Global X Adaptive U.S. Factor
ALTAR
Score™
8.2% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
14.1x P/Sales
ratio
1.4x
P/BV
ratio
1.4x Div.
yield
4.1%


  • 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 28, 2018
Assets (mns) $183
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 265
Wgt avg mkt cap (mns) $50,825
Large cap (>$10bn) 50.9%
Mid cap ($2-10bn) 48.5%
Small cap (<$2bn) 0.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PROCTER & GAMBLE CO/THE 2.0 %
STARBUCKS CORP 2.0 %
NEXTERA ENERGY GROUP 1.9 %
AMERICAN TOWER CORP-CL A 1.8 %
DANAHER CORP 1.6 %
SOUTHERN CO 1.5 %
WASTE MANAGEMENT INC 1.3 %
MONDELEZ INTERNATIONAL INC-A 1.2 %
MFA FINANCIAL INC 1.0 %
STARWOOD PROPERTY TRUST INC 1.0 %
Total 15.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
IRELAND 1.5 %
BERMUDA 1.2 %
BRITAIN 0.9 %
SWITZERLAND 0.6 %






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.
18.4% 10.2% -- -- 5.0%

Market Correlations
versus... Beta R-squared
S&P500 0.89 92%
MSCI EAFE 0.96 77%
MSCI Emg. Mkts. 0.77 69%

Technical Indicators
Recent close $25.40
30d moving avg. $25.20
Annualized volatility 16.1%
Short interest (ETF) 0.0%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 18
Turnover 0.3%
Bid/Ask (% of price) 0.26%
ADV underlying (mns) $33,663

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Global X Adaptive U.S. Factor 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™: 8.2%


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
(%)
SPMO Invesco S&P 500 Momentum Portfolio 31.7 13 14 4.2 -4.0
FEX First Trust Large Cap Core Alphadex 30.7 61 -34 6.4 -1.8
ULVM USAA MSCI USA Value Momentum Blend Index 30.4 20 7 7.8 -0.4
USMV iShares MSCI USA Minimum Volatility 29.7 15 12 5.2 -3.0
JDIV JPMorgan U.S. Dividend 29.6 12 15 7.5 -0.7
LVUS Hartford Multifactor Low Volatility US Equity 29.1 21 6 5.8 -2.4
JPUS JPMorgan Diversified Return U.S. Equity 28.6 19 8 6.3 -1.9
PQLC PGIM QMA Strategic Alpha Large-Cap Core 28.4 17 10 7.0 -1.2
RBUS Nationwide Risk-Based U.S. Equity 28.3 30 -3 6.1 -2.1
FXO First Trust Financial Alphadex 28.2 63 -36 8.1 -0.2
HUSV First Trust Horizon Managed Volatility Domestic 28.2 70 -43 4.8 -3.5
ROUS Lattice U.S. Equity Strategy ETF 28.1 19 8 6.4 -1.8
JMIN JPMorgan U.S. Minimum Volatility 27.6 12 15 5.6 -2.6
TUSA First Trust Total US Market AlphaDEX 27.6 70 -43 6.7 -1.5
SCIU Global X Scientific Beta US 27.4 19 8 5.7 -2.5
FTC First Trust Large Cap Growth 27.1 61 -34 3.7 -4.6
FCTR First Trust Lunt U.S. Factor Rotation 25.7 65 -38 3.5 -4.7
VFMO Vanguard U.S. Momentum Factor 25.7 13 14 2.9 -5.4
USLB Invesco Russell 1000 Low Beta Equal Weight 25.6 35 -8 5.8 -2.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity 25.3 9 18 6.5 -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

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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:
Global X Adaptive U.S. Factor
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 11.4 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 27 bp
Equals: ALTAR Score 8.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.62 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.