AdvisorShares Dorsey Wright ADR ETF
ALTAR
Score™		 3.1% info Recommen-
dation		 AVOID
2020E    2021E
P/E
ratio		 22.0x P/Sales
ratio		 2.4x
P/BV
ratio		 4.6x Div.
yield		 1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
AADR is an actively managed ETF that seeks 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 20, 2010
Assets (mns) $76
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 35
Wgt avg mkt cap (mns) $66,716
Large cap (>$10bn) 74.1%
Mid cap ($2-10bn) 25.9%
Small cap (<$2bn) 0.0%
Developed mkts 61.9%
Emerging mkts 38.1%

TOP TEN HOLDINGS
MERCADOLIBRE INC 5.9 %
ARGENX SE ADR 5.7 %
NICE SYSTEMS LTD-SPONS ADR 5.5 %
GOLD FIELDS LTD-SPONS ADR 5.1 %
GALAPAGOS NV SPONSORED ADR 4.8 %
ANGLOGOLD ASHANTI-SPON ADR 4.7 %
ZTO EXPRESS (CAYMAN) INC. SPONSORE 4.3 %
TAL EDUCATION GROUP UNSPONSORED AD 3.8 %
ASML HOLDING NV-NY REG SHS 3.7 %
ASTRAZENECA PLC-SPONS ADR 3.1 %
Total 46.5 %

TOP COUNTRY EXPOSURE
CHINA 17.6 %
NETHERLANDS 13.0 %
SOUTH AFRICA 12.0 %
BRITAIN 7.0 %
SWITZERLAND 7.0 %
ARGENTINA 5.9 %
ISRAEL 5.4 %
IRELAND 5.3 %
BELGIUM 4.8 %
FRANCE 2.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-1.7% 6.5% 7.2% -- 8.4%

Market Correlations
versus... Beta R-squared
S&P500 1.12 67%
MSCI EAFE 1.29 77%
MSCI Emg. Mkts. 0.99 71%

Technical Indicators
Recent close $53.38
30d moving avg. $50.58
Annualized volatility 23.3%
Short interest (ETF) 0.1%
Short interest (Underlying) 1.5%
Relative strength (RSI) 65

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.4%
Bid/Ask (% of price) 0.53%
ADV underlying (mns) $10,788

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the AdvisorShares Dorsey Wright ADR ETF 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
(%)
PGJ Invesco Golden Dragon China ETF 13.2 70 40 3.3 +0.2
KEMQ Kraneshares Emerging Markets Consumer Technology Index ETF 12.0 80 30 4.1 +1.0
AIIQ AI Powered International Equity ETF 10.8 79 31 4.7 +1.6
ADRE Invesco BLDRS Emerging Markets 50 ADR Index Fund 9.8 18 92 6.0 +2.9
FNI First Trust Chindia ETF 9.6 60 50 3.0 -0.2
CHIQ Global X China Consumer ETF 8.3 65 45 8.1 +5.0
ARKF ARK Fintech Innovation ETF 7.9 75 35 0.5 -2.6
PPH VanEck Vectors Pharmaceutical ETF 7.8 36 74 10.2 +7.1
GDXJ VanEck Vectors Junior Gold Miners ETF 7.5 53 57 2.8 -0.4
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 7.3 86 24 2.3 -0.8
EBIZ Global X E-Commerce ETF 7.3 50 60 2.8 -0.4
GDX VanEck Vectors Gold Miners ETF 7.1 52 58 2.9 -0.3
KWEB KraneShares CSI China Internet ETF 6.7 76 34 1.9 -1.2
TTTN UP Fintech China-U.S. Internet Titans ETF 6.4 59 51 4.4 +1.2
CNCR Loncar Cancer Immunotherapy ETF 6.2 79 31 -2.9 -6.0
ARGT Global X MSCI Argentina ETF 5.9 60 50 5.4 +2.3
AGT iShares MSCI Argentina & Global Exposure ETF A 5.9 59 51 5.4 +2.3
PIE Invesco DWA Emerging Markets Momentum ETF 5.6 90 20 5.5 +2.4
TTAI TrimTabs All Cap International Free-Cash-Flow ETF 5.6 61 49 5.1 +1.9
SMH VanEck Vectors Semiconductor ETF 5.6 35 75 5.6 +2.5
SOXX iShares PHLX Semiconductor ETF 5.5 46 64 5.5 +2.3
CHIL Global X MSCI China Large-Cap 50 ETF 5.1 29 81 8.7 +5.6
ECON Columbia Emerging Markets Consumer ETF 5.0 59 51 4.7 +1.6
ACT AdvisorShares Vice ETF 5.0 99 11 5.6 +2.4
GIGE SoFi Gig Economy ETF 4.8 59 51 -0.5 -3.6
PID Invesco International Dividend Achievers ETF 4.8 54 56 9.8 +6.7
XNTK SPDR NYSE Technology ETF 4.8 35 75 3.7 +0.6
XBUY Amplify International Online Retail ETF 4.7 69 41 -1.0 -4.2
EMCG WisdomTree Emerging Markets Consumer Growth Fund 4.7 32 78 7.5 +4.4
CXSE WisdomTree China ex-State-Owned Enterprises Fund 4.7 32 78 6.5 +3.4
GBUY Goldman Sachs Motif New Age Consumer ETF 4.6 50 60 1.9 -1.2
ONLN ProShares Online Retail ETF 4.6 58 52 1.5 -1.7
AVDE Avantis International Equity ETF 4.6 23 87 8.1 +4.9
GOAU U.S. Global GO GOLD & Precious Metal Miners ETF 4.5 60 50 2.5 -0.6
BUYZ Franklin Disruptive Commerce ETF 4.5 50 60 -0.2 -3.3
SGDM Sprott Gold Miners ETF 4.4 50 60 2.8 -0.3
QTEC First Trust NASDAQ-100 Technology Sector Index Fund 4.3 57 53 5.0 +1.9
CHII Global X China Industrials ETF 4.3 66 44 12.7 +9.5
ARKW ARK Web x.0 ETF 4.2 76 34 -0.8 -4.0
DINT Davis Select International ETF 4.1 68 42 6.0 +2.9
GDAT Goldman Sachs Motif Data-Driven World Etf 3.8 50 60 5.0 +1.9
BICK First Trust BICK Index Fund 3.8 64 46 5.0 +1.8
EEMO Invesco S&P Emerging Markets Momentum ETF 3.8 29 81 7.0 +3.8
FDEM Fidelity Targeted Emerging Markets Factor ETF 3.3 45 65 9.9 +6.7
AFK VanEck Vectors Africa Index ETF 3.2 79 31 8.9 +5.8
TDIV First Trust NASDAQ Technology Dividend Index Fund 3.1 50 60 5.9 +2.8
PNQI Invesco NASDAQ Internet ETF 3.0 62 48 1.1 -2.0
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund 3.0 59 51 4.2 +1.1
QQQE Direxion NASDAQ-100 Equal Weighted Index Shares 3.0 35 75 4.5 +1.3
BLCN Reality Shares Nasdaq NextGen Economy ETF 3.0 68 42 4.2 +1.1
ARKQ Ark Industrial Innovation ETF 2.9 75 35 0.7 -2.4
THNQ ROBO Global Artificial Intelligence ETF 2.9 68 42 1.9 -1.2
DTEC ALPS Disruptive Technologies ETF 2.9 50 60 3.6 +0.4
AVEM Avantis Emerging Markets Equity ETF 2.9 33 77 9.4 +6.3
MCHI iShares MSCI China ETF 2.8 59 51 8.3 +5.2
FLCH Franklin FTSE China ETF 2.8 19 91 8.8 +5.6
IBUY Amplify Online Retail ETF 2.7 65 45 -1.5 -4.7
XHB SPDR S&P Homebuilders ETF 2.7 35 75 7.9 +4.8
GXC SPDR S&P China ETF 2.7 59 51 8.6 +5.5
EIRL iShares MSCI Ireland Capped ETF 2.7 49 61 7.4 +4.2
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF 2.7 65 45 3.9 +0.7
IZRL ARK Israel Innovative Technology ETF 2.6 49 61 0.4 -2.7
IQM Franklin Intelligent Machines ETF 2.6 50 60 2.1 -1.0
YLDE ClearBridge Dividend Strategy ESG ETF 2.5 60 50 5.0 +1.9
SRVR Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF 2.5 60 50 2.5 -0.7
KALL KraneShares FTSE Emerging Markets Plus ETF 2.5 49 61 8.8 +5.6
DWLD Davis Select Worldwide ETF 2.5 63 47 6.7 +3.6
DUSA Davis Select U.S. Equity ETF 2.5 63 47 5.8 +2.7
ROAM Hartford Multifactor Emerging Markets ETF 2.4 44 66 15.3 +12.1
FSZ First Trust Switzerland AlphaDEX Fund 2.4 80 30 6.3 +3.1
OSCV Opus Small Cap Value Plus ETF 2.4 79 31 5.6 +2.4
NERD Roundhill BITKRAFT Esports & Digital Entertainment ETF 2.4 25 85 2.0 -1.2
PEK VanEck Vectors ChinaAMC CSI 300 ETF 2.3 60 50 7.7 +4.6
GENY Principal Millennials Index ETF 2.2 45 65 3.8 +0.7
BKF iShares MSCI BRIC ETF 2.2 69 41 8.0 +4.8
PLAT WisdomTree Modern Tech Platforms Fund 2.2 45 65 1.2 -2.0
KOMP SPDR Kensho New Economies Composite ETF 2.1 20 90 2.6 -0.5
WWJD Inspire International ESG ETF 2.1 80 30 7.7 +4.5
NXTG First Trust Indxx NextG ETF 2.0 70 40 6.3 +3.2
JKH iShares Morningstar Mid-Cap Growth ETF 2.0 30 80 2.3 -0.9
ERUS iShares MSCI Russia ETF 2.0 59 51 16.2 +13.1
RSX VanEck Vectors Russia ETF 2.0 67 43 13.3 +10.2
EDOG ALPS Emerging Sector Dividend Dogs ETF 2.0 60 50 11.1 +8.0
FPXI First Trust International Equity Opportunities ETF 2.0 70 40 3.4 +0.2
CN Xtrackers MSCI All China Equity ETF 1.9 50 60 8.6 +5.4
RFEU First Trust Riverfront Dynamic Europe ETF 1.9 83 27 5.5 +2.3
IFLY ETFMG Drone Economy Strategy ETF 1.9 68 42 2.0 -1.2
EEMD AAM S&P Emerging Markets High Dividend Value ETF 1.9 50 60 21.3 +18.1
SIMS SPDR S&P Kensho Intelligent Structures ETF 1.9 45 65 6.0 +2.9
TTFS AdvisorShares Wilshire Buyback ETF 1.9 91 19 6.2 +3.1
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 1.9 48 62 5.8 +2.7
SDEM Global X SuperDividend Emerging Markets ETF 1.9 66 44 16.4 +13.2
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.9 49 61 9.0 +5.9
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 1.9 70 40 8.1 +5.0
MOTO SmartETFs Smart Transportation & Technology ETF 1.9 68 42 8.0 +4.9
IDRV iShares Self-driving EV & Tech ETF 1.9 47 63 7.3 +4.2
FIVG Defiance Next Gen Connectivity ETF 1.9 30 80 4.9 +1.8
SNSR Global X Internet of Things Thematic ETF 1.9 68 42 4.6 +1.5
KLDW Gavekal Knowledge Leaders Developed World ETF 1.9 75 35 5.4 +2.3
ECLN First Trust EIP Carbon Impact ETF 1.9 96 14 3.9 +0.7

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

  2015 2016 2017 2018 2019 2020E 2021E
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
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 AdvisorShares Dorsey Wright ADR ETF
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 17.7 %
Divided by: Fwd. P/BV 4.2 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		 1.47 CATEGORY
AVERAGE		 1.59
 
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.