Global X Adaptive U.S. Factor ETF
ALTAR
Score™
9.3% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
16.4x P/Sales
ratio
1.5x
P/BV
ratio
1.2x Div.
yield
3.7%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating

FUND BASICS
Category US Equities
Fund Sponsor Global X
Website www.globalxfunds.com
Inception date Aug 24, 2018
Assets (mns) $143
Currency USD
Expense ratio 27 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 196
Wgt avg mkt cap (mns) $50,961
Large cap (>$10bn) 57.6%
Mid cap ($2-10bn) 42.0%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
EQUITY COMMONWEALTH 2.0 %
MCDONALD'S CORP 1.7 %
REPUBLIC SERVICES INC 1.7 %
QIAGEN NV 1.6 %
WASTE MANAGEMENT INC 1.6 %
VERIZON COMMUNICATIONS INC 1.6 %
WAL-MART STORES INC 1.6 %
NORTONLIFELOCK INC 1.6 %
ACACIA COMMUNICATIONS, INC. 1.5 %
AGNC INVESTMENT CORP. 1.5 %
Total 16.5 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.4 %
NETHERLANDS 2.3 %
SWITZERLAND 1.5 %
IRELAND 0.7 %
BRITAIN 0.5 %
BERMUDA 0.5 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.0% -2.2% -- -- -0.7%

Market Correlations
versus... Beta R-squared
S&P500 1.13 89%
MSCI EAFE 1.24 87%
MSCI Emg. Mkts. 0.94 77%

Technical Indicators
Recent close $22.13
30d moving avg. $22.53
Annualized volatility 24.8%
Short interest (ETF) 0.1%
Relative strength (RSI) 41

Liquidity measures
Avg. volume (thou.) 14
Turnover 0.2%
Bid/Ask (% of price) 0.34%
ADV underlying (mns) $14,087

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Global X Adaptive U.S. Factor ETF ETF based on the alternatives' overlap in portfolio holdings with AUSF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AUSF Expense: 27 bp ALTAR Score™: 9.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AUSF
Ticker Fund
Name
Overlap1
vs AUSF
(%)
Expense
ratio
(bp)
Savings
vs AUSF
(bp)
ALTAR
Score™
(%)
ALTAR
vs AUSF
(%)
FTA First Trust Large Cap Value AlphaDEX Fund 27.8 60 -33 9.3 0.0
USDY Pacific Global US Equity Income ETF 26.7 29 -2 7.2 -2.1
LVUS Hartford Multifactor Low Volatility US Equity ETF 26.7 19 8 0.0 -9.3
IUSV iShares Core S&P U.S. Value ETF 26.5 4 23 7.5 -1.9
VOOV Vanguard S&P 500 Value ETF 26.3 10 17 7.3 -2.0
FAB First Trust Multi Cap Value AlphaDEX Fund 26.2 71 -44 10.0 +0.7
IVE iShares S&P 500 Value ETF 26.2 18 9 7.2 -2.1
SPYV SPDR Portfolio S&P 500 Value ETF 26.1 4 23 7.4 -2.0
DTD WisdomTree U.S.Total Dividend Fund 26.1 28 -1 7.1 -2.2
PVAL Principal Contrarian Value Index ETF 26.0 29 -2 0.0 -9.3
JVAL JPMorgan U.S. Value Factor ETF 26.0 12 15 8.9 -0.5
VYM Vanguard High Dividend Yield Index ETF 26.0 6 21 7.5 -1.9
USMV iShares Edge MSCI Min Vol USA ETF 25.0 15 12 5.5 -3.9
DLN WisdomTree U.S. LargeCap Dividend Fund 25.0 28 -1 7.0 -2.4
PRF Invesco FTSE RAFI US 1000 ETF 24.9 39 -12 7.2 -2.1
SCHV Schwab U.S. Large-Cap Value ETF 24.7 4 23 7.1 -2.2
RNDV US Equity Dividend Select ETF 24.5 50 -23 8.0 -1.3
FNDX Schwab Fundamental U.S. Large Co. Index ETF 24.5 25 2 7.3 -2.0
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 24.4 35 -8 8.6 -0.7
IWD iShares Russell 1000 Value ETF 24.1 19 8 6.9 -2.4
VTV Vanguard Value Index Fund 24.1 4 23 7.4 -1.9
JDIV JPMorgan U.S. Dividend ETF 24.1 12 15 7.9 -1.5
FXO First Trust Financials AlphaDEX Fund 24.1 63 -36 13.1 +3.7
VONV Vanguard Russell 1000 Value Index Fund 23.8 8 19 7.0 -2.3
VLU SPDR S&P 1500 Value Tilt ETF 23.8 12 15 7.6 -1.8
FNDB Schwab Fundamental U.S. Broad Market Index ETF 23.6 25 2 7.3 -2.1
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 23.5 35 -8 8.7 -0.7
RAFE PIMCO RAFI ESG U.S. ETF 23.4 29 -2 7.6 -1.7
DIVB iShares U.S. Dividend & Buyback ETF 23.3 25 2 7.1 -2.2
STLV iShares Factors US Value Style ETF 23.2 25 2 7.2 -2.1
DVY iShares Select Dividend ETF 23.2 39 -12 9.7 +0.3
QUS SPDR MSCI USA StrategicFactors ETF 23.1 15 12 6.2 -3.2
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 22.7 29 -2 6.3 -3.1
EPS WisdomTree U.S. Earnings 500 Fund 22.3 8 19 7.1 -2.2
DGRO iShares Core Dividend Growth ETF 22.3 8 19 6.9 -2.4
SPYD SPDR S&P 500 High Dividend ETF 22.0 7 20 11.4 +2.1
FDLO Fidelity Low Volatility Factor ETF 21.9 29 -2 5.1 -4.2
RWL Invesco S&P 500 Revenue ETF 21.8 39 -12 7.4 -2.0
ONEY SPDR Russell 1000 Yield Focus ETF 21.8 20 7 9.1 -0.2
MGV Vanguard Mega Cap Value ETF 21.4 7 20 7.2 -2.1
VFVA Vanguard U.S. Value Factor ETF 21.3 14 13 11.3 +1.9
FEX First Trust Large Cap Core AlphaDEX Fund 21.3 60 -33 6.0 -3.3
RPV Invesco S&P 500 Pure Value ETF 21.1 35 -8 11.1 +1.8
SPXT ProShares S&P 500 Ex-Technology ETF 21.1 27 0 5.5 -3.8
ROUS Hartford Multifactor US Equity ETF 21.0 19 8 6.5 -2.9
IWX iShares Russell Top 200 Value ETF 21.0 20 7 6.8 -2.6
SPVU Invesco S&P 500 Enhanced Value ETF 20.8 13 14 11.9 +2.6
EQWL Invesco Russell Top 200 Equal Weight ETF 20.3 25 2 6.2 -3.2
LGLV SPDR Russell 1000 Low Volatility ETF 20.2 12 15 5.5 -3.8
RNLC Large Cap US Equity Select ETF 19.9 60 -33 6.3 -3.0
SCIU Global X Scientific Beta US ETF 19.8 19 8 6.0 -3.4
DYNF BlackRock U.S. Equity Factor Rotation ETF 19.7 30 -3 6.6 -2.8
RSP Invesco S&P 500 Equal Weight ETF 19.6 20 7 6.6 -2.8
RVRS Reverse Cap Weighted U.S. Large Cap ETF 19.6 29 -2 7.9 -1.4
JMIN JPMorgan U.S. Minimum Volatility ETF 19.5 12 15 5.5 -3.8
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 19.1 29 -2 6.9 -2.4
LSLT Salt Low truBeta US Market ETF 19.0 29 -2 6.0 -3.4
MAGA Point Bridge GOP Stock Tracker ETF 19.0 72 -45 6.4 -3.0
VFMV Vanguard U.S. Minimum Volatility ETF 19.0 13 14 4.4 -5.0
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 18.9 9 18 6.0 -3.3
QDEF FlexShares Quality Dividend Defensive Index Fund 18.8 37 -10 6.9 -2.5
JHMF John Hancock Multifactor Financials ETF 18.5 40 -13 7.8 -1.5
JKI iShares Morningstar Mid-Cap Value ETF 18.5 30 -3 9.1 -0.2
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 18.5 29 -2 9.6 +0.2
ALTL Pacer Lunt Large Cap Alternator ETF 18.4 60 -33 5.1 -4.2
SPLV Invesco S&P 500 Low Volatility ETF 18.3 25 2 5.4 -3.9
HUSV First Trust Horizon Managed Volatility Domestic ETF 18.2 70 -43 5.0 -4.3
PBP Invesco S&P 500 BuyWrite ETF 18.2 49 -22 5.6 -3.7
PFM Invesco Dividend Achievers ETF 18.2 53 -26 5.3 -4.0
TUSA First Trust Total US Market AlphaDEX ETF 18.1 70 -43 6.1 -3.3
JHML John Hancock Multifactor Large Cap ETF 18.1 29 -2 5.9 -3.4
IEFN iShares Evolved U.S. Financials ETF 18.1 18 9 9.4 +0.1
JPUS JPMorgan Diversified Return U.S. Equity ETF 18.1 18 9 6.2 -3.1
EUSA iShares MSCI USA Equal Weighted ETF 18.1 15 12 6.2 -3.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 18.0 15 12 7.0 -2.3
HSPX Global X S&P 500 Covered Call ETF 18.0 60 -33 5.5 -3.8
IVV iShares Core S&P 500 ETF 17.8 3 24 6.0 -3.3
XYLG Global X S&P 500 Covered Call & Growth ETF 17.8 60 -33 5.6 -3.7
SPY SPDR S&P 500 ETF Trust 17.7 9 18 6.0 -3.4
SPLG SPDR Portfolio Large Cap ETF 17.7 3 24 6.0 -3.3
AMCA iShares Russell 1000 Pure U.S. Revenue ETF 17.7 15 12 6.8 -2.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 17.6 9 18 6.1 -3.2
QLV FlexShares US Quality Low Volatility Index Fund 17.6 22 5 5.4 -4.0
FNK First Trust Mid Cap Value AlphaDEX Fund 17.6 70 -43 11.3 +2.0
SIZE iShares Edge MSCI USA Size Factor ETF 17.5 15 12 6.1 -3.2
DHS WisdomTree U.S. High Dividend Fund 17.5 38 -11 8.8 -0.5
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 17.5 20 7 7.6 -1.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 17.5 20 7 6.0 -3.4
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 17.5 25 2 6.8 -2.6
VOO VANGUARD S&P 500 ETF 17.5 3 24 6.0 -3.3
FLLV Franklin Liberty U.S. Low Volatility ETF 17.5 29 -2 5.9 -3.5
SCHK Schwab 1000 Index ETF 17.4 5 22 5.8 -3.5
VALQ American Century STOXX U.S. Quality Value ETF 17.4 29 -2 9.0 -0.3
EQAL Invesco Russell 1000 Equal Weight ETF 17.4 20 7 5.7 -3.7
IWB iShares Russell 1000 ETF 17.4 15 12 5.6 -3.7
PBUS Invesco PureBeta MSCI USA ETF 17.4 4 23 5.9 -3.5
FDRR Fidelity Dividend ETF for Rising Rates 17.4 29 -2 7.6 -1.8
SPXE ProShares S&P 500 Ex-Energy ETF 17.4 27 0 6.0 -3.4
SCHX Schwab U.S. Large-Cap ETF 17.3 3 24 5.9 -3.5
IYY iShares Dow Jones U.S. ETF 17.3 20 7 5.7 -3.7

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:
Global X Adaptive U.S. Factor ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.0 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 27 bp
Equals: ALTAR Score 9.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.61 CATEGORY
AVERAGE
1.51
 
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.