Avantis International Equity ETF
ALTAR
Score™		 7.9% info Recommen-
dation		 NEUTRAL
2020E    2021E
P/E
ratio		 18.7x P/Sales
ratio		 1.0x
P/BV
ratio		 1.2x Div.
yield		 3.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
AVDE is an actively managed portfolio of non-US companies from developed markets, of all market capitalizations selected based on prospects for long-term growth of capital.

FUND BASICS
Category International Equities
Fund Sponsor American Century
Website www.avantisinvestors.com
Inception date Sep 24, 2019
Assets (mns) $285
Currency USD
Expense ratio 23 bp
Distributions Semi-annual

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 3282
Wgt avg mkt cap (mns) $38,011
Large cap (>$10bn) 61.2%
Mid cap ($2-10bn) 28.6%
Small cap (<$2bn) 10.1%
Developed mkts 99.8%
Emerging mkts 0.2%

TOP TEN HOLDINGS
ROCHE HOLDINGS LTD-SPONS ADR 1.4 %
NOVARTIS AG-ADR 1.2 %
NESTLE SA-SPONS ADR 0.8 %
TOYOTA MOTOR CORP -SPON ADR 0.8 %
NOVO-NORDISK A/S-SPONS ADR 0.6 %
ASTRAZENECA PLC-SPONS ADR 0.6 %
LVMH MOET HENNESSY LOUIS VUI 0.5 %
BP PLC-SPONS ADR 0.5 %
GLAXOSMITHKLINE PLC-SPON ADR 0.5 %
ROYAL BANK OF CANADA 0.5 %
Total 7.2 %

TOP COUNTRY EXPOSURE
JAPAN 21.6 %
BRITAIN 12.2 %
CANADA 9.3 %
SWITZERLAND 8.8 %
FRANCE 7.4 %
GERMANY 6.9 %
AUSTRALIA 5.7 %
NETHERLANDS 3.5 %
SWEDEN 2.6 %
SPAIN 2.1 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.6% -- -- -- -8.6%

Market Correlations
versus... Beta R-squared
S&P500 -- --
MSCI EAFE -- --
MSCI Emg. Mkts. -- --

Technical Indicators
Recent close $47.92
30d moving avg. $43.47
Annualized volatility 0.0%
Short interest (ETF) 1.5%
Relative strength (RSI) 72

Liquidity measures
Avg. volume (thou.) 42
Turnover 0.7%
Bid/Ask (% of price) 0.29%
ADV underlying (mns) $65,662

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Avantis International Equity ETF ETF based on the alternatives' overlap in portfolio holdings with AVDE. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: AVDE Expense: 23 bp ALTAR Score™: 7.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH AVDE
Ticker Fund
Name		 Overlap1
vs AVDE
(%)		 Expense
ratio
(bp)		 Savings
vs AVDE
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs AVDE
(%)
IDEV iShares Core MSCI International Developed Markets ETF 50.8 5 18 7.3 -0.6
VEA Vanguard FTSE Developed Markets ETF 48.3 5 18 7.4 -0.4
IEFA iShares Core MSCI EAFE ETF 47.4 7 16 7.3 -0.6
SPDW SPDR Portfolio Developed World ex-US ETF 46.8 4 19 7.2 -0.6
SCHF Schwab International Equity ETF 46.2 6 17 7.4 -0.5
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 43.5 39 -16 6.7 -1.2
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 42.6 7 16 7.6 -0.3
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 42.2 39 -16 9.1 +1.2
IXUS ishares Core MSCI Total International Stock ETF 42.2 9 14 7.6 -0.3
ISZE iShares Edge MSCI Intl Size Factor ETF 42.0 30 -7 6.9 -0.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 41.3 45 -22 8.8 +1.0
EFA iShares MSCI EAFE ETF 41.0 32 -9 7.2 -0.7
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 40.5 35 -12 7.0 -0.8
VXUS Vanguard Total International Stock Index Fund 40.4 8 15 7.7 -0.2
FNDF Schwab Fundamental International Large Co. Index ETF 39.4 25 -2 8.7 +0.8
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 39.3 20 3 7.3 -0.6
VEU Vanguard FTSE All-World ex-US Index Fund 38.9 8 15 7.7 -0.1
HFXI IQ 50 Percent Hedged FTSE International ETF 38.8 20 3 7.5 -0.3
ACWX iShares MSCI ACWI ex U.S. ETF 38.6 32 -9 7.5 -0.3
GSIE Goldman Sachs ActiveBeta International Equity ETF 38.5 25 -2 6.8 -1.0
JHMD John Hancock Multifactor Developed International ETF 37.9 45 -22 7.4 -0.4
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 37.7 40 -17 7.4 -0.4
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 36.4 24 -1 7.2 -0.7
VSGX Vanguard ESG International Stock ETF 35.4 17 6 7.4 -0.5
CIL VictoryShares International Volatility Weighted Index ETF 34.0 45 -22 6.7 -1.1
PDEV Principal International Multi-Factor Core Index ETF 33.6 25 -2 7.9 +0.0
IEUR iShares Core MSCI Europe ETF 32.0 9 14 7.3 -0.6
CWI SPDR MSCI ACWI ex-US ETF 31.9 30 -7 7.6 -0.2
DWM WisdomTree International Equity Fund 31.5 48 -25 8.2 +0.4
QEFA SPDR MSCI EAFE Quality Mix ETF 31.5 30 -7 6.8 -1.1
ISDX Invesco Strategic Developed ex-US ETF 31.2 23 0 7.4 -0.4
FEU SPDR Portfolio Europe ETF 31.1 9 14 7.3 -0.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 31.0 35 -12 8.6 +0.7
VGK Vanguard FTSE Europe ETF 30.9 8 15 7.3 -0.6
IQSI IQ Candriam ESG International Equity ETF 30.2 15 8 7.3 -0.5
ESGD iShares MSCI EAFE ESG Optimized ETF 29.5 20 3 7.2 -0.7
IQIN IQ 500 International ETF 28.9 25 -2 9.0 +1.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 27.7 16 7 7.1 -0.7
HFXE IQ 50 PERCENT HEDGED FTSE EUROPE ETF 27.6 30 -7 6.8 -1.0
FLEE Franklin FTSE Europe ETF 27.4 9 14 7.0 -0.9
FLEH Franklin FTSE Europe Hedged ETF 27.4 9 14 7.2 -0.7
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 27.1 45 -22 6.9 -1.0
BBEU JPMorgan BetaBuilders Europe ETF 26.6 9 14 7.3 -0.6
VPL Vanguard FTSE Pacific ETF 26.4 8 15 7.8 -0.0
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 26.2 14 9 7.0 -0.9
EFG iShares MSCI EAFE Growth ETF 26.0 40 -17 4.7 -3.1
IDLB Invesco FTSE International Low Beta Equal Weight ETF 25.9 45 -22 7.2 -0.7
DBEU Xtrackers MSCI Europe Hedged Equity ETF 25.5 45 -22 6.8 -1.1
PQIN PGIM QMA Strategic Alpha International Equity ETF 25.2 29 -6 8.1 +0.2
TPIF Timothy Plan International ETF 24.6 62 -39 7.0 -0.9
EFV iShares MSCI EAFE Value ETF 24.4 39 -16 10.0 +2.2
SCID Global X Scientific Beta Europe ETF 23.8 38 -15 6.9 -1.0
IEV iShares Europe ETF 23.8 59 -36 6.8 -1.1
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 23.7 25 -2 6.7 -1.2
IPAC iShares Core MSCI Pacific ETF 23.1 9 14 7.5 -0.4
VYMI Vanguard International High Dividend Yield ETF 23.0 32 -9 10.1 +2.3
RODM Hartford Multifactor Developed Markets (ex-US) ETF 22.0 29 -6 8.6 +0.8
IDY Pacific Global International Equity Income ETF 21.5 39 -16 8.0 +0.2
QINT American Century Quality Diversified International ETF 21.5 39 -16 5.9 -1.9
JPEU JPMorgan Diversified Return Europe Equity ETF 20.9 37 -14 6.8 -1.1
URTH iShares MSCI World ETF 20.8 24 -1 5.8 -2.1
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 20.7 45 -22 6.8 -1.1
JPGE JPMorgan Diversified Return Global Equity ETF 20.5 29 -6 7.3 -0.5
RNDM Developed International Equity Select ETF 20.4 65 -42 6.4 -1.5
IMTM iShares Edge MSCI Intl Momentum Factor ETF 20.3 30 -7 5.0 -2.9
DOL WisdomTree International LargeCap Dividend Fund 20.0 48 -25 8.5 +0.7
VT Vanguard Total World Stock Index Fund 19.9 8 15 6.3 -1.6
QWLD SPDR MSCI World StrategicFactors ETF 19.8 30 -7 6.0 -1.8
IQLT iShares Edge MSCI Intl Quality Factor ETF 19.7 30 -7 6.2 -1.6
IGRO iShares International Dividend Growth ETF 19.4 22 1 8.0 +0.1
FNDC Schwab Fundamental International Small Co. Index ETF 19.2 39 -16 7.1 -0.7
ACWI iShares MSCI ACWI ETF 18.9 32 -9 6.0 -1.8
DHDG WisdomTree Dynamic Currency Hedged Intl Quality Div Growth 18.7 48 -25 0.0 -7.9
UIVM VictoryShares USAA MSCI International Value Momentum ETF 18.7 35 -12 8.6 +0.7
JPIN JPMorgan Diversified Return International Equity ETF 18.7 38 -15 8.0 +0.1
ESGG FlexShares STOXX Global ESG Impact Index Fund 18.4 42 -19 5.6 -2.3
LOWC SPDR MSCI ACWI Low Carbon Target ETF 17.9 20 3 6.4 -1.5
DIM WisdomTree International MidCap Dividend Fund 17.8 58 -35 7.6 -0.2
EURZ Xtrackers Eurozone Equity ETF 17.2 9 14 7.0 -0.8
EZU iShares MSCI Eurozone ETF 16.9 49 -26 6.7 -1.2
CRBN iShares MSCI ACWI Low Carbon Target ETF 16.9 20 3 6.3 -1.5
HFXJ IQ 50 Percent Hedged FTSE Japan ETF 16.8 30 -7 7.6 -0.3
FLJP Franklin FTSE Japan ETF 16.8 9 14 7.8 -0.0
FLJH Franklin FTSE Japan Hedged ETF 16.8 9 14 7.7 -0.1
SCZ iShares MSCI Eafe Small-Cap ETF 16.8 40 -17 6.5 -1.3
TOK iShares MSCI Kokusai ETF 16.4 25 -2 5.7 -2.1
PDN Invesco FTSE RAFI Developed Markets ex-US Small-Mid ETF 16.3 49 -26 6.9 -1.0
DTH WisdomTree DEFA Equity Income Fund 16.0 58 -35 9.6 +1.7
IVLU iShares Edge MSCI Intl Value Factor ETF 15.7 30 -7 11.3 +3.4
EFAV iShares Edge MSCI Min Vol EAFE ETF 15.7 20 3 5.9 -2.0
RFDI First Trust Riverfront Dynamic Developed International ETF 15.6 83 -60 6.3 -1.5
BBJP JPMorgan BetaBuilders Japan ETF 15.0 19 4 7.7 -0.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 14.9 9 14 6.2 -1.7
JPXN iShares JPX-Nikkei 400 ETF 14.9 48 -25 7.5 -0.3
JPN Xtrackers Japan JPX-Nikkei 400 Equity ETF 14.8 9 14 7.9 +0.1
RBIN Nationwide Risk-Based International Equity ETF 14.8 42 -19 6.5 -1.4
QJPN SPDR MSCI Japan StrategicFactors ETF 14.2 14 9 8.0 +0.1
EWJ iShares MSCI Japan ETF 14.1 49 -26 7.4 -0.4
IDHQ Invesco S&P International Developed High Quality ETF 14.0 29 -6 5.4 -2.4

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:		 Avantis International Equity ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.8 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 23 bp
Equals: ALTAR Score 7.9 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 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.