WCM/BNY Mellon Focused Growth
ALTAR
Score™
3.1% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
21.3x P/Sales
ratio
1.8x
P/BV
ratio
3.1x Div.
yield
1.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
WCM / BNY Mellon Focused Growth ADR ETF is an actively managed exchange-traded fund incorporated in the USA. The Fund's objective is long-term capital appreciation above international benchmarks such as the BNY Mellon Classic ADR Index and the MSCI EAFE Index. The fund invests in a concentrated, high-quality, large-cap growth portfolio for the non-U.S. universe.

FUND BASICS
Category International Equities
Fund Sponsor AdvisorShares Trust
Website
Inception date Jul 21, 2010
Assets (mns) $105
Currency USD
Expense ratio 110 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Proprietary
Index replication n/a
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 38
Wgt avg mkt cap (mns) $50,770
Large cap (>$10bn) 59.6%
Mid cap ($2-10bn) 37.9%
Small cap (<$2bn) 2.5%
Developed mkts 61.6%
Emerging mkts 38.4%

TOP TEN HOLDINGS
GALAPAGOS NV SPONSORED ADR 5.1 %
NICE SYSTEMS LTD-SPONS ADR 4.8 %
ARGENX SE ADR 3.7 %
AIRBUS GROUP NV - UNSP ADR 3.6 %
MERCADOLIBRE INC 3.5 %
ALLEGION PLC 3.4 %
LVMH MOET HENNESSY-UNSP ADR 3.3 %
COSAN LTD-CLASS A SHARES 3.3 %
ANGLOGOLD ASHANTI-SPON ADR 3.3 %
GOLD FIELDS LTD-SPONS ADR 2.9 %
Total 36.9 %

TOP COUNTRY EXPOSURE
NETHERLANDS 14.3 %
IRELAND 13.9 %
BRAZIL 10.0 %
SOUTH AFRICA 8.5 %
CHINA 8.0 %
BRITAIN 7.7 %
INDIA 6.9 %
BELGIUM 5.3 %
SWITZERLAND 5.2 %
ISRAEL 4.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
27.3% 15.4% 6.5% -- 8.5%

Market Correlations
versus... Beta R-squared
S&P500 0.96 42%
MSCI EAFE 1.22 56%
MSCI Emg. Mkts. 0.95 54%

Technical Indicators
Recent close $51.38
30d moving avg. $50.26
Annualized volatility 18.0%
Short interest (ETF) 0.1%
Short interest (Underlying) 1.5%
Relative strength (RSI) 73

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.4%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $2,395

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the WCM/BNY Mellon Focused Growth ETF based on the alternatives' overlap in portfolio holdings with AADR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AADR Expense: 110 bp ALTAR Score™: 3.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AADR
Ticker Fund
Name
Overlap1
vs AADR
(%)
Expense
ratio
(bp)
Savings
vs AADR
(bp)
ALTAR
Score™
(%)
ALTAR
vs AADR
(%)
ADRU BLDRs Europe 100 ADR 15.2 30 80 8.1 +5.0
ADRD BLDRs Developed Markets 100 ADR 14.6 30 80 9.0 +5.9
FNI First Trust ISE Chindia 12.4 59 51 4.0 +0.9
EEB Invesco BRIC 12.4 64 46 6.6 +3.6
ADRE BLDRs Emerging Markets 50 ADR 9.3 30 80 6.4 +3.3
BICK First Trust BICK Index Fund 9.3 64 46 5.6 +2.5
KEMQ KraneShares EM Consumer Focus 8.5 80 30 7.8 +4.7
XCEM Columbia EM Core ex-China 8.4 16 94 7.6 +4.5
PGJ Invesco Golden Dragon China 7.9 70 40 3.7 +0.7
ACT AdvisorShares Vice 7.6 99 11 7.9 +4.9
AIIQ AI Powered International Equity 7.3 79 31 4.6 +1.5
CNCR Loncar Cancer Immunotherapy 6.5 79 31 -3.5 -6.5
ADRA BLDRs Asia 50 ADR 6.3 30 80 9.2 +6.1
GDX VanEck Vectors Gold Miners ETF 5.7 52 58 2.4 -0.7
ECOW Pacer Emerging Markets Cash Cows 100 5.5 70 40 10.9 +7.8
PIE Invesco DWA Emg. Mkts. Technical Leaders 5.3 90 20 5.2 +2.1
PID Invesco International Dividend Achievers 5.2 54 56 7.4 +4.3
PPH VanEck Vectors Pharmaceuticals 5.1 36 74 9.4 +6.4
GDXJ VanEck Vectors Jr. Gold Miners 5.1 53 57 2.4 -0.7
CHIQ Global X MSCI China Consumer Discretionary 5.1 65 45 5.3 +2.2

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
WCM/BNY Mellon Focused Growth
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.8 %
Divided by: Fwd. P/BV 2.8 x
Less: Expense ratio 110 bp
Equals: ALTAR Score 3.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.41 CATEGORY
AVERAGE
1.63
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.