American Customer Satisfaction Core Alpha
ALTAR
Score™
7.7% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
16.9x P/Sales
ratio
1.3x
P/BV
ratio
2.5x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The American Customer Satisfaction Core Alpha ETF tracks an index of US-listed large-cap companies, weighted toward those with high customer satisfaction scores from surveys.

FUND BASICS
Category US Equities
Fund Sponsor ACSI Funds
Website acsietf.com
Inception date Nov 01, 2016
Assets (mns) $59
Currency USD
Expense ratio 66 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 90
Wgt avg mkt cap (mns) $153,961
Large cap (>$10bn) 78.2%
Mid cap ($2-10bn) 20.5%
Small cap (<$2bn) 1.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
APPLE INC 4.7 %
SCHWAB (CHARLES) CORP 3.8 %
NETFLIX INC 3.6 %
AMAZON.COM INC 2.9 %
HP INC. 2.8 %
ALASKA AIR GROUP INC 2.5 %
CENTERPOINT ENERGY INC 2.3 %
CITIGROUP INC 2.3 %
FEDEX CORP 2.3 %
UNITED PARCEL SERVICE-CL B 2.2 %
Total 29.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.7 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
19.3% 7.9% -- -- 10.4%

Market Correlations
versus... Beta R-squared
S&P500 0.94 91%
MSCI EAFE 0.81 56%
MSCI Emg. Mkts. 0.53 39%

Technical Indicators
Recent close $34.92
30d moving avg. $34.32
Annualized volatility 12.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 2
Turnover 0.1%
Bid/Ask (% of price) 0.09%
ADV underlying (mns) $34,666

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the American Customer Satisfaction Core Alpha ETF based on the alternatives' overlap in portfolio holdings with ACSI. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ACSI Expense: 66 bp ALTAR Score™: 7.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ACSI
Ticker Fund
Name
Overlap1
vs ACSI
(%)
Expense
ratio
(bp)
Savings
vs ACSI
(bp)
ALTAR
Score™
(%)
ALTAR
vs ACSI
(%)
BVAL Brand Value ETF 26.1 65 1 7.3 -0.5
ESG FlexShares STOXX US ESG Impact Index Fund 26.0 32 34 5.4 -2.3
SPXV ProShares S&P 500 Ex-Health Care 24.8 27 39 5.6 -2.1
JUST Goldman Sachs JUST U.S. Large Cap Equity 24.6 20 46 5.6 -2.1
SNPE Xtrackers S&P 500 ESG 24.5 11 55 5.8 -2.0
MGC Vanguard Mega Cap 300 ETF 23.7 7 59 5.8 -1.9
IWL iShares Russell Top 200 23.6 15 51 5.7 -2.1
SPXE ProShares S&P 500 Ex-Energy 23.3 27 39 5.9 -1.9
PBP Invesco S&P 500 Buy/Write 23.3 49 17 5.6 -2.2
OEF iShares S&P 100 23.2 20 46 5.5 -2.3
PRID InsightShares LGBT Employment Equality 23.2 65 1 5.4 -2.3
SPYX SPDR S&P 500 Fossil Fuel Reserves Free 23.2 20 46 5.9 -1.8
WOMN Impact Shares YWCA Women's Empowerment 23.0 75 -9 5.4 -2.3
HSPX Global X S&P 500 Covered Call 22.5 65 1 5.4 -2.3
SPY S&P 500 SPDR 22.4 9 57 5.9 -1.9
SPXN ProShares S&P 500 Ex-Financials 22.4 27 39 5.9 -1.9
IVV iShares Core S&P 500 22.4 4 62 5.9 -1.8
VOO Vanguard S&P 500 ETF 22.4 3 63 6.0 -1.8
ESGU iShares MSCI USA ESG Optimized 21.8 15 51 5.6 -2.2
SPXT ProShares S&P 500 Ex-Technology 21.7 27 39 6.0 -1.8

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

Content on this tab for subscribers only

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:
American Customer Satisfaction Core Alpha
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 19.5 %
Divided by: Fwd. P/BV 2.3 x
Less: Expense ratio 66 bp
Equals: ALTAR Score 7.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.61 CATEGORY
AVERAGE
1.55
 
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.