BLDRs Europe 100 ADR
ALTAR
Score™
8.1% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
12.1x P/Sales
ratio
1.4x
P/BV
ratio
1.4x Div.
yield
5.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
BLDRS Europe 100 ADR Index Fund is a unit investment trust incorporated in the USA. The Fund's objective is to seek investment results that correspond to the price and yield performance of The Bank of New York Europe 100 ADR Index, which is a capitalization-weighted index.

FUND BASICS
Category International Equities
Fund Sponsor Bank of New York
Website www.powershares.com
Inception date Nov 13, 2002
Assets (mns) $9
Currency USD
Expense ratio 30 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 69
Wgt avg mkt cap (mns) $112,061
Large cap (>$10bn) 97.7%
Mid cap ($2-10bn) 2.2%
Small cap (<$2bn) 0.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
NOVARTIS AG-ADR 7.4 %
HSBC HOLDINGS PLC-SPONS ADR 4.9 %
SAP AG-SPONSORED ADR 4.7 %
TOTAL SA-SPON ADR 4.4 %
BP PLC-SPONS ADR 4.2 %
ASTRAZENECA PLC-SPONS ADR 4.0 %
ROYAL DUTCH SHELL PLC-ADR 4.0 %
ASML HOLDING NV-NY REG SHS 3.6 %
ROYAL DUTCH SHELL PLC-ADR 3.5 %
GLAXOSMITHKLINE PLC-SPON ADR 3.5 %
Total 44.2 %

TOP COUNTRY EXPOSURE
BRITAIN 46.7 %
SWITZERLAND 12.1 %
NETHERLANDS 9.8 %
FRANCE 8.7 %
GERMANY 5.8 %
SPAIN 4.5 %
DENMARK 3.1 %
BELGIUM 2.4 %
IRELAND 1.5 %
ITALY 1.2 %

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.
15.4% 9.1% 1.6% 3.8% 7.3%

Market Correlations
versus... Beta R-squared
S&P500 0.72 58%
MSCI EAFE 0.99 91%
MSCI Emg. Mkts. 0.65 63%

Technical Indicators
Recent close $21.05
30d moving avg. $21.09
Annualized volatility 11.5%
Short interest (ETF) 0.0%
Short interest (Underlying) 0.4%
Relative strength (RSI) 53

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.60%
ADV underlying (mns) $3,245

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the BLDRs Europe 100 ADR ETF based on the alternatives' overlap in portfolio holdings with ADRU. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ADRU Expense: 30 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ADRU
Ticker Fund
Name
Overlap1
vs ADRU
(%)
Expense
ratio
(bp)
Savings
vs ADRU
(bp)
ALTAR
Score™
(%)
ALTAR
vs ADRU
(%)
ADRD BLDRs Developed Markets 100 ADR 80.0 30 0 9.0 +0.9
PPH VanEck Vectors Pharmaceuticals 19.2 36 -6 9.4 +1.4
GCOW Pacer Global Cash Cows Dividend 16.4 60 -30 9.8 +1.7
AADR WCM/BNY Mellon Focused Growth 15.2 110 -80 3.1 -5.0
PID Invesco International Dividend Achievers 15.0 54 -24 7.4 -0.7
AVDE Avantis International Equity 11.6 23 7 7.5 -0.6
ICOW Pacer Developed Markets Int'l Cash Cows 100 11.2 65 -35 9.5 +1.4
ACT AdvisorShares Vice 11.2 99 -69 7.9 -0.1
AIIQ AI Powered International Equity 10.3 79 -49 4.6 -3.4
TTFS AdvisorShares Whilshire Buyback 7.1 91 -61 6.4 -1.6
BLCN Reality Shares NASDAQ NextGen Economy 5.6 68 -38 5.6 -2.5
VALX Validea Market Legends 5.2 79 -49 8.1 +0.1
FVD First Trust Value Line Dividend 4.8 70 -40 5.8 -2.3
CVY Invesco Multi-Asset Income 4.6 97 -67 9.2 +1.1
CNCR Loncar Cancer Immunotherapy 4.3 79 -49 -3.5 -11.5
SMH VanEck Vectors Semiconductors 4.1 35 -5 6.4 -1.7
DTEC ALPS Disruptive Technologies 3.7 50 -20 3.5 -4.6
XKII SPDR Kensho Intelligent Structures 3.6 45 -15 6.5 -1.6
ACIO Aptus Collared Income Opportunity 3.5 79 -49 6.8 -1.2
FTRI First Trust ISE Global Natural Resources Income 3.2 70 -40 9.7 +1.7

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

  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:
BLDRs Europe 100 ADR
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 11.0 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 30 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.56 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.