a higher weighting in emerging markets, you can also consider IEMG.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 IXN | iShares Global Tech ETF | $131.48 | -2.4% | $8.9B | 0.37% | 0.26% | +19.8% |
 IXJ | iShares Global Healthcare ETF | $112.57 | -0.1% | $4.6B | 0.38% | 1.28% | +23.5% |
 IXC | iShares Global Energy ETF | $61.78 | -3.8% | $3.5B | 0.37% | 2.54% | +48.1% |
 EUFN | iShares MSCI Europe Financials ETF | $38.04 | +0.9% | $2.9B | 0.48% | 4.35% | +12.4% |
 PICK | iShares MSCI Global Metals & Mining Producers ETF | $55.46 | +1.2% | $2.2B | 0.39% | 2.38% | +19.1% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 FCA | First Trust China AlphaDEX Fund | 0.22% | $23.79 | +0.2% | $0.0M | - | 5.98% |
 AFGR | First Trust Active Factor Large Cap Growth ETF | 0.40% | $35.24 | -1.2% | $0.0M | - | 0.01% |
 FGM | First Trust Germany AlphaDEX Fund | 0.39% | $58.29 | +1.3% | $0.0M | - | 1.84% |
 FEP | First Trust Europe AlphaDEX Fund | 0.40% | $56.95 | +0.8% | $0.0M | - | 3.06% |
 FEUZ | First Trust Eurozone AlphaDEX ETF | 0.39% | $63.60 | +0.7% | $0.0M | - | 3.14% |
 FKU | First Trust United Kingdom AlphaDEX Fund | 0.20% | $55.54 | +1.8% | $0.0M | - | 3.73% |
First Trust Dorsey Wright International Focus 5 ETF Investor Checkpoints
Here are the points to review before investing in IFV. Because it is a momentum-based fund-of-funds, it is wise to check in advance the holding volatility that comes with trends, the cost burden, and the concentration in five ETFs. It is a strategy product with a different character from simple core exposure.
| Checkpoint | What to check | Current status |
|---|---|---|
| 💵 Expense ratio | Check the cost burden of the fund-of-funds structure | Annual fee applies |
| 🔄 Trend strategy | Understand relative strength based holding swaps | Rules-based management |
| 📊 Concentration | Check the five-ETF concentrated structure | Concentrated holdings |
| 💱 Currency | Impact of dollar and local currency fluctuations | No currency hedge applied |
Momentum strategies can suffer larger losses at turning points when a trend breaks, because holding swaps come late. With a structure concentrated in five ETFs, volatility can increase when a particular region underperforms.
This is an ETF worth considering for investors who want trend-following international diversification. If the goal is simple, low-cost core exposure, broad international ETFs such as VXUS and IEFA may be more suitable.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 18, 2026.
Today's 5 AI picks, all free