Stock fact sheet · data as of
First Trust Active Factor Emerging Markets ETF (AFEM): fair value, margin of safety and Wheel Score
Ticker symbol AFEM · Financial Services · Asset Management · United States · Fund / Note
Is AFEM undervalued?
At 91.40 (close of 5 Nov 2026), AFEM trades 149% over the GLS average fair value of 36.65, with 0 of 1 models above the price. The stock earns none of the Wheel Score's Value points at this price. That is a statement about price against trailing fundamentals, not about the company's prospects - the Wall Street View and the Growth tab on the Quote page carry the forward numbers.
The average is built from just 1 models (DDM) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
AFEM looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.
Nine valuation models for AFEM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | - | - | Present value of the projected free cash flows, discounted at the cost of capital; no value tonight |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 36.65 | -60% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -2.50 | -103% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 0.0000 | -100% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
First Trust Active Factor Emerging Markets ETF scores only 1 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. There is no GLS Moat score for AFEM: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.
Returns on capital are high - ROIC 105.5%, ROE 29.2%, ROA -452.9% - with debt at -0.72 times equity and negative free cash flow.
The dividend yield is 2.73% at a payout ratio of 0%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold.
Institutional ownership scores 5/10, insider activity 5/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 1 / 9 | ROIC | 105.5% |
|---|---|---|---|
| GLS Moat | - / 10 | ROE | 29.2% |
| Debt / equity | -0.72 | ROA | -452.9% |
| Free-cash-flow yield | -246.7% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 5 · 5 / 10 |
Wheel Score 8: No options
No options are listed on First Trust Active Factor Emerging Markets ETF in our nightly snapshot, so it fails the first Wheel Trade Filter (options that actually trade) (it reads 8, under 70) and is left out of every options scan; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 3k shares a day on a market cap of $78M, with a beta of 0.73 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Fails | a fund or note, not a company |
| 3 | Below fair value | Fails | trades 149% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 1/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $78M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 149% above fair value | |
| Premium | Weak | no option data | |
| Moat | Weak | no moat score | |
| Health | Weak | Piotroski 1/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Fair | beta 0.73, $78M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for AFEM in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to First Trust Active Factor Emerging Markets ETF by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| VGI Virtus Global Multi-Sector Income Fund | 6.88 | 25.07 | +73% | 28No options | $78M |
| UNOV Innovator U.S. Equity Ultra Buffer ETF | 41.92 | 0.1397 | -29910% | 14No options | $78M |
| SWZ Total Return Securities Fund | 5.89 | 10.38 | +43% | 25No options | $76M |
| PFXNZ PhenixFIN Corporation 5.25% Notes due 2028 | 24.44 | 63.16 | +61% | 24No options | $80M |
| BCIC BCP Investment Corporation | 6.03 | 38.60 | +84% | 38Weak | $75M |
| WMKMX WesMark West Virginia Municipal Bond Fund | 9.62 | 5.28 | -82% | 11No options | $81M |
| PFX PhenixFIN Corporation | 42.18 | 85.48 | +51% | 33No options | $81M |
| FMN Federated Hermes Premier Municipal Income Fund | 10.54 | 18.91 | +44% | 24No options | $82M |
| FHLKX Fidelity Health Savings Fund Class K | 11.47 | 1,192.16 | +99% | 30No options | $73M |
| HNNA Hennessy Advisors, Inc. | 10.53 | 17.10 | +38% | 35No options | $83M |
| PCL PGIM ETF Trust - PGIM Corporate Bond 10+ Year ETF | 46.56 | 23.11 | -101% | 14No options | $72M |
| GLV Clough Global Dividend and Income Fund | 5.80 | 45.39 | +87% | 24No options | $72M |
⚖ Compare AFEM with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about AFEM
Is AFEM undervalued right now?
No: at 91.40 the stock trades 149% above the GLS average fair value of 36.65 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of AFEM and what does it mean?
AFEM has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for AFEM?
36.65 per share as of 5 Nov 2026 - the simple average of the 1 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does First Trust Active Factor Emerging Markets ETF report earnings next?
No upcoming earnings date is recorded for AFEM in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does AFEM have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on AFEM, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.